BQE Water Nuvumiut Developments to Operate Water Treatment at Nunavik Nickel

Executive Summary

• BQE Water Inc. and its joint‑venture partner Nuvumiut Development have entered into a three‑year contract with Canadian Royalties Inc. (CRI) to operate mine water treatment plants at the Nunavik Nickel Project.
• The agreement covers seasonal operation of five treatment systems from May through October, expanding BQE’s footprint in Eastern Canada and strengthening its partnership with Inuit communities.
• The deal is expected to generate recurring revenue for BQE Water while supporting environmental stewardship and sustainable water management at CRI’s copper‑nickel operations.

Key Details

• Parties Involved:
• BQE Water Inc. (TSX‑V: BQE) – service provider for mine water treatment.
• Nuvumiut Development Inc. – joint venture partner, owned equally by Qaqqalik Landholding Corp. (Salluit) and Nunaturlik Landholding Corp. (Kangiqsujuaq).

• Canadian Royalties Inc. (CRI) – owner/operator of the Nunavik Nickel Project in Quebec.

• Contract Scope:

• Duration: 3 years.
• Services: Operation of five seasonal mine water treatment systems serving CRI’s open‑pit and underground nickel‑copper mines and concentrator plant.

• Seasonal period: Typically May – October, dependent on water volume requiring treatment.

• Strategic Significance:

• Expands BQE Water’s existing partnership with Inuit communities focused on water stewardship in Nunavik.
• Enhances BQE’s core expertise and market presence in Eastern Canada, particularly Quebec.

• Provides CRI with experienced operators to ensure compliance with environmental standards for copper‑nickel sulphide concentrate production.

• Financial Impact (not disclosed):

• While specific fees or revenue figures were not provided, the multi‑year nature of the agreement suggests a material, recurring revenue stream for BQE Water.

• Quotes:

• Adamie Alaku, President of Nuvumiut Developments Inc.: “Clean water is essential to our communities, and we are very pleased that CRI selected BQE‑Nuvumiut for the role that helps ensure the environment is protected.”

• David Kratochvil, President & CEO of BQE Water: “This new contract expands the scope of our existing partnership with Inuit communities centered around water stewardship in Nunavik and will support the growth and strengthening of BQE's core expertise in mine water treatment operations in Eastern Canada in general and Quebec in particular.”

• Regulatory/Forward‑Looking Statements:

• The release contains customary forward‑looking statements regarding expectations, plans, and risks associated with the agreement.