BEAR CREEK MINING CORPORATION

Bear Creek Mining received positive Scoping Study results and Preliminary Economic Assesment as defined by NI-43-101 based on the latest resource estimate update for the company’s 100% owned Santa Ana silver deposit located in southern Peru. Highlights include: 4.6 million ounces per year produced over 11.8 years in a heap leach operation and 5 million ounces per year for the first 6 years of operation; Cash cost of $7.47 per ounce silver; capital cost of $51 million with a two and a half year payback; net present value is $55 million at a 7% discount rate for Bear Creek’s 100% interest and the internal rate of return for the project is 29%; the undiscounted after tax NPV is $115 million and Measured and Indicated resources have increased 19% to 66.8 million tonnes at 45.5 g/t silver containing 97.7 million ounces of silver.