SANTA ANA PROJECT

Bear Creek Mining Corporation announced an update to the silver recovery for its 100% owned Santa Ana deposit located in southern Peru. Recently completed column tests on a representative composite of the Santa Ana ore crushed to 80% passing 3/8-inch returned results that show the long-term recovery of silver is expected to be 75%. Using the same metal price of $14.50 per ounce for economic analysis the economic results for the Santa Ana Project improve to a pre-tax NPV of $107 million at a 5% discount rate and 29% IRR.

Bear Creek Mining Corporation announced the results of a positive feasibility study for its 100% owned Santa Ana silver deposit located in southern Peru. The study shows that the project has a pre-tax internal rate of return (“IRR”) of 25.3%, a net present value of $85.3 million at a 5% discount rate and earnings before interest, taxes, depreciation and amortization (“EBITDA”) of $144 million over the 11 year life based upon $14.50 per ounce silver. Recovered silver production in the first six years averages 4.6 million ounces per year and the project is expected to produce an average of 4.0 million payable ounces of silver per year over the 11 year mine-life.

Bear Creek Mining announce the results from the resource estimate for Santa Ana leachable silver deposit, located in southeastern Peru. Current silver resources are estimated to consist of Measured and Indicated 101.8 million tonnes grading 41.5 g/t silver containing 136 million ounces silver and Inferred 21.6 million tonnes grading 40.6 g/t silver containing 28.2 million ounces silver. The deposit is still open in 4 directions.