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

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Contacts: BacTech Mining Corporation Ross Orr President & CEO 416-813-0303 ext 222