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Re:   News Releases - Wednesday, July 23, 2008
      Bactech Announces Note Financing
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Toronto, Canada, July 23, 2008 - BacTech Mining Corporation ("BacTech"
or the "Company", TSX-V: BM) today announced that it will raise, via
private placement, up to $750,000 in a 2 year, convertible, retractable
note unit. Given the depressed nature of the mining equity markets, the
Company felt that it would be prudent to issue a less dilutive
instrument today rather than issue common shares and warrants at this
level. The private placement is subject to requisite regulatory
approval, including the approval of the TSX Venture Exchange (the
"Exchange").

The underlying conversion price has been set at $0.10. BacTech will
have the option to repay the note within 4 months (the "retraction").
If BacTech wishes to exercise its retraction right, the holder of the
note will have the right to convert up to 20% of the note into common
shares. After 4 months, the holder of the note will have the conversion
option. The note holder will also be granted three warrants for each
dollar invested. Each warrant will entitle the holder to acquire one
additional common share, at a price of $0.15 for a period of two years.
The interest rate on the note will be 1.5% per month, which shall be
paid semi-annually, with the first 6 month's interest payments being
placed into escrow.

In connection with the private placement, and subject to approval by
the Exchange, a finder's fee of 5% may be paid to certain arm's length
parties.

The rationale behind the note placement at this time is as follows.

-To raise money via a common share unit at today's prices would mean
the issuance of up to 7.5 million common shares and a like amount of
warrants (15 million shares fully-diluted)

-The issuance of the note, should it be retracted within four months,
would result in the potential issuance of up to 1.5 million common
shares and up to 2.25 million warrants (3.75M shares fully-diluted).

-The four month time period allows the Company to close additional
transactions (which would additionally be subject to requisite
regulatory approval, including without limitation, the approval of the
Exchange) to add more value to the Company and thus the price of the
Company's common shares. A future financing, hopefully at a higher
common share price, can be conducted in a market that might be more
receptive to purchasing resource-based equities.

-The ability to raise capital in the summer months is inhibited by the
reduced level of activity in the stock markets.

Part of the proceeds of the note will be used to produce an NI 43-101
compliant resource statement for assets recently acquired from Yamana
Gold Inc. ("Yamana") in Papua New Guinea ("PNG"), as announced on June
18, 2008.  The transfer of title of the PNG assets from Yamana is
subject to requisite regulatory approval including, without limitation,
the approval of the Exchange, as well as PNG governmental approval.

It is likely that BacTech will require shareholder approval to complete
the acquisition as, according to the rules of the Exchange, the
acquisition is a reviewable transaction.  It is expected that the
approval of shareholders will be sought in respect of such transaction
and that this will be procured by the Corporation by written
shareholder approval and the filing of a filing statement in accordance
with the rules of the Exchange. It is expected that final PNG
government approval will be obtained by September 2008.

BACTECH PROFILE

BacTech has developed and patented bacterial oxidation technology for
the treatment of refractory ores and concentrates 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 Pe�oles de
C.V. of Mexico that was completed in 2001.  The Company's focus is the
acquisition of equity positions in projects amenable to bioleaching.
The Company recently signed an agreement to acquire Yamana Gold Inc.'s
33% interest in 2 refractory gold deposits in Papua New Guinea.

CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING INFORMATION

Except for statements of historical fact relating to the Company,
certain information contained herein constitutes "forward-looking
statements".  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 "Risks" in the Company's Management Discussion and Analysis
for the Year Ended December 31, 2007.  Circumstances or management's
estimates or opinions could change.  The reader is cautioned not to
place undue reliance on forward-looking statements.

- 30 -

For further information contact:

Ross Orr, President & CEO, 416-813-0303 ext 222

Investor Relations:
Pierre Anglos 1-800-436-2027 Email: capitalgainsco@shaw.ca

Shares outstanding 60,107,206

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

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Copyright (c) 2008 BACTECH MINING CORPORATION (BM)  All rights
reserved.  For more information visit our website at
http://www.bactech.com/ or send mailto:info@bactech.com
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