TORONTO, CANADA--(Marketwire - Oct. 9, 2012) - BacTech Environmental Corporation ("BacTech" or the "Company") (CNSX:BAC)(OTC:BCCEF)(WKN:A1H4TY) today provided an update on the progress of its Snow Lake, Manitoba arsenic concentrate stockpile remediation project.
Over the balance of 2012, the Company will begin and/or complete the following as it moves toward construction in the Spring of 2013:
- Finalize proposed site purchase agreement with the Town of Snow Lake
- Immediate site drilling and soil sampling at the proposed site location in Snow Lake, followed by the completion of the Geotechnical Report (P. Machibroda Engineering Ltd.). This report is required to complete the civil engineering excavation and slab design for local tender.
- Engagement of Golder Associates Ltd. for the Closure Plan which is required for the final approval of the Environmental Permitting
- Prepare bid packages for the short listed engineering companies to complete the Front End Engineering and Design ("FEED")
- Submission of the Environmental Assessment Proposal ("EAP") documentation to Manitoba government for approval
The proceeds of the recently closed financing will be used to address the above mentioned action plan.
BacTech Environmental Corporation holds the perpetual, exclusive, royalty-free rights to use the patented BACOX bioleaching technology for the reclamation of tailings and mining waste materials. In December 2011, BacTech signed a contract with the Mines Branch of the Manitoba Department of Innovation, Energy and Mines, to remediate an arsenopyrite gold stockpile situated at the Snow Lake Mine in Snow Lake, Manitoba. The Company continues to field enquiries globally with respect to additional opportunities for remediation.
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Special Note Regarding Forward-Looking Statements
This news release contains "forward-looking information", which may include, but is not limited to, statements with respect to the future capital investments, transactions projects or operations of the Company and its projects. Often, but not always, forward-looking statements can be identified by the use of words such as "plans", "expects", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates", or believes" or variations (including negative variations) of such words and phrases, or state that certain actions, events or results "may", "could", "would", "might" or "will" be taken, occur or be achieved.
Forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. Forward-looking statements contained herein are made as of the date of this news release and the Company disclaims, other than as required by law, any obligation to update any forward-looking statements whether as a result of new information, results, future events, circumstances, or if management's estimates or opinions should change, or otherwise. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, the reader is cautioned not to place undue reliance on forward-looking statements.
Shares outstanding 48,755,027
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