BM BC Moly Ltd

BacTech Mining Corporation ("BacTech" or the "Company") (TSX VENTURE:BM) today
announced that it proposes to raise up to $2.0 million by way of a private
placement of up to 26,666,667 units priced at $0.075 per unit. Each unit
consists of one common share of BacTech and one common share purchase warrant.
The warrant entitles the holder to buy an additional common share for a period
of 3 years at a price of $0.105 per share. 


The Company has received commitments for approximately $1.8 million of the
financing. Of the commitments received to date, Yamana Gold Inc. ("Yamana") has
confirmed its intention to subscribe for 13,333,333 units or $1 million of the
financing. Yamana has conducted studies on BacTech's proprietary bioleach
processing technology. It is one of a number of processing technologies being
considered for Yamana's majority-owned Jeronimo gold project in Chile. In
addition, Baker Steel Resources Trust ("Baker Steel") of London, England, will
purchase up to 4,666,666 units, or $500,000. 


In connection with the financing, and subject to approval by the TSX Venture
Exchange, a finder's fee of 5% cash may be paid to certain arm's length parties.
Closing of the financing is conditional upon execution of definitive
subscription documents and receipt of all required regulatory approvals. 


On June 23, the Company announced that the holders of subscription receipts
issued in March 2010 would convert the same into shares and warrants of the
parent company, BacTech Mining Corporation, instead of into BacTech Gold
Corporation, a subsidiary of BacTech. As a result of the above, Baker Steel will
become the largest single shareholder, controlling 18.21% of BacTech. It is
anticipated that following the closing of the financing, an individual nominated
by Baker Steel will be appointed to the BacTech board of directors. 


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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