BQE Water's Project Update Related to Eagle Gold Mine Water Treatment Services

Executive Summary

• BQE Water has discharged over 1 million m³ of treated water from the Eagle Gold Mine emergency plant and will cease active discharge by November 2025, completing winterization before demobilization on December 15 2025.
• The company was selected by the court‑appointed Receiver to design and implement the first phase of a long‑term water‑treatment solution; the contract was signed on Nov 4 2025 with completion expected mid‑Q1 2026.
• New treatment processes will include ion‑exchange removal of cobalt‑cyanide complexes to trace levels and optional electro‑reduction of selenium, with phased expansion aligned to the 2026 spring freshet.

Key Details

• Emergency Treatment Performance: Over 1 million cubic meters of clean water safely discharged under contract with PwC (Receiver for Victoria Gold Corp.).
• Discharge Cease & Winterization: Active discharge to stop in November 2025; winterization plan to be completed before demobilization by 15 Dec 2025.
• Long‑Term Treatment Contract: Proposal accepted; contract executed 4 Nov 2025 for first engineering phase, slated to finish mid‑Q1 2026.
• First Phase Scope: Engineering design of a permanent treatment plant incorporating multiple new processes; includes pilot‑tested ion‑exchange for cobalt‑cyanide removal and optional selenium electro‑reduction.
• Process Details:
• Ion‑exchange system targets trace‑level cobalt‑cyanide complexes.
• Direct electro‑reduction technology ready for deployment if selenium levels require treatment.
• Implementation Timeline:
• Restart of water treatment anticipated prior to the 2026 spring freshet.
• Gradual addition of treatment stages (cobalt‑cyanide, nitrogen species, selenium) as needed.
• Operational Team: Includes operators from a Na‑Cho Nyäk Dun‑owned business, prepared for 2026 restart.

Notable Quotes

“Expedient implementation of emergency treatment and safe discharge of over 1 million cubic meters of clean water from Eagle into the environment is one of the success stories of the project,” – David Kratochvil, President & CEO, BQE Water.
“We are also very pleased that our proposal for long‑term treatment was selected to provide definitive costs for implementation of the permanent long‑term treatment at Eagle, supporting both further stabilization and remediation work at site.” – David Kratochvil.