BacTech Environmental Corporation announced its bioleaching project interests in Peru will advance, focusing on gold and copper concentrates and potential metal recovery efforts. Having developed relationships with a number of artisanal miners and processors throughout the Trujillo area, BacTech has made arrangements to collect seven 15kg concentrate samples during the next two-to-three months from selected producers and processors. Global mining executive and technical advisor Oscar A. Alvarado Sr. will continue on as project lead.

When ready, the samples will be shipped to ALS Laboratories facilities in Perth, Australia and subjected to bioleach testing under the guidance of Dr. Paul Miller. BacTech has no ownership in any of the mines where concentrates are being sourced. Similar to the model in place for the Company's commercial interests in Ecuador, BacTech has been meeting with producers who are looking to maximize returns for their concentrates, knowing that a safe and profitable processing solution to treat high arsenic concentrates in the Trujillo area is being considered.

BacTech believes a bio-oxidation plant would support local economic development with the benefit of knowing that the processing of toxic materials would be dealt with in a sustainable manner. Miners across South America have been affected by an October 1, 2021 Chinese government- directed import tax of 13% placed on arsenic gold concentrates coming into the country for processing. This action has resulted in price slashing scenarios in which the miners are paid approximately 50% of the gold value delivered.

Penalties escalate further with contained arsenic levels above the 10% level. In one illustrative meeting, BacTech was shown material from three different areas of a single mine ­ each selectively mined in an effort to produce lower arsenic values for Chinese buyers. All sample materials contained copper, gold and silver as recoverable metals, yet prices being paid all fell considerably short of BacTech's Fair Market Value estimates: Sample 1 - FMV /$750 per ton; Price Realized /$270 per ton; Sample 2 - FMV /$650 per ton; Price Realized /$200 per ton; Sample 3 - FMV /$500 per ton; Price Realized /$80 per ton.

Important to note, BacTech has previous experience working with chalcopyrite having collaborated with Industrias Penoles, S.A.B. (Q: IPOAF) on a bioleaching R&D project at its research park in Monterrey, Mexico a number of years ago. At the time, Penoles committed $5 million to build a demonstration plant to investigate the use of bioleaching on dirty chalcopyrite copper concentrates. Copper recovery using bioleaching /solvent extraction /electrowinning technology was used to produce 99.99% pure copper plate.