Primary Hydrogen Announces Fully Funded and Permitted 2026 Exploration and Maiden Drill Program at Wicheeda North

Primary Hydrogen Corp. (HDRO) announced a fully funded and permitted 2026 exploration and maiden drill program at its Wicheeda North rare earth element (REE) project in British Columbia. The initiative includes soil geochemical sampling and an airborne radiometric survey to refine targets, followed by approximately 1,500 metres of maiden drilling targeted for completion in the fall of 2026.

Drill collars will be selected by integrating soil geochemistry, airborne radiometrics, regional LiDAR, historical geophysics, and 2025 survey results. The Wicheeda North property comprises 2,138 hectares with an option to acquire a 75% interest, located approximately 5 km northwest of Defense Metals Corp.'s Wicheeda REE deposit.

The company holds a five-year Mines Act permit (expiring 2031) authorizing up to 70 drill sites, trenching, and 8 kilometres of exploration access, eliminating the need for further Notice of Work applications through 2030. Funding is secured entirely from previous Critical Mineral flow-through financings closed in June and July 2026, requiring no additional capital raises for this phase.

Primary Hydrogen Corp. (HDRO) announced a routine operational milestone following the successful closing of the LIFE financing and the receipt of a five-year drilling permit. The update confirms management’s execution timeline and validates that the maiden drill program is both permitted and fully funded, removing near-term capital uncertainty.

The announcement introduces no new financial terms, unexpected catalysts, or strategic shifts. The market likely priced in the funding and permitting progress in prior releases. The update is incremental, focusing on sequencing and target refinement ahead of the fall drilling campaign.

Primary Hydrogen Corp. (HDRO) is an early-stage exploration company focused on natural hydrogen and rare earth elements across multiple Canadian and U.S. jurisdictions. Its flagship project is Wicheeda North in British Columbia, a 2,138-hectare property with a 75% earn-in option. Located in the Rocky Mountain Trench, the site sits adjacent to Defense Metals' PFS-stage Wicheeda deposit, which contains 25.5 Mt @ 2.4% TREO. The project benefits from proximity to paved highways, CN Rail, power lines, and a gas pipeline.

The company’s portfolio includes the Hopkins and Blakelock projects in Ontario; Point Rosie and Mary's Harbour in Newfoundland & Labrador; Crooked Amphibolite, Coquihalla, and Cogburn in British Columbia; and the Dove Creek project in Colorado. Exploration follows a four-phase approach targeting target identification, site sampling, geophysical surveying, and expanded site sampling to evaluate hydrogen migration pathways and REE prospectivity.