Bacanora Announces Principal Terms of Equity Offering

CALGARY, ALBERTA--(Marketwired - Jun 25, 2014) - Bacanora Minerals Ltd. (TSX VENTURE:BCN) ("Bacanora" or the "Company") is pleased to announce the principal terms of its previously announced brokered financing that is expected to be completed in conjunction with its application for the admission of its common shares to trading on the AIM Market of the London Stock Exchange ("AIM"). Bacanora intends to offer up to £4,750,000 of common shares at a price of 0.33p per share. Using a foreign exchange rate of £1.00 = C$1.834, the offering price per security will be approximately C$0.605 and the aggregate gross proceeds of securities offered is expected to be up to approximately C$8,708,334. If fully subscribed, an aggregate of up to 14,393,940 common shares will be issued to subscribers under the offering in addition to shares and warrants that are expected to be issued to the Company's brokers and Nominated Advisor upon completion of the financing and admission onto AIM of the Company's common shares. The proceeds of the offering will be used to cover the expenses associated with the AIM listing and to fund the preparation of a pre-feasibility study on the Company's Magdalena Borate Project, for the continuation of the Company's work program to establish the economic potential of the Sonora Lithium Project and for general working capital purposes.

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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 the potential future listing of the Corporation's common shares on the AIM, the potential offering of securities of the Company and the potential aggregate gross proceeds therefrom. 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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