BacTech Mining Corporation
TSX VENTURE : BM

BacTech Mining Corporation

January 26, 2007 09:14 ET

BacTech Announces Uranium Joint Venture

TORONTO, ONTARIO--(CCNMatthews - Jan. 26, 2007) - BacTech Mining Corporation ("BacTech" or the "Company") (TSX VENTURE:BM) today announced the establishment of a uranium Joint Venture with Quinto Mining Corp. ("Quinto")(TSX VENTURE:QU) in Quebec. BacTech will pay Quinto a prospect fee of $25,000 (all figures Canadian) and commit to a $300,000 work program to earn a 50% interest in the property. At the end of the work program, to be completed within one year, BacTech will have an option to earn an additional 25% by spending $1 million in the ensuing 12 months.

The Quinto property ("Godbout"), located near Baie Comeau, totals 151 claims and consists of three pegmatite dykes over 1.5km. The property has been previously worked. The work includes a grab sample from each dyke, as well as a single exploratory hole that was drilled in 1979 and partially completed. The drill result report was signed and submitted to the Ministere de L'Energie et des Ressources by Mr. Francois Gilbert, ING. The results of the sampling were provided by Mr. Etienne Forbes P.Geo. The following results from both the drill hole and the sampling are not NI 43-101 compliant; they are provided for historical reference and should not be relied upon.



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Results of sampling U3O8 THO2
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Discovery hole dyke 2006 ppm 240.5 ppm
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White pegmatite dyke 261 ppm 249 ppm
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Lac des Iles dyke 1323 ppm 561 ppm
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Results of drilling 45 to 55 feet 45 to 60 feet
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Over 10 feet 1.08 lbs U3O8
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Over 15 feet .89 lbs U3O8
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The dynamics of the current uranium market are such that, when presented with this opportunity, the Board of BacTech made the decision to pursue the project. It must be stressed at this time, that BacTech will continue to pursue bioleaching projects for its proprietary technology as its core business. We are currently evaluating a number of bioleach opportunities in several countries, but selecting the right project and completing due diligence is an ongoing process. It has been the strategy of BacTech to move forward in becoming a metals producer in a range of commodities related to its technical expertise. "We see the Quinto project as being an opportunistic acquisition, turning BacTech from a pure technology leveraged mining company, to a mining company with technology leverage," said Ross Orr, BacTech's President and CEO.

In connection with the transaction, a finder's fee of $31,875 will be paid to Starlight Capital Partners, by way of 303,572 common shares of the Company at an issue price of $0.105, subject to approval by the TSX Venture Exchange. The common shares issued will be subject to a four-month hold period from the date of issuance.

CORPORATE PROFILE

BacTech has developed and patented bacterial oxidation technology for the treatment of refractory ores and concentrates to enhance the recovery of gold, silver and base metals. BacTech has successfully commissioned three bioleach plants for gold and demonstrated its technology in the selective recovery of base metals from complex sulphide concentrates in a joint project with Industrias Penoles de C.V. of Mexico. The Company's focus is the acquisition of equity positions in projects amenable to bioleaching.

CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING INFORMATION

Except for statements of historical fact relating to the Corporation, certain information contained herein constitutes "forward-looking statements". Forward-looking statements are frequently characterized by words such as "plan," "expect," "project," "intend," "believe," "anticipate" and other similar words, or statements that certain events or conditions "may" or "will" occur. Forward-looking statements are 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 projected in the forward-looking statements. These factors include the inherent risks involved in the exploration and development of mineral properties, the uncertainties involved in interpreting drilling results and other ecological data, fluctuating metal prices, the possibility of project cost overruns or unanticipated costs and expenses, uncertainties relating to the availability and costs of financing needed in the future and other factors described in the section entitled "Risks" in the Company's Management Discussion and Analysis for the Year Ended December 31, 2005. Circumstances or management's estimates or opinions could change. The reader is cautioned not to place undue reliance on forward-looking statements.

Shares outstanding 52,006,134

The TSX Venture Exchange has not reviewed and does not accept any responsibility for the adequacy or accuracy of this release.

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