BM BC Moly Ltd

BacTech Mining Corporation ("BacTech" or the "Company") (TSX VENTURE: BM) today announced that it has scheduled a special meeting of shareholders of BacTech to be held on October 28, 2010, to consider and, if thought fit, approve a divisive reorganization by way of a Plan of Arrangement. The record date for shareholders entitled to receive notice of the meeting is September 27, 2010.

As previously announced, the Company is proposing to grant to a subsidiary ("BacTech Environmental") an exclusive, perpetual, royalty-free licence to use BacTech's proprietary bioleaching technology for reclamation of historic mine tailings. The Company will also assign to BacTech Environmental all of the Company's rights and interest in existing and proposed tailings remediation projects. The Company will retain the primary rights to the bioleaching technology, as well as all of the Company's existing mining assets.

Under the proposed Plan of Arrangement, BacTech shareholders will receive, in exchange for each existing common share of the Company, one new common share of the Company (which will be renamed REBgold Corporation) and one-fifth of a common share of BacTech Environmental.

Completion of the proposed reorganization is subject to receipt of all required consents and approvals, including without limitation, court approval, shareholder approval, and TSX Venture Exchange approval.

The Company also announces that it will conduct a proposed private placement of units of the Company for gross proceeds of up to $430,000 (the "Offering"). Each unit will be comprised of a $10,000 unsecured convertible debenture, maturing on the date that is 12 months following the closing of the Offering (the "Maturity Date"), and 100,000 warrants. Each warrant shall entitle the holder to acquire one common share of the Company at an exercise price of $0.12 until the Maturity Date.

The convertible debentures may be converted by the holders at any time at a price of $0.10 per common share (the "Conversion Price"). In the event that the closing price of the Company's common shares on the TSXV is at or greater than $0.15, the Company shall have the right, in its sole discretion, to redeem the convertible debentures through the issuance of common shares at the Conversion Price. The interest rate on the convertible debentures will be 1.5% per month, which shall be paid semi-annually. The private placement is subject to requisite regulatory approval, including the approval of the TSX Venture Exchange. Certain of the debentures are being issued to replace previous debentures that have since matured. The remainder of the proceeds will be used for ongoing project evaluation and working capital.

BACTECH PROFILE

BacTech owns patented bacterial oxidation technology for the treatment of refractory ores and concentrates to enhance the recovery of gold, silver and base metals. The Company's initial focus is the acquisition of equity positions in projects amenable to bioleaching.

Shares outstanding 132,943,039

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Contacts: BacTech Mining Corporation Ross Orr President & CEO 416-813-0303 ext 222 info@bactech.com