July 2, 2008
Bear Creek Finalizes Prefeasibility Study Contracts
VANCOUVER, July 2 /PRNewswire-FirstCall/ -- Bear Creek Mining (TSX Venture: BCM) ("Bear Creek" or the "Company") is pleased to announce that contracts were awarded to Samuel Engineering, Denver, Colorado and Vector Engineering, Lima, Peru for the Pre-feasibility Study on its Corani silver-base metals deposit located in southeastern Peru. The study is expected to be completed at year-end 2008.
Bear Creek is also very pleased to report that Marc Leduc, who has been heading up Bear Creek's development work at Corani has been promoted to Senior Vice President/Engineering and Development. Marc will continue to lead the Corani and Santa Ana projects through development phases. The Company reports that David Volkert is retiring as Vice President/Exploration. David will continue to assist the Bear Creek team in a key consulting role, reporting to the President and CEO where he will continue to lend his strategic expertise to our exploration programs. Christian Rios will be assuming the role of Exploration Manager. Mr. Rios has recently completed his Masters degree in the Lowell Program for Economic Geology at the University of Arizona and has served as Exploration Geologist for Bear Creek for five of his eight years experience. Mr. Rios performed the initial geologic evaluations and drilling recommendations at the Company's newest silver discovery, Santa Ana.Andrew Swarthout, President and CEO of Bear Creek states "These changes enable Bear Creek to be responsive to the tasks of developing two advanced-stage silver deposits in conjunction with continuing its aggressive exploration programs. Our management depth and staff experience have allowed us to seamlessly plan for these changes while continuing to focus on value creation through our exploration and development programs."
The Company announces that 150,000 stock options were granted today in conjunction with the above appointments, such options having a term of 5 years, a vesting schedule of 25% every 6 months and an exercise price of CDN$4.95 per share, being the closing price of the Company's common shares on the TSX Venture Exchange on June 30, 2008.
The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release. Regulatory footnotes:
Certain disclosure in this release, including management's assessment of Bear Creek's plans and projects, constitutes forward-looking statements that are subject to numerous risks, uncertainties and other factors relating to Bear Creek's operation as a mineral exploration company that may cause future results to differ materially from those expressed or implied in such forward-looking statements. These risks, uncertainties and other factors are disclosed in Bear Creek's continuous disclosure filings with Canadian securities regulators including its most recent annual information form, available on http://www.sedar.com/. Bear Creek expressly disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise.
CONTACT: Andrew Swarthout - President and CEO, or Patrick De Witt - Investor Relations, Phone: (604) 685-6269, Direct: (604) 628-1111, E-mail: [email protected]; For further information, please visit the Company's website (http://www.bearcreekmining.com/)
Bear Creek Mining Corporation
CONTACT: Andrew Swarthout - President and CEO, or Patrick De Witt -Investor Relations, Phone: (604) 685-6269, Direct: (604) 628-1111, E-mail:[email protected]; For further information, please visit the Company'swebsite (http://www.bearcreekmining.com/)