Baja Mining Corp.

Baja Mining Corp.

March 21, 2005 14:33 ET

Baja Mining Corp.: Private Placement


NEWS RELEASE TRANSMITTED BY CCNMatthews

FOR: BAJA MINING CORP.

TSX VENTURE SYMBOL: BAJ

MARCH 21, 2005 - 14:33 ET

Baja Mining Corp.: Private Placement

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - March 21, 2005) - John
Greenslade, President of Baja Mining Corp. (TSX VENTURE:BAJ) (the
"Company"), is pleased to announce that further to a private placement
of C$1.2 Million with Fondel B.V. Finance of Rotterdam, subject to TSX
Venture Exchange approval, the Company has accepted a subscription
agreement for an additional private placement of 80,000 Units at a price
of $0.75 per Unit for proceeds of $60,000 from Mr. Carl Pescio,
Exploration Geologist of Elko, Nevada. Each Unit will consist of one
common share and on-half share purchase warrant. Each whole warrant will
entitle Mr. Pescio to purchase a further common share at a price of
$1.15 per share. The period to exercise this warrant right will be for a
minimum of 2 years ( or such greater period, to a maximum of 5 years as
the TSX Venture Exchange may permit). In the event the Company enters
into any agreements for further third party equity placements in the
immediate future at a lower issue price the current placement pricing
will be reduced accordingly.

On behalf of the Board of Directors

John Greenslade, President

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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 neither approved nor disapproved of the
    contents of this press release.