BM BC Moly Ltd

BacTech Mining Corporation ("BacTech" or the "Company") (TSX VENTURE:BM) is
pleased to announce that the Company has arranged for the conversion of 830 of
the subscription receipts issued in March 2010 into common shares and warrants
of BacTech. 


The subscription receipts were issued in anticipation of a corporate
reorganization of the Company, as originally described in the Company's press
release dated January 12, 2010 (the "Reorganization"). Recently, the Company has
received strong expressions of interest from third parties interested in
investing directly in the Company, based on the Company's Guatemala gold
project, the test work on our targeted Armenian gold project, as well as other
projects the Company is investigating. As a result, the Company has decided to
defer and restructure the Reorganization. It is now anticipated that the Company
will transfer its environmental remediation technology assets to a new company,
the shares of which would then be distributed to the Company's shareholders. The
details and timing for the modified reorganization have not been finalized.


Because the Reorganization as originally proposed will not be completed by
September 8, 2010, the holders of the subscription receipts would have been
entitled to repayment of the subscription price paid for the subscription
receipts (CAD$1,000 per subscription receipt), plus interest and certain penalty
warrants. All of the arm's length participants who invested in the subscription
receipts have agreed to accept, in satisfaction of the Company's obligations
under the subscription receipts, Units of BacTech at a price of $0.05 per unit
(20,500 Units per subscription receipt). Each Unit consists of one common share
and one common share purchase warrant exercisable at $0.10 with a term of 5
years. A total of 830, $1,000 subscription receipts will be satisfied by the
issuance of 17,015,000 common shares and 17,015,000 common share purchase
warrants of BacTech. Under the rules of the TSX Venture Exchange, the 20
subscription receipts held by insiders of the Company may not be exchanged for
Units on the same basis as the subscription receipts held by arm's length
parties, as TSX-V policies do not permit the issuance of warrants to insiders in
these circumstances. Accordingly, in satisfaction of these 20 subscription
receipts, the Company will repay approximately $21,000 (representing the
original subscription price plus six-months' interest) and will issue an
aggregate of 160,000 common share purchase warrants exercisable at $0.10 per
share for 18 months.


"We are restructuring the previously-announced Plan of Arrangement to take
advantage of moving forward with our gold projects and to conduct an equity
financing in BacTech. We are moving ahead in Guatemala and we will soon
participate in a bid for the Lichkvaz-Tey gold deposit in Armenia with Caldera
Resources. The shareholders and investors are telling us where they are willing
to invest their money and we are listening," said Ross Orr, President & CEO.


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 initial focus is the acquisition of equity positions
in projects amenable to bioleaching.


Shares outstanding 89,264,706

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