October 11, 2007 TSX:BAJ
BAJA
MINING NOTIFIES 2005 WARRANT HOLDERS OF
NEAR
TERM EXPIRY DATE
Baja
Mining Corp. (the “Company”) wishes to remind shareholders that
participated in a private placement that closed in tranches between November 2,
2005 and December 21, 2005 that $0.45 warrants associated with such a placement
are expiring on their respective dates in November and December of this year.
Should warrant holders wish to exercise, please forward appropriate
documentation to the Company before the expiry dates noted on the warrant or
contact the Company for further instructions.
The Company has recently
secured a US$515 million debt facility to partly fund the development of the
Boleo Project, Santa Rosalia, Baja
California Sur,
Mexico. In
addition, the Company has closed the $30 million non brokered tranche of a $45
million equity placement announced on September 13, 2007 and will be closing on
the balance of funds in due course.
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, such
as statements that describe the Company’s expected timing of the closing
date of the balance of equity funds, 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 revenues
to differ materially from those contained in such forwarding-looking statements
include (i) fluctuations on the prices of copper, cobalt, zinc and manganese,
(ii) interpretation of contract terms, (iii) accuracy of the Company’s
and consultants’ projections, (iv) the Company’s ability to finance,
receive permits for, obtain equipment, construct and develop the El Boleo
Project, (v) the effects of weather; operating hazards; adverse geological
conditions and global warming, (vi) impact of availability of labor, materials
and equipment; and (vii) 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.