August 27, 2024, Vancouver, B.C. – Bear Creek Mining Corporation (“Bear Creek” or the “Company”) (TSXV: BCM) (OTCQX: BCEKF) (BVL: BCM) reports its interim condensed consolidated financial results for the three months ended June 30, 2024 (“Q2 2024”).

This news release should be read in conjunction with the Company’s interim condensed consolidated financial statements and management discussion and analysis (“MD&A”) for the three and six months ended June 30, 2024, which are available on SEDAR+ (www.sedarplus.ca) and the Company’s website (www.bearcreekmining.com). Monetary amounts in this news release are in United States dollars unless otherwise stated and all capitalized terms herein have the same meaning as defined in the Q2 2024 financial statements.

Highlights
Key milestones that occurred during and subsequent to the end of Q2 2024 include:

Produced 9,304 oz of gold and 40,893 oz of silver;
Appointed Mr. Donald Mc Iver to the position of Vice President, Exploration and Geology;
Continuing to make technical changes at Mercedes to improve operating performance;
Enhanced Mercedes’ ground control management plan (“GCMP”) to overcome historical geotechnical challenges and development deficits;
Completed the North lateral ramp at the Marianas deposit, which includes two important pivots into the north and central ore bodies planned for late 2024 and 2025 production
Completed infrastructure projects at the San Martin deposit, including the new ventilation raise. This will allow acceleration of development by adding additional faces for ore extraction;
Eric Caba, President & CEO, states “Our efforts to optimize fundamental mine processes at Mercedes continued to result in improved gold grades and development meters achieved during Q2 2024. Pivoting development at the Marianas deposit toward driving a new lateral ramp resulted in gold production during the quarter that was lower than the previous two quarters due to restricted available working faces. Operating costs per ounce of gold produced also increased in Q2 2024 despite the effect of improved cost control measures, as a result of higher labour costs accompanying new union agreements settled during the quarter and increased contractor costs. The new Marianas ramp is expected to allow better positioning for ongoing infill drilling and development into other Marianas orebodies in late 2024 that we anticipate will contribute to production in 2025. We also initiated a near-mine and district-wide exploration program that is combining traditional exploration techniques with Machine Learning tools to identify new exploration targets. This work has already generated several new near-mine targets under cover that we are actively investigating. We remain convinced of Mercedes’ ability to generate consistent, reliable quarterly production results and steady free cash flow.”

Selected Q2 2024 Financial and Production Results
Bear Creek’s Mercedes gold mine, located in Sonora, Mexico, produced 9,304 ounces of gold and 40,893 ounces of silver during the three months ended June 30, 2024. During this period 9,155 ounces of gold were sold, of which 825 ounces of gold were delivered under streaming arrangements. Cash cost and all-in-sustaining cost (“AISC”) per ounce of gold sold were $1,657 and $2,058, respectively. See “Non-GAAP Financial Measures”, below.

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