BEAR CREEK MINING - Focused in Gold & Silver Discovery in Peru (Seite 55)

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[KNORPEL]

Thu Mar 15, 2007
Bear Creek And Rio Tinto Formalized Option Agreement On Corani Silver Deposit, Peru
Vancouver, B.C. - Bear Creek Mining Corporation (TSX Venture: BCM) ("Bear Creek" or the "Company") is pleased to announce that the final Option and Shareholders Agreement was executed between Bear Creek and Rio Tinto Mining and Exploration Ltd. ("Rio Tinto") on March 15, 2007. The agreement formally defines and confirms the terms as set out in the Letter of Understanding signed between the parties on January 19, 2005 and previously disclosed by the Company. The key terms of the agreement are summarized as follows:

Bear Creek's only remaining fixed payment to earn its 70% interest is US$3 million due January 2008. The Company has previously paid a total of US$2.4 million to Rio Tinto.
Bear Creek is to pay Rio Tinto the following success fees based upon Recoverable Reserves defined by a Feasibility Study:
US$ 1.10 per ounce of gold;
US$0.015 per ounce of silver; and
US$0.005 per pound of copper.
In addition, a success fee of US$5 million shall be paid in each of the events that Recoverable Reserves exceed 1 million ounces gold and/ or 100 million ounces silver, such payment not to exceed a total of US$10 million.
Upon Bear Creek earning its 70% interest, the parties enter into a joint venture agreement, with Rio Tinto having a 30% interest, and dilution provisions which conform to industry practices for each party.
If the Economic Resources exceed 10 million ounces of gold or precious metals equivalent (500 million ounces in the case of silver), Rio Tinto will have a claw-back right to earn up to a 60% interest by reimbursing Bear Creek three times its expenditures to that time and providing Bear Creek a deferred carried interest on its 40% of the project through commencement of production.
The claw-back right ceases at decision to mine.

[KNORPEL]

Bear Creek Mining - BCM.V $8.69
Feb 07, 2007

Discovery: Over 300 million ounces of silver in Peru

Market cap - Ca$ 350 million
Shares o.s - 40 million

[KNORPEL]

Antwort auf Beitrag Nr.: 28.075.892 von KNORPEL am 02.03.07 19:12:41

Company
Ounces
Shares
Market Cap
M Cap/oz
Comment


Bear Creek Mining Corp.
320
40.28
342.37
1.07
1.59 billion pounds zinc

[KNORPEL]

Antwort auf Beitrag Nr.: 28.074.949 von KNORPEL am 02.03.07 18:47:38

[KNORPEL]

Antwort auf Beitrag Nr.: 28.074.624 von KNORPEL am 02.03.07 18:37:33

[KNORPEL]

Fri Mar 2, 2007
Positive Drill Results Continue To Expand Corani Silver Deposit; Santa Ana And El Abuelo Project Updates
VANCOUVER, B.C. - Bear Creek Mining (TSX Venture: BCM) ("Bear Creek" or the "Company") is pleased to announce results for twenty-one additional drill holes (3,360 meters) from the Corani project. These results bring the total to 104 holes drilled since the latest updated resource estimation on this major silver discovery (see news release 5 December 2006). The total drilling completed on the property now stands at 71,184 meters in 431 holes. Highlights of this release include:

• Minas Corani: Drilling further extends mineralization to the northwest under post-mineral tuff cover with 83 meters averaging 76 g/t Ag and 0.9% Pb, including 20 meters averaging 171 g/t Ag and 1.8% Pb (C-191), and 72 meters averaging 65 g/t Ag and 0.6% Pb, including 26 meters averaging 96 g/t Ag and 0.9% Pb (C-191A).
• Minas Corani: Infill drilling continues to confirm continuity (C-192A with 50 meters averaging 53 g/t Ag and 0.7% Pb, including 8 meters averaging 134 g/t Ag and 1.6% Pb).

• Minas Corani / Corani Este Connection: Drilling in the covered valley between Minas and Este intersects both silver and zinc mineralization.

• Current drilling focusing entirely on new targets as both silver and base metal mineralization remains open in all deposits.

Andrew Swarthout, President and CEO, stated "Infill drilling at Corani is largely completed and we are now focused on unexplored targets within the Corani District. Tremendous potential remains for new discoveries at Corani in the targets that exist either under the post mineral tuff adjacent to known mineralization, or in the large, prospective color anomaly that hosts known mineralization, of which we have tested only 10 per cent of the area. Drilling aimed at increasing resources is ongoing in conjunction with scoping study and pre-feasibility work, which is focused on completing the final metallurgical flow sheet."


http://www.bearcreekmining.com/s/NewsReleases.asp?ReportID=1…

[KNORPEL]

Bear Creek continues to explore the World Class Corani discovery with 3 drill rigs.
This is one of the largest silver discoveries in recent years. We expect the Corani silver system in Peru to be at least 500 million ounces when all drills have stopped drilling. Recently Bear Creek announced the results of its recently updated resource estimate. It includes the results from 327 drill holes and 25 surface trenches and shows total silver resources of 310 million ounces of silver.

In addition 3.12 billion pounds of lead and 1.59 billion pounds of zinc have been
discovered.

In January Bear Creek Mining expanded their discovery with results from thirty-seven additional drill holes. These results represent all of the holes drilled since the recently updated resource estimation on this major silver discovery. The total drilling completed on the property now stands at 67,823.6 meters in 410 holes, including 4 additional metallurgical test holes drilled in December 2006. Mineralization remains open in all deposits.

Andrew Swarthout, President and CEO, "Exploration drilling under post-mineral cover continues to show that mineralization remains open to the west and north of the three principle outcropping deposits that host the silver-base metals resources reported last month. This confirms the potential for additional discoveries within this still under-explored district where the world-class resources defined to date are flanked on almost all sides by thin cover”

Bear Creek Mining also announced the acquisition of two new gold projects, both located along the prolific Pierina - Alto Chicama -- Yanacocha gold belt in northern Peru. Neither property has ever been drill-tested. Drill targets are already defined on both properties and further detailed exploration is planned which is expected to identify additional targets.

The El Abuelo project (500 has.) is located approximately midway between Barrick Gold's Pierina and Alto Chicama mines. Mr. Mike McClave, an independent qualified person under the definitions of NI 43-101, evaluated the property for Bear Creek Mining in November 2006 and concludes that the geologic environment is similar to slate belt gold systems which have the potential to be large and may extend to great depths. Evidence of past mining by hydraulic and placer methods suggests the presence of significant free gold recoverable by low-cost gravity and leach methods.
The 82 surface rock chip samples collected to date average 1.7g/t gold, and:

• 39 samples assay greater than 0.5g/t Au,
• 24 samples assay greater than the average, and
• the 6 highest assays returned 6.6, 7.7, 9.1, 10.4, 12.4 and 17.2 g/t Au.

Gold is the primary metallic element with minimal silver or base metals.
Bear Creek can earn 100% of the property by making escalating payments totalling $10M over 4 years, investing a minimum of $1M in exploration over 3 years and drilling a minimum of 1,000m in the first 6 months.

Don Marcelo Project

The Don Marcelo property (1100 has.) is located in the Cordillera Negra, Ancash Department, approximately 50km south of Barrick's Pierina Mine. The surface sampling database (316 samples) contains 89 samples greater than 100ppb gold with the 6 best assays returning 1.0, 1.6, 1.7, 1.9, 2.3 and 3.0ppm gold. Elevated mercury values of 1.5 to 80ppm suggest that Don Marcelo is exposed at the higher levels of an untested epithermal system with gold potential at very shallow depth. As with El Abuelo, gold is the primary metallic element with minimal silver or base metals.
Bear Creek can acquire 75% of the property through escalating cash payments over 4 years totalling $4M with a commitment to complete a geophysical survey and drill a minimum of 1500m within the first 12 months. Bear Creek retains the right to obtain the remaining 25% interest by making a one-time payment based upon recoverable gold or gold-equivalent precious metals contained in proven reserves defined in a pre-feasibility study. The payment is defined as:

• $10M for up to 2M ounces gold
• $20M for 2-5M ounces gold
• $30M for more than 5M ounces gold.

Andrew Swarthout, President/CEO of Bear Creek, "With the addition of two new gold targets to Bear Creek's project pipeline, we continue to leverage the fundamental strengths of our company in exploration. This exploration focus has led to numerous past successes such as the Corani and Santa Ana silver discoveries. Our team's ability to continue to identify and acquire opportunities such as these brings exceptional potential to create value through the discovery of additional precious metal deposits. We look forward to the commencement of drilling on both of these projects during the first two quarters of 2007."

NB:

Silver Wheaton increased their interest in Bear Creek Mining Corporation to 19% earlier this year. An offer for all shares can be expected in 2007

[KNORPEL]

Bear Creek Mining Corporation's focus is on the discovery of high quality economic gold and silver deposits with a focus on Peru. Bear Creek's well-qualified exploration team has extensive experience in Peru where the Company maintains an ongoing aggressive exploration and acquisition program. Bear Creek's Management and Board of Directors have a long and successful track record of creating shareholder value through exploration and discovery.







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