Bacanora Provides Update on Rare Earth Minerals Joint Venture Agreement #2

CALGARY, ALBERTA--(Marketwired - Mar 26, 2014) - BACANORA MINERALS LTD. ("Bacanora" or the "Company") (TSX VENTURE:BCN) announced today that Rare Earth Minerals, Plc ("REM") has satisfied all conditions under the terms of the joint venture agreement between Bacanora and REM in respect of the San Gabriel, Buenavista and Megalit concessions ("Concessions") (details of which are set out in the Company's press release dated March 12, 2014) to earn a 10% interest in the subsidiary that will hold the Concessions (Minera Megalit S.A. de C.V.). In particular, REM has provided the Company with an upfront cash payment of $250,000, together with a further $500,000, which has been allocated towards exploration and drilling on the Concessions. With this condition having been satisfied, the Concessions are now in the process of being transferred to Minera Megalit S.A. de C.V., following which shares therein will be issued to REM.

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Except for statements of historical fact, this news release contains certain "forward-looking information" within the meaning of applicable securities law. Forward-looking information is frequently characterized by words such as "plan", "expect", "project", "intend", "believe", "anticipate", "estimate" and other similar words, or statements that certain events or conditions "may" or "will" occur. In particular, forward-looking information in this press release includes, but is not limited to statements regarding the transfer of the Concessions to, and the shareholdings within, Minera Megalit S.A. de C.V. Although we believe that the expectations reflected in the forward-looking information are reasonable, there can be no assurance that such expectations will prove to be correct. We cannot guarantee future results, performance or achievements. Consequently, there is no representation that the actual results achieved will be the same, in whole or in part, as those set out in the forward-looking information.

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