BacTech Relinquishes 55% Interest in Tonkin Springs Property.TORONTO -- BacTech Mining Corporation ("BacTech") (TSX TSX Toronto Stock Exchange (TSE before April, 2002) TSX Transfer from Stack Pointer to Index TSX True Space Extension VENTURE:BM) announced today that it was not able to arrange financing to meet the requirements of the Bureau of Land Management ("BLM BLM n abbr (US) (= Bureau of Land Management) → les domaines ") with respect to posting an additional USD USD In currencies, this is the abbreviation for the U.S. Dollar. Notes: The currency market, also known as the Foreign Exchange market, is the largest financial market in the world, with a daily average volume of over US $1 trillion. $1.1 million in reclamation bonding for the Tonkin Springs property. As a result, its 55% interest in the Tonkin Springs project will revert back to U.S. Gold This article is about a video game company. For other uses, see US Gold (disambiguation). U.S. Gold was a British computer and video game publisher and developer from the early 1980s through the mid-1990s, producing numerous titles on a variety of 8-bit, 16-bit and 32-bit Corporation. BacTech has no further obligations with respect to the property. BacTech continues to own its proprietary bioleaching technology, a 50% stake in a joint venture with Medusa Mining Limited in the Philippines and a back-in right to a 30% stake in any refractory refractory Material that is not deformed or damaged by high temperatures, used to make crucibles, incinerators, insulation, and furnaces, particularly metallurgical furnaces. projects generated by Michelago Limited in China. The management of BacTech continues to be engaged in discussions with interested parties on potential corporate transactions to advance its bioleach technology. CORPORATE PROFILE BacTech has developed and patented bioleach technology for the treatment of refractory ores and concentrates over the past 16 years 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. CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING INFORMATION Except for statements of historical fact relating to relating to relate prep → concernant relating to relate prep → bezüglich +gen, mit Bezug auf +acc the Corporation, certain information contained herein constitutes "forward-looking statements forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. " within the meaning of Section 21E of the United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. Securities Exchange Act of 1934, as amended. Forward-looking statements are frequently characterized by words such as "plan," "expect," "project," "intend," "believe," "anticipate" and other similar words, or statements that certain events or conditions "may" or "will" occur. Forward-looking statements are based on the opinions and estimates of management at the date the statements are made, and are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those projected in the forward-looking statements. These factors include the inherent risks involved in the exploration and development of mineral properties, the uncertainties involved in interpreting drilling results and other ecological data, fluctuating metal prices, the possibility of project cost overruns or unanticipated costs and expenses, uncertainties relating to the availability and costs of financing needed in the future and other factors described in the section entitled "General Development of the Business of the Company - Risks of the Business" in the Corporation's annual information form dated May 17, 2004. Circumstances or management's estimates or opinions could change. The reader is cautioned not to place undue reliance on forward-looking statements. Shares Outstanding: 37,447,412 The TSX Venture Exchange TSX Venture Exchange Originally called the Canadian Venture Exchange (CDNX), this was a result of the merger of the Vancouver and Alberta stock exchanges. The goal of TSX Venture Exchange is to provide venture companies with effective access to capital while protecting investors. has not reviewed and does not accept any responsibility for the adequacy or accuracy of this release. BacTech Mining Corporation (TSX VENTURE:BM) |
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