Vancouver, British Columbia–(Newsfile Corp. – October 9, 2025) – Bear Creek Mining Corporation (TSXV: BCM) (OTCQX: BCEKF) (BVL: BCM) (“Bear Creek” or the “Company”) announces that pursuant to the secured promissory note (the “2025 Sandstorm Note”) issued to a wholly owned subsidiary of Sandstorm Gold Ltd. (“Sandstorm”) on May 8, 2025, funds in the amount of US$1.2 million (the “Draw”) were drawn down by the Company on October 8, 2025. The principal amount of the 2025 Sandstorm Note is a maximum of US$6.5 million, of which the Company may draw down up to US$600,000 per month. An aggregate total of funds drawn to date is US$5.4 million and the remaining amount of up to US$1.1 million may be drawn down subject to prior approval by Sandstorm in its sole discretion. The Draw will be used for general working capital purposes.
The 2025 Sandstorm Note bears an interest rate of 7% per annum and will mature on September 22, 2028, with interest payments payable from June 2025 to November 2025 deferred until December 31, 2025. For more information regarding the 2025 Sandstorm Note and previous draws, please see the Company’s news releases dated March 4, May 8, May 22, July 16, and August 5, 2025.
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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Cautionary Statement Regarding Forward-Looking Information
This news release contains forward-looking statements regarding: future drawdowns under the 2025 Sandstorm Note; the use of proceeds from the Draw; and the Company’s payment of the interest and principal due under the 2025 Sandstorm Note. In making the forward-looking statements included in this news release, the Company has applied several material assumptions, including, but not limited to the availability of funds required to meet its financial obligations, business objectives, goals and capabilities and assumptions related to gold and silver prices, and the expectation that anticipated exploration, development and operating results will not differ materially from expectations. Although management considers the assumptions underlying the forward-looking statements to be reasonable based on information available to it, they may prove to be incorrect. By their very nature, forward-looking statements involve inherent risks and uncertainties, both general and specific, and the risk exists that estimates, forecasts, projections, and other forward-looking statements will not be achieved or that assumptions on which they are based do not reflect future experience. We caution readers not to place undue reliance on these forward-looking statements as a number of important factors could cause the actual outcomes to differ materially from the expectations expressed in them. These risk factors may be generally stated as the risk that the assumptions expressed above do not occur, but may include additional risks as described in the Company’s latest Annual Information Form, and other disclosure documents filed by the Company on SEDAR+. The foregoing list of factors that may affect future results is not exhaustive. Investors and others should carefully consider the foregoing factors and other uncertainties and potential events. The Company does not undertake to update any forward-looking statement, whether written or oral, that may be made from time to time by the Company or on behalf of the Company, except as required by law.
In its interim consolidated financial statements for the three and six months ended June 30, 2025 (Q2 2025″), the Company had a working capital (current assets minus current liabilities) deficiency of US$91.7 million. The Q2 2025 financial statements were prepared following accounting principles applicable to a going concern, which assumes the Company will be able to continue operations for at least twelve months from June 30, 2025 and will be able to realize its assets and discharge its liabilities in the ordinary course of operations. As of June 30, 2025, the Company does not have sufficient funds to cover its working capital deficiency and material uncertainty remains in relation to the Company’s ability to achieve the operating results and cash flow generation from the Mercedes mine necessary to fund ongoing obligations and/or to avoid seeking additional financing, and therefore the Company’s ability to continue as a “going concern” is at risk.
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.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/269768