Renoir Consulting and Unison Mining Consulting Begin Performance Improvement Programme for Bear Creek Mining

Miami, November 2, 2022 — Renoir Consulting (“Renoir”) will be partnering with Unison Mining Consulting (“Unison”) on a 32-week performance improvement programme for Bear Creek Mining Corporation (“Bear Creek”) at its Mercedes gold mine in Sonora, Mexico. The programme, scheduled to be completed in January 2023, will cost US$2.15 million.

This performance improvement programme will be two-pronged; Unison will be tasked with its design, while Renoir will oversee its implementation. The programme’s planned improvements are to reopen closed areas in the Mercedes mine and achieve production rates of over 70,000 AU oz. (approximately 2.177 metric tons) annually while reducing overall costs.

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I am excited about the participation of Renoir and Unison at Mercedes. Their previous analysis of potential improvements identified several opportunities for productivity improvements and cost reductions at Mercedes.

Eric Caba, President & COO, Bear Creek

Krishna Paupamah, Founder and Group CEO of Renoir Consulting said: “For over two decades, we have successfully completed many mine design and implementation projects throughout the world. After completing an opportunity review for Mercedes and understanding Bear Creek management’s vision and commitment, we see the huge potential for improvement in Mercedes. Consequently, we are eager to not only implement the Mercedes optimization programme but to participate as shareholders in the growth and the benefits from this project and hopefully others in Bear Creek’s future.”

Eric Caba, President and COO of Bear Creek added: “I am excited about the participation of Renoir and Unison at Mercedes. Their previous analysis of potential improvements identified several opportunities for productivity improvements and cost reductions at Mercedes. We enthusiastically engaged them for this implementation phase. Their expertise and experience will help improve the long-term performance of the mine.”

According to Omar Martinez Garcia, Technical Services Superintendent at Bear Creek’s Mercedes Mine, this programme is already off to a positive start. “This project has been of great help. It has provided us with management tools that allow us to identify opportunities for improvement which today represent winning ounces. Not only are we fulfilling the committed goals, we are also becoming a winning team.”