Baja Mining provides Boleo Project report and corporate update

Tuesday
,
24 Dec 2013

Baja Mining

Cinto Colorado tailings and slag liberation project, as good as a TSX inventory review.Baja Mining Corp. (“Baja” or a “Company”) (TSX: BAJ – OTCQB: BAJFF) wishes to yield an refurbish on a Boleo Project construction news and a SRK Boleo technical report, formed on a latest information supposing to it by Minera y Metalurgica del Boleo, S.A.P.I. de C.V. (“MMB”). Baja binds a 10% tenure seductiveness in MMB and has defended one deputy on a five-member MMB house of directors and, as a result, has singular change over decisions relating to a Project. In addition, a Company provides a standing refurbish on a separate

Construction Schedule Update

 MMB has reported to Baja that:

–        MMB is targeting automatic execution of a copper circuit by a finish of Jan 2014, though given intensity manpower shortages during a holiday duration there is intensity that this execution might trip to a finish of February.

–        Plant commissioning is approaching to extend 3 months from a date of automatic execution of a copper circuit, with initial ore (or prohibited commissioning) targeted to embark by May 1, 2014, and initial copper prolongation by Jun 1, 2014.

–        The automatic execution of a cobalt zinc circuits is now scheduled during a beginning for a center of May 2014, with initial prolongation still scheduled during a beginning for Jul 1, 2014.

SRK Boleo Technical Report

The Company has been suggested by MMB that a many new chronicle of a SRK Report being prepared for MMB and a lenders formed on a updated Boleo cave devise has been submitted to MMB’s blurb banks and is underneath examination by a banks and their technical advisers. MMB serve advises that, in parallel, Korea Resources Corporation and MMB continue their discussions with a banks to renegotiate a lending comforts and to determine to a longer-term delay arrangement. The prior delay agreement lapsed in May 2013.

The Company is now incompetent to allege work on a updated NI 43-101 agreeable technical news on a Boleo Project until all parties are in agreement on a final cave plan.

Cinto Colorado

The Company continues to allege a authorised due industry regarding to title, licenses and environmental issues relating to Cinto Colorado. The Company is in discussions with Cinto Colorado to rectify a Agreement, including fluctuating a pre-feasibility examine smoothness date to accommodate a execution of authorised due diligence, that has taken longer than a parties creatively anticipated.

TSX Listing Review

The Company has been told by a Toronto Stock Exchange (“TSX”) that it is reviewing a eligibility for continued inventory on TSX of a bonds of a Company pursuant to Part VII of The Toronto Stock Exchange Company Manual. The Company is being reviewed underneath a Remedial Review Process and has been postulated 60 days to approve with all mandate for continued listing. If a Company can't denote that it meets all TSX mandate set out in Part VII of The Toronto Stock Exchange Company Manual on or before Feb 18, 2014, a Company’s bonds will be delisted 30 days from such date. 

In a meantime, a Company will examine if a bonds might validate for an choice inventory on TSX Venture Exchange to ensure, to a border possible, undeviating trade for a Company’s securities.

For serve information greatfully hit Baja’s Interim CEO Tom Ogryzlo during 604‐685‐2323 or around email during

info@bajamining.com

For a pdf of a news recover greatfully click here

CAUTIONARY NOTE REGARDING FORWARD LOOKING STATEMENTS: This news recover contains forward-looking statements or forward-looking information (forward-looking statements). These statements can be identified by expressions of belief, expectancy or intention, as good as those statements that are not chronological fact. Forward-looking statements engage a series of risks, uncertainties and assumptions that could means tangible formula or events to differ materially from those voiced or pragmatic by a forward-looking statements. Forward-looking statements contained in this press recover are formed on a stream estimates, expectations and projections, that a association believes are reasonable as of a stream date. Actual formula could differ materially from those expected or pragmatic in a forward-looking statements and as a outcome undue faith should not be placed on forward-looking information.

Additional risks and uncertainties can be found in the company’s stating papers filed on SEDAR (www.sedar.com), including a Management Discussion and Analysis and Annual Information Form. Forward-looking statements are given usually as during a date of this display and a association disclaims any requirement to refurbish or correct a forward-looking statements, either as a outcome of new information, destiny events or otherwise, solely as compulsory by law.

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