May 2, 2025, Vancouver, British Columbia – Bear Creek Mining Corporation (TSXV: BCM) (OTCQX: BCEKF) (BVL: BCM) (“Bear Creek” or the “Company”) announces it produced 8,262 ounces of gold and 36,466 ounces of silver from the Mercedes Mine (“Mercedes”) during the three months ended March 31, 2025 (“Q1 2025”).

Eric Caba, President and CEO of Bear Creek, states, “The first quarter of 2025 was difficult at Mercedes, with significant delays in the transition to Marianas and Rey de Oro. Mercedes compensated with accelerating other mining areas, but this still left a significant production shortfall in the quarter. Recovery plans are in place and being constantly reviewed in order to return to expected production rates.”

Production and development results for the quarter ended March 31, 2025 are as follows:

Q1 2025
Ore Mined (tonnes) 102,886
Ore Processed (tonnes) 105,611
Gold grade processed (gpt) 2.56
Gold recovery (%) 95%
Gold ounces produced 8,262
Silver ounces produced 36,466
Development (meters) 2,469
Mining from narrow, high-grade veins at the Marianas and Rey de Oro deposits was intended to accelerate during Q1 2025, concurrent with a wind down of production from San Martin, which provided the majority of Mercedes’ production throughout 2024. Significant and ongoing underperformance by a contractor engaged in late 2024 to provide the appropriate equipment and personnel, and deliver narrow vein mining services at Mercedes, has delayed advancement of the Marianas and Rey de Oro mine plan intended to occur during Q1 2025.

A number of Mercedes’ Q1 2025 production results were consequently impacted. Tonnes mined from Marianas and Rey de Oro, and development meters achieved, were lower than anticipated due to the delay of equipment and personnel and shortage of mining faces. This tonnage was largely replaced by fast-tracking pillar removal from San Martin and mining additional material from Diluvio. Replacing the planned high-grade production from Marianas and Rey de Oro with production from the generally lower grade Diluvio deposit led to diminished overall gold grades and lower gold production during Q1 2025 than planned, as well as in comparison to recent past quarters.

Corani Oxides

The Company has elected to not proceed at this time with completion of a Preliminary Economic Assessment related to the Oxides opportunity, as described in its news release dated September 9, 2024. The Company believes the Oxides provide an exciting opportunity to add silver resources to the Corani mineral inventory, and potentially extend the anticipated Corani mine life, but that additional work is required to fully develop the scope of this opportunity. As the Company is engaged in its Strategic Review process (see news release dated March 4, 2025), such additional work will not be undertaken at this time.

On behalf of the Board of Directors,

Eric Caba
President and Chief Executive Officer

For further information contact:
Barbara Henderson – VP Corporate Communications
Direct: 604-628-1111
E-mail: barb@bearcreekmining.com
www.bearcreekmining.com

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NI 43-101 Disclosure

Unless otherwise indicated, scientific and technical information in this news release is based on work programs and initiatives conducted by or under the supervision of, and/or has been reviewed and approved by, Donald Mc Iver, Fellow SEG and Fellow Aus IMM, Vice President, Exploration and Geology of Bear Creek Mining Corporation, who is a qualified person (“QP”) as defined in National Instrument 43-101 – Standards of Disclosure for Mineral Projects.

Cautionary Statement Regarding Forward-Looking Statements and Going Concern