Baja Mining Corp.

Baja Mining Corp.

March 22, 2005 08:00 ET

Baja Mining Corp.: Financial Advisory Services Agreement Entered into with Endeavour Financial International Corporation


NEWS RELEASE TRANSMITTED BY CCNMatthews

FOR: BAJA MINING CORP.

TSX VENTURE SYMBOL: BAJ

MARCH 22, 2005 - 08:00 ET

Baja Mining Corp.: Financial Advisory Services
Agreement Entered into with Endeavour Financial
International Corporation

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - March 22, 2005) - Baja
Mining Corp. (TSX VENTURE:BAJ)

John Greenslade, President of Baja Mining Corp. (the "Company"), is
pleased to advise that the Company has retained Endeavour Financial
International Corporation ("Endeavour") on an exclusive basis to provide
general corporate financial advice with respect to the financing and
development of the Boleo copper/cobalt/zinc Project, Baja California
Sur, Mexico. Endeavour will work closely with management to identify and
implement various transactions relating to the financing of the Boleo
Project, which may include, but are not limited to: project finance,
corporate debt finance, convertible debt, off-take finance, metal loans,
mezzanine finance, bridge loans or equity. Remuneration under the
contract is confidential but will include, subject to regulatory
approval, the granting to Endeavour of options to purchase up to
1,000,000 shares of the Company at a price of $0.75 per share for a
period of five years. The option price may be reduced if the Company
completes a private placement in the immediate future at a lower price.

Endeavour is a private independent investment banking firm with a
history of achieving success for its clients based on its resource
industry focus, innovative transaction skills and the diverse
professional backgrounds of its team. Recently, Endeavour has assisted
its clients in raising over US $1.9 billion of financing in the debt and
equity markets and has advised on over US $4 billion of mergers and
acquisitions.

The Company is currently proceeding to complete a Definitive Feasibility
Study ("DFS") on the Boleo copper/cobalt/zinc Project, under the
direction of Bateman Engineering Inc. Canada, to determine the
feasibility of constructing an underground mine and hydrometallurgical
plant designed to produce approximately 50,000 tonnes per annum of
copper cathode, 2100 tonnes of cobalt cathode and approximately 23,000
tonnes of zinc sulphate. The DFS is anticipated to be completed by the
end of 2005. As part of the DFS, the Company has received a "Resource
Estimate Study" by geological consultants Hellman & Schofield Pty. Ltd.,
of Sydney, Australia, dated January 2005 which will be the subject of a
separate news release in the immediate future.

ON BEHALF OF THE BOARD OF DIRECTORS OF BAJA MINING CORP.

JOHN W. GREENSLADE, PRESIDENT

The statements made in this News Release may contain certain
forward-looking statements. Actual events or results may differ from the
Company's expectations. Certain risk factors may also affect the actual
results achieved by the Company.

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Contact Information

  • FOR FURTHER INFORMATION PLEASE CONTACT:
    Baja Mining Corp.
    John Greenslade
    President
    (604) 685-2323
    (604) 688-0426 (FAX)
    or
    Baja Mining Corp.
    Conrad Clemiss or Tom Byrne
    Investor Relations
    (604) 683-5774
    www.bajamining.com
    The TSX Venture Exchange has not reviewed and does not accept
    responsibility for the adequacy or accuracy of this release.