BQE Water Reaches Milestone in Clean-up Efforts at Eagle Gold Mine

VANCOUVER, BC, July 30, 2025 /CNW/ - BQE Water Inc. (TSXV: BQE), a leader in the treatment and management of mine impacted waters is pleased to announce that, under the contract with PricewaterhouseCoopers Inc.  in its capacity as court appointed Receiver of Victoria Gold Corp. (the "Receiver") for emergency treatment at Eagle Gold Mine, it has discharged over 600,000m³ of treated water into the environment.

The BQE team developed and implemented an emergency response treatment that has treated multiple water sources over the course of the project including cyanide heap leach solution contained on site following the heap failure, contact water reporting to leach solution storage ponds during the spring snow melt, and contaminated groundwater pumped from interception wells. Effluent water quality has been continuously monitored using Key Performance Indicators (KPIs) developed by BQE's team using analytical tools available on site. Effluent quality is further verified by third party accredited laboratories performing daily testing for toxicity and comprehensive chemical analysis on 24-hour composite samples from the end of pipe.

With the contract extended until October 31, 2025, BQE Water will continue to be responsible for water treatment operations on site. As the drain-down of solution from the heap leach facility is expected to be substantially complete and the remaining inventory of contaminated water stored at Eagle continues to decrease, the operation of the emergency response system is anticipated to come to an end by the end of Q3 2025. Further, as part of the scope of work, BQE Water will prepare a decommissioning plan to wind down the emergency response treatment and a winterization plan for all water treatment infrastructure that will remain on site over the winter. Subject to the Receiver's approval, BQE Water will then implement these plans prior to demobilizing from site.

Jani Djokic, the CEO of the Na-Cho Nyäk Dun Development Corporation (NNDDC), commented, "The heap leach failure at Eagle has had significant impact on the First Nation of Na-Cho Nyäk Dun (FNNND) lands and waters, including the fish, animals, and people who rely on those waters. BQE's expertise and responsiveness has been very valuable in avoiding even greater impacts - efforts which have included the participation of FNNND businesses and Citizens directly in the operations of the emergency treatment system, as well as a Cooperation Agreement with NNDDC."

David Kratochvil, the President and CEO of BQE Water, stated, "Implementing the emergency response treatment system quickly with off-the-shelf pieces of equipment installed in the extreme cold weather and arriving at a continuous and consistent production of non-toxic effluent was very challenging. I am tremendously proud of our team including engineers, operators, aquatic toxicologists, and support staff: all working quickly, under a lot of pressure, and keeping all stakeholders and regulatory authorities up to date on all developments. The project success is a true showcase of BQE Water's abilities."

About BQE Water's Work at Eagle Gold Mine Since September 2024
BQE Water was contracted by PricewaterhouseCoopers Inc. (PwC), in its capacity as court appointed receiver of Victoria Gold, as water treatment consultants and operations specialists to assist with the emergency response at the Eagle Gold Mine situated on the Traditional Territory of the First Nation Na-Cho Nyäk Dun (FNNND) in central Yukon, which experienced a failure in its cyanide heap leach facility. As a result of the failure and the pre-existing water treatment plant unable to treat cyanide leach solution to produce non-toxic effluent, an emergency solution had to be developed and implemented quickly. Working collaboratively with the technical advisors to the Yukon Government, the FNNND, PwC, and past Victoria Gold employees, the BQE Water team developed and implemented a treatment process combining existing plant equipment with off-the-shelf rental equipment and newly constructed ponds. Engineering design, lab testing, procurement, operations, and toxicological data analysis had to be carried out simultaneously to ensure safe and timely discharge of treated water into the environment.

About BQE Water
BQE Water is a service provider specializing in water treatment and management for metals mining, smelting and refining. We are helping to transform the way the industry thinks about water in the context of natural resource projects by offering services and expertise which enables more sustainable water management practices and improved overall project performance at reduced risks. BQE Water invests in innovation and has developed unique intellectual property through the commercialization of several new technologies at mine sites around the world for organizations including Glencore, Jiangxi Copper, Freeport-McMoRan and the US EPA. BQE Water is headquartered in Vancouver, Canada and trades on the TSX Venture Exchange under the symbol BQE. Visit www.bqewater.com for more information.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING INFORMATION
Certain information contained herein may not be based on historical fact and therefore constitutes "forward-looking information" under applicable Canadian securities legislation. This includes without limitation statements containing the words "plan", "expect", "project", "estimate", "intend", "believe", "anticipate", "may", "will" and other similar words or expressions. Forward-looking statements are based on the opinions and estimates of management at the date the statements are made, and are subject to a variety of risks, uncertainties and other factors that may cause actual events or results to differ materially from those expressed or implied by such forward-looking statements. Factors that could cause or contribute to such differences include, but are not limited to, the Company's dependence on key personnel and contracts, uncertainty with respect to the profitability of the Company's technologies, competition, technology risk, the Company's ability to protect its intellectual property and proprietary information, fluctuations in commodity prices, currency risk, environmental regulation and the Company's ability to manage growth and other factors described in the Company's filings with the Canadian securities regulators at www.sedarplus.ca (including without limitation the factors described in the section entitled "Risks and Uncertainties" in the Company's MD&A for the year ended December 31, 2024). Given these risks and uncertainties, the reader is cautioned not to place undue reliance on forward-looking statements. All forward-looking information contained herein is based on management's current expectations and the Company undertakes no obligation to revise or update such forward-looking information to reflect subsequent events or circumstances, except as required by law.

SOURCE BQE Water Inc.

For further information please contact: BQE Water Inc., Suite 200 - 30 East 6th Avenue, Vancouver, BC Canada V5T 1J4, 604 685 1243; David Kratochvil, President & CEO, [email protected]; Heman Wong, CFO, [email protected]; Peter Gleeson, Executive Chairman, [email protected]