Baja Mining Announces
of Gerald Prosalendis From Board
Corp. (TSX:BAJ - OTCQX: BAJFF) today announced
that Gerald Prosalendis has resigned from the Board
of Directors for personal and family reasons.
Baja and the Board continued success as I pursue other interests,? said Mr. Prosalendis.
thanks Mr. Prosalendis for his efforts on behalf of
(TSX:BAJ-OTCQX:BAJFF) is a mine development company with a 70 percent interest
in the Boleo copper-cobalt-zinc-manganese Project
located near Santa Rosalia, Baja California Sur,
Mexico. Baja is the project operator and a Korean syndicate of industrial
companies holds the remaining 30 percent. Boleo
is funded, currently under construction and targeted for copper commissioning
in 2012, and copper production in early 2013. Boleo
has 265 Mt of measured and indicated resources (including 85 Mt of proven and
probable reserves) and 165 Mt of inferred resources. A March 2010 updated
technical report to the 2007 definitive feasibility study, confirmed that Boleo could be developed economically at an after-tax IRR
of 25.6 percent (100 percent equity), with a minimum scheduled mine life of 23
years (during which approximately 70 Mt of the noted proven and probable
reserves will be exploited), a NPV of US$1.3 billion (8 percent discount rate),
and an average life-of-mine cash cost of negative US$0.29/lb
for copper, net of by-product credits. Metal Prices were based on SEC pricing
guidelines (which at the time of the 2010 report were US$2.91/lb Cu, US$26.85/lb Co and
US$1,175/tonne ZnSO4H2O). For
more information, please visit www.bajamining.com.
On behalf of the Board of Directors
of Baja Mining Corp.
"John W. Greenslade"
John W. Greenslade, President & Chief Executive Officer