Bear Creek's over-allotment option exercised in full from recent equity
financing

    
    /THIS NEWS RELEASE IS INTENDED FOR DISTRIBUTION IN CANADA ONLY AND IS NOT
    INTENDED FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR
    DISSEMINATION IN THE UNITED STATES/
    

VANCOUVER , Nov. 24 /CNW/ - Bear Creek Mining (TSX Venture: BCM) ("Bear Creek" or the "Company") is pleased to announce that the syndicate of underwriters led by Canaccord Capital Corporation and including Haywood Securities Inc., Paradigm Capital Inc., BMO Nesbitt Burns Inc., Scotia Capital Inc. and Cormark Securities Inc. (the "Syndicate") has exercised the over-allotment option (the "Option") granted to them in connection with the equity financing of Bear Creek that closed on November 4, 2009 . Pursuant to the Option, the Syndicate has acquired an additional 1,644,000 common shares for gross proceeds to the Company of $6,000,600 , bringing the aggregate gross proceeds of the equity financing to $46,004,600 . The Syndicate received a cash fee equal to 6% of the gross proceeds of the financing.

The Option allowed the Syndicate to purchase up to an additional 1,644,000 common shares at a price of $3.65 per share at any time prior to December 4, 2009 .

The Company intends to use the net proceeds from the Offering to fund the exploration and development of the Company's Corani and Santa Ana silver projects in Peru and for general working capital purposes.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in any state of the United States in which such offer, solicitation or sale would be unlawful. The securities have not been registered under the U.S. Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or an applicable exemption from registration requirements.

About Bear Creek:

Bear Creek is an exploration and development company with two advanced multi hundred million ounce silver deposits in Peru . The Company has completed a prefeasibility study on its Corani silver-lead-zinc deposit placing 258 million ounces of silver into reserves and has initiated a feasibility study on its Santa Ana silver deposit anticipated to be completed in mid-2010. Both projects are 100% owned by Bear Creek and are expected to provide two important development opportunities for the aggregate production of approximately 15 million ounces silver per year, plus base metals credits. Additionally, the Company maintains an aggressive gold-focused exploration program.

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 Marc Leduc , P. Eng., the Chief Operating Officer and Andrew Swarthout , P.Geo., the President and CEO, who serve as the Qualified Persons under the definitions of NI 43-101.

This news release includes certain forward-looking statements or information. All statements other than statements of historical fact included in this release, including, without limitation, statements regarding future plans and objectives of the Company are forward-looking statements that involve various risks and uncertainties. In certain cases, forward-looking statements can be identified by the use of words such as "plans", "expects" or "does not expect", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate", or "believes", or variations of such words and phrases or statements that certain actions, events or results "may", "could", "would", "might" or "will be taken", "occur" or "be achieved". Forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from the Company's plans or expectations include availability of capital and financing, general economic, market or business conditions, regulatory changes, timeliness of government or regulatory approvals, risks inherent in the mineral exploration and production industry, and other risks detailed herein and in the preliminary prospectus and from time to time in the filings made by the Company with securities regulators. The Company 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 except as otherwise required by applicable securities legislation.

    
    Neither TSX Venture Exchange nor its Regulation Services Provider (as
    that term is defined in the policies of the TSX Venture Exchange) accepts
    responsibility for the adequacy or accuracy of this release.
    

For further information: Andrew Swarthout - President and CEO, or Patrick De Witt - Investor Relations, Phone: [phone], Direct: [phone], E-mail: [email protected]; For further information, please visit the Company's website (www.bearcreekmining.com)