Bear Creek Mining Corporation provided an update on its activities regarding the Corani projects in Peru. After completing the Corani Optimized Final Feasibility Study last year, Bear Creek undertook an exploratory investigation of possible Corani project-financing scenarios. Feedback from a range of potential participants, including lenders, off-take partners, development banks, equity markets, and streaming partners, aligned closely with the Company's internal conclusions.

Therefore, the company's plans for Corani during the coming months are to continue to de-risk the project by acquiring key permits in preparation for an application for the Construction Permit that is ultimately required to commence development, while maintaining the excellent community relationships the company has worked hard to foster. The Company's goal is to ensure the necessary components are in place to make sound and nimble decisions for Corani when the opportunity arises. To this end, in late 2015 Bear Creek submitted modifications to its Environmental and Social Impact Assessment (ESIA) originally approved in September 2013.

In mid- January Bear Creek received approval of the modified ESIA from the Peruvian Ministry of Energy and Mines; a key milestone for the Corani project and an important component of the eventual Construction Permit. Exploration Projects Bear Creek has 3 prospective exploration properties in Peru under joint venture; the Sumi and La Yegua copper- gold projects and the Maria José gold-silver project. While the company continues to maintain an ownership interest in these projects, they are currently being advanced at virtually no cost to the Company.