:: BacTech in Tonkin Springs Joint Venture

Toronto-listed BacTech Enviromet Corp has agreed to acquire a 55% interest in US Gold Corp's Tonkin Springs gold mine in Nevada. BacTech will pay US$1.75 million in cash and fund the first $12 million of expenditure to put the property back into production. The partners plan to begin production using oxide ore, while retrofitting the existing flotation and bioleaching circuits to allow production from the higher grade sulphide material using BacTech's proprietary bioleaching technology. Tonkin Springs has a gold resource of 1.4 million ounces.