BioteQ Commences Water Treatment Operations at Raglan and Expands Commercial Contract With Xstrata Nickel
VANCOUVER, BRITISH COLUMBIA–(Marketwire – June 24, 2008) – BioteQ Environmental Technologies Inc. (TSX:BQE), a leader in the treatment of metal and sulphate wastewater, announced that it has commenced water treatment operations for the 2008 season at its Raglan plant, located in northern Quebec at Xstrata Nickel’s Raglan Mine. In addition, BioteQ has been contracted by Xstrata Nickel to assume operating responsibility for the Spoon water treatment plant, a lime based plant also located at the Raglan Mine, on a fee basis. BioteQ and Xstrata are also exploring fee-based alternatives for future expansion of water treatment services at the Raglan site.
This will be the plant’s fourth year of operation at the Raglan Mine site owned by Xstrata Nickel. Xstrata is strongly committed to good environmental management practices, and has chosen to work with BioteQ to apply innovative water treatment technologies which produce clean water to meet stringent water quality criteria. The plant is owned and operated by BioteQ, using the Company’s unique ChemSulphide(R) process, and is ISO 14001 certified for environmental compliance. Plant operations for 2008 are anticipated to be similar to 2007.
BioteQ has been contracted by Xstrata Nickel to assume operating responsibility for the Spoon water treatment plant which was built and commissioned by a third party last year. BioteQ will provide operating staff and consumables on a cost-plus fee basis. The contract is subject to renewal after one year. Concurrently, BioteQ will be investigating the use of a novel ion exchange technology, developed in-house, in conjunction with the existing ChemSulphide(R) technology, for potential longer term use at the Raglan site to meet future water treatment needs. BioteQ will conduct a pilot study at the site on a fixed fee basis.
BioteQ Corporate Profile
BioteQ builds, owns and operates water treatment plants for the world’s mining companies and utility operators, reducing environmental liabilities while generating revenue from waste. The Company’s commercially proven technology treats acid mine drainage and other metal-laden waste water by sequentially removing metals and sulphate, producing saleable metal products and clean water that can be discharged to the environment. BioteQ is headquartered in Vancouver, Canada, and trades on the TSX under the symbol BQE. For additional information, go to www.bioteq.ca.
On behalf of the Board of Directors
CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING INFORMATION
Except for statements of historical fact relating to the Company, certain information contained herein constitutes “forward-looking statements” within the meaning of Section 21E of the United States Securities Exchange Act of 1934, as amended. Forward-looking statements are frequently characterized by words such as “plan,”"expect,”"project,”"intend,”"believe,”"anticipate” and other similar words, or statements that certain events or conditions “might” or “will” occur. 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 and uncertainties and other factors that could cause actual events or results to differ materially from those projected in the forward-looking statements. These factors include the inherent risks involved in the development, construction and operation of water treatment plants, variations in water quality, fluctuating metal prices, the possibility of project cost overruns or unanticipated costs and expenses, uncertainties relating to the availability and costs of financing needed in the future and other factors described in the section entitled “Risks” in the Company’s Annual Report for the Year Ended December 31, 2007. Circumstances or management’s estimates or opinions could change. The reader is cautioned not to place undue reliance on forward-looking statements.
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