BQE Water resumes work at Eagle gold mine

Executive Summary

• BQE Water Inc. has signed a contract with PricewaterhouseCoopers Inc. (as court-appointed receiver of Victoria Gold Corp.) to resume water treatment operations at the Eagle Gold Mine in the first half of 2026.
• The scope of services mirrors 2025 operations, focusing on managing contaminated water volume during and after the 2026 spring freshet using the treatment system installed in 2024.
• This engagement follows BQE's successful emergency response to the 2024 heap leach failure, which involved treating over one million cubic meters of water, and precedes the delivery of engineering design for a new long-term water treatment system in Q1 2026.

Key Details

• Contract Counterparties: BQE Water Inc. is the service provider; PricewaterhouseCoopers Inc. is the contracting party in its capacity as court-appointed receiver of Victoria Gold Corp.
• Partnerships: Services will be delivered in partnership with Na-Cho Nyak Dun Development Corp. (NNDDC) and Big River Operations (BRO), a First Nation-owned business.
• Operational Scope: Management of contaminated water volume during and immediately following the 2026 spring freshet.
• Infrastructure: Utilization of the treatment system installed in 2024 and operated in 2025.
• Performance Metrics: Effluent water quality will be continuously monitored using Key Performance Indicators (KPIs) developed and successfully implemented in 2025.
• Historical Context (2024-2025):
  • BQE was contracted in September 2024 as emergency water treatment consultants following a cyanide heap leach facility failure.
  • The team implemented an emergency solution combining existing plant equipment, rental equipment, and newly constructed ponds.
  • Successfully discharged more than one million cubic meters of treated water into the environment.
  • Reduced inventory of contaminated water to safe levels before freeze-up.
• Future Engineering: BQE was selected in November 2025 to complete the first phase of engineering for a new long-term water treatment system.
• Timeline:
  • Q1 2026: Expected delivery of the engineering design for the new long-term system.
  • First Half 2026: Resumption of water treatment operations.

Notable Quotes

• Franklin Patterson, Owner of Big River Operations: "The 2024 heap leach failure directly impacted our land, waters and community. It is important that FNNND citizen-owned businesses play a meaningful role in restoring and protecting water quality on our traditional territory. BRO remains committed to advancing mine water treatment expertise and long-term environmental stewardship within our nation. We value our collaboration with BQE Water and look forward to contributing to a successful 2026 treatment season."
• David Kratochvil, President and CEO of BQE Water: "The successful restart and operations of the treatment system that BQE winterized at the end of 2025 is only an intermediate step, but an important one, to enable the site to transition to a long-term solution in an orderly fashion. Importantly, it will allow BQE to advance the training of BRO personnel and deepen the collaboration between BQE, BRO and NNDDC aimed at building the expertise and capacity within the FNNND to manage and treat water from Eagle and other mining projects on the FNNND's territory."