Bear Creek Mining Grants Stock Options

Vancouver, British Columbia--(Newsfile Corp. - December 15, 2022) - Bear Creek Mining Corporation (TSXV: BCM) (OTCQX: BCEKF) (BVL: BCM) ("Bear Creek" or the "Company") announces that its Board of Directors has authorized and approved the grant of 3,750,000 stock options (the "Stock Options") under its stock option plan (the "Stock Option Plan") to certain directors, officers and employees of Bear Creek. The Stock Options are subject to vesting provisions in accordance with the Stock Option Plan and are exerciseable on or before December 15, 2032 at the strike price of Cdn $0.69 per share.

In recognition of the Company's focus on preserving cash throughout the acquisition of the Mercedes gold mine and the ongoing optimization program to improve Mercedes' production, directors elected to forego their 2022 board fees totaling, as a group, US $300,000. The Company's CEO, Anthony Hawkshaw, and President and COO, Eric Caba, also forfeited 25% of their annual salaries during 2022, totaling US$168,500. Directors and officers of the Company invested a total of CAD $2 million into Bear Creek's treasury in June 2022 through participation in the Company's private placement financing.

On behalf of the Board of Directors,

Anthony Hawkshaw
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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