BGX - Black Gold Exploration Corp. dedicated to unlocking the full potential of established oil fields through innovative technological advancements in exploration and extraction. BGX is honoring its commitment to environmental responsibility through the initiation of a comprehensive Environmental Impact Study (the EIS) for its El Carmen oil and gas exploration project (the El Carmen Project) located in the San Jorge Basin, in Chubut Argentina.

The El Carmen Project, located in the San Jorge Basin a region renowned for its rich oil resources, with over 4 billion barrels of historical and current oil production with nearly 20,000 wells. While the El Carmen Project is located in a region with a long history of oil and gas production, BGX recognizes the importance of preserving the environmental integrity of this region while harnessing its energy potential responsibly. The EIS will be conducted in accordance with international and Argentinian environmental standards, adhering to rigorous scientific methodologies and regulatory requirements.

This study aims to assess the potential environmental impacts associated with BGX's operations in the El Carmen Project, including but not limited to: Water quality assessments; Soil testing and analysis; Biodiversity and habitat preservation analysis; and Risk mitigation strategies. The initiation of the EIS marks a significant milestone for the Company as it kicks off the first steps towards unlocking the value of the El Carmen Project. The EIS supports the development and permitting for the El Carmen Project and will develop environmental mitigation measures to be implemented throughout the development of the El Carmen Project.

The EIS will be an important component of stakeholder engagement as with its stakeholders as it will proactively address environmental risks and appropriate mitigation measures.