BacTech Proposes Non-Brokered Private Placement.

Business Editors

TORONTO--(BUSINESS WIRE)--May 8, 2003

Appoints Additional Operations Management;

Number of shares outstanding: 12,853,268

BacTech Enviromet Corporation (TSX Venture:YBA)("BacTech") announced today a private placement to raise up to $1,446,000. A number of directors and significant shareholders of BacTech have arranged for a sale of 1,115,000 shares of the Company at a price of $0.40 through the facilities of the TSX Venture Exchange. All of the proceeds from the sale will be used to purchase a non-brokered private placement of 1,115,000 units at a price of $0.40 per unit. Each unit will consist of one common share in the capital of the Company and one share purchase warrant. One such warrant will entitle the holder thereof to purchase one additional share at a price of $0.60 in the first year and at a price of $0.80 in the second year. In addition, the company proposes to issue an additional 2,500,000 units at $0.40 to outside investors to complete the financing.

Concurrently, the Company will pay a fiscal advisory fee of $45,680 to Canaccord Capital Corporation for services provided to the Company. Proceeds of the private placement will be used for completion of BacTech's due diligence on the recent acquisition of Tonkin Springs and for general working capital. The private placement is subject to regulatory approval.

BacTech is also pleased to announce the appointment of Brad Marchant to the position of Chairman and Paul Semple to the position of Executive Vice President - Operations and Chief Operating Officer. The appointments are effective immediately.

Brad Marchant has over 25 years experience in the mining industry, primarily in operations and project management in precious and base metal mining projects. Mr. Marchant has a Masters degree in Mining and Mineral Process Engineering and has gained operations experience while employed with Pickands Mather, Placer Dome and Triton Mining. Currently he is the President and CEO of BioteQ Environmental Technologies Inc., a Vancouver based technology company that builds and operates wastewater treatment plants in the mining industry utilizing BioteQ's patented biotechnology, which is a complimentary process to BacTech's proprietary bioleaching technology. Mr. Marchant has been involved in the commercialization of bioleaching technology for over 20 years and has been involved in the construction and operation of two bioleach plants for the recovery of gold.

Paul Semple, P.Eng., holds a degree in Mineral Process Engineering and has over 20 years experience in various aspects of mining and mineral processing, including bioleaching, while employed with Placer, Royex, Cullaton Lake Gold, Kilborn Engineering and SNC Lavalin. Mr. Semple has extensive experience in the design, construction, commissioning and operation of gold and base metal operations worldwide. Paul is a co-founder of Penguin Automated Systems Inc., a company providing automated control and mine logistics management expertise in the mining industry.

The new management personnel, adding to BacTech's existing operations expertise in commercial bioleaching provided by Michael Rhodes, VP Operations, and Dr. Paul Miller, VP Engineering, will be responsible for the acquisition and development of precious and base metal projects where BacTech can earn an equity interest and apply its bioleaching expertise.

BacTech also announced today, the issuance of director, employee and consultant incentive options. A total of 715,000 options have been issued to purchase common shares at $0.45 for a period of 5 years. One third of the options vest immediately, one third vests six months from today and the balance vests in one year's time.

BacTech, in cooperation with Mintek of South Africa, has developed and patented bioleach technology for the treatment of refractory ores and concentrates to enhance the recovery of gold, silver and base metals. BacTech has successfully commissioned three commercial bioleach plants for the recovery of gold and more recently has demonstrated its technology in the selective recovery of precious and base metals from complex sulphide concentrates. Bioleaching is a commercially accepted and environmentally friendly alternative to conventional smelting operations and provides BacTech with a distinctive market advantage in the acquisition and operation of mineral properties. BacTech's business is to own and operate mining projects independently or in joint venture.

The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release