Bacanora Minerals Ltd. announces a correction to the Internal Rate of Return (“IRR”) calculation reported in connection with its announcement of the results of its Preliminary Economic Assessment on the Company’s Cajon Borate deposit in Sonora, Mexico. On Friday, January 4, 2013, Bacanora issued a press release announcing the PEA with a Net Present Value for the Cajon project of $US113 million, discounted at 8%. In that announcement, the Company erroneously reported an IRR calculation of 248.5%, which should have read 24.8%. The balance of the information reported remains unchanged. For further details, please refer to the Company’s press release of January 4, 2013. The highlights of the PEA are reiterated below for the benefit of readers.