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 February 10, 2003
BacTech to Focus on Acquisitions of Mineral Assets to Realize Value from Commercially Proven Technologies

 BacTech Enviromet Corporation ("BacTech" or the "Company") issues the following update on its activities.

BacTech has been actively identifying, evaluating and negotiating to acquire equity interests in gold and gold/copper projects that could be amenable to the Company's proprietary bioleaching process. With an established track record in treating refractory gold and base metal ore and concentrates utilizing its proprietary bioleaching processes, technology sales are no longer the focus for exploiting the Company's technology. The focus of the acquisition process is gold due to the dramatic recovery in the price of the metal and the Company's commercially proven capabilities in gold bioleach plants. Since 1994, BacTech has commissioned three successful commercial gold plants; the Youanmi Gold Mine in Western Australia, the Beaconsfield Mine in Tasmania and, most recently, the Laizhou plant in China. In addition, BacTech has recently proven bioleaching technology for the treatment of complex base metal concentrates with partners Peñoles SA de CV of Mexico and Mintek of South Africa.

It is BacTech's intention to acquire equity interests in mining projects to make the transition to becoming an operator and/or a participant in joint ventures. At present, BacTech is evaluating and/or negotiating to acquire equity interests in four projects, primarily in gold. In all cases, if successful with its negotiations, BacTech will acquire the proposed projects in joint ventures with companies that have proven mine development and operations capabilities BacTech is a leader in the development and application of bioleaching technology for use in the extraction of precious and base metals from difficult to process sulphide ores and concentrates. The process offers significant advantages in capital and operating costs and environmental impact in comparison with traditional ore and concentrate treatment processes.
 
 

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