BCN Bacanora Minerals Ltd (delisted)

BACANORA MINERALS LTD. ("Bacanora" or the "Company") (TSX VENTURE:BCN)(AIM:BCN)
is pleased to announce that the Company's Common Shares have been admitted to
the AIM Market of the London Stock Exchange ("AIM") and that dealings commenced
at 8:00 a.m. (U.K. time) today. For a copy of the Company's First Day of
Dealings announcement or its AIM Admission Document, investors are referenced to
the Company's website, www.bacanoraminerals.com. 


Concurrent with the admission, the Company also completed its previously
announced brokered financing of 14,393,940 common shares at a price of GBP 0.33
per share for aggregate gross proceeds of GBP 4,750,000. Using a foreign
exchange rate of GBP 1.00 = CAD$1.834, the offering price per security is
approximately CAD$0.605 and the aggregate gross proceeds of securities sold is
approximately CAD$8,708,334. In addition to (and over and above) the foregoing,
a 'vendor placing' (i.e.: sale of shares by an existing holder of Bacanora
shares to subscribers under the offering) of 2,000,000 shares was completed at
the same offering price. Upon completion of this offering, the Company paid cash
commissions to its broker, HD Capital Partners LLP, in the amount of GBP 200,500
(approximately CAD$367,717) and issued 90,909 common shares at a price of GBP
0.33 per share and 390,874 non-transferrable warrants ("Broker Warrants") to HD
Capital. In addition, the Company paid its Nominated Advisor, Cairn Financial
Advisors LLP, a corporate finance fee in the amount of GBP 80,000 (CAD$146,720)
and issued 390,874 Broker Warrants to Cairn. Each Broker Warrant entitles the
holder to purchase one common share at a price of GBP 0.33 (CAD$0.605) until
expiry on the date that is five years from the date of issuance (being July 25,
2019). The offering was completed in reliance upon exemptions from applicable
prospectus and registration requirements. Accordingly, any trades of securities
issued under the offering that occur in Alberta or to a purchaser in Alberta
would be subject to a hold period equal to four months and one day from the date
of issuance (being November 26, 2014). Trades of securities occurring through
the CREST system among non-Alberta residents will not be subject to this
restriction. There were no Alberta subscribers under the offering and all of the
aforementioned shares have been deposited under the CREST system. The proceeds
of the offering will be used to cover the expenses associated with the AIM
listing and to fund the preparation of a pre-feasibility study on the Company's
Magdalena Borate Project, for the continuation of the Company's work program to
establish the economic potential of the Sonora Lithium Project and for general
working capital purposes.


Commenting on the foregoing matters, Colin Orr-Ewing, Chairman of the Board
stated, "The successful listing on AIM and the completion of this brokered
financing provides Bacanora with the financial resources and the capital
markets' platform to accelerate the exploration and development of our two key
projects. Bacanora continues to deliver on its key project milestones with the
next phases of its growth, including the completion of the economic feasibility
study of our high grade Borate Project, and the development of commercial
production of boric acid. We continue to explore our lithium resource base at
Sonora and look forward to advancing this project further."


In connection with the Company's admission to AIM, the board of directors has
approved certain amendments to the Company's bylaws for the purpose of complying
with AIM Rules. In particular, shareholders are advised of the following two
provisions: (i) all Shareholders with interests in three percent (3%) or more of
the Company's common shares are required to notify the Company of their holdings
and of any subsequent relevant changes to their holdings (being each one percent
(1%) increment increase or decrease while the shareholder's holdings are above
the three percent (3%) threshold); and (ii) cancellation of the admission to
trading of the Company's common shares on AIM shall be conditional upon the
consent of not less than 75% of votes cast by its shareholders at a duly called
meeting thereof. In accordance with provision (i) above, shareholders with
interests in three percent (3%) or more of the Company's common shares are
requested to notify the Company in order to enable it to comply with AIM Rules.


Reader Advisory

Except for statements of historical fact, this news release contains certain
"forward-looking information" within the meaning of applicable securities law.
Forward-looking information is frequently characterized by words such as "plan",
"expect", "project", "intend", "believe", "anticipate", "estimate" and other
similar words, or statements that certain events or conditions "may" or "will"
occur. In particular, forward-looking information in this press release
includes, but is not limited to the potential future trading of the common
shares on the AIM, the use of proceeds from the offering. Although we believe
that the expectations reflected in the forward-looking information are
reasonable, there can be no assurance that such expectations will prove to be
correct. We cannot guarantee future results, performance or achievements.
Consequently, there is no representation that the actual results achieved will
be the same, in whole or in part, as those set out in the forward-looking
information.


Forward-looking information is based on the opinions and estimates of management
at the date the statements are made, and are subject to a variety of risks and
uncertainties and other factors that could cause actual events or results to
differ materially from those anticipated in the forward-looking information.
Some of the risks and other factors that could cause the results to differ
materially from those expressed in the forward-looking information include, but
are not limited to: commodity price volatility; general economic conditions in
Canada, the United States, Mexico and globally; industry conditions,
governmental regulation, including environmental regulation; unanticipated
operating events or performance; failure to obtain industry partner and other
third party consents and approvals, if and when required; the availability of
capital on acceptable terms; the need to obtain required approvals from
regulatory authorities; stock market volatility; competition for, among other
things, capital, skilled personnel and supplies; changes in tax laws; and the
other risk factors disclosed under our profile on SEDAR at www.sedar.com.
Readers are cautioned that this list of risk factors should not be construed as
exhaustive. 


The forward-looking information contained in this news release is expressly
qualified by this cautionary statement. We undertake no duty to update any of
the forward-looking information to conform such information to actual results or
to changes in our expectations except as otherwise required by applicable
securities legislation. Readers are cautioned not to place undue reliance on
forward-looking information.


Neither 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.


FOR FURTHER INFORMATION PLEASE CONTACT: 
Bacanora Minerals Ltd.
Shane Shircliff
Chief Executive Officer
(306) 649-0602


Bacanora Minerals Ltd.
Martin Vidal
President
(+52 662) 210-0767
www.bacanoraminerals.com

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