Bear Creek Mining

Bear Creek Mining Announces Q1 2024 Mercedes Production Of 12,228 Ounces Of Gold
April 17, 2024

Average Q1 2024 gold grades 33% higher than 2023 full year average and
development advances continue at improved pace

April 17, 2024, Vancouver, British Columbia - Bear Creek Mining Corporation (TSXV: BCM) (OTCQX: BCEKF) (BVL: BCM) (“Bear Creek” or the “Company”) announces it produced 12,228 ounces of gold and 44,040 ounces of silver from the Mercedes Mine (“Mercedes”) during the three months ended March 31, 2024 (“Q1 2024”).

Eric Caba, President and CEO of Bear Creek, states, “I am very pleased that the progress made at Mercedes in the fourth quarter of 2023 has continued into 2024.  Increasing the grade and reducing dilution has allowed us to reduce costs while maintaining the higher level of production. We are still working through a historical development deficit, but the efforts of the technical staff and management at Mercedes are bearing fruit.  While some challenges continue to lie ahead, we are confident that Mercedes can ultimately fulfill its intended role within the Company.”

https://bearcreekmining.com/news/2024/...on-of-12-228-ounces-of-gold/  

Bear Creek Mining Reports 2023 Year End Financial And Operating Results
April 30, 2024

April 30, 2024, Vancouver, B.C. –  Bear Creek Mining Corporation (“Bear Creek” or the “Company”) (TSXV: BCM) (OTCQX: BCEKF) (BVL: BCM) reports its annual consolidated financial results for the year ended December 31, 2023.

This news release should be read in conjunction with the Company’s audited consolidated financial statements and management discussion and analysis (“MD&A”) for the three months and year ended December 31, 2023, which are available on SEDAR+ (www.sedarplus.ca) and the Company’s website (www.bearcreekmining.com). Monetary amounts in this news release are in United States dollars unless otherwise stated.

Highlights

2023 marked Bear Creek’s first full year of ownership in and operation of the Mercedes gold mine (“Mercedes”), located in Sonora, Mexico. Over the course of the year the Company identified and overcame significant challenges inhibiting the Mercedes’ performance, and made substantial changes to major financial and production obligations and to its management and staff that the Company believes will result in an improved outlook for Mercedes’ performance and the Company’s future. Key milestones include:

   Significantly enhancing the executive management team and senior Mercedes mine staff;
   Producing 43,860 oz Au and 167,019 oz Ag over the course of the year;
   Refreshing the Board of Directors (the “Board”);
   Converting a $26.6 million current liability into a long term convertible debenture;
   Fulfilling the obligation on the approximately 300 ounce per month Nomad Gold Stream;
   Restructuring the remaining Mercedes metal streams, reducing gold deliverables by 325 ounces per month and silver deliverables to nil until April 2028 and increasing the cash payments for both;
   Amending the terms of the $22.5 million Sandstorm convertible debenture entered into on December 16, 2021, and extending its maturity date;
   Completing a private placement and a bought deal financing totaling CDN$17.7 million;
   Making substantial technical changes at Mercedes to improve operating performance;
   Enacting measures to overcome historical geotechnical challenges and development deficits at Mercedes; and
   Significantly improving Mercedes production in the fourth quarter of 2023 as a result of these foundational changes, with recent production records achieved in December 2023.

https://bearcreekmining.com/news/2024/...ncial-and-operating-results/  

Bear Creek Mining Reports Q1 2024 Financial and Operating Results
May 29, 2024

May 29, 2024, Vancouver, B.C. – Bear Creek Mining Corporation (“Bear Creek” or the “Company”) (TSXV: BCM) (OTCQX: BCEKF) (BVL: BCM) reports its interim condensed consolidated financial results for the three months ended March 31, 2024 (“Q1 2024”).

This news release should be read in conjunction with the Company’s interim condensed consolidated financial statements and management discussion and analysis (“MD&A”) for the three months ended March 31, 2024, which are available on SEDAR+ (www.sedarplus.ca) and the Company’s website (www.bearcreekmining.com). Monetary amounts in this news release are in United States dollars unless otherwise stated and all capitalized terms herein have the same meaning as defined in the Q1 2024 financial statements.

Highlights

Key milestones that occurred during and subsequent to the end of Q1 2024 include:

   Production of 12,228 oz of gold and 44,040 oz of silver;
   Closing the Restructuring Agreement with Sandstorm Gold Ltd. (“Sandstorm”) on January 22, 2024 which included:
       Restructuring the Mercedes metal streams, reducing gold deliverables from 600 to 275 ounces per month and silver deliverables from 100% to nil until April 2028 and increasing the cash payments for both to 25% of spot prices;
       Amending the terms of the $22.5 million Sandstorm Convertible Debenture entered into on December 16, 2021, and extending its maturity date;
       Granting a net smelter return (“NSR”) royalty on the Corani asset; and
       Issuing share consideration to Sandstorm.
   Continuing to make substantial technical changes at Mercedes to improve operating performance;
   Enacting measures to overcome historical geotechnical challenges and development deficits at Mercedes;
   Appointing Zoya Shashkova to the position of Chief Financial Officer effective March 18, 2024; and,
   Receiving final approval for the Restructuring Agreement by the TSX Venture Exchange (“TSX-V”) on April 30, 2024.

Selected Q1 2024 Financial and Production Results

Bear Creek’s Mercedes gold mine, located in Sonora, Mexico, produced 12,228 ounces of gold and 44,040 ounces of silver during the three months ended March 31, 2024. During this period 12,679 ounces of gold were sold, of which 825 ounces of gold were delivered under streaming arrangements. Cash cost and all-in-sustaining cost (“AISC”) per ounce of gold sold were $1,183 and $1,588, respectively. See “Non-GAAP Financial Measures”, below.

...

https://bearcreekmining.com/news/2024/...ncial-and-operating-results/  

Bear Creek Mining Announces Results of Annual General Meeting and Appointment of Officers


June 7, 2024

June 7, 2024, Vancouver, B.C. - Bear Creek Mining Corporation (“Bear Creek” or the “Company”) (TSXV:BCM) (OTCQX:BCEKF) (BVL:BCM) is pleased to announce the results of the Company’s Annual General Meeting (“AGM”) that took place in Vancouver, BC on June 6, 2024. Shareholders voted in favour of all matters of business described in the Company’s Information Circular dated April 19, 2024 and put before the meeting, including the election of Susan Toews and Sandra Daycock and the re-election of Catherine McLeod-Seltzer, Eric Caba, Andrew Swarthout, Kevin Morano, and Alan Hair as directors of the Company for the ensuing year. Alfredo Bullard, a director of Bear Creek since 2019, did not stand for re-election at the meeting. The Board thanks Mr. Bullard for his service to the Company.

Shareholders also confirmed, ratified and approved the Company’s 10% Rolling Stock Option Plan dated April 26, 2022 (the “2022 Plan”), and approved the re-appointment of PricewaterhouseCoopers LLP as the Company’s auditors for the ensuing year.

Following the AGM Bear Creek’s board of directors (the “Board”) appointed Catherine McLeod-Seltzer as Chair,  Eric Caba as President and Chief Executive Officer, Zoya Shashkova as Chief Financial Officer, Brian Peer as Chief Operating Officer, Barbara Henderson as Vice President Corporate Communications and Corporate Secretary and Eduard Roux as Vice President Project Development. The Board additionally constituted its standing committees for the ensuing year including the Audit, Compensation, Nominating and Corporate Governance, and Operating, Safety and Sustainability Committees.

On behalf of the Board of Directors,

Eric Caba
President and CEO

For further information contact:
Barbara Henderson - VP Corporate Communications
Direct: 604-628-1111
E-mail: barb@bearcreekmining.com  
www.bearcreekmining.com  

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