SOURCE: Baja Mining Corp.

Baja Mining Corp.

August 25, 2014 19:09 ET

MMB Secures US$50 Million Bank Loan to Progress With First Copper Production in Q4 2014

VANCOUVER, BC--(Marketwired - August 25, 2014) - Baja Mining Corp. ("Baja" or the "Company") (TSX VENTURE: BAJ) (OTCQB: BAJFF) announces that it has been advised by Minera y Metalúrgica del Boleo, S.A. P.I. de C.V. ("MMB") and Korea Resources Corporation ("KORES") that MMB has secured additional bank financing of US$50 million in the form of a corporate loan, repayable in one year and bearing interest at LIBOR plus 0.8% (the "Bank Loan"). As referenced in the Company's news release on August 15, 2014, MMB is working to secure additional external financing of up to US$200 million, including the Bank Loan, for completion of the Boleo construction and working capital until production reaches a normalized level.

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

CAUTIONARY NOTE REGARDING FORWARD LOOKING STATEMENTS: This press release contains forward-looking statements or forward-looking information (forward-looking statements). These statements can be identified by expressions of belief, expectation or intention, as well as those statements that are not historical fact. Forward-looking statements involve a number of risks, uncertainties and assumptions that could cause actual results or events to differ materially from those expressed or implied by the forward-looking statements. Forward-looking statements contained in this press release are based on our current estimates, expectations and projections, which the Company believes are reasonable as of the current date. Actual results could differ materially from those anticipated or implied in the forward-looking statements and as a result undue reliance should not be placed on forward-looking statements. Additional risks and uncertainties can be found in the Company's reporting documents filed on SEDAR (www.sedar.com), including its Management Discussion and Analysis and Annual Information Form. Forward-looking statements are given only as at the date of this press release and the Company disclaims any obligation to update or revise the forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.

Contact Information

  • For further information, please contact

    Tom Ogryzlo
    Interim CEO
    604‐685‐2323
    info@bajamining.com