Baja Mining Corp.

Baja Mining Corp.

March 31, 2005 08:00 ET

Baja Mining Corp.: New Resource Estimate Study El Boleo Copper-Cobalt-Zinc Project


NEWS RELEASE TRANSMITTED BY CCNMatthews

FOR: BAJA MINING CORP.

TSX VENTURE SYMBOL: BAJ

MARCH 31, 2005 - 08:00 ET

Baja Mining Corp.: New Resource Estimate Study El
Boleo Copper-Cobalt-Zinc Project

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - March 31, 2005) - Baja
Mining Corp. (TSX VENTURE:BAJ) (the "Company") as part of the current
Definitive Feasibility Study currently being conducted under the
direction of study engineers Bateman Engineering Inc. Canada,
commissioned geological consultants Hellman & Schofield Pty. Ltd.(H&S),
of Sydney, Australia, in late 2004 to develop a computerized 3D digital
resource model of the Company's 100% owned El Boleo copper/cobalt/zinc
deposit.

The Boleo Property consists of 16 contiguous mineral concessions
covering 18,864.1872 hectares. These include seven titled exploitation
and nine titled exploration concessions. One exploration concession is
in the process of becoming titled. The project also includes three
surface lots which total 6,692.58 hectares and covers all known
resources.

Deposits of copper-cobalt-zinc mineralization at Boleo occur within
widespread, stratiform clay-rich horizons or beds known as "mantos"
(manto is a Spanish term used in mining parlance for a general
mineralized layer or stratum). Within Boleo formation stratigraphy there
are seven identified mantos, including two of very limited extent, that
occur as relatively flat to generally shallow dipping, stratabound and
stratiform beds. These include, with increasing depth, manto 0, 1, 2,
3AA, 3A, 3 and 4, whilst recent work has suggested a possible 8th manto,
4A above manto 4. Historically the major producing manto has been manto
3, which yielded approximately 83% of historic production between 1886
and 1985, when the original mine was shut down. Most of the remaining
production has come from manto 1 in the southeast portion of the Boleo
area where manto 3 is absent. A small amount of production has come from
the widespread but generally thin manto 2 while an even smaller level of
production has come from the relatively restricted manto 3A. The H&S
resource model indicates that the mantos which still offer the most
potential for hosting significant economic reserves are manto 1 and
manto 3.

In a report dated March 2005, prepared by Qualified persons, William
Yeo, MAusIMM, PhD., and Phillip Hellman, FAIG, PhD., of Hellman &
Schofield (the "H&S Report"), in accordance with national instrument
43-101, Hellman & Schofield reported a Measured and Indicated resource
estimates based on copper equivalent cut-off grades utilizing metal
prices of copper (Cu) US $0.95 per pound, cobalt (Co) US $12 per pound,
and zinc (Zn) US $0.45 per pound, and defined as Cu Equiv equals Cu plus
Co x 12/0.95 plus Zn x 0.45/0.95, as follows:



--------------------------------------------------------------------
--------------------------------------------------------------------
Cu Equiv Cut-off Grade 0.5% 1.0% 1.5% 2.0%
--------------------------------------------------------------------
Measured Tonnes
(millions) 51.7 45.7 35.3 24.7
--------------------------------------------------------------------
CuEq % 2.09 2.26 2.56 2.91
--------------------------------------------------------------------
Cu % 0.76 0.83 0.99 1.18
--------------------------------------------------------------------
Co % 0.089 0.096 0.107 0.119
--------------------------------------------------------------------
Zn % 0.45 0.46 0.47 0.47
--------------------------------------------------------------------

--------------------------------------------------------------------
Indicated Tonnes
(millions) 172.1 114.1 65.4 36.1
--------------------------------------------------------------------
CuEq % 1.49 1.86 2.33 2.82
--------------------------------------------------------------------
Cu % 0.57 0.78 1.09 1.46
--------------------------------------------------------------------
Co % 0.050 0.061 0.072 0.081
--------------------------------------------------------------------
Zn % 0.58 0.66 0.68 0.68
--------------------------------------------------------------------

--------------------------------------------------------------------
Total Tonnes
(millions) 223.8 159.8 100.7 60.8
--------------------------------------------------------------------
CuEq % 1.63 1.97 2.41 2.86
--------------------------------------------------------------------
Cu % 0.62 0.79 1.06 1.35
--------------------------------------------------------------------
Co % 0.059 0.071 0.084 0.097
--------------------------------------------------------------------
Zn % 0.55 0.60 0.61 0.61
--------------------------------------------------------------------
--------------------------------------------------------------------

The additional Inferred Resource, based on the same copper equivalent
criteria, is:

--------------------------------------------------------------------
--------------------------------------------------------------------
Cu Equiv Cut-off Grade 0.5% 1.0% 1.5% 2.0%
--------------------------------------------------------------------
Inferred Tonnes
(millions) 310.3 188.13 112.34 65.6
--------------------------------------------------------------------
CuEq % 1.47 1.95 2.43 2.94
--------------------------------------------------------------------
Cu % 0.57 0.83 1.14 1.51
--------------------------------------------------------------------
Co % 0.045 0.057 0.067 0.074
--------------------------------------------------------------------
Zn % 0.69 0.85 0.95 1.03
--------------------------------------------------------------------
--------------------------------------------------------------------


The full text of the H&S Report is in the process of being filed under
the Company's profile at www.sedar.com.

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
    Investor Relations Department
    (604) 683-5774
    or
    Baja Mining Corp.
    Tom Byrne
    Investor Relations Department
    (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.