Mr. Brad Kitchen reports

ELEMENT ONE REPORTS ON FIELD PROGRAM AT UNION BAY

A 2025 field program by Element One Hydrogen and Critical Minerals Corp.'s option partner Rockshield Opportunities Corp. has been completed, and the option partner has an option to earn a 100-per-cent interest in the Union Bay property by completing certain exploration expenditures, cash payments and share issues.

Fieldwork summary

Alaska-based Piton Exploration LLC was commissioned to carry out geological mapping and surface sampling across the Union Bay property, part of a mafic-ultramafic intrusive complex approximately 50 kilometres northeast of Ketchikan. The program confirmed key ultramafic rock types associated with platinum group element mineralization and natural hydrogen potential, providing a strong technical foundation for follow-up exploration in 2026.

A two-person field crew conducted a two-day helicopter-supported site visit, collecting 52 representative rock samples from mapped dunite, wehrlite, clinopyroxenite and gabbro units. The samples were analyzed by Bureau Veritas Laboratories for multielement and platinum group element geochemistry, with full quality assurance/quality control protocols, including standards, blanks and field duplicates.

The sampling confirmed the mapped presence of ultramafic rocks historically associated with PGE enrichment and hydrogen-producing serpentinization processes. These findings validate the geologic model previously outlined in academic and historical work (Van Treeck, 2009) and provide an important step toward developing dual exploration pathways for critical minerals and geologic hydrogen.

Brad Kitchen, chief executive officer of Element One, stated: "Rockshield's work program at Union Bay validates three aspects of Element One's operating model, specifically:

• "Acquiring early-stage critical mineral and stimulated hydrogen projects;
• "Using the company's expertise in exploration and research; and
• "Advancing projects in partnership with other parties.

"I want to congratulate Rockshield for reaching this milestone in the development of the Union Bay project."

Geologic context and results

The Union Bay complex is a concentrically zoned ultramafic intrusion with a dunite core surrounded by wehrlite, clinopyroxenite, hornblendite and gabbro. The property includes 11 documented PGE prospects, with previous work returning up to 17.49 grams per tonne platinum in surface samples and 10.59 g/t Pt over 0.49 metre in drilling at the North zone.

Piton's 2025 program re-established geochemical baselines for these mineralized horizons and confirmed magnetite-bearing wehrlite and clinopyroxenite units consistent with Alaska-type chromite-PGE deposits.

In addition to critical mineral potential, the team highlighted the presence of olivine and pyroxene-rich ultramafic rocks conducive to natural (geologic) hydrogen generation through serpentinization -- a reaction between these minerals and water that releases hydrogen gas. This observation aligns with Element One's exploration focus on geologic hydrogen systems in ultramafic settings across North America.

Union Bay option agreement details

As previously disclosed, the Union Bay property is held under an option agreement between Element One and Rockshield, granting Rockshield the right to acquire a 100-per-cent interest, subject to a gross overriding royalty.

Key terms include:

• Cash payments: $175,000 (U.S.) total over two years ($50,000 paid);
• Exploration expenditures: $1.2-million over three years;
• Share issuances: 2.75 million Rockshield common shares in staged tranches over two years (200,000 common shares issued).

These commitments are optional, with provisions allowing Rockshield to maintain the option in good standing through compensating cash payments in lieu of work expenditures.

Qualified person

The scientific and technical information on this news release has been reviewed and approved by Jeremy Hanson, PGeo, an independent geologist to the company who is a qualified person under the meaning of National Instrument NI 43-101.

About Element One Hydrogen and Critical Minerals Corp.

Element One is a Canadian company focused on the exploration, development and commercialization of geologic hydrogen and critical mineral resources, as well as breakthrough hydrogen generation technologies. The company's projects include the Foggy Mountain critical mineral project as well as projects in Alaska and British Columbia that are prospective for hydrogen production through stimulation in the subsurface as well as critical and battery metals.

We seek Safe Harbor.