BAJFF) wishes to provide an update regarding the Boleo Project, in which it holds a 10% interest, and the
impact of Hurricane Odile that hit the Baja Peninsula earlier in the week. Baja understands that
although the hurricane was downgraded to a tropical storm in the region of Santa Rosalia, heavy rains
and high winds in the area knocked out electricity and communications. Baja has been informed by
Minera y Metalúrgica del Boleo S.A. P.I. de CV. (“MMB”) and Korea Resources Corporation that there
has been no notable damage to the project site and communications have been restored at the site but
that the activity at the Boleo Project remains halted while the site is inspected and until clean-up is
completed.
Baja is deeply saddened to report that there was one confirmed fatality involving Boleo personnel.
Tragically, Mr. Kyoung Jin Park, Chief Operating Officer of MMB, was drowned in the town of Santa
Rosalia, located adjacent to the Boleo Project, by a flash flood attributable to heavy rains from the
storm. In addition, Mr. Sung Keun Chai, Chief Executive Officer of MMB, who is thought to have been
with Mr. Park at the time of the incident, is currently missing. Baja has been advised that the Mexican
authorities continue their search for Mr. Chai. The leadership of these two executives has been
important in advancing the Boleo Project, and Mr. Park, and Mr. Chai, if confirmed deceased, will be
greatly missed.
Mr. Tom Ogryzlo, Interim Chief Executive Officer of Baja remarked, @On behalf of Baja and its
shareholders I wish to offer my most sincere condolences to the famil ies, friends and colleagues of Mr.
Chai and Mr. Park and acknowledge the extraordinary commitment and contributions of these two
individuals to the significant progress in advancing the Boleo Project.@
For further information, please contact Baja’s Interim CEO Tom Ogryzlo at 604-685-2323 or via email at
