Record Resources' Hydrogen Neighbour Delivers Outstanding Drilling Results

Calgary, Alberta--(Newsfile Corp. - January 23, 2025) - Record Resources Inc. (TSXV: REC) is strongly impressed and highly encouraged by the drilling results of its Lake Temiskaming neighbour, Quebec Innovate Materials Corporation (QIMC) (see QIMC news release, January 21, 2025).

"From what we've seen, these are some of the best grades of any early-stage hydrogen exploration project," said Michael Judson, Record Resources CEO. "Other explorers have reported 500 and 700 ppm measurements. QIMC hit 7000 ppm. This is another level."

"QIMC also made history. They are the first exploration company to drill shallow wells targeting natural hydrogen," said Judson. "Everyone else has been doing soil samples. This drilling provides us with much more compelling data and more confidence regarding the geological occurrence."

One shallow well drilled by QIMC reached a measurement 7,119 parts per million, plateauing at 2,886 ppm. Five other measurements included one of over 2,400 ppm, one of over 1,000 ppm and one of over 900 ppm." The results were recorded with wells drilled to shallow depths of up to 50 metres. The drilling locations in new fault zones inferred from electrical tomography imagery performed by the Institut National de la Recherche Scientifique during fall 2024.

"This achievement, despite the challenging very cold winter conditions, underscores the robustness of our geological and geophysical models, validating our geophysical identification of potentially advective fault zones as key areas for abundant natural hydrogen," stated John Karagiannidis, chief executive officer of Quebec Innovative," said John Karagiannidis, QIMC CEO, in a January 21, 2025 news release.

Record's newly acquired Lorrain-Bucke hydrogen property (see company's January 14, 2025 news release) is contiguous with the QIMC on its western boundary in Lake Temiskaming in Ontario.

Record's Lorrain-Bucke claim blocks are strategically located between major rift faults in the Lake Temiskaming Graben structure and directly adjacent to QIMC's St-Bruno-de-Guigues hydrogen project. (See figure 1).

Record also corrects the date of expiration reported for the finder's warrants referenced in the company's December 30, 2024 news release regarding the closing of the company's 436,999.95 Private Placement. The correct exercise period is 24 months following the closing of the Offering, as follows: the company paid finders' fees and issued finders' shares and finders' warrants to EMD Financial Inc. consisting of: (i) cash finders' fees of 8 per cent of the gross proceeds of the offering; (ii) finders' shares in an amount equal of 4 per cent of the number of units issued pursuant to the offering; and (iii) finders' warrants in an amount equal of 4 per cent of the number of units issued pursuant to the offering, exercisable at a price of five cents per common share for a period of 24 months following the closing of the offering.

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.

Cautionary StatementsThis news release contains "forward-looking information" and "forward-looking statements" (collectively, "forward-looking statements") within the meaning of the applicable Canadian securities legislation. All statements, other than statements of historical fact, are forward-looking statements and are based on expectations, estimates and projections as at the date of this news release. Any statement that involves discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions, future events or performance (often but not always using phrases such as "expects", or "does not expect", "is expected", "anticipates" or "does not anticipate", "plans", "budget", "scheduled", "forecasts", "estimates", "believes", an or "intends" or variations of such words and phrases or stating that certain actions, events or results "may" or "could", "would" , "might" or "will" be taken to occur or be achieved) are not statements of historical fact and may be forward-looking statements. In this news release, forward-looking statements relate, among other things, to: approval of the Private Placement and obtaining a full revocation order. This forward-looking information reflects the Company's current beliefs and is based on information currently available to the Company and on assumptions the Company believes are reasonable. These assumptions include, but are not limited to: the market acceptance of the Private Placement; the ability of the Company to obtain a full revocation order and the receipt of all required approvals in connection with the foregoing. Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of the Company to be materially different from those expressed or implied by such forward-looking information. Such risks and other factors may include, but are not limited to: general business, economic, competitive, political and social uncertainties; general capital market conditions and market price for securities; and the delay or failure to receive board, shareholder, court or regulatory approvals. Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. Readers are cautioned that the foregoing list of factors is not exhaustive. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on the forward-looking statements and information contained in this news release. Except as required by law the Company does not assume any obligation to update the forward-looking statements of beliefs, opinions, projections, or other factors, should they change.

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Figure 1. Record Resources claims in yellow

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