York Harbour acquires hydrogen exploration assets

Executive Summary

• York Harbour Metals Inc. has entered into a mineral property purchase agreement to acquire a portfolio of hydrogen exploration assets in Ontario and Quebec from 1502757 B.C. Ltd.
• The acquisition positions the company in the emerging "white hydrogen" exploration sector, adding over 36,000 hectares of land across three strategic projects.
• The transaction consideration consists of $100,000 in cash and 800,000 common shares, with closing subject to customary conditions and regulatory approvals.

Key Details

• Assets Acquired: A portfolio of three hydrogen projects totaling over 36,000 hectares:
  • Kirwan Hydrogen (Quebec): 1,463 hectares, 100% owned, road-accessible, adjacent to Quebec Innovative Materials Corp.'s flagship hydrogen discovery.
  • Casa Hydrogen (Quebec): 5,851 hectares, option to earn 100% interest; hosts multiple "fairy circles" indicative of natural hydrogen.
  • Hearst East & West (Ontario): Approximately 29,000 hectares, 100% owned, adjacent to Maxx Energy's hydrogen projects, featuring widespread fairy circles.
• Transaction Consideration:
  • Cash: $100,000 paid to the seller.
  • Equity: Issuance of 800,000 common shares to the seller at a deemed price of $0.085 per share.
  • Hold Period: The issued shares are subject to a statutory four-month-and-one-day hold period from the date of issuance.
  • Royalty: The Shannon H2 claims are subject to an underlying 1.5% net smelter returns (NSR) royalty.
• Casa Project Option Terms: The company acquires the right to purchase the Casa project by paying $86,000 to the original vendors, subject to the terms of the existing option agreement. Prior to exercise, the company holds exclusive rights to conduct mining operations on the Casa project.
• Related Party Transaction: Blair Naughty, President and CEO of York Harbour Metals, is also a director and officer of the seller (1502757 B.C. Ltd.).
• Closing Conditions: Closing is subject to receiving necessary consents/approvals and satisfaction of customary conditions; expected to close in the coming weeks.
• Technical Review: Technical information reviewed by Alex Bugden, PGeo, a Qualified Person under NI 43-101. Disclaimer noted that adjacent property information is not indicative of mineralization on the acquired portfolio.

Notable Quotes

• "This acquisition provides York Harbour shareholders with exposure to an exciting new frontier in resource exploration. Natural hydrogen is being recognized as a critical clean energy commodity, with potential to rival lithium in its importance to the global energy transition. Our projects are strategically located next to some of the most active hydrogen explorers in Canada, giving us immediate relevance in this emerging sector." — Blair Naughty, President and CEO