BacTech Environmental Corporation announced and publicly release updated executive summary results of its 3rd party produced Bankable Feasibility Study for the staged development of its 100% owner-operated bioleaching facility in Ponce Enriquez, Ecuador. BFS economics have been updated to reflect improved optimization works allowing an increased throughput and improved average gold head grade. The latest estimates are reflected in the data that follows: Updated Key Economic Highlights: Pre-tax NPV (Net Present Value with 5% discount rate) of $60.7 million (up 29.4% from $46.9 million); Pre-tax IRR (Internal Rate of Return) of 57.9% (up from 48%); Annual Gold Production of 30, 900 ounces (up 19% from 25,900 ounces); Capital Cost of $17 million (increased from $15.5 million); 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 - $10.9 million (up from $8.94 million) Estimated local employee bonus pool - $1.64 million Payback (75% DEBT) - 2 years.

Additional Project Economics & Parameters: Plant Design Capacity - 18,250 tonnes of dry concentrate p/annum (from 15,030 tonnes); Plant Life - 20 years; Average Gold Recovery Bioleaching - 96%; Annual Gold Production (55 gpt average feed) - 30,900 ounces; All-in Opex - $212 per tonne; Upfront Capital - $17M (increase from $15.5M with tank upgrades to stainless steel) Base Case Gold Price - $1600 per ounce; Estimated Start of Production - First Quarter 2023; Payback from Start of Production - 2.5 years.