Mr. Ben Asuncion reports

PRIMARY HYDROGEN ANNOUNCES LOI WITH RESPECT TO ARTHUR LAKE PROPERTY

Primary Hydrogen Corp. has entered into a non-binding letter of intent dated July 3, 2025, with J4 Ventures Inc., a TSX Venture Exchange capital pool company, in respect of a proposed transaction pursuant to which J4 shall acquire the Arthur Lake property from Primary Hydrogen.

The letter of intent contemplates that the company and J4 will enter into a definitive agreement, pursuant to which J4 will acquire a 100-per-cent interest in the Arthur Lake property by making the following payments on closing of the proposed transaction: (i) issuing Primary Hydrogen 500,000 common shares in the capital of J4; and (ii) making a $50,000 cash payment to Primary Hydrogen. Primary Hydrogen will also retain a 2-per-cent net smelter return royalty on the Arthur Lake property.

It is anticipated that the proposed transaction will be structured as an asset purchase transaction or other structure based on the advice of the parties' respective advisers and taking into account various securities, tax, operating and other considerations.

Completion of the proposed transaction is conditional upon, among other standard conditions for a transaction of this nature, including, among other things: (i) the negotiation, execution and delivery of the definitive agreement; (ii) the completion of a National Instrument 43-101-compliant technical report in respect of the Arthur Lake property that is acceptable to the TSX-V and J4; (iii) the receipt of all required consents and approvals for the proposed transaction and the definitive agreement; (iv) the completion of satisfactory due diligence by each party of the other party; (v) the completion by J4 of a concurrent financing; and (vi) TSX-V acceptance. There can be no assurance that all the necessary regulatory approvals will be obtained or that all conditions of closing will be met.

The proposed transaction is an arm's-length transaction, and there are no finders' fees or commissions payable in respect of the proposed transaction.

About Primary Hydrogen Corp.

Primary Hydrogen is dedicated to the exploration and development of natural hydrogen resources. With over 740 acres in the United States and 230 square kilometres across Canada, the company's portfolio includes the Blakelock, Hopkins, Mary's Harbour, Point Rosie, Crooked Amphibolite, Coquihalla and Cogburn projects. Primary also holds the Arthur Lake copper project in British Columbia and has an option to acquire a 75-per-cent interest in a hydrogen/rare-earth-element project known as Wicheeda North, also located in British Columbia.

We seek Safe Harbor.