BacTech Mining Corporation
TSX VENTURE : BM

BacTech Mining Corporation

March 05, 2010 09:15 ET

BacTech Appoints Goldco Director

TORONTO, CANADA--(Marketwire - March 5, 2010) - BacTech Mining Corporation ("BacTech" or the "Company")(TSX VENTURE:BM) is pleased to announce that Mark Burridge has agreed, in principle, to become a Director of the new mining company ("Goldco") being spun out from BacTech, upon its establishment. Up until the spin out, Mr. Burridge will assume the title of Chairman of the gold subsidiary.

Mr. Burridge will work closely with existing BacTech personnel to oversee the corporate and project development activities required to establish Goldco as a recognized industry participant. Other key BacTech personnel involved with Goldco include Ross Orr, President & CEO and another intended Director of Goldco, Lou Nagy, Chief Financial Officer, Dr. Paul Miller, Vice President Technology & Engineering, Dr. Junxiang Guo, Vice President Metallurgy, and Peter Secker, Director of Projects and Engineering.

Mr. Burridge has over 20 years' experience in the metals and mining industry. His management experience includes corporate restructuring, mine development and operations, M&A and financings. Most recently, he was CEO of Cambrian Mining Plc up until its acquisition by Western Canadian Coal. Prior to this, he was Managing Director at Hatch Corporate Finance, a corporate finance advisory firm. Earlier experience includes positions with Merrill Lynch, where he was a ranked Analyst, and with Barrick Gold Corporation, as a Geological Engineer. He has a degree in Mining Geology and is a Chartered Financial Analyst.

"I am pleased we have been able to attract an individual who has a proven track record in finance and mine development. I believe Mark shares our vision of what can be achieved using our technology to leverage entry into mining projects in a cost effective manner," said Ross Orr.

BACTECH PROFILE

BacTech owns patented bacterial oxidation technology for the treatment of refractory ores and concentrates to enhance the recovery of gold, silver and base metals. The Company's focus is the acquisition of equity positions in projects amenable to bioleaching. In January the Company announced its intention to effect a divisive reorganization whereby BacTech will transfer all of its interests in mining projects and the rights to its bioleaching technology to a wholly-owned subsidiary. The common shares of the subsidiary will be distributed to the shareholders of BacTech upon completion of the reorganization. BacTech will hold an exclusive and perpetual right to use the bioleaching technology for projects related to environmental remediation of mine tailings.

Shares outstanding 89,264,706

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

  • BacTech Mining Corporation
    Ross Orr
    President & CEO
    416-813-0303 ext 222