News

• Corani Este: C-100A intersects 124 meters @ 81g/t Ag, 1.4%Pb, and 1.2%Zn, 80 meters from C-93 (65 meters averaging 173 g/t Ag, 2.8% Pb and 4.0% Zn)

• C-102 intersects 86 meters at 96 g/t Ag and 1.3% Pb, extending the western limit of mineralization by 60 meters northwest of C-78 (87 g/t Ag and 1.1% Pb)

• Minas Corani: Drilling under large area of thin post-mineral cover continues to intersect silver-base metal mineralization (C-91C intersects 54 meters @ 65 g/t Ag and 1.3% Pb); potential for expansion remains open to north

THE LATEST DRILL HOLE RESULTS ARE AS FOLLOWS:

CORANI ESTE

MINAS CORANI ZONE

(Please refer to Bear Creek's website at www.bearcreekmining.com for drill hole locations, trench assay maps, previously reported drill intervals and detailed assay results. To access the silver drill hole map directly please refer to http://www.bearcreekmining.com/i/pdf/2006-08-15_CDR.pdf)

Four drills continue on the project; three defining the continuity of mineralization at Corani Este and Minas Corani, while one commences initial drill testing on the La Curva target which has never been drilled. Metallurgical testing is being completed for release in early September. "We are looking forward to providing both the crucial metallurgical results as well as fleshing out other pre-development elements which will lead to the completion of a scoping study before the end of the third quarter. We also are focused on results from drilling on new target areas such as La Curva as we continue to add value to this significant silver discovery," stated Andrew Swarthout.

Minas Corani- Drill holes C-91, 91A, 91B, and 91C have established that a broad zone of mineralization exists in the 400 meter wide covered area between C-74 and C-24 / 24A. Drilling fans are now moving systematically north and south to explore this large, prospective area for higher-grade mineralized structures similar to those discovered at Corani Este and along the east and west Minas Corani mineralized corridors. This data is expected to expand the resources in subsequent resource updates.

Corani Este- There are now 88 drill holes completed since the resource calculation released on March 13, '06 (http://www.bearcreekmining.com/i/pdf/2006-03-13_NR.pdf). The largest intercepts under post-mineral cover seem to be constrained by the latest drilling to the north and east; however good intercepts exist to the west where mineralization remains open and drilling is now focusing. The following drill holes, while intersecting mineralization, likely establish limits for economic grades:

Corani Main- No drilling occurred during the period. Plans are to follow up the intercept in hole C-77 (152 meters averaging 96.4 g/t Ag, 1.2% Pb) in the soil-covered hanging wall of the main structure with drilling in late August.

La Curva- The first three drill holes contain fine grain sulfide mineralization similar to other deposits at Corani both within the tertiary host tuff and for distances up to 22 meters into the underlying Paleozoic sediments. These results may indicate a new style of mineralization as the sediments at Corani have not previously been a host for precious or base metal mineralization. Assays are pending and will be released with the next drill results.

Metallurgical testing: Bear Creak is well advanced with preliminary metallurgy and is presently defining and optimizing the process flow sheet.. This testing is being completed by Dawson Metallurgical Laboratories, G&T Metallurgical Services and Hazen Research, all of whom are working diligently to complete the flow sheet development phase of the metallurgical test work by mid-September so that initial metallurgical recovery information can be released.

Scoping Study- Data is currently being compiled by Independent Mining Consultants of Tucson, AZ for an updated resource estimation which is expected to be completed by the week of August 21st. This resource estimate will involve the addition of over 230 drill holes to the data base, many of them some of the highest grades drilled on the Corani project. The new resource estimate, metallurgical test work, and preliminary engineering studies led by Vector Engineering and Granya y Montero, Lima, Peru will be compiled into a scoping study anticipated in mid-September.

OTHER PROJECTS
Santa Ana- The first phase, involving approximately 1,100 meters of core drilling in eleven drill holes, was completed on July 27th. The drill holes are distributed throughout the southern silver anomaly measuring 2.8km by 600 meters where approximately 450 rock chip samples average 83 g/t Ag, 0.4% Pb and 0.3% Zn. Results of the first phase drilling are expected in late August.

The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release.

Andrew Swarthout - President and 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)

Regulatory footnotes:
All of Bear Creek's exploration programs and pertinent disclosure of a technical or scientific nature are prepared by or prepared under the direct supervision of David Volkert, P.Geo., Bear Creek's Vice President of Exploration, who serves as the qualified person (QP) under the definitions of National Instrument 43-101. All diamond drilling has been performed using HQ diameter core with recoveries averaging greater than 95%. Core is logged and split on site under the supervision of Bear Creek geologists. Sampling is done on two-meter intervals and samples are transported by Company staff to Cusco, Peru for direct shipping to ALS Chemex, Laboratories in Lima, Peru. ALS Chemex is an ISO 9001:2000-registered laboratory and is preparing for ISO 17025 certification. Silver, lead, and zinc assays utilize a multi-acid digestion with atomic absorption ("ore-grade assay method"). The QC/QA program includes the insertion every 20th sample of known standards prepared by SGS Laboratories, Lima. A section in Bear Creek's website is dedicated to sampling, assay and quality control procedures.

Certain disclosure in this release, including management's assessment of Bear Creek's plans and projects, constitutes forward-looking statements that are subject to numerous risks, uncertainties and other factors relating to Bear Creek's operation as a mineral exploration company that may cause future results to differ materially from those expressed or implied in such forward-looking statements. *Any reference to the potential quantity & grade of mineralization at Corani is conceptual in nature, there has been insufficient exploration to define a mineral resource on the property and it is uncertain if further exploration will result in discovery of a mineral resource on the property. Readers are cautioned not to place undue reliance on forward-looking statements. Bear Creek expressly disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise.