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Message: Announces Private Placement

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Announces Private Placement

posted on Feb 09, 09 11:30AM

February 9, 2009

BacTech Announces Private Placement

TORONTO, CANADA--(Marketwire - Feb. 9, 2009) - BacTech Mining Corporation ("BacTech" or the "Company")(TSX VENTURE:BM), announced today that it intends to raise $500,000 in a private placement of common share units.

BacTech will issue 10 million units at $0.05 for gross proceeds of $500,000. Each unit will consist of one common share and one half of a common share purchase warrant. A full warrant entitles the holder to purchase one common share at $0.10 for a period of one year from the date of issue. The common shares and warrants will be subject to a 4 month hold period. The Company reserves the right to increase the amount of the financing if there is a demand. Completion of the private placement is subject to approval by the TSX Venture Exchange ("TSX-V").

In connection with the private placement, and subject to approval by the TSX-V, a finder's fee of 3% may be paid to arm's length parties.

The proceeds will be used to redeem certain debt obligations and for general working capital.

BACTECH PROFILE

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 61,107,206

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