Element One Hydrogen advances Twin Sisters magnesium project, Washington State

Element One Hydrogen & Critical Minerals Corp. [CSE: EONE] is advancing its Twin Sisters magnesium opportunity in Washington State following assays of up to 28.46% magnesium. Representative olivine sand samples from the Millbank Materials quarry are now with Revora Materials Inc. in New York for evaluation of potential magnesium, nickel and other mineral recovery.

Eight samples returned 26.39% to 28.46% magnesium and 2,660 to 3,305 parts per million nickel, as announced on September 22, 2026. The tight magnesium range across the initial samples provides a promising basis for recovery testing. Element One’s Memorandum of Understanding with Millbank Materials gives it the right to purchase up to 50,000 tonnes of material annually, with an option to increase that amount to 100,000 tonnes.

The next milestone is to determine how much of the contained minerals can be recovered, the quality of the resulting products and whether the process can support a commercially viable operation.

“The assays confirm that the material we are evaluating is magnesium-rich, and our agreement gives us a potential source of U.S. feedstock at meaningful scale,” said Brad Kitchen, President and CEO of Element One. “Revora’s work is the critical step toward turning that potential into saleable products. If the testing supports our objectives, it can provide the foundation for a pilot program and a new domestic source of magnesium and other valuable minerals.”

Revora will characterize the sand and assess its response to the IonMet™ electrochemical platform, which is designed to generate and recycle chemicals used in mineral extraction. The planned work will examine how minerals are released and separated, measure potential magnesium and nickel recoveries, and evaluate product forms, purity, processing inputs and costs. Element One will also assess whether other components have recoverable value.

The results will guide the scope of further testwork and any future pilot program. Recovery rates, product specifications, processing costs and economic viability have not yet been established, and the Company has made no decision to construct a pilot or commercial facility.

Element One also intends to work with Columbia University to investigate natural hydrogen generation from the same ultramafic material through accelerated serpentinization. That separate research remains at an early stage.

The assays announced on September 22, 2026, reflect limited samples from selected quarry-face and processed-material locations and may not represent all Twin Sisters material. No mineral resource or reserve has been established. The volumes contemplated under the Millbank MOU are potential feedstock access, not a production forecast.

The company proposes to reduce the exercise price of 3,000,000 warrants issued on August 10, 2026 from $0.25 per common share to $0.15 per common share effective as of September 25, 2026. None of the warrants have been exercised as of the date of this news release. The amendments to the warrants described here are subject to CSE acceptance.

Further to its announcement on September 9, 2026 regarding the current LIFE placement, the company had an additional subscription for 200,000 $0.10 units at $0.10 that were not announced. These units will be issued today.

Element One Hydrogen & Critical Minerals Corp., through a growing portfolio of strategic resource assets, proprietary technologies and industry partnerships, is advancing the exploration, development and commercialization of natural hydrogen, magnesium and other critical minerals.

Element One’s projects span British Columbia, Washington State and Alaska and are supported by collaborations with world-class research institutions, including Columbia University, and strategic partnerships with industry, Indigenous communities and government.