March
8,
2010
TSX:BAJ
OTCQX:
BAJFF
NEWS RELEASE
BAJA FILES BASE SHELF PROSPECTUS
Baja today announced the filing of a preliminary short form
base shelf prospectus (the ?Prospectus?) with the Securities Commissions in
each of the provinces of British Columbia, Alberta and Ontario, and a
corresponding shelf registration statement on Form F-10 (the ?Registration
Statement?) with the United States Securities and Exchange Commission.
These filings, when made final, will allow Baja to make offerings of any
combination of common shares, debt securities, warrants to purchase common shares,
share purchase contracts and subscription receipts (together, the ?Securities?)
up to Cdn$500 million at any time during the 25 month period that the
Prospectus remains effective. Securities may be offered separately or
together, in amounts, at prices and on terms to be determined based on market
conditions at the time of sale and set forth in an accompanying shelf
prospectus supplement. Net proceeds from any offering under the base
shelf prospectus will be used for the development of the Boleo Project as well
as working capital requirements.
The Registration Statement relating to the Securities has
been filed with the United States Securities and Exchange Commission, but is
not yet effective. Securities may not be sold nor may offers to buy be
accepted prior to the time the Registration Statement becomes effective.
This news release does not constitute an offer to sell or the solicitation of
an offer to buy, nor will there be any sale of Securities in any state in which
such offer, solicitation or sale would be unlawful prior to the registration or
qualification under the securities laws of any such state.
Copies of
the Prospectus and Registration Statement are available at www.sedar.com and www.sec.gov, respectively, as well as from Baja
at 2350-1177 West Hastings Street, Vancouver, British Columbia, Canada, V6E
2K3, Attention: Corporate Secretary.
Baja
Mining is a
Vancouver-based publicly traded mine development company (TSX:BAJ; OTCQX:BAJFF)
with a 70% interest in the Boleo copper-cobalt-zinc-manganese project located
near Santa Rosalia, Baja California Sur, Mexico. A Korean syndicate holds the
remaining 30%. Baja is the project operator.
ON BEHALF OF THE BOARD OF DIRECTORS OF
BAJA MINING CORP.
?John
W. Greenslade?
JOHN W. GREENSLADE, PRESIDENT
For
further information please contact John Greenslade, President, at (604)
685-2323
Some of the
statements contained in this release are forward-looking statements within the meaning of the U.S. Securities Act of 1933
and U.S. Securities Exchange Act of 1934 and forward-looking information within
the meaning of Canadian securities laws, such as statements that describe
the anticipated offering of securities under the Company?s shelf prospectus and
registration statement, the future effectiveness of the Company?s registration
statement, the anticipated use of proceeds from any offering made under the
Company?s shelf prospectus and registration statement. and other
statements. Since forward-looking statements are not statements of
historical fact and address future events, conditions and expectations,
forward-looking statements by their nature inherently involve unknown risks,
uncertainties, assumptions and other factors well beyond the Company?s ability
to control or predict. Actual results and developments may differ
materially from those contemplated by such forward-looking statements. Material
factors that could cause actual results to differ materially from those
contained in such forwarding-looking statements include risks related to the
Company?s Registration Statement not becoming effective, risks related to
changes in the Company?s condition requiring anticipated use of proceeds
to change, fluctuations on the prices of copper, cobalt, zinc and
manganese, interpretation of contract terms, accuracy of the
Company?s and consultants? projections, the Company?s ability to
finance, receive permits for, obtain equipment, construct and develop the El
Boleo Project, the effects of weather; operating hazards; adverse
geological conditions and global warming, impact of availability of
labor, materials and equipment; and changes in governmental laws,
regulations, economic conditions or shifts in political attitudes or stability.
These forward-looking
statements represent the Company?s views as of the date of this release. There
can be no assurance that forward-looking statements will prove to be accurate,
as actual results and future events could differ materially from those
anticipated in such statements. Readers should not place undue reliance
on any forward-looking statements. Cautionary Note to U.S. Investors -The
United States Securities and Exchange Commission (SEC) permits U.S. mining
companies, in their filings with the SEC, to disclose only those mineral
deposits that a company can economically and legally extract or produce.
We use certain terms in this press release such as "measured,"
"indicated," and "inferred" "resources", which
the SEC guidelines strictly prohibit U.S. registered companies from including
in their filings with the SEC. U.S. Investors are urged to consider
closely the disclosure in our Form 20-F which may be secured from us, or from
the SEC website at http://www.sec.gov/edgar.shtml.
The Toronto
Stock Exchange neither approves nor disapproves the information contained in
this news release.
Baja Mining Corp.
Tel: 604-685-2323
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