BioteQ Environmental Technologies Inc.
TSX : BQE

BioteQ Environmental Technologies Inc.

November 21, 2007 08:30 ET

BioteQ Successfully Completes Third Full Season at Raglan

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Nov. 21, 2007) - BioteQ Environmental Technologies Inc. (TSX:BQE), a leader in the treatment of metal and sulphate contaminated water, reported today that its Raglan operation in northern Quebec has successfully completed its third full season of operations, treating a total of 920,000 cubic metres of water, an increase of 12 percent over 2006. The water treatment plant, operated for Xstrata, was placed in its scheduled stand-by mode on November 13 for the duration of the winter. Because Raglan operates in the Arctic, it is a seasonal operation that is shut down when the water source freezes at the site; plant operations are expected to re-start in May 2008 when there is sufficient snow melt to provide water for processing.

BioteQ commenced water treatment at the Raglan site in April of this year, one month earlier than usual. However, a slow melting season caused a depletion in available water to treat during May and part of June. In spite of this delay, BioteQ was able to exceed its budget target of 800,000 cubic metres of water treated because of process improvements to the original design that enabled the company to double the processing flow of the plant. The BioteQ plant has replaced a conventional lime water treatment plant and produces no lime sludge for storage, while recovering 12,500 kilograms of nickel in concentrate for reprocessing by Xstrata. The plant has continued to meet all regulations for water discharged to the environment, achieving less than 0.2 parts per million nickel concentration, less than half the regulatory standard. BioteQ is paid a water processing fee of $1.12 per cubic metre of water processed, plus a monthly capital fee of $31,800. Plant operating costs for labour and consumables met budget expectations.

BioteQ Corporate Profile

BioteQ finances, 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 than can be discharged safely 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

Brad Marchant

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, 2006. Circumstances or management's estimates or opinions could change. The reader is cautioned not to place undue reliance on forward-looking statements.

The Toronto Stock Exchange has not reviewed and does not accept responsibility for the adequacy or the accuracy of this release.

Contact Information

  • BioteQ Environmental Technologies Inc.
    Tanja McQueen
    Investor Relations
    (604) 685-1243 or 1-800-537-3073
    or
    BioteQ Environmental Technologies Inc.
    Caren Holtby
    Investor Relations
    (604) 685-1243 or 1-800-537-3073
    (604) 685-7778 (FAX)
    Email: investor@bioteq.ca
    Website: www.bioteq.ca
    or
    Wolfe Axelrod Weinberger Assoc LLC - In the U.S.
    Adam P. Lowensteiner
    (212) 370-4500
    Email: adam@wolfeaxelrod.com
    or
    Wolfe Axelrod Weinberger Assoc LLC - In the U.S.
    Alisa D. Steinberg
    (Media)
    (212) 370-4500
    (212) 370-4505 (FAX)
    Email: alisa@wolfeaxelrod.com