Current Water Technologies Corporate Update

Current Water Technologies Inc. (TSX-V: WATR) ("CWTI" or "the Company" or "the Corporation") is a global leader in the development of novel electrochemical technology for the treatment of ammonia in the municipal and industrial waste water sectors and in the development of an international Green Hydrogen production network. CWTI is pleased to provide our shareholders and supporters with the following corporate update.

Testing Activities

Since our October 18, 2023 Corporate Update, CWTI has focused it energy on introducing its innovative AmmEL-H2 waste water treatement technology to domestic and international municipal, military and the following industrial sectors: agriculture, oil & gas, fertilizer, biogas, and mining.

The proven AmmEl-H2 System is uniquely designed to extract the intrinsic value of waste waters containing problematic levels of ammonium compounds. In addition to eliminating the release of nitrogen compounds, known to have significant negative impacts on aquatic ecosystems and climate change, this unique approach generates multiple high value revenue streams. CWTI envisages playing an important role in establishing a network of highly profitable, technology advanced waste water treatment facilities.

During the first half of 2024, CWTI completed very successful in-house pilot scale studies for two Canadian clients, and anticipates future discussions of the report findings and possible next steps.

New in-house pilot scale testing projects will commence this month with multi-national industrial clients with operations in North America. Please note that during the past year, CWTI entered into Non-Disclosure agreements with several clients. Consequently, without the client’s written consent, CWTI is restricted from releasing client names and related confidential information at this time.During the same time period, CWTI was engaged in discussions with several entities in North America, Europe and Australia, which have led to the submission of proposals for in-house and on-site testing programs. A busy second half of 2024 is anticipated.

About Current Water Technologies Inc.

Current Water Technologies is a “Technology Company” applying its patented and proprietary “Electrochemical Technologies” to the treatment of waste water, desalination water and drinking water contaminated by metals or nutrients, i.e., nitrate/ammonia associated with the mining, metal processing, chemical, agricultural, municipal and waste management sectors. Pumptronics Incorporated operates as a division of the Company and continue to function as an integrated pump station manufacturer specializing in custom design and automation.The common shares trade on Tier ll of the TSX Venture Exchange under the symbol “WATR”.

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

FOR FURTHER INFORMATION PLEASE CONTACT:

Dr. Gene S. Shelp, Ph.D., P.Geo.President and CEO

Tel: [phone]Fax: [phone]E-mail: [e-mail] Site: www.currentwatertechnologies.com

Forward Looking Statements

This news release contains forward-looking statements within the meaning of the “safe harbour” provisions of the Private Securities Litigation Reform Act of 1995. These forward-looking statements are subject to risks and uncertainties and other factors that may cause Current Water Technologies Inc. results to differ materially from expectations. These include risks relating to market fluctuations, property performance and other risks. These forward-looking statements speak only as of the date hereof. Certain statements contained in this press release and in certain documents incorporated by reference into this press release constitute forward-looking statements. The use of any of the words "anticipate", "continue", "estimate", "expect", "may", "will", "project", "should", "believe" and "confident" and similar expressions are intended to identify forward-looking statements. These statements involve known and unknown risks, uncertainties and other factors that may cause actual results or events to differ materially from those anticipated in such forward-looking statements. Current Water believes that the expectations reflected in those forward-looking statements are reasonable but no assurance can be given that these expectations will prove to be correct and such forward-looking statements included in, or incorporated by reference into, this press release should not be unduly relied upon. These statements speak only as of the date of this press release. Current Water undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.