REV Corporate Update

• Date: 2026-05-15
• Headline: REV Corporate Update
• Core Announcement: Company is preparing for upcoming drilling programs targeting Helium and Natural Hydrogen at Montana and southern Alberta properties.
• West Butte Project (Montana): Finalizing a near-term 3D Seismic Survey as a precursor to an initial drill program.
• Aden Dome Project (Alberta/Montana Border): Initial drilling is scheduled to commence in Q3 2026.
• Strategic Asset Holding: REV holds 6 million shares of MAX Power Mining Corp. (CSE: MAXX), valued at approximately $15.6 million based on a closing price of $2.61 per share.
• Market Context: CEO Jordan Potts notes the Helium market has strengthened due to Middle East events and highlights opportunities in America’s Northern Great Plains.

• Confirmation of Execution: The news confirms the drilling timeline previously announced in March 2026 (Q3 commencement). While January 2026 guidance suggested Q1, the shift to Q3 was already communicated in March; this update validates that the project remains on track for the current fiscal year.
• Asset Valuation Highlight: The explicit valuation of the MAX Power Mining stake ($15.6M) is significant relative to REV's market capitalization (~$57.4M). This represents approximately 27% of the company's equity value, providing a substantial asset backing that may not be fully priced into the current share price if investors are focused solely on exploration risk.
• No New Catalysts: The news does not introduce new discoveries, M&A deals, or financing rounds. It is an operational status update confirming existing plans.
• Risk of Delay: The progression from Q1 (Jan) to Q3 (Mar/May) indicates execution delays in the exploration program, which could impact investor sentiment regarding management's ability to meet aggressive timelines.

• Flagship Project (Aden Dome): Located along the Alberta-Montana border. Targeting Natural Hydrogen and Helium within deeper basal Cambrian sandstone and basement complex. Considered drill-ready.
• Secondary Asset (West Butte): Montana property currently in seismic survey phase, preparing for drilling.
• Gold Portfolio: Previously held Chibougamau gold claims (~50,000 ha) were monetized via a swap with Major Gold Corp (MGC) in Feb 2026 to focus capital on Hydrogen/Helium. JMW property remains part of the portfolio but is secondary to the energy transition strategy.
• Geological Focus: Northern Great Plains region, leveraging mature oil and gas infrastructure for clean gas exploration.