Boleo Project Shareholder Loans Converted; Baja and KORES Agree Key Terms of New Shareholder Agreement .
Baja Mining Corp. announces that it is joining Korea Resources Corporation and the other members of the Korean Consortium in converting all of the outstanding shareholder loans of Minera y Metalúrgica del Boleo S.A. P.I. de CV. into equity of MMB. The Conversion is intended to assist MMB in obtaining further financing for the Boleo Project and in its efforts to restructure its existing project financing. Baja and KORES have also agreed in principle on certain terms to be included in a new MMB shareholders agreement (the “New Shareholders Agreement”) proposed to replace the current MMB shareholders agreement.









