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Canaccord Genuity Updates Buy Recommendation for Bear Creek Mining (TSXV:BCM) - Video Overview Posted on www.InvestmentPitch.com


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Copyright © Thomson Reuters 2013. All rights reserved.
2013-02-07 19:41:19 -

Vancouver, British Columbia, February 7, 2013 - Investment firm Canaccord
Genuity has reiterated their buy recommendation for Bear Creek Mining
(TSXV:BCM), with analyst Nicholas Campbell maintaining his speculative buy
rating and 12-month target price at $5.25, a 62% premium to today's price of
$3.25 per share.
InvestmentPitch.com has produced a "video news alert" about Bear Creek
Mining based on this report. If this link is not enabled, please visit
www.InvestmentPitch.com and enter "Bear Creek" in the search box.

Bear Creek is a Vancouver-based junior exploration and development company
focused on precious metal projects in Peru. The company's Corani and Santa Ana
Projects contain more than 500 million ounces of silver of which over 330
million ounces are in reserves providing near-term production potential and
excellent leverage to silver prices.

The feasibility study for the flagship 
Corani Project estimates average annual production of over 13 million ounces of silver (plus lead and zinc credits) for the first five years of a 20-year mine life, with extremely low cash costs and fast payback of capital costs. The feasibility study for the Santa Ana project defines a low-cost "pure silver" mine, producing 5.0 million ounces annually in the first six years of an estimated 11-year mine life. Canaccord's updated research report followed the announcement that the Peruvian judge had dismissed the civil suit lodged by the previous government alleging that Bear Creek improperly acquired the mineral concessions at the Santa Ana silver deposit. The Ministry of Energy and Mines has subsequently notified the company that they plan to appeal the decision to the Peruvian Superior Court. The company believes the current civil case ruling is expected to provide further motivation for the Peruvian government to reach a negotiated settlement regarding Santa Ana, which has always been the company's desired outcome. Analyst Nicholas Campbell stated, "While Bear Creek is still in the early stages of legal proceedings regarding the status of the Santa Ana project, we believe this is a positive step forward to finding a resolution to the situation. We currently ascribe no value for the Santa Ana project in our valuation of Bear Creek; therefore, any resolution that allows Bear Creek to move the project forward should be viewed positively." The company has approximately US$70 million in cash and expenditures have decreased significantly following the submission of the Corani Environmental and Social Impact Assessment in December 2012, allowing sufficient funding to continue all of Bear Creek's planned activities well into 2014 without jeopardizing development timelines. Bear Creek currently trades at $3.25 and with 92 million shares outstanding the company is capitalized at $299 million. For more information please visit the company's website www.bearcreekmining.com, or call Lisa May at 604-628-1111 or email lmay@bearcreekmining.com. For more information about Canaccord Genuity or to obtain a copy of their research report, contact your nearest Canaccord Genuity office. Their branches are listed on their website at www.canaccord.com. InvestmentPitch.com, a multimedia company that provides a combined solution for creating and hosting financial video content, and distributing it across multiple platforms to investors and financial professionals, specializes in producing three minute videos based on news releases and research reports. CONTACT: InvestmentPitch.com Barry Morgan, CFO 604-684-5524 bmorgan@investmentpitch.com This announcement is distributed by Thomson Reuters on behalf of Thomson Reuters clients. The owner of this announcement warrants that: (i) the releases contained herein are protected by copyright and other applicable laws; and (ii) they are solely responsible for the content, accuracy and originality of the information contained therein. Source: InvestmentPitch via Thomson Reuters ONE [HUG#1676574]


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