VANCOUVER, May 7, 2013 /PRNewswire/ - Bear Creek Mining (TSX
Venture: BCM / BVL: BCM) ("Bear Creek" or the "Company") announces
that its President and Chief Operating Officer, Mr. Marc Leduc, will be leaving to pursue other
opportunities effective August 1,
2013. Mr. Leduc will continue in his present capacity
with Bear Creek until the effective date to assist in
transition. Additionally, Mr. Leduc will act as a consultant
and adviser to Bear Creek for an additional twelve months following
his resignation under a consulting agreement with the
Company. The Company's current CEO, Andrew Swarthout, will assume the position of
President and CEO of the Company following the effective date of
Mr. Leduc's resignation.
Andrew Swarthout, CEO, states "We
wish to thank Marc for his significant contributions towards
establishing the value of our two projects, Corani and Santa Ana,
and wish him continued success in his future endeavors."
Our strong, Peru-based
technical team will continue to advance the Company's Corani and
Santa Ana projects under the direction of Elsiario Antunez de
Mayolo, Vice President of Operations.
As previously announced, including in the Company's news release
of April 15, 2013, Bear Creek expects
approval for the Environmental and Social Impact Assessment
("ESIA") for the Corani project by the end of 2013, and the Company
to add additional management talent at the project level as the
Company's projects advance.
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.
Cautionary Note regarding Forward-Looking
Statements:
This document contains "forward-looking information" within the
meaning of Canadian securities legislation and "forward-looking
statements" within the meaning of the United States Private
Securities Litigation Reform Act of 1995. This information
and these statements, referred to herein as "forward-looking
statements" are made as of the date of this news release or as of
the date of the effective date of information described in this
news release, as applicable. Forward-looking statements
relate to future events or future performance and reflect current
estimates, predictions, expectations or beliefs regarding future
events and include, without limitation, statements with respect to:
(i) the planned approval and timing of the ESIA; (ii) the planned
development of the Corani and Santa Ana projects, including the
timing thereof. Any statements that express or involve
discussions with respect to predictions, expectations, beliefs,
plans, projections, objectives, assumptions or future events or
performance (often, but not always, using words or phrases such as
"expects", "anticipates", "plans", "projects", "estimates",
"envisages", "assumes", "intends", "strategy", "goals",
"objectives" or variations thereof or stating that certain actions,
events or results "may", "could", "would", "might" or "will" be
taken, occur or be achieved, or the negative of any of these terms
and similar expressions) are not statements of historical fact and
may be forward-looking statements.
All forward-looking statements are based on the Company's or
its consultants' current beliefs as well as various assumptions
made by and information currently available to them. These
assumptions include, without limitation: (i) the presence of and
continuity of metals at the project at modeled grades; (ii) the
capacities of various machinery and equipment; (iii) the
availability of personnel, machinery and equipment at estimated
prices; (iv) exchange rates; (v) metals and minerals sales prices;
(vi) appropriate discount rates; (vii) tax rates and royalty rates
applicable to the proposed mining operation; (viii) financing
structure and costs; (ix) anticipated mining losses and dilution; *
metals recovery rates, (xi) reasonable contingency requirements;
and (xiii) receipt of regulatory approvals on acceptable terms and
in the timeframes expected by the Company, including, without
limitation, in relation to the ESIA. Although management considers
these assumptions to be reasonable based on information currently
available to it, they may prove to be incorrect. Many
forward-looking statements are made assuming the correctness of
other forward looking statements, such as statements of net present
value and internal rate of return, which are based on most of the
other forward-looking statements and assumptions herein. The
cost information is also prepared using current values, but the
time for incurring the costs will be in the future and it is
assumed costs will remain stable over the relevant period.
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
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 beliefs, plans, objectives,
expectations, anticipations, estimates assumptions and intentions
expressed in such forward-looking statements. 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 Annual Information Form, annual financial statements and
management's discussion and analysis for the year ended
December 31, 2012 and in the
feasibility study entitled "Corani Project, Form 43-101F1 Technical
Report, Feasibility Study" filed by the Company on December 22, 2011 filed on the SEDAR website in
Canada (available at
www.sedar.com). 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.
SOURCE Bear Creek Mining Corporation