More positive drill results continue to expand Corani silver deposit; New silver and base metals discoveries open potential to the west



    VANCOUVER, Jan. 31 /CNW/ - Bear Creek Mining (TSX Venture: BCM) ("Bear
Creek" or the "Company") is pleased to announce results for thirty-seven
additional drill holes (6,024 meters) from the Corani project. These results
represent all of the holes drilled since the recently updated resource
estimation (see news release 5 December 2006) on this major silver discovery.
The total drilling completed on the property now stands at 67,823.6 meters in
410 holes, including 4 additional metallurgical test holes drilled in December
2006. Highlights of this release include:

    
    -   Corani Este: Drilling continues to expand silver mineralization to
        the northwest under post-mineral tuff with C173A with 86 meters
        averaging 64.6 g/t silver, including 18 meters averaging 104.8 g/t
        silver

    -   Minas Corani: Drilling between east and west limbs intersects
        14 meters averaging 143 g/t Ag, 2.1% Pb and 6.6% Zn

    -   Minas Corani: Infill drilling includes C-178 with 63 meters averaging
        79.4 g/t silver, including 16 meters averaging 128.0 g/t silver, and
        C184A with 87 meters averaging 60.5 g/t, including 42 meters at
        80.7 g/t silver

    -   Mineralization remains open in all deposits

    Andrew Swarthout, President and CEO, stated, "Exploration drilling under
post-mineral cover continues to show that mineralization remains open to the
west and north of the three principle outcropping deposits that host the
silver-base metals resources reported last month. This confirms the potential
for additional discoveries within this still under-explored district where the
world-class resources defined to date are flanked on almost all sides by thin
cover (To access the Corani District Exploration Potential Map directly please
refer to:

    http://www.bearcreekmining.com/s/PhotosAndMaps.asp?ReportID=168832)

    New discoveries will likely be "blind" targets that will be found either
under the post mineral tuff or in the large color anomaly where we have only
drill tested 10% of the area. Drilling aimed at increasing resources is
ongoing in conjunction with scoping study and pre-feasibility work."

    THE LATEST DRILL HOLE RESULTS ARE AS FOLLOWS:

                                 CORANI ESTE
    -------------------------------------------------------------------------
                                                 Interval Silver
                      Inclin- Total                 (m)  (grams
    Drill    Azimuth   ation  Depth  From    To    True   per    Lead   Zinc
    Hole No.(degrees)(degrees) (m)    (m)    (m)   Width  tonne)  (%)    (%)
    -------------------------------------------------------------------------
    C-167      250      -70    260    155    212     57    40.0   0.4    0.1
    -------------------------------------------------------------------------
    includes                          184    200     16    79.1   0.3    nil
    -------------------------------------------------------------------------
    C-167A      70      -80    261    149    226     77    45.7   0.3    nil
    -------------------------------------------------------------------------
    C-170      250      -70    248     95    140     45    64.6   0.4    nil
    -------------------------------------------------------------------------
    includes                          102    120     18    80.6   0.5    nil
    -------------------------------------------------------------------------
    C-170A      70      -70    215    110    182     72    35.1   0.9    0.3
    -------------------------------------------------------------------------
    C-173      250      -70    236    158    190     32    35.6   0.3    nil
    -------------------------------------------------------------------------
    C-173A      70      -70    256    158    244     86    64.6   0.6    0.1
    -------------------------------------------------------------------------
    includes                          194    212     18   104.8   0.4    0.1
    -------------------------------------------------------------------------
    and                               220    230     10   129.2   1.7    0.1
    -------------------------------------------------------------------------
    C-176      250      -70    299            No significant intervals
    -------------------------------------------------------------------------



                                 MAIN CORANI
    -------------------------------------------------------------------------
                                                 Interval Silver
                      Inclin- Total                 (m)  (grams
    Drill    Azimuth   ation  Depth  From    To    True   per    Lead   Zinc
    Hole No.(degrees)(degrees) (m)    (m)    (m)   Width  tonne)  (%)    (%)
    -------------------------------------------------------------------------
    C-174       70      -70    108     38    106     68    28.4   0.9    0.8
    -------------------------------------------------------------------------
    C-174A     250      -70    142      2      8      6     125   5.1    1.0
    -------------------------------------------------------------------------
                                       42     48      6      78     1    0.2
    -------------------------------------------------------------------------
                                       92    102     10    17.8   0.4    0.9
    -------------------------------------------------------------------------



                              MINAS CORANI ZONE

    -------------------------------------------------------------------------
                                                 Interval Silver
                      Inclin- Total                 (m)  (grams
    Drill    Azimuth   ation  Depth  From    To    True   per    Lead   Zinc
    Hole No.(degrees)(degrees) (m)    (m)    (m)   Width  tonne)  (%)    (%)
    -------------------------------------------------------------------------
    C-162A     250      -70    233    146    188     42    26.9   1.1    0.7
    -------------------------------------------------------------------------
    C-168       70      -70    141            No significant intervals
    -------------------------------------------------------------------------
    C-168A     250      -70    156     44     54     10    30.8   0.4    0.1
    -------------------------------------------------------------------------
    C-169       70      -70     70     44     46      2     102   0.7    0.7
    -------------------------------------------------------------------------
    C-169A     250      -70     82     60     76     16    24.8   0.8    1.0
    -------------------------------------------------------------------------
    C-171       70      -45    147     90    106     16    26.9   0.6    0.5
    -------------------------------------------------------------------------
    C-171A      70      -70    115     82     96     14    18.6   0.4    1.0
    -------------------------------------------------------------------------
    C-172       70      -45    214     20     58     38    41.2   0.2    0.1
    -------------------------------------------------------------------------
    includes                           20     32     12      74   0.3    0.2
    -------------------------------------------------------------------------
    C-172A      70      -70    176            No significant intervals
    -------------------------------------------------------------------------
    C-175       70      -70    173            No significant intervals
    -------------------------------------------------------------------------
    C-175A     250      -70    185            No significant intervals
    -------------------------------------------------------------------------
    C-177       70      -70    158     62     72     10     141   0.4    0.2
    -------------------------------------------------------------------------
                                      138    144      6      35   0.3    2.5
    -------------------------------------------------------------------------
    C-177A     250      -70    120     68     72      4    48.5   2.3    0.2
    -------------------------------------------------------------------------
    C-178      250      -70    132     11     74     63    79.4   1.1    0.2
    -------------------------------------------------------------------------
    includes                           18     34     16   128.5   1.9    0.5
    -------------------------------------------------------------------------
    C-178A      70      -70    114     11     64     53    34.7   0.4    nil
    -------------------------------------------------------------------------
    C-180       70      -70    112      0     96     96    25.3   1.1    0.5
    -------------------------------------------------------------------------
    includes                           76     90     14    47.7   1.3    0.6
    -------------------------------------------------------------------------
    C-180A     250      -70    158      0     46     46    27.6   2.2    0.2
    -------------------------------------------------------------------------
    includes                            8     20     12    63.3   3.7    0.4
    -------------------------------------------------------------------------
    C-181       70      -70    233     10     56     46    68.4   0.7    0.1
    -------------------------------------------------------------------------
                                      124    130      6    68.0   0.8    3.0
    -------------------------------------------------------------------------
                                      148    162     14   143.3   2.1    6.6
    -------------------------------------------------------------------------
                                      200    202      2   103.0   1.0    1.2
    -------------------------------------------------------------------------
    C-181A     250      -70    105      9     62     53    42.5   0.6    0.1
    -------------------------------------------------------------------------
    includes                           24     38     14   100.4   1.6    0.1
    -------------------------------------------------------------------------
    C-182       70      -70    140     56     76     20     8.5   0.2    0.7
    -------------------------------------------------------------------------
                                       88    102     14    11.3   0.1    0.6
    -------------------------------------------------------------------------
    C-182A     250      -60    127      0     40     40    25.2   0.9    0.6
    -------------------------------------------------------------------------
    C-183      250      -50    139     72    132     60    18.0   0.1    0.4
    -------------------------------------------------------------------------
    C-183A      70      -70    164            No significant intervals
    -------------------------------------------------------------------------
    C-184       70      -70    154      0    146    146    28.8   0.4    0.2
    -------------------------------------------------------------------------
    includes                           14     26     12    53.8   0.3    0.1
    -------------------------------------------------------------------------
    and                               128    132      4   126.5   1.6    2.4
    -------------------------------------------------------------------------
    C-184A     250      -70    133      3     90     87    60.5   0.6    0.1
    -------------------------------------------------------------------------
    includes                           22     64     42    80.7   0.8    0.1
    -------------------------------------------------------------------------
    C-185      250      -70    118            No significant intervals
    -------------------------------------------------------------------------
    

    (Please refer to Bear Creek's website at www.bearcreekmining.com for
drill hole locations, trench assay maps, previously reported drill intervals
and detailed assay results. To access the silver drill hole map directly
please refer to:
http://www.bearcreekmining.com/s/PhotosAndMaps.asp?ReportID=168831)

    Corani Este - Drilling continues to show that the mineralized system
extends to the northwest under post-mineral cover at the head of the glacial
valley with drill holes offsetting the positive results from the C125 and C126
series of holes (see news release 10 October 2006). Drill hole C173A
intersected a significant interval of silver mineralization (86m at 64.6g/t
Ag, including 18m at 104.8 g/t Ag) located to the northwest of the head of the
glacial valley 125 meters northwest of the limits of the previous resource
estimation. Additional drilling is in progress to the north and southwest to
extend this mineralization where it remains open.

    Minas Corani - Infill drilling at Minas confirms the recent resource
estimate with drill hole C178 averaging 63m at 79.4g/t silver, including 16m
at 128.0g/t silver, and drill hole C184A intersecting 87m at 60.5g/t silver,
including 42m at 80.7 g/t silver. Additionally, two holes located on opposite
extremes of Minas, to the southwest and northeast have intersected 44m at 1.1%
zinc (C177 from 100m to 144m) and 16m at 1.1% zinc (C180 from 84m to 100m),
expanding the potential to add significant zinc resources to the Corani silver
resources. Continued drilling beyond the limits of the current defined
resource at Minas Corani will offset good intersections, such as drill hole
C152A which intersected 83m averaging 79.6g/t silver. Importantly, drill hole
hole C181, which in fills the area between the East and West limbs of Minas
Corani, encountered an aggregate mineralized section of 68 meters at 84.8 g/t
Ag, 1.0% Pb and 1.7% zinc in four separate zones.

    New Zone - Drill hole C172 intersected 38m at 41.2g/t silver and
indicating that additional drilling along strike to the northwest under thin
cover is needed to fully evaluate the area where surface sampling has defined
a 700m x 300m zone of quartz and stock work veining in pre-mineral tuff with
grades up to 100 g/t Ag and up to 0.5 g/t gold. Drilling in this newly
discovered area continues. Post-mineral cover to the west of Minas Corani and
Main Corani likely contains additional untested targets.

    Corani Main- Hole C174 intersected 44m (from 60m to 104m) at 1.2% zinc,
opening up a new area of zinc mineralization on the far northeast corner of
Main that could coalesce with the zinc drilled on the south edge of Minas (e.g
C151A with 22 m at 1.0% zinc).

    Stibnite Zone - Two scout holes have been drilled in the stibnite zone,
located to the east-southeast of the gold zone, with anomalous silver
intersected over narrow widths (e.g. C179, 6m with 24.3g/t silver).. The
entire hematite-rich color anomaly associated with the stibnite mineralization
measures 1500m in diameter and additional drilling is warranted to further
test this large altered and mineralized target area.
    Two drills continue on the project focused on exploring extensions under
cover in both the Corani Este and Minas Corani targets and initial
condemnation drilling at proposed tailings and waste sites.

    Metallurgical Testing - Four additional large-diameter HQ drill holes
were completed in December 2006 and the split core was forwarded to SGS -
Lakefield Research in Canada under the supervision of Transmin Metallurgical
Consultants (Lima) for compositing and advanced metallurgical testing. The
test work will focus on areas identified in the preliminary mine plan as
high-grade feed accessible for the first years of production. Test work is
being designed to build upon the positive results in previous testing to
further optimize recoveries in silver, lead, and zinc for the purposes of
advancing a preliminary feasibility study. Test work has commenced on two
composites and results are expected in the next month.

    For the development of the scoping study, Bear Creek will be utilizing
the results from the metallurgical tests being performed at Lakefield Research
to further define the process components of the project which will allow us to
estimate the process flow sheet, recoveries and costs associated with the
processing methods with a higher degree of precision.

    The TSX Venture Exchange does not accept responsibility for the adequacy
    or accuracy of this release.

    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 David Volkert, P.Geo., Bear Creek's Vice President of
Exploration, who serves as the qualified person (QP) under the definitions of
National Instrument 43-101. All diamond drilling has been performed using HQ
diameter core with recoveries averaging greater than 95%. Core is logged and
split on site under the supervision of Bear Creek geologists. Sampling is done
on two-meter intervals and samples are transported by Company staff to Cusco,
Peru for direct shipping to ALS Chemex, Laboratories in Lima, Peru. ALS Chemex
is an ISO 9001:2000-registered laboratory and is preparing for ISO 17025
certification. Silver, lead, and zinc assays utilize a multi-acid digestion
with atomic absorption ("ore-grade assay method"). The QC/QA program includes
the insertion every 20th sample of known standards prepared by SGS
Laboratories, Lima. A section in Bear Creek's website is dedicated to
sampling, assay and quality control procedures.
    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. (*)Any reference to the potential quantity & grade
of mineralization at Corani is conceptual in nature, there has been
insufficient exploration to define a mineral resource on the property and it
is uncertain if further exploration will result in discovery of a mineral
resource on the property. 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.





For further information:

For further information: Andrew Swarthout - President and CEO, or
Patrick De Witt - Investor Relations, Phone: (604) 685-6269, Direct: (604)
628-1111, E-mail: info@bearcreekmining.com; For further information, please
visit the Company's website (www.bearcreekmining.com)


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