Baja Mining Announces Share Consolidation and Name Change

VANCOUVER, BC--(Marketwired - October 05, 2016) - Baja Mining Corp. ("Baja" or the "Company") (TSX VENTURE: BAJ) (OTCQB: BAJFF) wishes to announce that further to the approval received from shareholders of the Company at the annual and special meeting (the "Meeting") held on December 16, 2015, and as described in more detail in the management information circular of the Company dated November 4, 2015, based on market conditions and other factors the board of directors of the Company (the "Board") has authorized a consolidation of the issued and outstanding common shares of the Company (the "Common Shares") on the basis of one (1) post-consolidation Common Share for every twenty (20) pre-consolidation Common Shares (the "Consolidation"). In connection with the Consolidation, the Board has also decided to change the Company's name from "Baja Mining Corp." to "Camrova Resources Inc.".

As part of the Consolidation, the approximately 340.2 million Common Shares currently issued and outstanding will be reduced to approximately 17.0 million post-consolidation Common Shares. No fractional shares will be issued under the Consolidation. Each fractional share following the Consolidation that is less than one-half of a share will be cancelled and each fractional share that is at least one-half of a share will be rounded up to the nearest whole share. The exercise or conversion price and the number of shares issuable under any of the Company's outstanding stock options and convertible instruments will be proportionately adjusted upon completion of the Consolidation. A letter of transmittal will be sent to registered shareholders providing instructions to surrender the certificates evidencing their Common Shares for replacement certificates representing the number of post- consolidation Common Shares to which they are entitled as a result of the Consolidation. Until surrendered, each certificate representing Common Shares prior to the Consolidation will be deemed for all purposes to represent the number of Common Shares to which the holder thereof is entitled as a result of the Consolidation.

The Consolidation is subject to the approval of the TSX Venture Exchange (the "TSXV") and the pre- consolidation Common Shares will continue to be traded on the TSXV under the current trading symbol "BAJ" until the effective date of the Consolidation and name change. Upon receipt of TSXV approval for the Consolidation, the Company will provide further details, including the effective date of the Consolidation and name change, and the commencement date for trading of the Common Shares on a post-consolidated basis under the Company's new name and trading symbol.