Bear Creek Mining Monetizes Tassa Project in Peru

Core Points - Bear Creek Mining Corporation has executed an agreement to sell its 100% interest in the non-core Tassa Project in southern Peru to Colque Holding Pty Ltd for a total consideration of US$3.5 million, structured in staged payments over 30 months [1][2][3] Consideration Structure - The total consideration includes a signing fee of US$30,000, US$470,000 upon execution of the agreement, followed by deferred payments of US$500,000, US$1,000,000, and US$1,500,000 over the next 30 months [5] - The deferred payments are secured by a first-ranking security interest over the Tassa concessions [2] Future Royalties - Upon completion of the acquisition, Colque will grant Bear Creek a 2% net smelter return royalty on all minerals produced from Tassa, with an option for Colque to buy back 1% of this royalty for an additional US$2.5 million [2][3] Management Commentary - The transaction reflects Bear Creek's strategy to focus on core assets while unlocking value from non-core projects, indicating a commitment to enhancing shareholder value [3]