Bacanora Minerals Announces Completion of Arrangement to Facilitate Its Re-Domicile to the United Kingdom

Calgary, Alberta (FSCwire) - Bacanora Minerals (TSX-V: BCN and AIM: BCN), the London and Canadian listed lithium company, announces that further to its announcement on 20 March 2018, that the plan of arrangement under the Business Corporations Act (Alberta) (the "Arrangement") involving Bacanora Minerals, Bacanora Lithium plc ("Bacanora UK"), 1976844 Alberta Ltd. ("AcquireCo") and the holders (the "Bacanora Canada Shareholders") of common shares of Bacanora Minerals ("Bacanora Canada Shares") to implement its re-domicile to the United Kingdom was completed on 23 March 2018. The Arrangement was approved at the annual and special meeting of Bacanora Canada Shareholders held on 19 March 2018 and the final order regarding the Arrangement was granted by the Court of Queen's Bench of Alberta on 19 March 2018.

Pursuant to the Arrangement, Bacanora UK has acquired, indirectly through Acquireco, all of the issued and outstanding Bacanora Canada Shares and each Bacanora Canada Shareholder will receive one ordinary share (the "Bacanora UK Shares") of Bacanora UK in exchange for each Bacanora Canada Share held.  Bacanora Canada Shares will be delisted from the TSX Venture Exchange and cancelled from trading on the AIM market of the London Stock Exchange ("AIM") as of the close of business on 23 March 2018.  The Bacanora UK Shares are expected to be admitted to trading on AIM at 8.00 a.m. (London time) on 26 March 2018.

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ABOUT BACANORA CANADA:

Bacanora Canada is a Canadian and London listed lithium exploration and development company (TSXV: BCN and AIM: BCN). The Company is exploring for, and developing a pipeline of international lithium projects, with a primary focus on its Sonora Lithium Project. The Company's operations are based in Hermosillo in northern Mexico.  The Company is led by a team with lithium expertise and proven mine development, construction and operations experience.

The Sonora Lithium Project¹, which consists of ten mining concession areas covering approximately 100 thousand hectares in the northeast of Sonora State. The Company, through drilling and exploration work to date, has established a Measured plus Indicated Mineral Resource estimate of over 5 Mt (comprising 1.9Mt of Measured Resources and 3.1Mt of Indicated Resources) of LCE² and an additional Inferred Mineral Resource of 3.7 Mt of LCE.  The Company's Feasibility Study (which was announced 12 December 2017) has established  Proven Mineral Reserves (in accordance with NI 43-101) of 1.67 MT and Probable Mineral Reserves of 2.85 Mt LCE and confirmed the economics associated with becoming a 35,000 tpa lithium carbonate and 30,000 tpa SOP producer in Mexico.  In addition to the Sonora Lithium Project, the Company also has a 50% interest in the Zinnwald Lithium Project and the Falkenhain Licence in southern Saxony, Germany.  Each of the Zinnwald Lithium Project and the Falkenhain Licence are located in a granite hosted Sn/W/Li belt that has been mined historically for tin, tungsten and lithium at different times over the past 300 years. The strategic location of the Zinnwald Lithium Project and the Falkenhain Licence provides close geographical proximity to the German automotive and downstream lithium chemical industries.

1 The Sonora Lithium Project is comprised of the following lithium properties: La Ventana lithium concession, which is 100 percent owned by Bacanora and El Sauz and Fleur concessions, which are held by Mexilit S.A. de C.V. ('Mexilit') which is owned 70 percent by Bacanora and 30 percent by Cadence Minerals Plc.

2 LCE = lithium carbonate (Li₂CO₃) equivalent; determined by multiplying Li value in percent by 5.324 to get an equivalent Li₂CO₃ value in per cent. Use of LCE is to provide data comparable with industry reports and assumes complete conversion of lithium in clays with no recovery or process losses.

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