CALGARY, ALBERTA--(Marketwire - May 6, 2011) -


BACANORA MINERALS LTD. (the "Corporation" or "Bacanora") (TSX VENTURE:BCN) is pleased to announce the terms of a proposed private placement financing for aggregate gross proceeds of not less than $5,000,000 of units of the Corporation at a price of $0.50 per unit. Each unit will consist of one common share and one-half of one common share purchase warrant, with each whole warrant being exercisable into one common share at a price of $0.80 for a period of eighteen (18) months.

It is expected that the proceeds of this offering will be applied to advance the exploration and development of Bacanora's borate properties and, subject to feasibility studies, related activities and positive results, to bring those properties into commercial production. It is important to mention that current resource estimation on the El Cajon Borate Deposit located in Sonora, Mexico reported 11.1 million tonnes of colemanite in total indicated resources, averaging 9.9% B2O3 using a cut off of 8% B2O3 (for further details, please refer to the Corporation's press release dated February 9, 2011).

In addition to the foregoing, the proceeds of the offering will also be used for further exploration drilling and related activities on Bacanora's lithium properties and for general working capital purposes.

Although this offering will be non-brokered, Bacanora expects to pay compensation consisting of up to 6% in cash commissions and 6% in compensation warrants to eligible parties. All of the securities to be issued pursuant to the private placement will be subject to a 4-month hold period in accordance with applicable securities laws and regulatory policies. Completion of the private placement is subject to the approval of the TSX Venture Exchange.

Reader Advisory

This press release shall not constitute an offer to sell or the solicitation of an offer to buy any securities nor shall there be any sale of securities in any state in the United States in which such offer, solicitation or sale would be unlawful. The securities offered will not be and have not been registered under the United States Securities Act of 1933 and may not be offered or sold in the United States absent registration or an applicable exemption from registration requirements.

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 use of the net proceeds of the offering. 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.

Forward-looking information is based on the opinions and estimates of management at the date the statements are made, and are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those anticipated in the forward-looking information. Some of the risks and other factors that could cause the results to differ materially from those expressed in the forward-looking information include, but are not limited to: general economic conditions in Canada, the United States, Mexico and globally; industry conditions, governmental regulation, including environmental regulation; unanticipated operating events or performance; failure to obtain industry partner and other third party consents and approvals, if and when required; the availability of capital on acceptable terms; the need to obtain required approvals from regulatory authorities; stock market volatility; competition for, among other things, capital, skilled personnel and supplies; changes in tax laws; and the other risk factors disclosed under our profile on SEDAR at Readers are cautioned that this list of risk factors should not be construed as exhaustive.

The forward-looking information contained in this news release is expressly qualified by this cautionary statement. We undertake no duty to update any of the forward-looking information to conform such information to actual results or to changes in our expectations except as otherwise required by applicable securities legislation. Readers are cautioned not to place undue reliance on forward-looking information.

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.

Contact Information:

Bacanora Minerals Ltd.
Paul Conroy
President and Chief Executive Officer
(403) 237-6122
(403) 237-6144 (FAX)