Calgary, Alberta--(Newsfile Corp. - January 14, 2025) - Record Resources Inc. (TSXV: REC) is pleased to announce it has entered into an option agreement to acquire a key property in the Temiskaming hydrogen camp, directly adjacent to Quebec Innovative Materials Corporation (QIMC)'s significant hydrogen discovery. This strategic acquisition positions Record as a prominent player in hydrogen exploration within Ontario's rapidly expanding renewable hydrogen sector.
The Lorrain-Bucke claim blocks acquired by Record are underlain by Huronian Group sedimentary and volcanic formations that unconformably overlie Archean metavolcanic and metasedimentary units of the Superior Province rocks. The Huronian Supergoup, in turn, is overlain by a thick succession of Ordovician limestone, dolostone and lesser amount of interbedded sandstone and local conglomerate. This is a geological setup associated with significant natural hydrogen resource potential.
These blocks are strategically located, between major rift faults in the Lake Temiskaming Graben structure, a tectonic feature recognized for its potential to host deep mantle-derived volatile-rich sources, including hydrogen. (See figure 1).
Furthermore, the claims' potential is further enhanced by the presence of ultramafic rocks exposed on the northern and eastern portions of the Rift basin in neighboring Quebec. These units exhibit a distinctive magnetic response that extends into Ontario, which suggests the presence of basement ultramafic rocks at the base of the Rift basin. The information is not necessarily indicative of the mineralization on the property.
Additionally, a prominent gravity low coincides with a large granitic intrusion mapped in the western Lorrain Township (see QIMC press release December 5, 2024). This gravity low anomaly is shown to extend westward into Lake Temiskaming and potentially marks the location of thick Paleozoic cover, which is a positive indication for deeper natural hydrogen resource potential.
This option and collaborative venture also strengthens Record's strategic relationship with QIMC, a leader in hydrogen exploration. QIMC will join Record as a partner, bringing its advanced methodologies and expertise to the relationship. This positions both companies to capitalize on the region's unique geological features and accelerate hydrogen exploration and extraction in the Temiskaming hydrogen camp.
Record Resources, as the optionee will issue an aggregate of 9,000,000 common shares to a group of arm's length optionors, namely Gravel Ridge Resources Ltd., 1544230 Ontario Inc., 0761585 BC Ltd. and QIMC and make a cash payment of $90,000 payable in four instalments over a four-year period from closing (the "Option Agreement"). The optionee can close on the acquisition at any time by paying to the optionor the balance of the cash payments due. A 2% Gross Revenue Royalty (GRR) shall be granted from the sale of hydrogen or any other mineral product from the property. The optionor will own half of the two percent royalty and the other half will be owned by the other vendors. Record may purchase from the optionor, at its sole option, 50% of the GRR at any time for $2,000,000. The option agreement was signed on December 12, 2025. No finders fees were paid. The Option Agreement remains subject to the approval of the TSX Venture Exchange.
John Karagiannidis, CEO and Director of QIMC, stated: "We are thrilled to expand our partnership with Record Resources and contribute our proven hydrogen exploration methodologies and know-how to the Temiskaming hydrogen camp. This collaboration, alongside our recent agreement with DMED's extraction technology, underscores our shared commitment to unlocking the full potential of natural hydrogen resources. Together, we are laying the groundwork for Ontario to emerge alongside Quebec as cornerstones of the Canadian and North American hydrogen economy."
Michael Judson, CEO of Record Resources, added: "The option to acquire a key property is a transformative step for Record as we solidify our presence in the Temiskaming hydrogen camp. Our strengthened relationship with QIMC brings invaluable expertise and innovation to our operations. Together, we are committed to advancing hydrogen exploration and contributing to a sustainable energy future."
Please visit the company's website at www.recordgoldcorp.com for detailed location and geophysical maps related to the Lorrain-Bucke Property.
About Record Resources Inc. Record Resources (TSXV: REC) is a Canadian exploration company. The company is focused on acquiring and developing its hydrogen and gold exploration properties. Record Resources is operated by a highly experienced and well connected management team which has access to extraordinary exploration opportunities and technical expertise. The company is also backed by an accomplished group of capital markets professionals.
Qualified Person: Edward Procyshyn, P.Geo, a qualified person in accordance with National Instrument 43-101, has reviewed and approved the technical information contained in this news release.
For more information please contact: Michael C. Judson, Chairman & CEO Record Resources Inc. T. +1-514-865-5496
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