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Re: News Release - Friday, March 05, 2010
Bactech Appoints Goldco Director
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Toronto, Canada, March 5, 2010 -- BacTech Mining Corporation ("BacTech"
or the "Company", TSX.V: BM) is pleased to announce that Mark Burridge
has agreed, in principle, to become a Director of the new mining
company ("Goldco") being spun out from BacTech, upon its establishment.
Up until the spin out, Mr. Burridge will assume the title of Chairman
of the gold subsidiary.
Mr. Burridge will work closely with existing BacTech personnel to
oversee the corporate and project development activities required to
establish Goldco as a recognized industry participant. Other key
BacTech personnel involved with Goldco include Ross Orr, President &
CEO and another intended Director of Goldco, Lou Nagy, Chief Financial
Officer, Dr. Paul Miller, Vice President Technology & Engineering, Dr.
Junxiang Guo, Vice President Metallurgy, and Peter Secker, Director of
Projects and Engineering.
Mr. Burridge has over 20 years' experience in the metals and mining
industry. His management experience includes corporate restructuring,
mine development and operations, M&A and financings. Most recently, he
was CEO of Cambrian Mining Plc up until its acquisition by Western
Canadian Coal. Prior to this, he was Managing Director at Hatch
Corporate Finance, a corporate finance advisory firm. Earlier
experience includes positions with Merrill Lynch, where he was a ranked
Analyst, and with Barrick Gold Corporation, as a Geological Engineer.
He has a degree in Mining Geology and is a Chartered Financial Analyst.
"I am pleased we have been able to attract an individual who has a
proven track record in finance and mine development. I believe Mark
shares our vision of what can be achieved using our technology to
leverage entry into mining projects in a cost effective manner," said
Ross Orr.
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 January the
Company announced its intention to effect a divisive reorganization
whereby BacTech will transfer all of its interests in mining projects
and the rights to its bioleaching technology to a wholly-owned
subsidiary. The common shares of the subsidiary will be distributed to
the shareholders of BacTech upon completion of the reorganization.
BacTech will hold an exclusive and perpetual right to use the
bioleaching technology for projects related to environmental
remediation of mine tailings.
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For further information contact:
Ross Orr, President & CEO: 416-813-0303 ext 222
Shares outstanding 89,264,706
Neither the TSX Venture Exchange nor its Regulation Services Provider
(as that term is defined in the policies of the TSX Venture Exchange)
accepts responsibility for the adequacy or accuracy of this release.
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Copyright (c) 2010 BACTECH MINING CORPORATION (BM) All rights
reserved. For more information visit our website at
http://www.bactech.com/ or send mailto:info@bactech.com
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VanEck Vectors Global Alternative Energy ETF
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EXPLORATION STAGE |
CODE : BM.V |
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ProfileMarket IndicatorsVALUE : Projects & res.Press releasesAnnual reportRISK : Asset profileContact Cpy |
BacTech Mining is a gold development stage company based in Canada. BacTech Mining holds various exploration projects in Armenia. Its main exploration properties are FERGUSSON ISLAND in Papua New Guinea and LICHKVAZ-TEY in Armenia. BacTech Mining is listed in Canada and in United States of America. Its market capitalisation is 4.3 millions as of today (US$ 3.0 millions, € 2.7 millions). Its stock quote reached its highest recent level on January 30, 1998 at 99.50, and its lowest recent point on April 22, 2016 at 0.03. BacTech Mining has 47 442 200 shares outstanding. |