THE CORANI SILVER-LEAD-ZINC PROJECT

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VANCOUVER, Feb. 7 /CNW/ - Bear Creek Mining (TSX Venture: BCM / BVL:
BCM) ("Bear Creek" or the "Company") is pleased to announce that it has
paid the entire obligation for its 100% interest in the Corani project
early and at a discount of 8% for doing so. The final payment,
totaling US$23M, is in lieu of payments of $10M due on Sept. 30, 2011
and $15M due on June 30, 2012. The $23M payment extinguishes all
remaining security for the balance of the purchase price held by Rio
Tinto including pledges shares of certain subsidiary companies,
remaining security under a general security agreement and mortgages
over the Corani project.


Andrew Swarthout, Bear Creek CEO stated "We are pleased to have
satisfied these future payment obligations releasing all encumbrances
from the Corani Project and clearing the path for future project
financing for mine development. In addition, as has been our history,
we look forward to deploying the $2M saved towards expanding our
aggressive 2011 exploration programs focused on the discovery of new
precious metal ore bodies."


About Bear Creek:


Bear Creek is focused in Peru, a mineral-rich nation with a favorable
investment climate. The Company has recently completed a
Pre-Feasibility Study on its Corani Project and a Feasibility Study on
its Santa Ana Project, which together estimate measured and indicated
resources in excess of 500 million ounces of silver of which over 320
million ounces are in proven and probable reserves providing near-term
production potential and excellent leverage to silver prices. The
Feasibility Study for Santa Ana defines a low-cost "pure silver" mine
producing 5 million ounces annually in the first six years of an
estimated 11-year mine life. The Pre-Feasibility Study for the flagship
Corani Project estimates average annual production of 10 million ounces
for the first six years of an estimated 27-year mine life, with low
cash costs and fast payback of capital costs. Santa Ana is proceeding
towards permitting and construction while Corani is undergoing a
Feasibility Study.


The TSX Venture Exchange does not accept responsibility for the adequacy
or accuracy of this release.




For further information:

Andrew Swarthout - CEO, or Patrick De Witt - Investor Relations Phone: 604-685-6269 Direct: 604-628-1111 E-mail: For further information, please visit the Company's website (http://www.bearcreekmining.com/">www.bearcreekmining.com)