Toronto, Canada, October 12, 2012 – BacTech Environmental Corporation (“BacTech” or the “Company”, CNSX: BAC, OTC: BCCEF, WKN: A1H4TY) today announced that it has filed the National Instrument 43-101 compliant Preliminary Economic Assessment Study (“PEA”) for its proposed reclamation project of the Arsenopyrite Residue Stockpile (“ARS”) in Snow Lake, Manitoba, prepared by Micon International Limited.
There has been no change to the information in the PEA previously reported in the news release dated August 27, 2012.
David J. Salari, P.Eng., the Chief Operating Officer for the Company, is the Qualified Person as defined under National Instrument 43-101 responsible for the scientific and technical work on the program.
Norman Ralph Newson, M.Sc., P.Eng., P.Geo., is the Qualified Person who has verified the geological data, including sampling, analytical and test data underlying the information or opinions related to the Mineral Resource Estimate section of this PEA report, details of which can be found in the 2011 NI 43-101 report filed on SEDAR at www.sedar.com.
Micon has prepared the PEA technical report based on Mr. Newson’s resource estimate and its review of metallurgical testwork, and the estimated operating and capital costs for the Snow Lake project. Bogdan Damjanović, P.Eng., B.Sc., Christopher Jacobs, C.Eng., MIMMM, and Barnard Foo, P.Eng., M. Eng., MBA, are the Qualified Persons as defined under National Instrument 43-101 responsible for the preparation of these sections of the PEA report.
BacTech Environmental Corporation holds the perpetual, exclusive, royalty-free rights to use the patented BACOX bioleaching technology for the reclamation of tailings and mining waste materials. In December 2011, BacTech signed a contract with the Mines Branch of the Manitoba Department of Innovation, Energy and Mines to remediate an arsenopyrite residue stockpile (“ARS”) situated at the Snow Lake Mine in Snow Lake, Manitoba, to eliminate further leaching of Arsenic generated within the ARS into the surrounding watershed. The Company continues to field enquiries globally with respect to additional opportunities for remediation.
Special Note Regarding Forward-Looking Statements
This news release contains “forward-looking information”, which may include, but is not limited to, statements with respect to the future capital investments, transactions projects or operations of the Company and its projects. Often, but not always, forward-looking statements can be identified by the use of words such as “plans”, “expects”, “is expected”, “budget”, “scheduled”, “estimates”, “forecasts”, “intends”, “anticipates”, or believes” or variations (including negative variations) of such words and phrases, or state that certain actions, events or results “may”, “could”, “would”, “might” or “will” be taken, occur or be achieved.
Forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. Forward-looking statements contained herein are made as of the date of this news release and the Company disclaims, other than as required by law, any obligation to update any forward-looking statements whether as a result of new information, results, future events, circumstances, or if management’s estimates or opinions should change, or otherwise. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, the reader is cautioned not to place undue reliance on forward-looking statements.
For further information contact:
Ross Orr, President & CEO
BacTech Environmental Corporation: 416-813-0303 ext 222
Bill Mitoulas, Investor Relations
Shares outstanding 48,755,027
The Canadian National Stock Exchange (CNSX) has not reviewed and does not accept responsibility for the adequacy or the accuracy of the contents of this release.