BGX.CN · 2024-04-04 12:00:00

BGX Initiates Environmental Impact Study at Its Flagship El Carmen Project

Permits & Approvals

BGX INITIATES ENVIRONMENTAL IMPACT STUDY AT ITS FLAGSHIP EL CARMEN PROJECT

VANCOUVER, BC April 4, 2024 – BGX – Black Gold Exploraon Corp. (the " Company " or " BGX ") (CSE: BGX), is

dedicated to unlocking the full potenal of established oil ﬁelds through innovave technological advancements in

exploraon and extracon. BGX is honouring its commitment to environmental responsibility through the iniaon

of a comprehensive Environmental Impact Study (the “ EIS ”) for its El Carmen oil and gas exploraon project (the “El

Carmen Project ”) located in the San Jorge Basin, in Chubut Argenna.

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 producon with nearly 20,000 wells i. While the El Carmen Project is located in

a region with a long history of oil and gas produc on, BGX recognizes the importance of preserving the

environmental integrity of this region while harnessing its energy potenal responsibly.

The EIS will be conducted in accordance with intern aonal and Argennian environmental standards, adhering to

rigorous scienﬁc methodologies and regulatory requ irements. This study aims to assess the potenal

environmental impacts associated with BGX's operaons in the El Carmen Project, including but not limited to:

1. Water quality assessments;

2. Soil tesng and analysis;

3. Biodiversity and habitat preservaon analysis; and

4. Risk migaon strategies.

The iniaon 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 permi<ng for the El Carmen Project and

will develop environmental migaon 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

proacvely address environmental risks and appropriate migaon measures.

"We recognize our responsibility to safeguard the environment in which we operate ," said Francisco Gulisano, the

Chief Execuve Oﬃcer of BGX.

"Through this Environmental Impact Study, we aim to idenfy and address any potenal environmental risk s

associated with our operaons in the San Jorge Basi n, demonstrang our commitment to sustainable prac ces

and stakeholder engagement, " connued Mr. Gulisano.

On behalf of the Company,

Francisco Gulisano

Chief Execuve Oﬃcer

About BGX

BGX – Black Gold Exploraon Corp. (CSE: BGX) is an oil and gas exploraon company dedicated to creang

shareholder value through the acquision, explorao n and development of oil and gas projects. It is c urrently

developing the El Carmen Project located in the San Jorge in the Chubut Province of Argenna with prox imity to

exisng and funconing pipelines in a well-established oil producon area.

Website: hBps://www.bgxcorp.com

Contact: [email protected]

Forward-Looking Statements

The informaon in this news release includes certai n informaon and statements about management’s view of

future events, expectaons, plans, and prospects th at constute forward-looking statements. These statements

are based upon assumpons that are subject to risks and uncertaines. Forward- looking statements in this news

release include, but are not limited to, the Company moving forward immediately with operaons at the El Carmen

Project, the Company using the latest technology. Although the Company believes that the expectaons reﬂected

in forward-looking statements are reasonable, it ca n give no assurances that the expectaons of any fo rward-

looking statement will prove to be correct. Except as required by law, the Company disclaims any inten on and

assumes no obligaon to update or revise any forward-looking statements to reﬂect actual results, whether as a

result of new informaon, future events, changes in assumpons, changes in factors aﬀecng such forward-looking

statements, or otherwise. For a comprehensive overview of all risks that may impact the Company, please see the

Final Long Form Prospectus a copy of which was ﬁled on January 29, 2024 and is available on SEDAR+.

Neither the CSE nor the CSE’s Regulaon Services Provider (as that term is deﬁned in the policies of the CSE) accept

responsibility for the accuracy of this release.

i hBps://www.searchanddiscovery.com/pdfz/documents/2018/70328gaarenstroom/ndx_gaarenstroom.pdf.html

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