REV Closes JMW Claims, Acquires 545 Additional Mining Claims In Chibougamau, Quebec

On November 14, 2025, REV Exploration Corp. announced it has closed the acquisition of 545 additional mining claims in the Chibougamau Camp of Quebec. The consideration for the acquisition was $100,000 in cash and the issuance of 1,000,000 common shares at a deemed price of $0.60 per share. The vendors will retain a 1.0% net smelter return (NSR) royalty, of which REV can repurchase 0.5% for $750,000.

The news release also provided a minor update on its flagship Aden Dome Project (Natural Hydrogen) in Alberta, stating that the company continues to advance technical and geological work to support a planned drill program.

This news is materially positive, albeit with significant caveats. The acquisition substantially increases the company's land position in the active Chibougamau gold camp, building upon the doubling of the JMW property in October and the receipt of drill permits shortly thereafter. This demonstrates that management is executing its stated strategy of consolidating a large, prospective land package ahead of a significant drill campaign.

However, from a critical, risk-averse perspective, the positive impact is tempered by several factors: - Dilution: The issuance of 1,000,000 new shares is dilutive to existing shareholders. - Cost: The transaction depletes the company's treasury by $100,000 at a time when cash is likely very tight (see section on Debt Risk and Capital Needs). - Valuation: While the deal values the shares at $0.60, the market price has since fallen to $0.46, indicating the market is not fully sustaining the recent rally and is waiting for more substantive results. - Exploration Stage: This is an acquisition of unevaluated exploration ground ("moose pasture"). While strategically sound, it adds no tangible value until successful drilling occurs. It is an expense, not a discovery.

The update on the Aden Dome project is non-material fluff, adding no new information. Overall, the news confirms the company's focus and momentum on the JMW gold project, which the market should view as a positive step. However, it also increases the urgency for the company to deliver exploration results and address its near-term capital needs.

REV Exploration Corp., formerly Gitennes Exploration, is a junior exploration company with a dual focus on two distinct sectors: 1. Gold Exploration: The company's primary focus appears to be its 100%-owned JMW and Maxwell gold properties in the prolific Chibougamau Gold Camp in Quebec. The JMW property is considered an advanced prospect with historical drilling and is located on the same geological trend as Iamgold's multi-million-ounce Nelligan deposit. 2. Natural Hydrogen Exploration: REV holds the drill-ready Aden Dome project in Alberta, which it is targeting for Naturally Occurring Hydrogen (NOH) and associated gases like helium. This represents a "first-mover" strategy in Alberta's emerging hydrogen sector.

The company underwent a significant management and strategic shift in early 2025, rebranding and pivoting towards natural hydrogen before recently re-emphasizing its Quebec gold assets.