September 18, 2020 Vancouver, B.C. - Bear Creek Mining Corporation (“Bear Creek” or the “Company”) (TSXV:BCM) (OTCQX:BCEKF) (BVL:BCM) has approved, and will shortly commence, construction of several capital projects in the Corani region to support the long term health, education and economy of local communities and provide early construction infrastructure for the Corani mine. These projects have the full support and cooperation of authorities and members of the communities of Corani, Tantamaco and Pacaje, and of the Corani District Municipality, and include:
1) Immediate implementation of a rapid response health care center in the community of Isivilla to provide local, specialized therapy for Covid-19 infection, including oxygen concentrators and ten intensive care treatment beds.
2) Construction of an Alpaca Research Center to house the initiatives already being advanced in partnership with Corani-area communities to enhance alpaca health and farming methods, and to continue research towards the creation of unique and innovative products from local resources. Recent examples of these innovations include the design and production of healthy textiles incorporating silver thread into alpaca fiber garments and Covid-19 face masks made from Ichu grass imbibed with silver nanoparticles, which have passed safety standards for the prevention of Covid-19 transmission.
3) Completion of the Antapata electrical substation started by the Company in 2018. Antapata will direct electrical power to communities and essential infrastructure within the Carabaya province, such as the forthcoming Covid treatment center, and will eventually connect the Corani mine to the existing Peruvian electrical grid.
4) Installation of transmission towers from the Antapata substation, initially to the community of Isivilla, to deliver medium tension electrical service to the Carabaya Province, including the town of Macusani and communities within the Corani district and, eventually, high tension electrical service to the Corani mine site. The transmission towers will also be used to provide fiber optic internet service to local communities enroute to the Corani project that do not have this service, improving access to technology and supporting on-line classrooms.
5) Construction and upgrading of roads from the Interoceanic Highway, through the communities of Tantamaco, Huiquisa and Corani and eventually to the Corani mine site, which will increase security and accessibility for residents, reduce road hazards and traffic accidents and provide a route for the transport of heavy construction equipment to the Corani site.
These projects will benefit the Carabaya Province residents and communities as well as the Corani mine. They will provide much needed infrastructure improvements and will generate local employment, helping families re-establish income lost to the economic downturn caused by the Covid-19 pandemic. They are additionally necessary for construction and operation of the Corani mine. All of the programs described above will be funded from Bear Creek’s existing cash balances and are expected to total approximately US $6.0 M.
“These projects illustrate how Bear Creek and the Corani region communities work in partnership to realize mutual goals and benefits,” commented Anthony Hawkshaw, President and CEO of Bear Creek. “Upgrading the road will have dramatic positive benefits to the local economy and safety of the community members, but it also provides the Company with lower cost access for mine construction. Likewise, completing the substation and installing the transmission line provides two direct and immediate community benefits – a reliable source of electricity and fiber optic internet access - and will also carry high-tension power from the national grid to the Corani mine. And most importantly, the Covid Health Care facility and the Alpaca Research Center are integral elements of our CSR program and are concrete examples of our commitment to work collaboratively with communities to improve quality of life through sustainable development and advancements in health, education and economic opportunity.”
On behalf of the Board of Directors,
President and CEO
For further information contact:
Barbara Henderson, VP Corporate Communication
Direct: 604-628-1111 / E-mail: email@example.com