======================================================================
Re: News Release - Tuesday, April 08, 2008
Bactech Announces Flow-Through Financing
======================================================================
Toronto, April 8, 2008 - BacTech Mining Corporation ("BacTech" or the
"Company") today announced that it will raise up to $250,000 by way of
a non-brokered private placement of up to 2,500,000 flow-through units
(the "Flow-Through Units") at a price of $0.10 per Unit. To date, the
Company has received commitments in excess of $200,000.
Each Unit will consist of one flow-through common share of the Company
and one half of a common share purchase warrant. Each warrant entitles
the holder to purchase one non flow-through common share of the Company
at a price of $0.15 until the date that is 12 months from the closing
date of the private placement. The closing is anticipated to be on or
about April 11, 2008.
In connection with the private placement, and subject to approval by
the TSX Venture Exchange, on Closing, BacTech may pay to certain
persons a finder's fee in cash of 6% of the gross proceeds raised in
respect of the offering plus that number of finder's warrants equal to
6% of the aggregate number of Flow-Through Units sold under the
offering.
The gross proceeds from the sale of the Flow-Through Units will be used
to incur Canadian Exploration Expenses and Canadian Development
Expenses (as defined in the Income Tax Act (Canada)), on the "Two Boys"
uranium property located 80 km north of Godbout, Quebec, on continued
drilling on a tailings project in Eastern Canada, and other Canadian
projects,as required. The expenses will be renounced for the 2008
taxation year.
BACTECH PROFILE
BacTech has developed and patented bacterial oxidation technology for
the treatment of refractory ores and concentrates to enhance the
recovery of gold, silver and base metals. BacTech has successfully
commissioned three bioleach plants for gold and demonstrated its
technology in the selective recovery of base metals from complex
sulphide concentrates in a joint project with Industrias Pe�oles de
C.V. of Mexico that was completed in 2001. The Company's focus is the
acquisition of equity positions in projects amenable to bioleaching.
- 30 -
For further information contact:
Ross Orr, President & CEO, 416-813-0303 ext 222
Investor Relations:
Pierre Anglos 1-800-436-2027 Email: capitalgainsco@shaw.ca
Shares outstanding 57,607,206
The TSX Venture Exchange has not reviewed and does not accept any
responsibility for the adequacy or accuracy of this release
======================================================================
Copyright (c) 2008 BACTECH MINING CORPORATION (BM) All rights
reserved. For more information visit our website at
http://www.bactech.com/ or send mailto:info@bactech.com
======================================================================
.