BacTech Mining Corporation

BacTech Mining Corporation

February 19, 2007 14:04 ET

BacTech Announces Flow-Through Financing

TORONTO, ONTARIO--(CCNMatthews - Feb. 19, 2007) - BacTech Mining Corporation ("BacTech" or the "Company") (TSX VENTURE:BM) today announced that it will raise up to $325,000 by way of a non-brokered private placement of up to 1,300,000 flow-through units (the "Flow-Through Units") at a price of $0.25 per Unit. Each Unit will consist of one flow-through common share (a "Flow-Through Share") of the Company and one half of a common share purchase warrant (each whole common share purchase warrant, a "Warrant"). Each Warrant entitles the holder to purchase one non flow-through common share of the Company at a price of $0.30 until the date that is 12 months from the closing date of the private placement. The closing is anticipated to be on or about March 2, 2007.

In connection with the private placement, and subject to approval by the TSX Venture Exchange, a finder's fee of 5% may be paid to arm's length parties.

The gross proceeds from the sale of the Flow-Through Units will be used to incur Canadian Exploration Expense (as defined in the Income Tax Act (Canada)), on the Godbout uranium properties located in Quebec, and will be renounced for the 2007 taxation year. As outlined in a press release dated February 14, such exploration work will involve initial drilling of approximately 10 holes on the Godbout "A" deposit in the next several weeks, with further work on the Godbout "B" project anticipated in the spring.


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 that was completed in 2001. The Company's focus is the acquisition of equity positions in projects amenable to bioleaching. Recently, the Company expanded its focus through the establishment of a uranium Joint Venture with Quinto Mining Corporation in Quebec.


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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