Baja Mining Corp.
TSX : BAJ

Baja Mining Corp.

August 21, 2007 13:51 ET

Baja Mining Granted Essential Land Use Permits

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Aug. 21, 2007) - Baja Mining Corp. (the "Company") (TSX:BAJ) is pleased to announce that it has been advised by the Mexican Secretariat for the Environment and Natural Resources (SEMARNAT) that it has authorized the change in land use for the property on which the Boleo Project will be developed as per the requirements of the Mexican Law for Sustainable Forestry Development. This authorization involves payment of approximately US$550,000 in compensatory duties to the National Commission for Forestry (CONAFOR) to be applied in rehabilitation projects in the State of Baja California Sur.

The granting of this authorization is a crucial step in the progress of El Boleo and construction activities can now proceed. The granting of this permit reconfirms that El Boleo is feasible from an environmental, as well as an economic, perspective. Issuance of the permit came earlier than expected and will allow for an expedited start up of construction activities. The Company's construction contractor is now mobilizing their crew to start cacti relocation from areas where the surface will be disturbed due to site construction activities.

The Company recognizes the continued support of the Mexican State and Federal authorities that have allowed the Company to jointly work in making this project a reality, particularly: the State Governor of Baja California Sur, Mr. Narciso Agundez M.; the State Secretary for Economic Development, Mr. Jorge Alberto Vale M.; and the President of the Municipality of Mulege, Mr. Pedro G. Osuna L.

The Company has completed a Definitive Feasibility Study (DFS) on its 100% owned Boleo Property, Baja California Sur, Mexico. The Company is well advanced in construction financing under the direction of its financial advisors, Endeavour Financial International Corporation, and will be proceeding to break ground for construction of El Boleo copper/cobalt/zinc/manganese project later this year.

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

JOHN W. GREENSLADE, PRESIDENT

Some of the statements contained in this release are forward-looking statements, such as statements that describe the Company's expected timing expected timing for commitment of construction financing and other statements. Since forward-looking statements are not statements of historical fact and address future events, conditions and expectations, forward-looking statements by their nature inherently involve unknown risks, uncertainties, assumptions and other factors well beyond the Company's ability to control or predict. Actual results and developments may differ materially from those contemplated by such forward-looking statements. Material factors that could cause actual revenues to differ materially from those contained in such forwarding-looking statements include (i) fluctuations on the prices of copper, cobalt, zinc and manganese, (ii) interpretation of contract terms, (iii) accuracy of the Company's and consultants' projections, (iv) the Company's ability to finance, receive permits for, obtain equipment, construct and develop the El Boleo Project, (v) the effects of weather; operating hazards; adverse geological conditions and global warming, (vi) impact of availability of labor, materials and equipment; and (vii) changes in governmental laws, regulations, economic conditions or shifts in political attitudes or stability.

These forward-looking statements represent the Company's views as of the date of this release. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Readers should not place undue reliance on any forward-looking statements.

Contact Information

  • Baja Mining Corp.
    John Greenslade
    President
    (604) 685-2323
    (604) 629-5228 (FAX)
    Website: www.bajamining.com