Bear Creek Mining's Corani and Santa Ana Projects (subject to disclosure from June 25th 2011 press release) 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. Corani represents approximately 89% of the Company's value on a reserve basis considering the recovered base metals credits and 80% of the value on a pure silver basis. Corani is proceeding towards permitting and construction.
The feasibility study for Santa Ana 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 (subject to disclosure from June 25th 2011 press release). Efforts are underway in order to recover the Company's rights and advance Santa Ana towards production.
Bear Creek Mining maintains aggressive exploration programs to expand resources at its two future mines and make new precious metals discoveries. The Company is led by a management team with an exceptional track record of mineral discovery and mine development in Peru.