Record Acquires Option on Key Temiskaming Hydrogen Property and Strengthens Strategic Collaboration with QIMC

Calgary, Alberta--(Newsfile Corp. - January 14, 2025) - Record Resources Inc. (TSXV: REC) is pleased to announce it has entered into an option agreement to acquire a key property in the Temiskaming hydrogen camp, directly adjacent to Quebec Innovative Materials Corporation (QIMC)'s significant hydrogen discovery. This strategic acquisition positions Record as a prominent player in hydrogen exploration within Ontario's rapidly expanding renewable hydrogen sector.

The Lorrain-Bucke claim blocks acquired by Record are underlain by Huronian Group sedimentary and volcanic formations that unconformably overlie Archean metavolcanic and metasedimentary units of the Superior Province rocks. The Huronian Supergoup, in turn, is overlain by a thick succession of Ordovician limestone, dolostone and lesser amount of interbedded sandstone and local conglomerate. This is a geological setup associated with significant natural hydrogen resource potential.

These blocks are strategically located, between major rift faults in the Lake Temiskaming Graben structure, a tectonic feature recognized for its potential to host deep mantle-derived volatile-rich sources, including hydrogen. (See figure 1).

Furthermore, the claims' potential is further enhanced by the presence of ultramafic rocks exposed on the northern and eastern portions of the Rift basin in neighboring Quebec. These units exhibit a distinctive magnetic response that extends into Ontario, which suggests the presence of basement ultramafic rocks at the base of the Rift basin. The information is not necessarily indicative of the mineralization on the property.

Additionally, a prominent gravity low coincides with a large granitic intrusion mapped in the western Lorrain Township (see QIMC press release December 5, 2024). This gravity low anomaly is shown to extend westward into Lake Temiskaming and potentially marks the location of thick Paleozoic cover, which is a positive indication for deeper natural hydrogen resource potential.

This option and collaborative venture also strengthens Record's strategic relationship with QIMC, a leader in hydrogen exploration. QIMC will join Record as a partner, bringing its advanced methodologies and expertise to the relationship. This positions both companies to capitalize on the region's unique geological features and accelerate hydrogen exploration and extraction in the Temiskaming hydrogen camp.

Record Resources, as the optionee will issue an aggregate of 9,000,000 common shares to a group of arm's length optionors, namely Gravel Ridge Resources Ltd., 1544230 Ontario Inc., 0761585 BC Ltd. and QIMC and make a cash payment of $90,000 payable in four instalments over a four-year period from closing (the "Option Agreement"). The optionee can close on the acquisition at any time by paying to the optionor the balance of the cash payments due. A 2% Gross Revenue Royalty (GRR) shall be granted from the sale of hydrogen or any other mineral product from the property. The optionor will own half of the two percent royalty and the other half will be owned by the other vendors. Record may purchase from the optionor, at its sole option, 50% of the GRR at any time for $2,000,000. The option agreement was signed on December 12, 2025. No finders fees were paid. The Option Agreement remains subject to the approval of the TSX Venture Exchange.

John Karagiannidis, CEO and Director of QIMC, stated: "We are thrilled to expand our partnership with Record Resources and contribute our proven hydrogen exploration methodologies and know-how to the Temiskaming hydrogen camp. This collaboration, alongside our recent agreement with DMED's extraction technology, underscores our shared commitment to unlocking the full potential of natural hydrogen resources. Together, we are laying the groundwork for Ontario to emerge alongside Quebec as cornerstones of the Canadian and North American hydrogen economy."

Michael Judson, CEO of Record Resources, added: "The option to acquire a key property is a transformative step for Record as we solidify our presence in the Temiskaming hydrogen camp. Our strengthened relationship with QIMC brings invaluable expertise and innovation to our operations. Together, we are committed to advancing hydrogen exploration and contributing to a sustainable energy future."

Please visit the company's website at www.recordgoldcorp.com for detailed location and geophysical maps related to the Lorrain-Bucke Property.

About Record Resources Inc.
Record Resources (TSXV: REC) is a Canadian exploration company. The company is focused on acquiring and developing its hydrogen and gold exploration properties. Record Resources is operated by a highly experienced and well connected management team which has access to extraordinary exploration opportunities and technical expertise. The company is also backed by an accomplished group of capital markets professionals.

Qualified Person:
Edward Procyshyn, P.Geo, a qualified person in accordance with National Instrument 43-101, has reviewed and approved the technical information contained in this news release.

Website: www.recordgoldcorp.com

Cautionary Statements
This news release contains "forward-looking information" and "forward-looking statements" (collectively, "forward-looking statements") within the meaning of the applicable Canadian securities legislation. All statements, other than statements of historical fact, are forward-looking statements and are based on expectations, estimates and projections as at the date of this news release. Any statement that involves discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions, future events or performance (often but not always using phrases such as "expects", or "does not expect", "is expected", "anticipates" or "does not anticipate", "plans", "budget", "scheduled", "forecasts", "estimates", "believes", an or "intends" or variations of such words and phrases or stating that certain actions, events or results "may" or "could", "would" , "might" or "will" be taken to occur or be achieved) are not statements of historical fact and may be forward-looking statements. In this news release, forward-looking statements relate, among other things, to: approval of the Private Placement and obtaining a full revocation order. This forward-looking information reflects the Company's current beliefs and is based on information currently available to the Company and on assumptions the Company believes are reasonable. These assumptions include, but are not limited to: the market acceptance of the Private Placement; the ability of the Company to obtain a full revocation order and the receipt of all required approvals in connection with the foregoing. Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of the Company to be materially different from those expressed or implied by such forward-looking information. Such risks and other factors may include, but are not limited to: general business, economic, competitive, political and social uncertainties; general capital market conditions and market price for securities; and the delay or failure to receive board, shareholder, court or regulatory approvals. Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. Readers are cautioned that the foregoing list of factors is not exhaustive. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on the forward-looking statements and information contained in this news release. Except as required by law the Company does not assume any obligation to update the forward-looking statements of beliefs, opinions, projections, or other factors, should they change.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

The Units and the securities comprising the Units have not been and will not be registered under the United States Securities Act of 1933, as amended and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirement. This news release shall not constitute an offer to sell or the solicitation of an offer to buy any securities nor shall there be any sale of securities in the Unites States, or any other jurisdiction, in which such offer, solicitation or sale would be unlawful. Not for distribution to U.S. Newswire Services or for dissemination in the United States. Any failure to comply with this restriction may constitute a violation of U.S. Securities laws.

Figure 1. Record Resources claims in yellow

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/1769/237137_f93b9a21a480b867_001full.jpg

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/237137