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Bear Creek announces step-out drilling at Santa Ana - Encounters higher-grade silver - Mineralization remains open

Posted on: Thursday, 22 January 2009, 08:45 CST

VANCOUVER, Jan. 22 /PRNewswire-FirstCall/ - Bear Creek Mining (TSX Venture: BCM) ("Bear Creek" or the "Company") is pleased to announce results for 27 additional diamond drill holes (4,962.1 meters). Drilling at Santa Ana now totals 55,574.1 meters in 306 drill holes. Santa Ana is located 200 kilometers south of the Company's world-class Corani silver-base metal deposit in southeastern Peru. Highlights of this press release include:

- Drill hole SA-177 intersects 46m @ 273.7 g/t Ag and 1.0% Zn, including 10m @ 1147.6g/t Ag and 2.9% Zn (one 2m interval with 3000 g/t Ag). - Drill hole SA-186 intersects 46m @ 90.0 g/t Ag and 0.9% Zn, including 16m @ 222.3 g/t Ag. - Drill hole SA-183 intersects 162m @ 51.6 g/t Ag, including 4m @ 269.5 g/t Ag and 2.5% Zn. - Drill hole SA-133A intersects 91m @ 47.6 g/t Ag and 0.9% Zn, including 4m @ 196 g/t Ag and 1.5% Zn. - Drill hole SA-191 intersects 48m @ 47.5 g/t Ag, including 8m @ 112.8 g/t Ag. - At the extreme north end of the current drilling, drill hole SA-194A intersects 74m @ 51.4 g/t Ag and drill hole SA-195 intersects 22m @ 123.9 g/t Ag. - Drilling continues to intersect blind high grade mineralization. - Mineralization remains open laterally and at depth.

Andrew Swarthout, President and CEO of Bear Creek, states "We are very encouraged by the results of step-out drilling 400 meters north of our current resource limit where near-surface mineralization up to four times the average resource grade have been encountered over robust intervals. The mineralization remains open under the thin soil cover. These results, in conjunction with the higher-grade infill drilling completed during the past several months, are expected to further increase the contained silver and convert inferred resources into measured and indicated as we proceed towards a new resource estimate for the Preliminary Economic Assessment. The recent drilling confirms that Santa Ana continues to be an important emerging silver discovery with significant alternatives for development focusing on higher-grade, leachable silver ores at low stripping ratios."

New drilling results are as follow. All intercepts are down-hole lengths and true widths have not been calculated.

------------------------------------------------------------------------- Silver Drill Interval (grams Hole Azimuth Inclination Total From To (m) per # (degrees) (degrees) Depth (m) (m) DTH tonne) Lead Zinc (m) (%) (%) ------------------------------------------------------------------------- SA-2C 90 -85 418 1 24 23 52.0 0.3 0.5 ------------------------------------------------------------------------- includes 1 6 5 86.7 0.5 0.4 ------------------------------------------------------------------------- 124 130 6 455.0 0.8 1.2 ------------------------------------------------------------------------- SA-133A 90 -85 461.8 15 106 91 47.6 0.4 0.9 ------------------------------------------------------------------------- includes 18 22 4 117.5 0.3 0.1 ------------------------------------------------------------------------- and 90 94 4 196.0 0.7 1.5 ------------------------------------------------------------------------- 156 170 14 61.6 3.4 1.4 ------------------------------------------------------------------------- includes 158 164 6 118.7 5.7 2.4 ------------------------------------------------------------------------- 224 232 8 81.3 2.0 0.5 ------------------------------------------------------------------------- SA-177 90 -70 165.4 0 62 62 31.0 0.4 0.5 ------------------------------------------------------------------------- 98 144 46 273.7 0.9 1.0 ------------------------------------------------------------------------- includes 98 108 10 1147.6 3.5 2.9 ------------------------------------------------------------------------- 36 108 72 - 0.9 1.5 ------------------------------------------------------------------------- SA-179 90 -70 158.2 6 56 50 40.0 0.3 0.5 ------------------------------------------------------------------------- includes 24 36 12 78.8 0.4 0.6 ------------------------------------------------------------------------- 96 110 14 77.4 0.4 1.1 ------------------------------------------------------------------------- includes 96 100 4 194.5 0.5 1.5 ------------------------------------------------------------------------- 126 128 2 141.0 0.2 0.3 ------------------------------------------------------------------------- 34 108 74 - - 0.9 ------------------------------------------------------------------------- SA-180 90 -70 162.6 10 22 12 40.2 0.2 0.2 ------------------------------------------------------------------------- 44 54 10 - - 1.1 ------------------------------------------------------------------------- SA-181 90 -70 173 8 14 6 69 0.3 0.4 ------------------------------------------------------------------------- 116 122 6 79.7 0.2 0.3 ------------------------------------------------------------------------- 132 140 8 94.3 1.0 1.8 ------------------------------------------------------------------------- TDs in 59g/t Ag ------------------------------------------------------------------------- SA-182 90 -70 183.5 46 62 16 56.9 0.5 0.9 ------------------------------------------------------------------------- includes 50 54 4 110 0.6 0.9 ------------------------------------------------------------------------- 78 126 48 35.5 0.4 0.7 ------------------------------------------------------------------------- includes 118 126 6 77.3 0.2 0.3 ------------------------------------------------------------------------- 142 154 12 52.3 0.2 0.2 ------------------------------------------------------------------------- includes 152 154 2 162 0.4 0.2 ------------------------------------------------------------------------- SA-183 90 -70 194.5 28 190 162 51.6 0.2 0.4 ------------------------------------------------------------------------- includes 28 32 4 269.5 2.3 2.5 ------------------------------------------------------------------------- and 54 60 6 108.3 0.1 0.2 ------------------------------------------------------------------------- and 140 142 2 390.0 0.1 0.4 ------------------------------------------------------------------------- SA-184 90 -70 173.2 8 20 12 47 0.5 0.5 ------------------------------------------------------------------------- SA-185 90 -70 192.5 154 193 39 38.7 0.4 1.0 ------------------------------------------------------------------------- includes 168 174 6 87 0.4 0.8 ------------------------------------------------------------------------- 124 193 69 - - 0.9 ------------------------------------------------------------------------- SA-186 90 -70 150 20 66 46 90.0 0.6 0.9 ------------------------------------------------------------------------- includes 50 66 16 222.3 0.9 0.7 ------------------------------------------------------------------------- 18 56 38 - - 1.0 ------------------------------------------------------------------------- SA-187 270 -60 166 No significant intervals (PMT) ------------------------------------------------------------------------- SA-187A 90 -60 200.5 50 74 24 81.0 0.4 0.7 ------------------------------------------------------------------------- 100 102 2 188.0 0.2 0.7 ------------------------------------------------------------------------- 126 162 36 - - 0.9 ------------------------------------------------------------------------- SA-188 90 -70 166 2 18 16 39.9 0.2 0.3 ------------------------------------------------------------------------- 30 42 12 32.7 0.4 0.9 ------------------------------------------------------------------------- 56 84 28 64.1 0.4 0.6 ------------------------------------------------------------------------- includes 60 72 12 120.2 0.5 0.5 ------------------------------------------------------------------------- 140 160 20 61.4 0.4 0.2 ------------------------------------------------------------------------- includes 150 158 8 102.5 0.3 0.1 ------------------------------------------------------------------------- SA-189 270 -60 172 12 38 26 40.4 0.3 0.4 ------------------------------------------------------------------------- 52 64 12 119.7 0.4 0.5 ------------------------------------------------------------------------- includes 56 62 6 208.3 0.5 0.6 ------------------------------------------------------------------------- SA-189A 90 -70 150 8 30 22 27.2 0.2 0.2 ------------------------------------------------------------------------- SA-190 90 -70 170.8 44 80 36 37.4 0.2 0.5 ------------------------------------------------------------------------- includes 48 58 10 75.6 0.3 0.7 ------------------------------------------------------------------------- 110 112 2 183.0 0.3 0.4 ------------------------------------------------------------------------- SA-191 270 -60 157 22 70 48 47.5 0.2 0.4 ------------------------------------------------------------------------- includes 48 56 8 112.8 0.2 0.5 ------------------------------------------------------------------------- SA-191A 90 -70 131 24 32 8 33.3 0.1 0.4 ------------------------------------------------------------------------- SA-192 90 -70 149.5 58 72 14 - - 0.9 ------------------------------------------------------------------------- SA-193 90 -60 143.8 40 48 8 41.8 0.5 0.8 ------------------------------------------------------------------------- 84 98 14 - - 0.9 ------------------------------------------------------------------------- SA-194 110 -60 133.5 10 18 8 54.5 0.7 0.9 ------------------------------------------------------------------------- 50 72 22 26.3 0.2 0.6 ------------------------------------------------------------------------- SA-194A 290 -60 188 10 84 74 51.4 1.5 1.7 ------------------------------------------------------------------------- includes 66 84 18 131.3 3.5 5.1 ------------------------------------------------------------------------- 118 160 42 21.6 0.6 0.6 ------------------------------------------------------------------------- SA-195 90 -70 112.3 10 32 22 123.9 0.3 0.4 ------------------------------------------------------------------------- SA-196 90 -70 184 84 124 40 71.3 0.4 0.6 ------------------------------------------------------------------------- includes 84 92 8 166.8 0.5 0.8 ------------------------------------------------------------------------- SA-197 90 -70 149 42 60 18 74.9 0.4 0.7 ------------------------------------------------------------------------- 80 122 42 34 0.2 0.5 ------------------------------------------------------------------------- SA-198 90 -70 156 138 144 6 65.3 0.6 1.3 ------------------------------------------------------------------------- (Full drill results can be found at www.bearcreekmining.com. To access the silver drill hole map directly please refer to http://www.bearcreekmining.com/i/pdf/SantaAnamap2009.pdf)

A higher-grade core in the north central part of the current resource (see news release dated September 4th 2008) now measures approximately 250 meters north-south and 150 meters east-west. This core, which outlines a higher-grade starter pit, contains significant intervals of plus one kilo silver (e.g hole SA-177 with 10 meters @ 1148 g/t Ag). Other previously reported holes with intervals containing greater than 1kg silver in this core include SA-22, 29, 124, 125, 154, 133, 135.

Exploration drill holes in the north part of the project continue to intersect blind, higher-grade structures 350 to 400 meters north of the latest resource limit as demonstrated by hole SA-191 with 8 meters @ 112.8 g/t Ag and holes SA-194A and SA-195 that intersected 74 meters @ 51.4 g/t Ag and 22 meters @ 123.9 g/t Ag respectively. This clearly demonstrates the potential for increasing the size and grade of the deposit to the north and northwest along strike.

Mineralization also remains open to the east where drill hole SA 190 intersected two mineralized intercepts on the eastern limits of the resource. While one intercept occurs at 110 meters depth, these results indicate potential for shallower mineralization east of the resource under untested post-mineral cover.

Drilling continues to provide confidence for the expansion of the total resource and the conversion of inferred resources into measured and indicated categories for the third resource estimate to be done in conjunction with the upcoming Preliminary Economic Assessment ("PEA").

Preliminary Economic Assessment/Scoping Study: Completion of the PEA is on-target for Q2 2009. Drilling will likely resume in Q2 '09 with equipment capable of drilling large-diameter drill core for continued metallurgical work designed to evaluate silver recoveries under a variety of crush sizes. Column leach tests indicate recoveries of 70% silver (see news release dated July 21st 2008). Future metallurgical testing will focus on optimizing the recoveries for run-of-mine and coarser crush sizes for cost trade-off studies at the prefeasibility level.

The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release.

Regulatory footnotes:

All of Bear Creek's exploration programs and pertinent disclosure of a technical or scientific nature are prepared by or prepared under the direct supervision of Marc Leduc, P. Eng., Senior Vice President of Engineering and Development and the President and CEO, Andrew Swarthout, P.Geo., who serve as the Qualified Persons under the definitions of NI 43-101. All diamond drilling has been performed using HQ diameter core with recoveries averaging greater than 95%. Core is logged and split on site under the supervision of Bear Creek geologists. Sampling is done on two-meter intervals and samples are transported by Company staff to Juliaca, Peru for direct shipping to ALS Chemex, Laboratories in Lima, Peru. ALS Chemex is an ISO 9001:2000-registered laboratory and is preparing for ISO 17025 certification. Silver, lead, and zinc assays utilize a multi-acid digestion with atomic absorption ("ore-grade assay method"). The QC/QA program includes the insertion every 20th sample of known standards prepared by SGS Laboratories, Lima. A section in Bear Creek's website is dedicated to sampling, assay and quality control procedures.

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 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.

SOURCE Bear Creek Mining Corporation

Source: PR Newswire

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