Bio-Extraction Inc.
TSX VENTURE : BXI

Bio-Extraction Inc.

April 21, 2008 09:05 ET

BioExx Passes Key Environmental Screening Milestones

TORONTO, ONTARIO--(Marketwire - April 21, 2008) - Bio-Extraction Inc. (TSX VENTURE:BXI) ("BioExx") is pleased to announce that it has received formal notice from the Saskatchewan Ministry of Environment, Environmental Assessment Branch, ("EAB") that it has completed its environmental screening of the proposed BioExx canola processing facility in Saskatoon. Pursuant to that notice, the Ministry does not require an additional environmental impact assessment for the proposed project, nor does the project require Ministerial approval as provided for in the Environmental Assessment Act. In addition, BioExx has received notice from the Canadian Environmental Assessment Agency that no environmental assessment will be required under the Canadian Environmental Assessment Act. Accordingly, BioExx may now proceed with applications for the requisite, standard, and ordinary course construction and operating permits.

While BioExx had expected to receive these confirmations during the engineering and construction process, they do nevertheless represent important milestones towards the commencement of physical construction of the Saskatoon plant. Presently, BioExx anticipates receipt in due course of the further necessary and standard construction and operating permits in accordance with its anticipated start-up schedule.

"BioExx is pleased to be in receipt of these expected, but very important confirmations from the provincial and federal environmental assessment agencies. This is a key milestone in the process towards commencing construction and given the timing of the receipt, we remain on our originally intended schedule", said Chris Carl, Chief Executive Officer of BioExx.

Other News

BioExx has been actively engaged in all of the development steps required to complete the construction and operation of its Saskatoon facility on a timely basis. Some of the recent and significant steps include:

- Incorporation of a Saskatchewan corporation, BioExx Specialty Proteins Inc., a wholly-owned subsidiary of Bio-Extraction Inc., to undertake the BioExx business with respect to the Saskatoon plant

- Issuance of a formal Request for Proposal for project Design-Build services (construction) of the building

- Receipt of three bid proposals from qualified and respected contractors, which proposals are presently under evaluation by BioExx

- Completion of a Geo-Technical Report on the land being acquired by BioExx

- On-going detailed engineering of the extraction facility, in particular to ensure the timely ordering of long lead time items

- Progress toward completion of a definitive agreement for long-term seed supply with Viterra, further to the current Memorandum of Understanding between the companies

About Bio-Extraction Inc.

The global demand for ever higher food value from agriculture is growing at an unprecedented pace, driven by population growth and economic growth. At the same time, food supply constraints are increasing, due to urban development of arable land, alternate uses of crops for bio-fuel and other industrial purposes, and many crops having already maximized yields. The result is an alarming imbalance between over-demand and under-supply.

BioExx owns patented technology which allows for much lower temperatures to be used for the extraction of active ingredients and oils from biomass. This makes BioExx particularly well suited to process oilseed crops in a manner that allows for the production of much higher value additives to the food chain, in the form of higher yields of high value proteins which tend to be temperature sensitive. While forming just a small, but very valuable part of the solution to prominent global agricultural problems, BioExx has a mandate to rapidly grow the company through the construction and operation of extraction facilities around the world - and because of its much lower energy requirements, to do so in a very environmentally responsible manner.

To find out more about Bio-Extraction Inc. (TSX VENTURE:BXI), please visit our website at http://www.bioexx.com.

The statements made in this press release include forward-looking statements that involve a number of risks and uncertainties. These statements relate to future events or future performance and reflect management's current expectations and assumptions. A number of factors could cause actual events, performance or results to differ materially from the events, performance and results discussed in the forward-looking statements, such as the economy, generally, the demand for BioExx' products, the availability of funding, and the anticipated costs of BioExx' plant construction and operation. These forward-looking statements are made as of the date hereof and BioExx does not assume any obligation to update or revise them to reflect new events or circumstances. Actual events or results could differ materially from the BioExx' expectations and projections.

The TSX Venture Exchange has not reviewed this press release and neither approved nor disapproved the information contained in this press release.

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