Mr. Eric Caba reports

BEAR CREEK MINING MONETIZES TASSA PROJECT IN PERU

Bear Creek Mining Corp. has executed an agreement dated Dec. 10, 2025, to sell its 100-per-cent interest in the non-core Tassa project in southern Peru to Colque Holding Pty. Ltd., a private Australian company for total consideration of $3.5-million (U.S.) to be made in staged payments over a 30-month period as outlined below.

The consideration comprises:

• $30,000 (U.S.) signing fee (paid);
• $470,000 (U.S.) upon execution of the agreement (paid);
• $500,000 (U.S.) on or before six months following the execution date (the first deferred payment);
• $1-million (U.S.) on or before 18 months following the execution date (the second deferred payment);
• $1.5-million (U.S.) on or before 30 months following the execution date (the third deferred payment).

The deferred consideration payments are secured in favour of the company by a first-ranking security interest over the Tassa concessions.

Upon completion of all deferred consideration and settlement of Colque's acquisition of Tassa, Colque (or its successors) will grant the company a 2-per-cent net smelter return royalty in respect of all minerals produced from Tassa, of which Colque may buy back a 1-per-cent royalty through the payment of an additional $2.5-million (U.S.).

Eric Caba, president and chief executive officer of the company, comments: "This transaction underscores Bear Creek's commitment to focus its capital and management resources on its core assets while unlocking value from non-core projects. We are very pleased to have secured both near-term and potential long-term value from the Tassa project, and we look forward to following Colque's activities at the property."

A commission fee of $70,000 (U.S.) (representing 2 per cent of the total consideration amount) was paid to BLB Advisory EIRL in compensation for strategic advisory services leading to the successful sale of the Tassa project. BLB Advisory EIRL is arm's length to the company.

We seek Safe Harbor.