Ecuador Update on Permitting Process
President of Ecuador Signs Pre-Legislative Consultation Decree:
Confirming the Start of the Final Stage of BacTech Environmental
License Pursuit
TORONTO, ON, Dec. 1 , 2022 – BacTech Environmental Corporation (CSE: BAC, OTC:
BCCEF, FSE: 0BT1) (“ BacTech” or the “Company”), a commercially proven environmental
technology company delivering eco -friendly bioleaching and remediation solutions for precious
metal and critical mineral recovery, is pleased to announce that the President of Ecuador has signed
the eagerly anticipated pre-legislative consultation decree on November 28, 2022 ("Decree"). This
Decree will guide the formal comment for BacTech’s final community “environmental
consultation” phase in order to secure its Environmental License. For BacTech, this Decree builds
on the ESIA Technical approval granted by the Government of Ecuador in October 2022 and the
Investment Protection A greement signed with the Government of Ecuador in April 2022 (see
October 3, 2022 and May 2, 2022 BacTech news releases).
Upon completion of the comment process for the Regulation, which is expected shortly, the
President of Ecuador is expected to enact the Regulation through Presidential Decree. From there,
the Company expect two rounds of community consultations led by the Government of Ecuador.
These community consultations are expected to be similar to the many community consultations
led by BacTech since initiating plans to build a new owner -operated bi oleaching facility in
Tenguel, Ecuador.
According to the Ecuadorian Government's current guidelines, after this pre -legislative
consultation process, the Government will have a robust environmental consultation in accordance
with the jurisprudential standards that govern the social participation process and guarantee the
right of communities to active participation, which is the final component of the Environmental
License.
About the Tenguel – Ponce Enriquez Bioleaching Project
BacTech is planning to build a new owner-operated bioleaching facility in Tenguel, Ecuador, in a
region where arsenic is associated with gold ore (Arsenopyrite). The Company’s plan is to build a
50 tpd bioleach plant capable of treating high gold/arsenic material. A 50 tpd plant, processing
feed of 1.75 ounces of gold per tonne, similar to feeds available to the Company from local miners,
would produce approximately 31,000 ounces per year. Plant designs are modular and can be
expanded without affecting ongoing production. The total concentrate market in the Ponce
Enriquez area is estimated to be between 200 and 250 tonnes per day, allowing for increa sed
throughput potential with a larger plant.
Key economic highlights, assuming a base gold price @ $1,600 per ounce:
• Pre-tax NPV (Net Present Value with 5% discount rate) of $60.7M
• Pre-tax IRR (Internal Rate of Return) of 57.9%
• Annual Gold Production of 30, 900 ounces
• Capital Cost of $17M
• Bioleach Operating Cost of $212 per tonne
• Assumed Purchase Prices of Concentrate – 65% of the contained gold value
• Pre-tax Earnings Prior to Employee Bonus – $10.9M annually
• Estimated local employee bonus pool – $1.64M
In total, there are over 90 small mines operating in the area. BacTech continues to investigate the
prospects of establishing additional modern bioleaching facilities across other areas of Ecuador,
Peru, and Colombia. Where possible, the Company will partner with national and local
governments, non-governmental organizations (NGOs) and others to assist with the funding of
these projects and ensure that they meet the Company’s high expectations not only for
environmental standards, but also for the highest standards in all ESG considerations.
About BacTech Environmental Corporation
BacTech is a proven environmental technology company, delivering effective and eco -friendly
bioleaching and remediation solutions to commercial operations to process and recover preferred
metals (gold, silver, cobalt, nickel and copper) smartly and safely remove and transform harmful
contaminants like arsenic into benign EPA-approved products for landfill. Tapping into numerous
environmental and economic advantages of its proprietary method of bioleaching, BacTech uses
naturally occurring bacteria, harmless to both humans and the environment, to neutralize toxic
mining sites with high -pay potential. BacTech is publicly traded on the CSE under the symbol
“BAC”; on the OTCQB as “BCCEF”; and the Frankfurt Stock Exchange as “0BT1”.
For further information contact:
Ross Orr
President & CEO, BacTech Environmental Corporation
416-813-0303 ext. 222,
Email: [email protected]
Website: https://bactechgreen.com/
Investor Presentation: https://bactechgreen.com/investors/
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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 future tailings sites, sampling or other investigations of tailing sites, the Company’s ability to make use of
infrastructure around tailings sites or operating performance of the Company and its projects. Often, but not always,
forward-looking statements can be identified using words such as “plans”, “expects”, “is expected”, “budget”,
“scheduled”, “estimates”, “forecasts”, “intend s”, “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 for ward-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 because 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 mater ially from those anticipated in such statements. Accordingly, the reader is cautioned
not to place undue reliance on forward-looking statements.
Shares outstanding: 173,358,891
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accuracy of the contents of this release.
This press release does not constitute an offer to sell or a solicitation of an offer to buy any of the shares, nor is it a
solicitation of interest from a prospective investor.