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Re: News Releases - Wednesday, November 12, 2008
BacTech to Repurchase C$3 Million Debenture with Cash and Shares
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Toronto, Canada, November 12, 2008 - BacTech Mining Corporation
("BacTech" or the "Company", TSX.V: BM) announced today that it has
reached an agreement with the Prudent Global Income Fund ("Prudent
Global") of Dallas, Texas to repurchase its C$3 million principal
amount unsecured five year term 10% Series I Debenture issued to
Prudent Global on March 15, 2004, which was to mature on March 15,
2009. BacTech will pay C$400,000 in cash and issue 3,500,000 million
common shares of BacTech to Prudent Global in full satisfaction of the
outstanding debt obligation. Following the repayment of the debt,
which is expected to occur on or before November 30, 2008, Prudent
Global has agreed to cancel the outstanding debenture and discharge
BacTech from any further debt obligations.

The proposed repurchase transaction is subject to, among other things,
the approval of the TSX Venture Exchange and BacTech obtaining the
necessary financing to satisfy the cash portion of the debt repayment.

Ross Orr, the Company's President & CEO, stated "The repurchase of this
debenture eliminates potentially significant equity dilution to our
existing shareholder base at maturity in 2009, based on our current
stock price. The repurchase also eliminates approximately C$300,000 in
annual interest charges. The cancellation of this debenture will
strengthen the Company's balance sheet and is expected to result in a
profit being recorded for the fourth quarter as a result of a reduction
in the debt owing."