Bear Creek announces acquisition of Campanario gold property and exploration program for its 100% held Tassa silver/gold prospect, Peru

	    VANCOUVER, Jan. 7 /CNW/ - Bear Creek Mining Corporation (TSX Venture:
BCM) ("Bear Creek" or the "Company") is very pleased to provide an update to
its exploration efforts being advanced in concert with feasibility studies
underway at the Company's two large silver deposits, Corani and Santa Ana.
	    The Company is pleased to announce the acquisition of Campanario; an
untested mesothermal gold-silver prospect located within the prolific belt
containing the Alto Chicama/Lagunas Norte, Santa Rosa, and La Arena gold
deposits southeast of Trujillo, Peru. A 100% interest in the prospect is
acquired following back-end loaded payments totaling $2.73M over three years
subject to a 3% NSR royalty which is purchasable following completion of a
positive feasibility study. The initial payment was $60,000 which provides
full access to the property for one year. The options to buy-out the royalties
commence from the completion of a positive feasibility study.
	    The Campanario prospect focuses on a Mesozoic sedimentary sequence
intruded by strongly altered Tertiary quartz porphyry sills, dikes and small
stocks. Sub-horizontal and sub-vertical quartz-sulfide veins and veinlets are
ubiquitous especially in the sediments - intrusive contact zones. Nineteen
rock chip samples average 3.1 g/t gold, 101.0 g/t silver, and range from (less
than) 0.005 to 9.7 g/t gold and from (less than) 0.2 to 313 g/t silver within
veins several meters thick. Fifty-one rock chip samples within the surrounding
host rocks ranged from (less than) 0.005 to 0.82 g/t gold and from (less than)
0.2 to 7.5 g/t silver. Strongly anomalous zinc and lead are associated with
the entire outcrop area. Outcrops are sparse within the 1,100 hectare claim
area; however, several short shafts and tunnels have encountered hidden
mineralized veins beneath shallow soil cover. Excellent potential exists for a
near-surface, disseminated gold-silver deposit and high-grade manto-type
replacements. The target area occupies a hill top indicating low stripping
ratios and is surrounded by suitable areas for heap leaching and other
processing infrastructure. Access is excellent for year-round exploration and
community support is favorable.
	    An IP/resistivity survey and additional mapping and trenching are planned
for Q1 2010 with Phase I drilling program to target depths of at least 200-300
meters to follow. Approximately 2,000 meters of drilling is estimated
depending on results of further exploration work.
	    The Tassa prospect, located southeast of Arequipa, was previously
acquired by staking of mineral rights (see News Release 16 April, 2009).
Subsequent work has shown Tassa to be similar in size (approximately 300m by 1
km by 200m vertical), geochemistry, silver leaching amenability and geologic
setting to the Company's Santa Ana deposit currently being advanced in a
feasibility study. Eighty-seven rock chip and trench samples average 61 g/t
silver which is similar to the resource grade at Santa Ana. Significantly,
however, while the average gold value in all sampling is (less than) 0.005
g/t, Tassa locally exhibits gold values up to 0.49 g/t with a tendency for
higher gold zoning with depth indicating that unlike Santa Ana, Tassa has
potential for a gold credit under heap leach conditions. Bottle role tests
performed at ALS Chemex labs on six samples (low, moderate and high silver
value material) resulted in recoveries of up to 85% silver and 95% gold.
Continuity of mineralization is demonstrated by sampling at Tassa totaling 466
meters in three trenches averaging 65.4 g/t silver.
	    Additionally, Tassa is located approximately 15 kms from Chucapaca,
currently under exploration by the Goldfields - Buenaventura joint venture
where drilling has intercepted up to 170 meters averaging 3.3 g/t gold in a
similar geologic setting and mineralization reportedly remains open. Tassa,
located in mineralized pyroclastics adjacent to a volcanic dome, shows zoning
patterns in copper, antimony, arsenic and mercury indicating that a source
intrusive and center of mineralization is present at shallow depths.
IP/resistivity surveys and further geologic mapping and sampling will be
initiated in Q1 2010 with drilling of an estimated 2,000 meter Phase I
drilling program to commence in Q2. Drill depths will be determined based upon
further work; however, the potential for a near-surface, open pit silver
(gold) leaching deposit will be the first priority. Similar geological models
suggesting that gold mineralization may increase at shallow depths will be
tested first by drilling.
	    A map is available on the Bear Creek Mining web site that shows the
locations of these new acquisitions. To view the map please refer to:
http://www.bearcreekmining.com/i/pdf/BCMC_Projects.pdf
	    In other news, Magellan Minerals, previously Chapleau, has terminated its
option agreement on the La Yegua copper-molybdenum-gold project, citing that
it is terminating all Peruvian exploration in order to focus its efforts on
Brazil. Bear Creek is considering other joint venture partners or,
alternatively, continuing with Phase II drilling on its own.

	    Neither the TSX Venture Exchange nor its Regulation Services Provider (as
that term is defined in the policies of the TSX Venture Exchange) accepts
responsibility for the adequacy or accuracy of this release.

	    Regulatory footnote:

	    All of Bear Creek's exploration programs and pertinent disclosure of a
technical or scientific nature are prepared by or prepared under the direct
supervision of Marc Leduc, P. Eng., Chief Operating Office, Christian Rios, P.
Geo., Manager of Exploration and the President and CEO, Andrew Swarthout, P.
Geo., who serve as the Qualified Persons under the definitions of NI 43-101.
	    A section in Bear Creek's website is dedicated to sampling, assay and
quality control procedures.

	    Cautionary Note Regarding Forward Looking Statements:

	    Certain disclosure in this release, including statements regarding the
acquisition by the Company of the Campanario prospect, management's assessment
of the Campanario and Tassa prospects, the Company's plans, intentions and
estimates with respect to the Company's exploration activities and strategic
alternatives for the La Yegua project constitutes forward-looking statements.
In making the forward-looking statements in this release, the Company has
applied certain factors and assumptions that the Company believes are
reasonable, including that the Company is able to obtain any required
government or other regulatory approvals and adequate financing to complete
the acquisition of the Campanario prospect and to complete the Company's
planned exploration activities on the Campanario and Tassa prospects, that the
Company is able to procure equipment and supplies in sufficient quantities and
on a timely basis, that actual results of exploration activities are
consistent with management's expectations and that the Company is able to
enter into a joint venture for the La Yegua project or, alternatively,
complete Phase II drilling on its own. However, forward-looking statements are
subject to numerous risks, uncertainties and other factors relating to Bear
Creek's operation as a mineral exploration company that may cause future
results to differ materially from those expressed or implied in such
forward-looking statements. Such risk factors may include, among others,
actual results of the Company's exploration activities being different than
those expected by management, delays in obtaining required government or other
regulatory approvals or financing, inability to procure equipment and supplies
in sufficient quantities and on a timely basis and inability to secure a joint
venture partner for the La Yegua project or to complete Phase II drilling
without a joint venture partner. Readers are cautioned not to place undue
reliance on forward-looking statements. Bear Creek does not intend, and
expressly disclaims any intention or obligation to, update or revise any
forward-looking statements whether as a result of new information, future
events or otherwise, except as required by law.