BacTech Mining Corporation

BacTech Mining Corporation

July 28, 2009 09:30 ET

BacTech Engaged to Study Bioleaching for Continental's Viken Deposit in Sweden

TORONTO, CANADA--(Marketwire - July 28, 2009) - BacTech Mining Corporation ("BacTech" or the "Company")(TSX VENTURE:BM) is pleased to report that Continental Precious Minerals Inc. ("CPM"), a TSX-listed Company (TSX:CZQ), has commissioned the Company to examine the potential use of BacTech's bioleach technology for the treatment of CPM's black oil shale assets in Sweden known as the Viken deposit.

Black shale deposits are polymetallic by nature, with a variable proportion of sulphide components which may lend themselves to treatment using bioleaching to remove the sulphide components and liberate valuable metals. The metal values, including uranium, molybdenum, nickel and vanadium, are generally encapsulated or trapped in organic matter and are present as small-sized particles. A National Instrument 43-101 compliant technical report was recently published by CPM on the Viken deposit outlining an inferred resource estimate of 2.83 billion tonnes.

An investigation on the amenability of ore samples from the Viken deposit to BacTech's bioleaching technology will be conducted in the Microbial Geochemistry Laboratory at the University of Toronto under the guidance of Dr. Chris Kennedy and Dr. Paul Miller, BacTech's Vice President of Technology and Engineering. A laboratory was recently established by Dr. Kennedy at the University, suitable for conducting such investigations. Ross Orr, President & CEO of BacTech commented, "This is a new potential area of application for our technology and, considering the importance of such deposits, it could represent a highly profitable diversification of our business into the treatment of low grade oil shales for metal recovery." The initial investigation is anticipated to take about four months to complete.


Except for statements of historical fact relating to the Company, 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, 2008. Circumstances or management's estimates or opinions could change. The reader is cautioned not to place undue reliance on forward-looking statements.


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 June 2008, the Company signed an agreement to acquire Yamana Gold Inc.'s 33% interest in two refractory gold deposits in Papua New Guinea. In September 2008, BacTech signed an MOU to investigate the use of bioleaching to reprocess arsenic-laden tailings in Cobalt, Ontario. This is the Company's first foray into the cleantech industry. BacTech is continuing to evaluate additional remediation projects.

Shares outstanding 83,857,206

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