Bear Creek Mining Corporation

2021 ESG Report and Scorecard

Published on June 9, 2022

This ESG Report and Scorecard for the year ended December 31, 2021 is Bear Creek Mining Corporation's foundational ESG report. Bear Creek Mining places significant importance on social responsibility, environmental stewardship and good governance and is pleased to commence formal reporting of its performance in these areas.

The Company's only material mineral project during 2021 was the development-stage Corani silver-lead-zinc deposit located in southern Peru.

Disclaimer and Forward Looking Statements

Company Profile

Organizational Profile

Name

Bear Creek Mining Corporation

Describe nature of activities, brands, products and services

Bear Creek Mining Corporation is a Latin
America focused mineral exploration and
mining company. We strive for excellence in
project execution, technical skill, stakeholder
accountability, financial rigour, environmental
and social responsibility, and corporate
governance. Our executives and directors have
a substantial breadth and depth of experience
discovering, advancing, financing, developing,
constructing, and operating mines in Latin
America.

Link to Corporate Website

https://bearcreekmining.com/

Industry Classification

NAICS:
21222 Gold and silver ore mining

Market Capitalization

$100 Million up to $1 Billion USD

Type of Operations

Exclusively non-producing operations

Company Headquarters

Vancouver, Canada

Link to company's statements of: Purpose, Vision, Mission and Values; Sustainability/ESG strategy; previously published Sustainability/ESG performance or reports. (URL)

https://bearcreekmining.
com/sustainability/overview/

This report is the foundational report for the
disclosure of ESG performance for Bear Creek
Mining Corporation.

Social Responsibility

ESG Accountability

Role and Name of highest authority within company for Environment, Social and Governance strategy, programs and performance.

Anthony Hawkshaw, President, CEO, and
Director

ESG Reporting Period

Unless otherwise noted, all data contained in this report covers the following period:

From

2021-01-01

2021-12-31

Geographic Scope of Report

Unless otherwise noted, the data in this report covers ESG matters related to the following locations of operations

Peru

Identify notable exclusions, and reference any existing or planned reports that do or will address these (e.g, assets recently divested or acquired, non-managed joint ventures, specific exploration activities, recently closed sites, etc.)

Bear Creek has two non-material mineral
assets that are not included in this report. See
details below.

Bear Creek has title to the Tassa gold-silver
property in Peru; an early stage mineral
exploration project that is currently under
option agreement to a third party. The Tassa
project is not material to Bear Creek Mining.
Under the terms of the Tassa option
agreement, the option holder is responsible for
conducting $3 million in exploration activities
at the property in order to earn a 51% interest
in the project. During 2021, the option holder
conducted no exploration activities at Tassa.
The Company additionally holds a sliding scale
Net Smelter Return royalty ("NSR") in the
Maria Jose Project in Peru. The Maria Jose
owner/operator conducted ongoing
underground development work during 2021.
Gold produced from this underground
development during 2021 was on a scale
insufficient to result in any material NSR
payments to the Company. Bear Creek has no
operational or ownership interest in the Maria
Jose project.
Accordingly, the Company is not including
information related to the Tassa property or
the Maria Jose project in this report and does
not intend to report on these projects
elsewhere.

Fragile and Conflict-Affected Situations

Identify all of the entity's countries of operations that align with the World Bank's list of "Fragile and Conflict-Affected Situations"

None

Business Operations Scope of Report

During 2021, Bear Creek Mining was an
exploration and development stage company
with no mineral projects in operation. On
December 17, 2021, Bear Creek announced it's
intention to acquire the operating Mercedes
gold-silver mine located in Sonora, Mexico. The
Mercedes Mine acquisition closed on April 21,
2022 at which time ownership of the operation
was transferred to the Company. Bear Creek
intends to include the Mercedes operation in its
2022 ESG Report.

Mineral Resource Types in Scope

Which of the following mineral resource types are covered by this report

• Inferred
• Indicated
• Measured

Mineral Reserve Types in Scope

Which of the following mineral reserve types are covered by this report

• Proven
• Probable

Currency

Unless otherwise noted, all financial figures referenced in this report are in the following currency

USD

Audit Status

Identify the degree to which any inputs of the report are third-party checked:

Self-Declared

Organizational Profile

Provide a list of externally-developed economic, environmental and social charters, principles, or other initiatives to which the organization subscribes, or which it endorses, e.g., GRI, UN Global Compact

We have aligned ourselves with GRI Core, GRI
Comprehensive, GRI Supplement, SASB, UN
Global Compact, CDP, ISS, and the IFC
Performance Standards.

Strategy

Provide a statement from the most senior decision-maker of the organization (i.e., CEO, chair, or equivalent senior position) about the relevance of sustainability to the organization and its strategy for addressing sustainability (CEO's message for this report)

Please see attached Message from the
President and CEO of Bear Creek Mining
Corporation.

Sustainability Message from the President and CEO

Anthony Hawkshaw, President & CEO

Provide a description of key impacts, risks, and opportunities,

Please see attached statement of
environmental, social and economic impacts,
risks and opportunities.

Bear Creek Mining Sustainability Impacts, Risks and Opportunities Statement

Ethics and Integrity

Provide a description of the organization’s values, principles, standards, and norms of behaviour

The Company has adopted policies that
underscore its commitment to high standards
in the conduct of its business and that of its
employees. These include a Code of Business
Conduct and Ethics, a Whistleblower Policy and
an Anti-bribery and Anti-Corruption Policy.
These policies are attached herein and are
available on the Company's website

Code of Conduct and Business Ethics

Whistleblower Policy

Anti-Bribery and Anti-Corruption Policy

Environment

Compliance

a. Report fines and non-monetary sanctions for non-compliance with environmental laws and/or regulations in terms of:

i. Total monetary value of significant fines

ii. Total number of non-monetary sanctions

iii. Cases brought through dispute resolution mechanisms

b. If the organization is in compliance with environmental laws and/or regulations, a brief statement if this fact is sufficient

Bear Creek Mining complies with all
environmental laws and regulations in the
jurisdictions in which it operates. The Company
has received congratulations from the
government of Peru for fulfilling the
commitments assumed in the permits it has
received related to the Corani project.

Greenhouse Gas Emissions

Scope 1

For your operations, disclose the gross global Scope1 greenhouse gas (GHG) emissions to the atmosphere of the seven GHGs covered under the Kyoto Protocol (tonne CO₂-e):

Carbon dioxide (CO₂) (tonne CO₂-e)

466.353

Methane (CH₄) (tonne CO₂-e)

Nitrous oxide (N₂O) (tonne CO₂-e)

Hydrofluorocarbon-23 (CHF₃) (tonne CO₂-e)

Hydrofluorocarbon-32 (CH₂F₂) (tonne CO₂-e)

Sulphur hexafluoride (SF₆) (tonne CO₂-e)

Nitrogen trifluoride (NF₃) (tonne CO₂-e)

Perfluoromethane (CF₄) (tonne CO₂-e)

Perfluoroethane (C₂F₆) (tonne CO₂-e)

Perfluorobutane (C₄F₁₀) (tonne CO₂-e)

Perfluorohexane (C₆F₁₄) (tonne CO₂-e)

The total amount of gross global Scope 1 GHG emissions (CO₂-e) (tonne)

466.353

The percentage of its gross global Scope 1 GHG emissions that are covered under an emissions-limiting regulation or program that is intended to directly limit or reduce emissions, such as cap-and-trade schemes, carbon tax/fee systems, and other emissions control (e.g., command-and-control approach) and permit-based mechanisms.

0.0000%

There are no specific reporting obligations and
no GHG emission-limiting regulations in Peru.

The entity shall discuss its long-term and short-term strategy or plan to manage its Scope 1 greenhouse gas (GHG) emissions.

The Company is continuing to develop the
detailed engineering of the Corani project and
provisions are being made to use the best
feasible technology in the operation designs.
Likewise, estimates of the GHG emissions that
would be generated during the construction
and operation stages of the Corani project has
been undertaken to identify opportunities to
reduce the anticipated GHG emissions.

Intensity Ratio

The total amount of gross global Scope 1 GHG emissions (CO₂-e) (tonne)

466.353

Carbon Offset

Credits

How much CO₂ (metric tonnes) offset credits were purchased?

The Company has not purchased carbon offset
credits.

What is the percentage of the offset to the total CO₂ equivalence?

0.0000%

Air Emissions

Report emissions of air pollutants that are released into the atmosphere:

Emissions of carbon monoxide, reported as CO (tonne)

As the Company’s Corani Project is not in
production and no exploration activities were
undertaken on site during 2021, air emissions
for 2021 were not calculated and in any event
are estimated to be minimal. The Company is
not required to report air emissions to Peruvian
authorities at this stage of its development. If
and when construction of the Corani mine
commences, the Company will calculate air
emissions. At this time, the Corani Project
undertakes air monitoring in two points located
in the communities of Chacaconiza and
Quelcaya. These programs have been approved
by the Authority as part of the Company's
baseline air monitoring.

Emissions of oxides of nitrogen (NOx), reported as NOx (tonne)

Emissions of oxides of sulphur (SOx), reported as SOx (tonne)

Emissions of Particulate Matter 10 micrometres or less in diameter (PM₁₀), reported as PM₁₀ (tonne)

Emissions of lead and lead compounds, reported as Pb (tonne)

Emissions of mercury and mercury compounds, reported as Hg (tonne)

Emissions of non-methane Volatile Organic Compounds (VOCs) (tonne)

Energy Management

Total energy consumed in aggregate, in gigajoules (GJ) (hydrocarbons and electricity) including the fuel types used (e.g., biomass, hydro-electric power or bioenergy)

979.78

Percentage energy consumed that was supplied by grid electricity

0.0000%

Percentage of energy consumed that is renewable energy

0.0000%

Water

Efficiency

Proportion of water reused and recycled by the site to reduce the overall consumptive water demand:

0.0000%

Water Management

Disclose the amount of water that was withdrawn from freshwater sources (in thousands of cubic meters):

1.51

Disclose the freshwater withdrawn in locations with High or Extremely High Baseline Water Stress as a percentage of the total water withdrawn

0.0000%

Disclose freshwater consumed in locations with High or Extremely High Baseline Water Stress as a percentage of the total water consumed:

Does Not Apply

Disclose the amount of water that was consumed in its operations (in thousands of cubic meters)

The Company did not have production from, or
conduct water-consuming exploration
activities such as drilling at, the Corani Project
during 2021.

Was your organization subject to any fines, enforcement orders, and/or other penalties for water-related regulatory violations

Total number of instances of non-compliance, including violations of a technology-based standard and exceedances of quality-based standards.

Water and Effluents

Water Consumption

Report the total water consumption from all areas in megaliters

1.51

Report the total water consumption from all areas with water stress in megaliters

Waste Management

Total amount of tailings waste generated from mining activities by the entity during the reporting period (tonne)

The Corani project is not an operating mine as
of December 31, 2021 and hence there are no
tailings waste generated by the project.

Tailings Storage Facilities Management

Does your company manage Tailings Storage Facilities

Disclose the approach to the development of Emergency Preparedness and Response Plans (EPRPs).

See above regarding the current status of the
Corani project.

Emergency Preparedness and Response Plans
will be part of the final detailed engineering of
the Corani TSF.

Innovation

Spending on Research, Development, and Technologies for waste management compliance and improvement

Describe nature of spending on Research, Development and Technologies for waste management compliance and improvement

The Company has not implemented Research,
Development or Technology spending
regarding waste management.

Biodiversity

Management Plan

List the environmental and biodiversity management plan(s) implemented at active sites

The following are the management plans that
are being implemented prior to the start of
construction of the Corani project.
- Environmental Monitoring Plan
- Glaciological Monitoring PLan
- Flora translocation
- Fauna Translocation
- Vicuna Management Plan
- Wetlands compensation

Air Quality Monitoring

Groundwater Testing - Corani Project

Surface Water Testing - Corani Project

Flora data collection - Corani Project

Mammal data collection - Corani Project

Hydrobiological survey - Corani Project

1.1 Mine lifecycle stages to which the plan(s) apply

Site development

1.2 The topics addressed by the plan(s)

Ecological and biodiversity impacts

1.3 The underlying references for its plan(s), including whether they are codes, guidelines, standards, or regulations; whether they were developed by the entity, an industry organization, a third-party organization (e.g., a non-governmental organization, a governmental agency, or some combination of these groups)

The management plans noted above were
developed during the preparation of the Corani
project ESIA. The Vicuña management and
Wetlands compensation plans were developed
in greater detail by the consulting firm
INSIDEO.
These management plans follow Peruvian
regulations, the guidelines of the IFC and the
Equator Principles.

Impacts

Does access to the site involve traversing a protected area

Do any of the entities concessions share a watershed with a protected area

Provide context and description of site access involving traversing protected areas, and/or watersheds shared with a protected area. Include reference to measures in place to assure access, any proactive programs to support the biodiversity of the protected area, and any formal complaints or compliance issues and related steps to resolve

The Corani project is not located within a
protected area.

Percentage of proved reserves in sites with protected conservation status or in areas of endangered species habitat:

0.0000%

Percentage of probable reserves in sites with protected conservation status or in areas of endangered species habitat:

0.0000%

Percentage of inferred, indicated and measured reserves in sites with protected conservation status or in areas of endangered species habitat:

0.0000%

Social

Employment

Scale of the Organization

i. Report the total number of direct employees worldwide (exclude contractors)

ii. Report the total number of contract employees worldwide

Female employees and contractors as percentage of total employees and contractors

21.2329%

Male employees and contractors as percentage of total employees and contractors

78.7671%

Non-binary employees and contractors as percentage of total employees and contractors

0.0000%

Total number of employees and contractors with gender not disclosed

Employees and contractors with gender not disclosed as percentage of total employees and contractors

0.0000%

Report the total number of operations

Employee Information

Report the total number of direct employees by employment type (permanent and temporary), by gender:

Total number of permanent employees

Total number of permanent employees - female

Total number of permanent employees - male

Total number of permanent employees - Non-binary

Total number of permanent employees - Gender not disclosed

Total number of temporary employees

Total number of temporary employees - female

Total number of temporary employees - male

Total number of temporary employees - Non-binary

Total number of temporary employees - Gender not disclosed

Report the total number of contractors by employment type (permanent and temporary), by gender:

Total number of permanent contractors

Total number of permanent contractors - female

Total number of permanent contractors - male

Total number of permanent contractors - Non-binary

Total number of permanent contractors - Gender not disclosed

Total number of temporary contractors

Total number of temporary contractors - female

Total number of temporary contractors - male

Total number of temporary contractors - Non-binary

Total number of temporary contractors - Gender not disclosed

Report the total number of employees by employment type (full-time and part-time), by gender:

Total number of full-time employees - female

Total number of part-time employees - female

Total number of full-time employees - male

Total number of part-time employees - male

Total number of full-time employees - Non-binary

Total number of part-time employees - Non-binary

Total number of full-time employees - Gender not disclosed

Total number of part-time employees - Gender not disclosed

Report the total number of contractors by employment type (full-time and part-time), by gender:

Total number of full-time contractors - female

Total number of part-time contractors - female

Total number of full-time contractors - male

Total number of part-time contractors - male

Total number of full-time contractors - Non-binary

Total number of part-time contractors - Non-binary

Total number of full-time contractors - Gender not disclosed

Total number of part-time contractors - Gender not disclosed

Turnover

Report the total number and rate of employee turnover during the reporting period, by age group, and gender

All Employees:

Total number of turnover (the number that left during the period)

Rate of turnover

16.4948%

Female employees:

Total number of turnover (the number of females that left during the period)

Rate of turnover, females

19.6721%

Male employees:

Total number of turnover (the number of males that left during the period)

Rate of turnover, males

15.6522%

Non-binary employees:

Total number of turnover (the number non-binary that left during the period)

Rate of turnover, non-binary

Does Not Apply

Turnover & Age Breakdown

Employees aged 30 years old and under:

Total number of turnover (the number that left during the period)

As percent of total employees

23.2877%

Rate of turnover

9.2308%

Employees aged between 30 and 50 years old:

Total number of turnover (the number that left during the period)

As percent of total employees

58.9041%

Rate of turnover

18.9349%

Employees over 50 years old:

Total number of turnover (the number that left during the period)

As percent of total employees

17.8082%

Rate of turnover

17.5439%

Identify types of employees captured in the turnover rate calculations

All employees on the payroll

Average age of employees

Labour Relations

Collective Bargaining Agreements

Percentage of total direct employees covered by collective bargaining agreements:

0.0000%

Notice Periods

Minimum number of weeks’ notice typically provided to employees and their representatives prior to the implementation of significant operational changes that could substantially affect them

15 days

Occupational Health and Safety

Work-related Injuries

Injuries - For all employees:

i. Number of fatalities as a result of work-related injury

i. Rate of fatalities resulting from work-related injury. Note: calculating per 200,000 hours worked

ii. Number of high-consequence work-related injuries (excluding fatalities)

ii. Rate of high-consequence work-related injuries (excluding fatalities)

iii. Number of recordable work-related injuries

iii. Rate of recordable work-related injuries

iv. Main types of work-related injury, e.g., confined space, trips, falls, etc.

There were no high-consequence or lost-time
work related injuries to personnel during the
year ended December 31, 2021.

v. Number of hours worked

170385

Lost Time Injuries (LTIs)

Lost Time Injuries Rate (LTIR)

Injuries - workers who are not employees but whose work and/or workplace is controlled by the organization:

i. Number of fatalities as a result of work-related injury

i. Rate of fatalities resulting from work-related injury. Note: calculating per 200,000 hours

ii. Number of high-consequence work-related injuries (excluding fatalities)

ii. Rate of high-consequence work-related injuries (excluding fatalities)

iii. Number of recordable work-related injuries

iii. Rate of recordable work-related injuries

iv. Main types of work-related injury, e.g., confined space, trips, falls, etc.

There were no high-consequence or lost-time
work related injuries to contract personnel
during the year ended December 31, 2021.

v. Number of hours worked

167523

Lost Time Injuries (LTIs)

Lost Time Injuries Rate (LTIR)

Combined (Employees and non-employees, but controlled by the organization):

Total Hours Worked

337908

Total number of all work-related injuries

Rate of work-related injuries

Total Lost Time Injuries (LTIs)

Lost Time Injuries Rate (LTIR)

Report the work-related hazards that pose a risk of high-consequence injury, including:

i. How have these hazards been determined

Hazards have been determined using the
IPERC baseline and risks are updated as new
activities occur. IPERC is the Spanish acronym
for the Peruvian legislative process of hazard
identification, evaluation and control.

ii. Which of these hazards have caused or contributed to high-consequence injuries during the reporting period

There have been no high-consequence injuries
during the reporting period.

iii. Actions taken or underway to eliminate these hazards and minimize risks using the hierarchy of controls

To date we have not had any significant or
serious injuries, only a few incidents without
causing harm to the worker. When an incident
occurs (without personal injuries), the
respective investigation is carried out and the
causes of the incident are determined. Then,
the corresponding corrective measures are
taken.

Report on actions taken or underway to eliminate other work-related hazards and minimize risks using the hierarchy of controls

The base IPERC processes have been
developed and are reviewed annually, within
which controls are established considering
their hierarchy. Likewise, the personnel is
trained regarding the identification and
application of the control hierarchy in the
IPERC matrices and in the execution of works.

Whether and, if so, why any workers have been excluded from this disclosure, including the types of worker excluded, e.g., short-term contractors

No workers have been excluded from this
disclosure

Disclose any contextual information necessary to understand how the data have been compiled, i.e., any standards, methodologies, and assumptions used

There is an annual training program in
compliance with current legal regulations.
Likewise, the monthly meetings of the Joint
Occupational Health and Safety Committee are
held, as well as inspections and other
mechanisms required by the regulations.
It should be noted that Peru has regulations
based on international requirements, such as D.
S. 024-2016 and its modifications, which are
fully complied by BCM in our Occupational
Health and Safety management.

Safety Training

Disclose the average number of training hours provided to its workforce for health, safety, and emergency management training.

Average hours of health, safety, and emergency response training for (a) full-time/direct employees:

28.77

Average hours of health, safety, and emergency response training for (b) contract employees:

23.33

Diversity and Equal Opportunity

b. Report the percentage of employees per employee category in each of the following diversity categories

Board of Directors:

Total Board of Directors

Percent Male

87.5000%

Percent Female

12.5000%

Percent Non-Binary

0.0000%

Percent under 30 years of age

0.0000%

Percent between 30 and 50 years of age

12.5000%

Percent over 50 years of age

87.5000%

Senior Management:

Total Senior Managers

Percent Male

83.3333%

Percent Female

16.6667%

Percent Non-Binary

0.0000%

Percent under 30 years of age

0.0000%

Percent between 30 and 50 years of age

0.0000%

Percent over 50 years of age

100.0000%

Salaried (excluding Senior Management):

Total Middle Managers

Percent Male

70.2703%

Percent Female

29.7297%

Percent Non-Binary

0.0000%

Percent under 30 years of age

10.8108%

Percent between 30 and 50 years of age

71.6216%

Percent over 50 years of age

17.5676%

Technical Employees (skilled hourly):

Total Technical Employees

Percent Male

Does Not Apply

Percent Female

Does Not Apply

Percent Non-Binary

Does Not Apply

Percent under 30 years of age

Does Not Apply

Percent between 30 and 50 years of age

Does Not Apply

Percent over 50 years of age

Does Not Apply

Production Employees (unskilled hourly):

Total Production Employees

Percent Male

Does Not Apply

Percent Female

Does Not Apply

Percent Non-Binary

Does Not Apply

Percent under 30 years of age

Does Not Apply

Percent between 30 and 50 years of age

Does Not Apply

Percent over 50 years of age

Does Not Apply

Contractors:

Total Contractors

Percent Male

87.8788%

Percent Female

12.1212%

Percent Non-Binary

0.0000%

Percent under 30 years of age

39.3939%

Percent between 30 and 50 years of age

50.0000%

Percent over 50 years of age

10.6061%

Security, Human Rights and Rights of Indigenous People

Identify the countries of operations within the World Bank's list of “Fragile and Conflict-Affected Situations”

None

Describe the nature of any social risks, for all operating countries, that could have a material risk to operations

Please see attached

Bear Creek Mining website - Social
Responsibility

Description of Social Risks

Percentage of proved reserves that are located in or near areas of active conflict:

0.0000%

The total amount of proved reserves

20330000

The value provided reflects the tonnage (dry
Tonnes) of ore classified as Proven Mineral
Reserves at the Corani deposit.

Percentage of probable reserves that are located in or near areas of active conflict:

0.0000%

The total amount of probable reserves

118253000

The value provided reflects the tonnage (dry
Tonnes) of ore classified as Probable Mineral
Reserves at the Corani deposit.

Percentage of inferred, indicated and measured reserves that are located in or near areas of active conflict:

0.0000%

Total amount of inferred, indicated and/or measured reserves

173300000

The value provided reflects the cumulative
total tonnage (dry Tonnes) of ore classified as
Measured, Indicated or Inferred Mineral
Resources at the Corani deposit.

Percentage of proved reserves that are located in or near areas that are considered to be indigenous peoples’ land:

100.0000%

The total amount of proved reserves

20330000

Percentage of probable reserves that are located in or near areas that are considered to be indigenous peoples’ land:

100.0000%

The total amount of probable reserves

118253000

Percentage of inferred, indicated and measured reserves that are located in or near areas that are considered to be indigenous peoples’ land:

100.0000%

Total amount of inferred, indicated and measured reserves

173300000

Describe due diligence practices and procedures with respect to indigenous rights of communities in which it operates or intends to operate

Please refer to attached response.

Due Diligence practices with respect to indigenous rights

Discuss practices and list procedures while operating in areas of conflict

Bear Creek Mining does not operate nor does it
have reserves in an area of conflict.

Community Relations

Artisanal and Small-Scale Mining

Number of company operating sites where artisanal and small-scale mining (ASM) takes place on, or adjacent to, the site (not controlled by company/unauthorized):

Percentage of company operating sites where artisanal and small-scale mining (ASM) takes place on, or adjacent to, the site

0.0000%

Report the associated risks and the actions taken to manage and mitigate these risks

There is no artisanal or small-scale
mining activity on or adjacent to the
Company's Corani project concessions or
Antapata electrical substation.

Programs

Report on community relations programs, objectives and achievements in the past 3 years

Please see the Company's website for details of
the Company's community relations programs,
objectives and achievements.

Bear Creek Mining website - Social
Responsibility

Video - Corani Technological Innovation
Center

Remote health monitoring booth

Greenhouse produce

Alpaca husbandry and animal care

Self-sustainable housing dome designed and produced at Corani Technological Innovation Center

"Smart" clothing developed at Corani Technological Innovation Center and adopted by Peruvian military

Insulative construction panels made from local ichu grass

Discuss the processes, procedures, and practices to manage risks and opportunities associated with the rights and interests of communities in areas where it conducts business

Bear Creek manages the risks and
opportunities associated with the rights and
interest of communities in the Corani region
primarily by ensuring it practices fulsome, open,
honest, transparent and frequent
communication with communities, community
leaders and individual community members.
The Company has a community relations team
of approximately 25 people who maintain a
consistent presence in the area and who work
hard to establish and maintain a trusting
relationship with community members.

Risks and Opportunities

Disclose the total number of site shutdowns or project delays due to non-technical factors.

Disclose the total aggregate duration (in days) of site shutdowns or project delays due to non-technical factors.

Governance

Climate Change

Oversight

Is there board-level oversight of climate-related issues within your organization

Not currently, but we plan to do so within the
next two years

The Company has established an Operations,
Safety and Sustainability Committee that is
responsible for oversight of sustainability
issues, including climate change, and for
reporting these issues to the Board. While the
Company recognizes the importance of climate
change issues, as it was a development stage
company with no operating mines as of
December 31, 2021, it has not at this time
adopted a formal process for the assessment or
management of climate-related issues at the
Board level. As the Company continues to
develop, it intends to adopt such measures.

Responsibility

Provide the highest management-level position(s) or committee(s) with responsibility for climate-related issues:

Sustainability committee

The Company's Operations, Safety and
Sustainability Committee oversees, on behalf of
the Board, issues related to the Company's
operational impact on the environment and
communities, including impacts, risks and
opportunities related to climate change. As the
Company was a development-stage company
during 2021 with no producing mines in
operation, its evaluation of climate change risk
is at an early stage and any potential mitigation
responses it may employ are unknown at this
time.

The Chief Operating Officer is the highest
management-level position with responsibility
for sustainability, including climate-related
issues. The COO reports directly to the CEO
and to the Operations, Safety and Sustainability
Committee regarding all sustainability issues.

Nature of primary responsibility

Assessing climate-related risks and
opportunities

Reporting

Frequency of reporting to the board on climate-related issues

As important matters arise

Incentives

Do you provide incentives for the management of climate-related issues, including the attainment of targets

No, and we do not plan to introduce them in the
next two years

Because of its current size and stage of
development, Bear Creek Mining does not
currently have a prescriptive executive
compensation plan. When making
compensation decisions regarding the
Company's executives, the Compensation
Committee considers the level of responsibility,
experience, and skills of the executive, the
executive's performance in relation to
achievement of the Company's strategic goals,
the executive's performance in managing
unplanned situations, the financial and
operating performance of the Company, and
general market conditions and trends relevant
to the Company and the mining industry in
general.

Risk and Opportunity Management

Does your organization have a process for identifying, assessing, and responding to climate-related risks and opportunities

No - important but not an immediate business
priority

As the Company had no operating mines during
the year ended December 31, 2021, its
financial and operational risk associated with
climate-related issues is minimal.

The Company's Board of Directors reviews and
assesses the Company's potential risks,
including those related to climate change, at
least annually, which risks are discussed in its
Annual Information Form. Specific operational
risks, if any, are brought to the attention of the
Board if and as they occur or evolve and
generally follow the Company's employee,
management, executive, Board committee and
Board reporting structure.

Risk Assessments

Have you identified any inherent climate-related risks with the potential to have a substantive financial or strategic impact on your business

No - risks exist, but none with potential to have
a substantive financial or strategic impact on
business

Opportunity Assessments

Have you identified any climate-related opportunities with the potential to have a substantive financial or strategic impact on your business

Strategy

Have climate-related risks and opportunities influenced your organization’s strategy and/or financial planning

Other, please specify

Bear Creek Mining is a development stage
company with no operating mines during the
year ended December 31, 2021. However, the
Company recognizes the potential for climate
related risks and opportunities associated with
its proposed Corani mine. These risks and
opportunities are primarily related to
predicted local rainfall amounts, which have the
potential to affect the Corani processing plant's
required water balance, the fresh water pond
refresh rate, and the saturation levels of the
tailings. The Corani mine design incorporates
substantive measures to mitigate the risk of
unexpected rainfall amounts on each of these
mine components.

Aside from the above, climate-related risks and
opportunities have not influenced the
Company's overall business strategy or
financial planning.

Water Management

Quality and Quantity Dependency

Rate the importance (current and future) of freshwater quality and quantity to the success of your business:

Direct use importance rating

Important

Indirect use importance rating

Neutral

Rate the importance (current and future) of sufficient quantity of recycled, brackish and/or produced water for the success of your business:

Direct use importance rating

Vital

Indirect use importance rating

Neutral

Risk Assessments

Does your organization undertake a water-related risk assessment

Yes, water-related risks are assessed

Select the options that best describe your procedures for identifying and assessing water-related risks:

i. Coverage

Full

ii. Risk Assessment Procedure

Water risks are assessed in an environmental
risk assessment

iii. frequency of Risk Assessment

Not defined

iv. How far into the future are risks considered

More than 6 years

Have you identified any inherent water-related risks with the potential to have a substantive financial or strategic impact on operations

The Company has not identified any water-
related risks through its extensive technical
studies to date that would have a substantial
financial or strategic impact. However, this will
continue to be evaluated and reviewed in
subsequent stages of construction and
operations at the Corani project.

Opportunity Assessments

Have you identified any water-related opportunities with the potential to have a substantive financial or strategic impact on your business

The Company has not identified any water-
related opportunities through its extensive
technical studies to date that would have a
substantial financial or strategic impact.
However, this will continue to be evaluated and
reviewed in subsequent stages of construction
and operations at the Corani project.

Responsibility

Provide the highest management-level position(s) or committee(s) with responsibility for water-related issues

Sustainability Committee

The Company was a development-stage
company during 2021 with no producing mines
in operation.

The Company's Operations, Safety and
Sustainability Committee oversees, on behalf of
the Board, issues related related to the
Company's operational impact on the
environment and communities, including
impacts, risks and opportunities related to
water-related issues.

The Chief Operating Officer is the highest
management-level position with responsibility
for sustainability, including water-related
issues. The COO reports directly to the CEO
and to the Operations, Safety and Sustainability
Committee regarding all sustainability issues.
At this stage of the Company's development,
any material water-related issues related to the
Corani project would be brought to the
attention of the Operations, Safety and
Sustainability Committee, if, as and when they
occur, by the COO or CEO, and reported to the
Board.

Policy

Does your organization have a documented water policy

No, but we plan to develop one within the next
2 years

The Company may consider adoption of a
formal corporate-level water policy in the
future if and as appropriate for its operational
stage.

Reporting

Frequency of reporting to the board on water-related issues

As important matters arise

Incentives

Do you provide incentives to C-suite employees or board members for the management of water-related issues

No, and we do not plan to introduce them in the
next two years

Strategy

Are water-related issues integrated into any aspects of your long-term strategic business plan:

Other, please specify

Water-related issues are heavily factored into
the Corani ESIA and mine plan and are
integrated into the Company's business
strategy by virtue of the importance of the
proposed Corani mine as a material component
of the Company's long term strategy.

General Disclosure

Structure

a. Report the governance structure of the organization, including committees of the highest governance body, e.g., the Board of Directors, the Executives, the Board Environment Committee, Board Safety Committee, the Advisory Committee, etc.

The Directors who comprise Bear Creek
Mining's Board of Directors are elected or re-
elected by the Company's shareholders
annually.

The Board of Directors oversee Management in
its execution of the Company's business goals
and strategies.
The Board of Directors is the Company's
highest governance body.
The Company's Board, Committee and
Management organizational reporting
structure is attached.

Bear Creek Mining Corporate Governance
Charters and Policies

Board and Management Organizational and Reporting Structure (December 31, 2021)

Committees

b. Report the committees responsible for decision-making on economic, environmental, and social topics, e.g., the Board of Directors, the Executives, the Board Environment Committee, Board Safety Committee, the Advisory Committee, etc.

At December 31, 2021 the Company had four
standing committees: Audit; Compensation;
Nominating and Corporate Governance; and,
Operations, Safety and Sustainability.

The Operations, Safety and Sustainability
Committee is the board committee that is
responsible for overseeing Sustainability
issues. The Audit Committee is the board
committee that is responsible for overseeing
the Company's financial and economic
decisions.

Please refer to the Board, Committee and
Management organizational reporting
structure attached in relation to the question
above.

Responsibility

a. Has the organization appointed an executive-level position or positions with responsibility for economic, environmental, and social topics , e.g., is it part of the Governance structure of the company, the CFO or internal audit reporting to the Board

Yes

The CEO reports to the Board and/or its
committees as necessary on matters related to
economic, environmental and social topics.

Reporting Structure

b. Report whether position holders report directly to the highest governance body or CEO

The Company's CEO reports directly to the
Board of Directors and is responsible for
economic, social and environmental issues. The
Company's COO, CFO and VP Corporate
Communications report directly to the CEO on:
operations, social and environmental matters;
financial and economic matters; and,
communications and regulatory matters,
respectively.

Consultation Process

Report the processes for consultations between stakeholders and the highest governance body on economic, environmental and social topics, e.g., for most mining companies it would be the executives and operations and not the Board, and if delegated, explain how

Please refer to the attached response.

SEDAR

OTC Markets (Bear Creek Mining profile)

Bolsa Valores de Lima (Bear Creek Mining
profile)

Stakeholder consultation processes

Composition

Report the composition of the highest governance body and its committees by:

Number of executive members

Number of non-executive members

Number of independent members

Less than 3 years

3-6 years

6-9 years

More than 10 years

Lists of each individual’s other significant positions and commitments, and the nature of the commitments, e.g., other boards and executive positions

See attached file for information related to
each of the Company's directors as of
December 31, 2021

Director information December 31, 2021

Number of Male governance body members

Number of Female governance body members

Number of members from under-represented social groups

Description of competencies relating to economic, environmental, and social topics

Please refer to the Company's website for
profiles of the Company's Directors.

Bear Creek Mining Directors

Description of stakeholder representation

All of Bear Creek Mining's Directors, who
served as a director as of December 31, 2021,
hold shares, stock options, restricted share
units and deferred share units in the Company.
Details are provided in the attached document.

None of the shareholders of Bear Creek Mining
that own greater than 10% of the issued and
outstanding shares of the Company (such
shareholding information being to the best of
the Company's knowledge, based on publicly
available information), nor their affiliates or
representatives, hold a seat on the Company's
Board of Directors or are an officer, employee
or consultant to the Company.

Directors' holdings in Bear Creek Mining Corporation (as of December 31, 2021)

Board Diversity

If available, provide a link to the entity's Board Diversity Policy Statement or attach the related document

Bear Creek Mining has not adopted a Diversity
Policy as of December 31, 2021 but plans to do
so during 2022.

Non-Executive Director

Is the chair of the highest governance body also an executive officer in the organization

Conflicts of Interest

Report the processes for the highest governance body to ensure conflicts of interest are avoided and managed, e.g., list procedures

The Company has a Code of Business Conduct
and Ethics that governs its responsibilities
regarding conflicts of interest.

Members of the Board of Directors of Bear
Creek Mining are required to disclose conflicts
of interest including their positions as
directors of other public and private
companies, and in meetings of the Board or its
committees must declare and refrain from
discussion or voting on any potential or actual
conflict of interest in the business affairs of the
Company.

As a listed public issuer, the Company is subject
to annual third party Financial and Procedural
Audit.

Bear Creek Mining Code of Business Conduct and Ethics

Report whether conflicts of interest are disclosed to stakeholders, including, as a minimum:

Yes

i. Cross-board membership

Yes

The Company's Information Circular includes
information related to positions held by its
Directors on the boards or in senior
management of other public companies. Please
refer to Director Information attachment
under Board Composition, above.

ii. Cross-shareholding with suppliers and other stakeholders

iii. Existence of controlling shareholder

Yes

The Company's Information Circular discloses
information regarding any shareholders owning
greater than 10% of the Company's issued and
outstanding shares (such information being to
the best of the Company's knowledge based on
publicly available sources).

No member of the Company's Board of
Directors or senior management owns a
controlling shareholder position in the
Company.

iv.Related third party disclosures

Yes

Related third-party transactions are disclosed
in the Company's quarterly and annual financial
statements and accompanying management's
discussion and analysis

Transparency

Report the highest governance body’s and senior executives’ roles in the development, approval, and updating of the organization’s purpose, value or mission statements, strategies, policies, and goals related to economic, environmental, and social topics

The Board of Directors, under the advice of the
Company's Operations, Safety and
Sustainability Committee, is the highest
governance body mandated with assessing and
reporting on sustainability matters. On behalf
of the Board of Directors, the OSS Committee
reviews the Company's ESG disclosure in its
Information Circular.

The Company has not adopted a Sustainability
Policy at this time.

Operations, Safety and Sustainability Committee Charter (as of December 31, 2021)

Report on the measures taken to develop and enhance the highest governance body’s collective knowledge of economic, environmental, and social topics, e.g., board training

Bear Creek Mining does not conduct formal
board training, including with respect to
sustainability matters. However, the Directors
of the Company have extensive experience in
board and senior management roles at mining
companies operating globally.

This experience, combined with management's
regular reports to the Board on social and
environmental matters (via monthly reports
and Board and committee meetings) ensures
the Board of Directors of the Company are well
versed on sustainability issues in general and
those specific to the Company.

In December 2019 Bear Creek Mining engaged
a third party consultant to independently
review its Corani project social license and the
resulting consultant's report was provided to
the Board and posted on the Company's
website.

On Common Ground report December 2019

Report the actions taken in response to evaluation of the highest governance body’s performance with respect to governance of economic, environmental, and social topics, including, as a minimum, changes in membership and organizational practice, (response to external evaluations)

As with all of its Board committees, the
Company's Operations, Safety and
Sustainability Committee reviews its Charter
annually, and reports any material issues,
including sustainability matters, to the Board at
least annually.

The Company discloses information related to
economic, social and environmental matters to
shareholders at least quarterly via its financial
statements and accompanying management's
discussion and analysis, and annually via its
Annual Information Form.

Report the highest governance body’s role in identifying and managing economic, environmental, and social topics and their impacts, risks, and opportunities – including its role in the implementation of due diligence processes, (committee roles)

All economic, environmental, and social topics
and their impacts, risks, and opportunities are
discussed in Audit Committee and Operations,
Safety and Sustainability Committee meetings,
respectively. Any issues requiring action are
identified, addressed, and reported to the
Board on a regular basis.

Is stakeholder consultation used to support the highest governance body’s identification and management of economic, environmental, and social topics and their impacts, risks, and opportunities, and if delegated, explain how

Yes

The Company's CEO and senior officers speak
with stakeholders frequently and report any
feedback regarding economic, environmental
and social matters to the Board on a regular
basis.

Remuneration

Report how performance criteria in the remuneration policies relate to the highest governance body’s and senior executives’ objectives for economic, environmental, and social topics

Please refer to the attached response.

Description of ESG criteria performance in remuneration policies

How are stakeholders’ views sought and taken into account regarding remuneration

Bear Creek's CEO and other members of senior
management hold frequent meetings with the
Company's investors and other stakeholders
and encourage stakeholders to provide
feedback regarding any aspect of the
Company's operations and management.
Concerns regarding the Company's executive
or Director compensation have not been raised.

Bear Creek Mining has not adopted a "Say on
Pay" policy or mechanism, however, extensive
information related to remuneration paid to
executives and Directors (who are elected or
re-elected by shareholders annually) is
provided in the Company's Information
Circular.

If applicable, report the results of votes on remuneration policies and proposals

All matters related to remuneration policies
and proposals are reviewed by Bear Creek
Mining's Compensation Committee and
approved by the Board of Directors. Please see
additional details below and the news release
attached.

The Company has a 10% "Rolling" Stock Option
Plan approved by the Board of Director in
2008 that, in accordance with TSX-V
regulations, requires annual shareholder
approval or re-approval. The Stock Option Plan
is used, at the discretion of the Board, to
provide long-term incentive awards to eligible
participants (including directors, officers,
employees and consultants). At the Company's
2021 AGM a resolution to re-approve the Stock
Option Plan was passed by shareholders of the
Company.

News Release June 9, 2021 re AGM Results

Ethics

Describe the management system and due diligence procedures for assessing and managing corruption and bribery risks internally and associated with business partners in its value chain.

Bear Creek Mining requires all Directors,
officers, employees, supply-chain service
providers and contractors to comply with the
Company's Code of Business Conduct and
Ethics and the Company's Anti-Bribery and
Anti-Corruption Policy.

All employees, supply-chain providers and
contractors must be trained in our Code of
Business Conduct and Ethics during their
induction before entering our Corani project
site. In 2021, Bear Creek Mining did not
register any incidents of corruption or bribery.
The Code of Conduct and Code of Ethics of the
Company's Peruvian subsidiaries are provided
in the links below.

Código de Conducta BCM SAC

Código de Ética empresarial BCM SAC

Bear Creek Mining Code of Conduct and Business Ethics (as of December 31, 2021)

Bear Creek Mining Anti-Bribery and Anti-Corruption Policy (as of December 31, 2021)

Report net production from activities located in the countries with the 20 lowest rankings in Transparency International’s Corruption Perception Index (CPI) (Saleable tonne):

Anti-corruption

Communication and Training

i. Total number of governance body members that have received training on anti-corruption, broken down by region

ii. Total percentage of governance body members that have received training on anti-corruption, broken down by region:

100.0000%

Total number and percentage of employees that have received training on anti-corruption, broken down by employee category and region:

1a. Total number of employees that received training on anti-corruption

The Company's employees have been provided
with the Company's Anti-Bribery and Anti-
Corruption Policy and have each signed
acknowledgements that they have read,
understood and will comply with this policy.

Total number of employees

1b. Total percentage of employees that received training on anti-corruption

100.0000%

2a. Total number of senior employees that received training on anti-corruption

Total number of senior employees

2b. Percentage of senior employees that received training on anti-corruption

100.0000%

3a. Total number of middle management employees have received training on anti-corruption

Total number of middle management employees

3b. Percentage of middle management employees have received training on anti-corruption

100.0000%

4a. Total number of technical employees that received training on anti-corruption

Total number of technical employees

4b. Percentage of technical employees that received training on anti-corruption

Does Not Apply

5a. Total number of production employees that received training on anti-corruption

Total number of production employees

5b. Percentage of production employees that received training on anti-corruption

Does Not Apply

6a. Total number of administrative employees that received training on anti-corruption

Total number of administrative employees

6b. Percentage of administrative employees that received training on anti-corruption

100.0000%

Material Topics

Process to determine material topics

Describe the process followed to determine its material topics, including:

i. How has the organization identified actual and potential, negative and positive impacts on the economy, environment, and people, including impacts on their human rights, across its activities and business relationships; provide details.

• Economic impact assessment
• Environmental impact assessment
• Social impact assessment
• Civil society organizations

ii. How has the organization prioritized the impacts for reporting based on their significance;

Bear Creek Mining does not have a formal
process for identifying or prioritizing material
topics or their economic, environmental or
social impacts. The Company relies on the
substantial experience of its directors and
management related to exploration,
development, construction, finance, community
relations, and environmental issues to assesses
material topics. The Company assesses and
addresses, if possible, impacts if, as, and when
they occur, and seeks ways to mitigate any
negative impacts before they occur.

Specify the stakeholders and experts whose views have informed the process of determining its material topics and provide details.

• Employees and other workers
• Governments
• Local communities
• Shareholders and other capital providers

List of material topics

List the organization's material topics

• Economic Performance
• Market Presence
• Local Communities

The Board of Bear Creek Mining has not
undertaken a formal material topic assessment
as of December 31, 2021. The Company will
undertake such an assessment when
reasonable in relation to its stage of
development.

List the organization's non-material topics

Energy

Provide reason for considering such topics not material, provide details.

Not applicable

As the Company was a development stage
company with no operating mines at December
31, 2021, topics that are material to the
Company's business and financial results are
limited in scope at this time.

Report changes to the list of material topics compared to the previous reporting period.

Not applicable

Tax

Describe the approach to stakeholder engagement and management of stakeholder concerns related to tax, including:

i. The approach to engagement with tax authorities

The Company adheres to all tax laws and
regulations in the regions in which it operations
(nationally, provincially and locally). The
Company adopts a pro-active approach to both
present and potential tax legislation.

The Company engages with stakeholders on a
regular basis to explain the tax, royalty and
government frameworks and their impacts on
the Company's operations. The Company
considers all stakeholder concerns if any are
raised.

ii. The approach to public policy advocacy on tax

Please see explanation above.

iii. the processes for collecting and considering the views and concerns of stakeholders, including external stakeholders

Please see explanation above.



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