VANCOUVER, Oct. 27, 2017 /CNW/ - Bear Creek Mining Corporation (TSX Venture: BCM) ("Bear Creek" or the "Company") announces that it has filed a Technical Report (as defined in National Instrument 43-101) regarding the Company's Corani Silver-Lead-Zinc property in Peru, entitled "NI43-101 Technical Report, Corani Project Detailed Engineering Phase 1 (FEED)" (the "2017 Corani Technical Report"). The 2017 Corani Technical Report is dated effective September 13, 2017 and was prepared on behalf of the Company by Sedgman Chile SpA, with contributions from other mining and engineering consulting firms.
The 2017 Corani Technical Report supports and augments the Phase 1 Detailed Engineering results contained in the Company's news release issued on September 15, 2017 (the "September 15, 2017 News Release"). There are no material differences between the scientific and technical disclosure contained in the September 15, 2017 News Release and the 2017 Corani Technical Report, both of which are available to the public on SEDAR (www.sedar.com) and on the Company's website (www.bearcreekmining.com).
On behalf of the Board of Directors,
President and CEO
National Instrument 43-101 Disclosure
The 2017 Corani Technical Report was prepared by a team of independent Qualified Persons (or "QP"s, as defined in National Instrument 43-101) including: Juan Carlos Tapia, ChE, IMCh, PE of Sedgman, responsible for Summary, Introduction, Reliance on Other Experts, Recovery Methods, Interpretations and Conclusions, Recommendations and References; Kevin Gunesch, PE, Principal Mining Engineer of GRE, responsible for Property Description and Location, Accessibility and Infrastructure, History, Mining Methods and Market Studies; Jennifer Brown, PG, SME-RM, an associate of GRE, responsible for Geological Setting and Mineralization, Deposit Types, Exploration, Drilling, Sample Preparation and Analysis, Data Verification and Adjacent Properties; Rick Moritz, MMSA, Principal Mining Engineer of GRE, jointly responsible for Mineral Processing and Metallurgical Testing; Deepak Malhotra, PhD, MMSA, Independent Consultant, jointly responsible for Mineral Processing and Metallurgical Testing; Terre Lane, MMSA, Principal Mining Engineer of GRE, responsible for Mineral Resource Estimates, Economic Analysis, Other Relevant Data and Information and jointly responsible for Mineral Reserve Estimates and Mining Methods; Denys Parra, PE, Independent Consultant, jointly responsible for Mineral Reserve Estimates, Environmental Studies, Permitting and Social or Community Impact and Mining Methods; Gregory Wortman, BE (Metallurgy), PE, of Sedgman, jointly responsible for Project Infrastructure; Larry Breckenridge, PE, Principal Environmental Engineer of GRE, jointly responsible for Environmental Studies, Permitting and Social or Community Impact and Project Infrastructure; and, Michal Short, BE (Civil), CEng FIMMM, FAusIMM(CP), FIEAust, CPEng, of GBM, responsible for Capital and Operating Costs. Each of these individuals has read and consented to the use, public disclosure and filing of the scientific and technical information contained in the September 15, 2017 news release, and has read, certified their participation in and consented to the filing of the 2017 Corani Technical Report.
Caution Regarding Forward Looking Information
This news release refers to documents that contain forward-looking information and forward-looking statements related to future events or future performance and reflecting current estimates, predictions, expectations or beliefs regarding future events regarding the Corani deposit and the proposed Corani mining operation, and include, without limitation, statements with respect to: the estimated amount of mineral reserves and mineral resources; the amount of future production over any period; the net present value and internal rates of return; capital costs, including start-up, sustaining capital and reclamation/closure costs; estimated operating costs, including credits from the sale of silver, lead and zinc; striping ratios and mining rates; expected metal grades and payable ounces and pounds of metals and minerals; expected processing recoveries; expected time frames; prices of metals and minerals; mine life; timing of the Company's application for the Corani Construction Permit; the pace and potential outcome of Corani project financing efforts; and the timing of a possible Corani Project construction decision. Certain of these forward-looking statements are contingent upon various assumptions, including that the Phase 1 Detailed Engineering results will provide sufficient information for the Construction Permit application; that cost estimates used in the Phase 1 Detailed Engineering are reasonably accurate; that all necessary permits will be secured in a timely manner; that adequate project financing for the Corani project will be secured at the appropriate time(s) and on reasonable terms; that all necessary regulatory approvals and third party consents will be obtained without undue delay; and, the continuity of the price of silver, lead, zinc and other metals, as well as economic and political conditions and operations. This forward-looking information is provided as of the date of this news release, or the effective date of the documents referred to in this news release, as applicable, and reflects estimates, predictions, expectations or beliefs regarding future events and is based on the Company's or its consultants' beliefs at the time the statements were made, as well as various assumptions made by and information currently available to them. Although management considers these assumptions to be reasonable based on information available to it, they may prove to be incorrect. By their very nature, forward-looking statements involve inherent risks and uncertainties, both general and specific, and risks exist that estimates, forecasts, projections and other forward-looking statements will not be achieved or that assumptions on which they are based do not reflect future experience. We caution readers not to place undue reliance on these forward-looking statements as a number of important factors could cause the actual outcomes to differ materially from the expectations expressed in them. These risk factors may be generally stated as the risk that the assumptions and estimates expressed above do not occur, but specifically include, without limitation, risks relating to variations in the mineral content within the material identified as mineral reserves and mineral resources from that predicted; variations in rates of recovery and extraction; developments in world metals and minerals markets; risks relating to fluctuations in the Canadian dollar relative to other currencies; increases in the estimated capital and operating costs or unanticipated costs; difficulties attracting the necessary work force; increases in financing costs or adverse changes to global market conditions and the terms of available financing, if any; tax rates or royalties being greater than assumed; changes in development or mining plans due to changes in logistical, technical or other factors, changes in project parameters as plans continue to be refined; risks relating timing and to receipt of regulatory approvals; adverse changes to government approval processes; the effects of competition in the markets in which the Company operates; operational and infrastructure risks; and the additional risks described in the Company's latest Annual Information Form, annual financial statements and management's discussion and analysis and in the feasibility study entitled "NI43-101 Technical Report, Corani Project Detailed Engineering Phase 1 (FEED)"dated effective September 13, 2017.The foregoing list of factors that may affect future results is not exhaustive. When relying on our forward-looking statements, investors and others should carefully consider the foregoing factors and other uncertainties and potential events. The Company does not undertake to update any forward-looking statement, whether written or oral, that may be made from time to time by the Company or on behalf of the Company, except as required by law.
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.
SOURCE Bear Creek Mining Corporation
For further information: Barbara Henderson - Investor Relations, Direct: 604-628-1111, E-mail: [email protected], Or visit www.bearcreekmining.com