Bear Creek Mining Corporation
TSX VENTURE : BCM

Bear Creek Mining Corporation

October 19, 2010 09:14 ET

Bear Creek Mining Corporation-Announces Increase to Previously Announced Bought Deal Financing to C$113 Million

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Oct. 19, 2010) -

NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR DISSEMINATION IN THE UNITED STATES.

Bear Creek Mining Corporation ("Bear Creek" or the "Company") (TSX VENTURE:BCM) has announced today that, due to strong demand, the Company has increased the size of its previously announced public offering to 17,650,000 common shares (the "Common Shares"), at a price of $6.40 per Common Share for gross proceeds of $112,960,000 (the "Offering"). The Offering is being led by BMO Capital Markets. In addition, the Company has granted the Underwriters an option, exercisable at the issue price for a period of 30 days following the closing of the Offering, to purchase up to an additional 15% of the Offering to cover over-allotments, if any. The Offering is expected to close on or about November 5, 2010 and is subject to Bear Creek receiving all necessary regulatory approvals.

The Company intends to use the net proceeds from the Offering to fund the exploration and development of the Company's Corani and Santa Ana silver projects in Peru and for general working capital purposes.

The securities offered have not been registered under the U.S. Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements. This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in any State in which such offer, solicitation or sale would be unlawful.

For further information, please visit the Company's website (www.bearcreekmining.com)

Regulatory footnotes:

All of Bear Creek's exploration programs and pertinent disclosure of a technical or scientific nature are prepared by or prepared under the direct supervision of Marc Leduc, P. Eng., Chief Operating Office, Christian Rios, P. Geo., Manager of Exploration and the President and CEO, Andrew Swarthout, P. Geo., who serve as the Qualified Persons under the definitions of NI 43-101.

Certain disclosure in this release, including management's assessment of Bear Creek's plans and projects, constitutes forward-looking statements that are subject to numerous risks, uncertainties and other factors relating to Bear Creek's operation as a mineral exploration company that may cause future results to differ materially from those expressed or implied in such forward-looking statements. Readers are cautioned not to place undue reliance on forward-looking statements. Bear Creek expressly disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Contact Information

  • Bear Creek Mining Corporation
    Andrew Swarthout
    President and CEO
    604-685-6269 or Direct: 604-628-1111
    or
    Bear Creek Mining Corporation
    Patrick De Witt
    Investor Relations
    604-685-6269 or Direct: 604-628-1111
    info@bearcreekmining.com
    www.bearcreekmining.com