CanBiomine is focused on recovering base and precious metals from mine waste dumps and tailings dams using BacTech's bioleaching technology. CanBiomine is currently undertaking a scoping study on the former Gjegjan Copper Mine located in northeastern Albania. Based on the results of this study, BacTech will have the option of acquiring a 20% interest in the project in exchange for the use of its technology.

This is the second agreement signed by BacTech in the sphere of bioremediation of old mining tailings. Recently, the Company signed a Memorandum of Understanding with Gold Bullion Development Corp. ("Gold Bullion") (TSX VENTURE: GBB) to investigate the use of bioleaching to stabilize free arsenic in the tailings located in the Cobalt area of northeastern Ontario. In addition, BacTech and Gold Bullion hope to extract the remaining silver, cobalt and nickel left behind in the tailings.

Earlier this morning, CanBiomine announced that it had entered into an agreement with TSX-listed Caldera Resources Inc., to be acquired by Caldera in an exchange of shares.

BACTECH PROFILE

BacTech has developed and patented bacterial oxidation technology for the treatment of refractory ores and concentrates to enhance the recovery of gold, silver and base metals. BacTech has successfully commissioned three bioleach plants for gold and demonstrated its technology in the selective recovery of base metals from complex sulphide concentrates in a joint project with Industrias Penoles de C.V. of Mexico that was completed in 2001. The Company's focus is the acquisition of equity positions in projects amenable to bioleaching. The Company recently signed an agreement to acquire Yamana Gold Inc.'s 33% interest in 2 refractory gold deposits in Papua New Guinea.

Shares outstanding 60,107,206

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SOURCE: BacTech Mining Corporation