Makenita Resources signs option for Cobequid-Chedabucto hydrogen project, Nova Scotia

Makenita Resources Inc. [CSE: KENY; OTC: KENYF; WKN: A40X6P] has entered into an option agreement with an arm’s-length vendor to acquire the district-sized 45,967-acre Cobequid-Chedabucto hydrogen project in Nova Scotia.

The project consists of 1,149 claim units for 45,967 acres prospective for hydrogen. Management cautions that past results or discoveries on properties near Makenita’s may not necessarily indicate mineralization on the company’s property.

Jason Gigliotti, president of Makenita Resources, stated: “This is a tremendous opportunity to acquire a district-size project prospective for hydrogen. Nova Scotia has emerged as one of the hotbeds for hydrogen exploration recently, attracting such large players as Koloma, whom this new project directly borders, and Rio Tinto. QIMC, which also directly borders this new project, has had positive results for hydrogen this year.

“When you couple this district-sized hydrogen project with Makenita’s 102,110-contiguous-acre Serpentinization iron-magnetite project in Saskatchewan bordering Max Power Mining Corp. and our newly expanded 22,665 contiguous acres directly bordering Northcliff Resources Ltd.’s (NCF) Sisson tungsten mine, it is clear we are building our asset base and plan to be extremely active in the near and medium term. When you factor in our tight share structure with a steady news flow, management is very optimistic about the remainder of 2026.”

Under the terms of the option agreement and in consideration for the interest, the parties have agreed to the following: To pay $11,490, issue three million common shares in the capital of the company and issue 2.25 million transferable share purchase warrants exercisable at a price of 30 cents per share for a period of three years from the issuance date to the vendor, within seven business days on signing the option agreement; to issue 500,000 common shares in the capital of the company and issue 375,000 transferable share purchase warrants exercisable at a price of 30 cents per share for a period of three years from the issuance date to the vendor within four months of signing the option agreement and to issue 500,000 common shares in the capital of the company and issue 375,000 transferable share purchase warrants exercisable at a price of 30 cents per share for a period of three years from the issuance date to the vendor within eight months of signing the option agreement.

Makenita must complete a minimum of $150,000 in work expenditures within the first year of signing the option agreement. The option agreement is subject to all regulatory approvals. All shares and warrants issued will have a standard hold period of four months plus one day.

Makenita currently has several district-sized land projects located in Canada, including the newly acquired 45,967-acre Cobequid-Chedabucto hydrogen project in Nova Scotia, directly bordering Koloma and Quebec Innovative Materials Corp., as well as the 102,110-contiguous-acre Serpentinization iron-magnetite project in Saskatchewan bordering Max Power Mining.

Makenita also has the 22,665-contiguous-acre Sisson West tungsten project, prospective for tungsten in New Brunswick, directly bordering Northcliff Resources’ Sisson tungsten mine. The company also holds the approximately 9,000-acre NTX rare earth project in Quebec, prospective for rare earths, and the 5,542-acre Hector project near Cobalt, Ontario, prospective for cobalt, silver and diamonds.