Vancouver, British Columbia--(Newsfile Corp. - January 3, 2017) - Bearing Resources Ltd. (TSXV: BRZ) (the "Company" or
"Bearing") announces that it has entered into a property purchase agreement (the "Purchase Agreement") with Golden Predator
Mining Corp. (TSXV: GPY) (OTCQX: NTGSF) ("Golden Predator") pursuant to which Golden Predator has agreed to purchase all of
the Company's interest in certain mineral claims (the "Claims") located in the Upper Hyland River area in the southeast
region of the Yukon Territory (the "Transaction").
As partial consideration for the Claims, Golden Predator will pay to the Company an aggregate cash payment of $275,000, payable
over 48 months from the execution date of the Purchase Agreement (the "Execution Date"). In addition, Golden Predator will
issue 35,000 common shares to the Company on the Execution Date, and a further 50,000 common shares on the date that is 8 months
from the Execution Date. Golden Predator has also agreed to issue up to $600,000 worth of common shares to the Company on the dates
that are 20 months, 32 months, and 48 months from the Execution Date, having a deemed price per common share equal to the greater
of the Minimum Price and the 21-day VWAP (as such terms are defined in the Purchase Agreement).
Under the terms of the Purchase Agreement, Golden Predator will also grant to the Company a 2% net smelter return royalty on
certain claims and a 1% net smelter returns royalty on the remaining claims (the "NSR"). Golden Predator has the right to
re-purchase 50% of the NSR for the purchase price of $1,000,000 at any time.
Completion of the Transaction is conditional on the Company's completion of its previously announced transaction with Li3 Energy
Inc. (the "Li3 Transaction") and remains subject to the approval of the TSX Venture Exchange.
Jeremy Poirier, President and Chief Executive Officer of the Company commented: "We are very pleased to have entered into this
agreement with Golden Predator and believe this transaction is an excellent opportunity for the Company to take advantage of a
strong gold market moving forward. We look forward to becoming a shareholder of Golden Predator."
ON BEHALF OF THE BOARD
Signed "Jeremy Poirier"
Jeremy Poirier, President and CEO
FOR FURTHER INFORMATION PLEASE CONTACT:
Jeremy Poirier — President and CEO Bearing Resources - Telephone: 604-722-9842
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
About Bearing
Bearing is an exploration and development company. On December 9, 2016, it entered into a Binding LOI agreement (the "Binding
LOI") with Li3 Energy Inc. to acquire the advanced advanced-stage Maricunga project located in Chile (the "Maricunga
Project"), which represents one of the highest-grade development opportunities in the Americas. Assuming completion of the
transactions contemplated by the Binding LOI, Bearing will have an undivided 17.7% interest in the project with all expenditures
through to the delivery of a Definitive Feasibility Study (DFS) fully-funded by its joint-venture partners. The Maricunga Project
has had in excess of US$25 million of exploration to date.
Cautionary Statements Regarding Forward Looking Information
This news release includes certain "forward-looking information" and "forward-looking statements" (collectively
"forward-looking statements") within the meaning of applicable Canadian and United States securities legislation including the
United States Private Securities Litigation Reform Act of 1995. All statements, other than statements of historical fact, included
herein, without limitation, statements relating to the future operating or financial performance of the Company, are
forward-looking statements.
Forward-looking statements are frequently, but not always, identified by words such as "expects", "anticipates", "believes",
"intends", "estimates", "potential", "possible", and similar expressions, or statements that events, conditions, or results "will",
"may", "could", or "should" occur or be achieved. Forward-looking statements in this news release relate to, among other
things, completion of the Transaction and completion of the Li3 Transaction. Actual future results may differ
materially. There can be no assurance that such statements will prove to be accurate, and actual results and future events could
differ materially from those anticipated in such statements. Forward-looking statements reflect the beliefs, opinions and
projections on the date the statements are made and are based upon a number of assumptions and estimates that, while considered
reasonable by the respective parties, are inherently subject to significant business, economic, competitive, political and social
uncertainties and contingencies. Many factors, both known and unknown, could cause actual results, performance or achievements to
be materially different from the results, performance or achievements that are or may be expressed or implied by such
forward-looking statements and the parties have made assumptions and estimates based on or related to many of these factors. Such
factors include, without limitation, satisfaction of the various conditions precedent to completion of the Transaction and
Li3 Transaction. Readers should not place undue reliance on the forward-looking statements and information contained
in this news release concerning these times. Except as required by law, Bearing does not assume any obligation to
update the forward-looking statements of beliefs, opinions, projections, or other factors, should they change, except as required
by law.
