Element One Reports on Magnesium Opportunity

The June 1, 2026 news release marks the second operational milestone following the May 5 Memorandum of Understanding (MOU) with Twin Sisters Olivine, Ltd. Management conducted a site visit to the Washington State quarry to evaluate infrastructure and potential locations for a demonstration-scale processing facility. Representative olivine samples were collected from the active quarry face and stockpiles, then submitted to Bureau Veritas for ICP-ES analytical testing to confirm magnesium, nickel, and iron content. The visit reinforces the company's strategic pivot toward securing a domestic U.S. feedstock source for critical minerals and natural hydrogen, addressing a noted lack of primary magnesium production in the country.

This update is a direct execution step on the previously announced May 5 MOU, transitioning the project from planning to the sampling and metallurgical testing phase. The news is incremental and expected, confirming that management is actively pursuing the supply agreement and facility sublease. While the strategic thesis around domestic magnesium and nickel supply chains is sound, the release does not introduce new catalysts, pricing terms, or definitive agreements. Consequently, it lacks the surprise or material financial impact required to shift the rating beyond routine.

Element One Hydrogen and Critical Minerals Corp. is an exploration-stage company focused on geologic (natural) hydrogen production and critical mineral extraction from ultramafic and olivine-bearing rocks. The company's strategy revolves around two synergistic pathways: natural hydrogen generation via serpentinization or engineered stimulation, and the co-production of magnesium, nickel, cobalt, and PGEs. Flagship assets include the HY and Shulaps Projects in British Columbia, the Union Bay Property in Alaska, the Foggy Mountain project, and the newly advanced Twin Sisters platform in Washington State targeting domestic magnesium supply.