Mr. Eric Caba reports

BEAR CREEK MINING ANNOUNCES ISSUANCE OF PROMISSORY NOTE TO EQUINOX GOLD

Further to Bear Creek Mining Corp.'s news releases dated May 30, 2023, July 5, 2023, Sept. 13, 2023, and Sept. 21, 2023, the company has issued a secured convertible promissory note in the amount of $26,632,458 (U.S.) to defer a $25-million (U.S.) current liability originally payable to a wholly owned subsidiary of Equinox Gold Corp. The note bears interest at a rate of 7 per cent per annum and will mature on Oct. 19, 2028. Commencing on Nov. 30, 2023, the company will make monthly interest payments in the amount of $155,356 (U.S.) to Equinox Gold with the balance of the principal and accrued interest payable in full on the maturity date.

Equinox Gold may convert the principal amount outstanding into common shares in the authorized share structure of the company pursuant to the terms set out in the note. To secure the note, the company has granted Equinox Gold (i) a first-ranking security interest over the issued and outstanding shares or other equity interests held by the company, any guarantor (as defined therein), or any subsidiary thereof, in the capital of Minera Mercedes Minerales S. de R.L. de C.V., a subsidiary of the company which owns the company's Mercedes mine in Sonora, Mexico; and (ii) a second-ranking security interest over the issued and outstanding shares or other equity interests held by the company in the capital of Bear Creek Mining SAC, a subsidiary of the company which owns the company's Corani project in Peru.

The company obtained disinterested shareholder approval for the issuance of the note and the creation of Equinox Gold, or an affiliate of Equinox Gold, as a control person (as defined in the policies of the TSX Venture Exchange) at its special meeting of shareholders held on Sept. 21, 2023. The note is subject to final approval of the TSX Venture Exchange.

We seek Safe Harbor.