MINING ASSETS: BacTech to separate primary mining, tailings segments

TORONTO — BacTech Mining Corp. has decided to reorganize, separating its primary mining and remediation of mine tailings segments into discrete companies.

BacTech will establish a new company, Goldco, to hold all its existing mining properties and proprietary bioleaching technology for gold and base metal recovery. The change should be made over the next three or four months, and BacTech anticipates listing Goldco on the TSX Venture exchange.

The company's bioleaching technology will be applied for the first time to base metal recovery if plans for a demonstration plant to treat 200,000 t/y of tailings from previous mining operations near Cobalt, ON, proceed as planned. Cobalt, silver and nickel will be recovered, and the arsenic in the tails will be removed. Eventually BacTech would like to build a commercial plant that could treat 1.0 million t/y of tailings over 15 years or more.

Additional information is posted at www.BacTech.com.