TORONTO, CANADA — (Marketwired) — 04/04/13 — BacTech Environmental Corporation (“BacTech” or the “Company”)(CNSX: BAC)(OTC: BCCEF) (WKN: A1H4TY) today announced that it has received a Development Authorization for its application to divert and use water from Snow Lake for industrial purposes.
The Water Use Licensing Section of Manitoba Conservation and Water Stewardship has granted BacTech the rights to construct a pipeline from Snow Lake to the bioleach plant site for use in its operations. BacTech will be responsible for negotiating all legal rights, by ownership, lease rental or other agreement, for the proposed pipeline route.
The authorization allows BacTech to proceed with construction of the proposed water diversion and to operate it until the expiry of the date of the permit, March 31, 2014. At that time, a license can be issued for a longer period of time if the Licensing Section has confirmed that BacTech has complied with the conditions of the Development Authorization.
BacTech also reports that it is making progress in arranging a suitable financing for the proposed bioleach plant.
“It–s a tough market for capital raising. Developments such as this approval help push the project forward as we move toward financing and construction,” said Ross Orr, President and CEO of BacTech.
BacTech profile
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 Residue Stockpile (“ARS”) situated at the Snow Lake Mine in Snow Lake, Manitoba, to eliminate further leaching of arsenic generated within the ARS into the surrounding watershed. The Company continues to field enquiries globally with respect to additional opportunities for remediation.
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Contacts:
BacTech Environmental Corporation
Ross Orr
President & CEO
416-813-0303 ext 222
BacTech Environmental Corporation
Bill Mitoulas
Investor Relations
416-479-9547