Canadian Warrants

An application has also been granted for the listing of 5,883,666 common share
purchase warrants (the “Warrants”), all of which are issued and outstanding.

Each Warrant entitles the holder to purchase one common share at a price of $1.15
per share at any time prior to 5:00 p.m. (Toronto Time) on April 19, 2009.

The common shares and the Warrants of the Company will be listed and posted for
trading at the opening on Wednesday, February 7, 2007.

VANCOUVER, British Columbia -- Baja Mining Corp. (TSX VENTURE:BAJ)

John Greenslade, President of Baja Mining Corp. (the "Company"), is pleased to
advise that it has arranged, subject to TSX Venture Exchange approval, a private
placement of 1,600,000 Units at a price of $0.75 per Unit for proceeds of $1,200,000
to Fondel Finance B.V., a private holding company owned by Willem C. van't Wout, of
Rotterdam, and his family. Each Unit will consist of one common share and one-half
share purchase warrant. Each whole warrant will entitle Fondel to purchase a further

common share at a price of $1.15 per share. The period to exercise this warrant
right will be for a minimum of 2 years (or such greater period, to a maximum of 5
years as the TSX Venture Exchange may permit). In the event the Company enters
into any agreements for further third party equity placements in the immediate future
at a lower issue price the current placement pricing will be reduced accordingly. A
finders fee will be paid in accordance with TSX Venture Exchange policy on the
placement.

The Fondel Group is based in Rotterdam -The Netherlands. Fondel's core
businesses lie in two key areas: (1) activities in metal trading, processing and
recycling with many decades of experience); (2) shipping and stevedoring services,
which is mainly handling conventional bulk cargo, containers and roro cargo. Its
metal activities consist of toll treating large quantities of nickel and cobalt from
concentrate to metal and furthermore the Group specialises in the procurement,
trade and conversion of non-ferrous metals, and special ferro alloys, including
nickel, copper, cobalt, molybdenum, chromium. The Fondel Group not only is a
world leading metal trader but a main processor, producing various value-added
products.
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