Bear Creek Mining: Grants incentive stock options
02.09.2011 | CNW
VANCOUVER, Sept. 2, 2011 - Bear Creek Mining (TSX Venture: BCM / BVL: BCM) ('Bear Creek' or the 'Company') announces that the board of directors has authorized the grant of 340,000 incentive stock options under its incentive stock option plan to senior Peruvian management and an officer of Bear Creek, at an exercise price of $4.01 per share. These options are exercisable for a five-year period and the grant is subject to vesting provisions in accordance with the Company's Stock Option Plan.About Bear Creek:
Bear Creek Mining has completed a Pre-Feasibility Study on its Corani Silver Project and is currently in the process of completing a feasibility study. The Pre-feasibility study showed that the Corani Project could produce up to 10 million ounces of silver per year and with the new feasibility study being prepared at a 50% greater processing rate, the project is expected to produce up to 15 million ounces per year during its 20 year mine life. Additionally, the Corani project is well endowed with both lead and zinc, so by-product credits will result in low or negative cash costs per ounce of silver. A Feasibility Study for Santa Ana project was completed in the fall of 2010 and defined a low-cost 'pure silver' mine producing 5 million ounces annually in the first six years of an estimated 11-year mine life (subject to the disclosure from June 25(th) 2011 press release). Together both projects contain measured and indicated resources in excess of 500 million ounces of silver of which over 320 million ounces are in proven and probable reserves.
The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release.
Contact
Andrew Swarthout - CEO, or Patrick De Witt - Investor Relations
Phone: 604-685-6269 Direct: 604-628-1111
E-mail: info@bearcreekmining.com
For further information, please visit the Company's website (www.bearcreekmining.com)