Toronto, Canada, October 26, 2010 – BacTech Mining Corporation (“BacTech” or the “Company”, TSX.V: BM) is pleased to announce that the Notice of Meeting and Management Information Circular related to the Company’s proposed Plan of Arrangement (POA) was mailed to shareholders on October 21st. The Notice of Meeting and Circular are posted on SEDAR (www.sedar.com) and also on the Company’s web site at www.bactech.com. Shareholders of record at September 27th are entitled to vote on the POA. The Special Meeting of Shareholders will be held in Toronto on November 12th.
BacTech is planning to separate into two companies. One, to be called REBgold Corporation, will continue to pursue opportunities in the mining sector where the Company can acquire an equity position in projects whereby its bioleaching technology can make a significant economic difference. The second company, BacTech Environmental Corporation, will pursue reclamation projects for mine tailings using bioleaching technology licensed from REBgold Corporation.
BacTech also announces that Mr. Peter Secker, currently assisting BacTech in its search for mining opportunities, has agreed to resign as Director of Projects & Engineering in order to join the REBgold Corporation Board of Directors as an independent director.
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 initial focus is the acquisition of equity positions in projects amenable to bioleaching.
For further information contact:
Ross Orr, President & CEO: 416-813-0303 ext 222
Shares outstanding 133,383,039
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