Element One's Union Bay optionee completes fieldwork

Executive Summary

• Element One Hydrogen and Critical Minerals Corp.'s option partner, Rockshield Opportunities Corp., has completed a 2025 field program at the Union Bay property in Alaska, validating the geological model for platinum group elements (PGE) and natural hydrogen potential.
• The program involved geological mapping and surface sampling of 52 rock samples across dunite, wehrlite, clinopyroxenite, and gabbro units, confirming the presence of ultramafic rocks associated with PGE enrichment and serpentinization processes.
• The Union Bay property is held under an option agreement allowing Rockshield to earn a 100% interest through specific cash payments, exploration expenditures, and share issuances; 200,000 shares have been issued to date.

Key Details

• Field Program Scope: Alaska-based Piton Exploration LLC conducted a two-day helicopter-supported site visit, collecting 52 representative rock samples from mapped ultramafic units (dunite, wehrlite, clinopyroxenite, and gabbro).
• Analytical Results: Samples were analyzed by Bureau Veritas Laboratories for multielement and platinum group element geochemistry with full QA/QC protocols.
• Geological Validation: The sampling confirmed the presence of ultramafic rocks historically associated with PGE enrichment and natural hydrogen potential via serpentinization, validating the geologic model from previous academic work (Van Treeck, 2009).
• Historical High Grades: Previous work on the Union Bay complex returned up to 17.49 grams per tonne (g/t) platinum in surface samples and 10.59 g/t Pt over 0.49 metre in drilling at the North zone.
• Deposit Type: The program re-established geochemical baselines consistent with Alaska-type chromite-PGE deposits, specifically magnetite-bearing wehrlite and clinopyroxenite units.
• Hydrogen Potential: The presence of olivine and pyroxene-rich ultramafic rocks was highlighted as conducive to natural (geologic) hydrogen generation through serpentinization.
• Option Agreement Terms:
  • Target: Rockshield has the option to acquire a 100% interest in the Union Bay property.
  • Cash Payments: Total of $175,000 (U.S.) over two years; $50,000 has been paid.
  • Exploration Expenditures: $1.2 million over three years.
  • Share Issuances: 2.75 million Rockshield common shares in staged tranches over two years; 200,000 common shares have been issued to date.
  • Royalty: Subject to a gross overriding royalty.
  • Compensation: Provisions allow Rockshield to maintain the option in good standing through compensating cash payments in lieu of work expenditures.
• Qualified Person: Jeremy Hanson, PGeo, independent geologist, reviewed and approved the scientific and technical information under NI 43-101.

Notable Quotes

• "Rockshield's work program at Union Bay validates three aspects of Element One's operating model, specifically: Acquiring early-stage critical mineral and stimulated hydrogen projects; Using the company's expertise in exploration and research; and Advancing projects in partnership with other parties." — Brad Kitchen, CEO of Element One.
• "I want to congratulate Rockshield for reaching this milestone in the development of the Union Bay project." — Brad Kitchen, CEO of Element One.