CDN$6,955,000 million received through warrant exercise: proceeds to fund continued aggressive exploration in Peru

    VANCOUVER, Jan. 30 /CNW/ - Bear Creek Mining (TSX Venture: BCM)
("Bear Creek" or the "Company") is pleased to announce that further to the
news release dated December 20, 2006, 2,072,210 warrants have been exercised
resulting in the addition of CDN$6,955,000 to the Company's cash position. The
Company is pleased to report that all of the outstanding Series D and E
warrants outstanding were exercised.
    With the addition of over CDN$6.9 million to the Company's treasury Bear
Creek is in an excellent position to continue to add shareholder value through
its ongoing drill programs on several of its precious metals prospects,
including both the Corani and Santa Ana silver deposits. Bear Creek will also
be fast tracking a pre-feasibility study at the world class Corani Silver
deposit during 2007.
    Andrew Swarthout, President/CEO, states that, "The early exercise of
these warrants provides the Company with additional capital with which to
continue our fast-track development of Bear Creek's two exciting silver
deposits, Corani and Santa Ana, and provides the opportunity to add further
value by drilling several new targets that our exploration group is moving to
the drill-ready stage without adding any additional dilution."

    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:; For further information, please
visit the Company's website (

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