BacTech Mining Corporation

BacTech Mining Corporation

March 22, 2005 09:36 ET

BacTech Provides Update


NEWS RELEASE TRANSMITTED BY CCNMatthews

FOR: BACTECH MINING CORPORATION

TSX VENTURE SYMBOL: BM

MARCH 22, 2005 - 09:36 ET

BacTech Provides Update

TORONTO, ONTARIO--(CCNMatthews - March 22, 2005) - BacTech Mining
Corporation ("BacTech" or the "Company") (TSX VENTURE:BM)announced today
that it has made arrangements for the satisfaction of the interest
payment that was due on March 21, 2005 to the Prudent Global Fixed
Income Fund on its CAD$3 million, 10% convertible note. No further
payments are due to Prudent Global Fixed Income Fund until March 15,
2006.

The Company continues to discuss different restructuring avenues with
third parties to enhance shareholder value.

CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING INFORMATION

Except for statements of historical fact relating to the Corporation,
certain information contained herein constitutes "forward-looking
statements" within the meaning of Section 21E of the United States
Securities Exchange Act of 1934, as amended. 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 "General Development
of the Business of the Company - Risks of the Business" in the
Corporation's annual information form dated May 17, 2004. Circumstances
or management's estimates or opinions could change. The reader is
cautioned not to place undue reliance on forward-looking statements.

Shares Outstanding 37,447,412

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Contact Information

  • FOR FURTHER INFORMATION PLEASE CONTACT:
    BacTech Mining Corporation
    Ross Orr
    President & CEO
    (416) 813-0303
    info@bactech.com
    www.bactech.com
    or
    Linear Capital Corporation
    Mark Brennan
    Toll Free: (877) 600-6001
    Direct: (416) 364-2266
    mark@linearcapital.com
    The TSX Venture Exchange has not reviewed and does not accept any
    responsibility for the adequacy or accuracy of this release.