Mr. Dave Jackson reports

PRIMARY HYDROGEN COMMENCES 1,500-METRE MAIDEN DRILL PROGRAM AT WICHEEDA NORTH TARGETING NORTHWEST-TRENDING RARE EARTH SOIL ANOMALY

Drilling has commenced at Primary Hydrogen Corp.'s Wicheeda North rare earth element project in British Columbia, the first drilling undertaken in the property's history. The approximately 1,500-metre program is targeting a northwest-trending rare earth element anomaly outlined by the company's 2026 soil sampling, which, together with the recently completed airborne radiometric survey flown in September, 2026, was used to refine the target area and to orient the drill holes.

Highlights:

• Drilling under way -- approximately 1,500 metres in about seven holes, expected to be completed within the coming weeks;
• Phase 1 soils -- 11 of 439 samples (2.5 per cent) returned more than 300 parts per million total rare earth elements plus yttrium (TRE+Y), to a maximum of 484.69 ppm, along a northwest-southeast trend;
• Phase 2 soils -- 37 of 692 samples (5.3 per cent) returned more than 300 ppm TRE+Y, including a single sample of 932.21 ppm in the eastern grid; the next highest was 459.9 ppm;
• Southwestern area -- the southwestern grid returned 24 of the 37 phase 2 samples above 300 ppm, and the company is evaluating it as a potential target area for drill testing in a subsequent program.

"We chose to have the ground surveyed from the air, sampled at surface and permitted before we put a drill on it," said David Jackson, chief executive officer of Primary Hydrogen. "That took two field seasons, two airborne surveys and three rounds of soil sampling, and it gave us a northwest trend to drill across. These are the first holes in the property's history, and we expect to finish within about four weeks."

2026 fall drill program

Radius Drilling Corp. of Prince George, B.C., has commenced drilling at Wicheeda North, with the program expected to be completed within the coming weeks. The program comprises approximately 1,500 metres of diamond drilling in about seven holes of roughly 300 metres each, from seven proposed drill pad locations. The holes are oriented to the northeast, across the northwest-trending soil anomaly; hole locations and orientations may change as the program proceeds. The diamond drill program is being completed under the supervision of Tripoint Geological Services Ltd., with samples to be submitted to ALS Canada Ltd. in North Vancouver, B.C., for assaying. Results will be reported once assays have been received and interpreted.

2026 summer exploration program

Up to this point in 2026, the company has collected 1,131 soil samples in two phases. Soil sampling measures the amount of each element in the soil above the bedrock. Where rare earth elements are higher in the soil, the rock beneath may also contain them, which helps decide where to drill. Soil results point to drill targets; they are not a measure of grade in rock. Results are reported as TRE+Y (total rare earth elements plus yttrium), the sum of 15 elements in parts per million: TRE+Y equals La (lanthanum) plus Ce (cerium) plus Pr (praseodymium) plus Nd (neodymium) plus Sm (samarium) plus Eu (europium) plus Gd (gadolinium) plus Tb (terbium) plus Dy (dysprosium) plus Ho (holmium) plus Er (erbium) plus Tm (thulium) plus Yb (ytterbium) plus Lu (lutetium) plus Y (yttrium).

The phase 1 program comprised of 439 soil samples over a grid in the north-central portion of the property, designed to build on the soil anomalies identified by the company in 2025. TRE+Y values ranged from 130.9 ppm to 484.69 ppm, with a median of 225.6 ppm; eleven samples (2.5 per cent) exceed 300 ppm and one exceeds 400 ppm. Gridded, the results outline a linear northwest-southeast trend of elevated TRE+Y across the grid. The far northwestern portion of the planned grid was not sampled owing to access.

The phase 2 program comprised 692 soil samples over three grids in the eastern, central and southwestern portions of the property, designed to extend the phase 1 grid and connect with the company's 2025 soil grids. TRE+Y values range from 104.4 ppm to 932.21 ppm, with a median of 218.1 ppm; 37 samples (5.3 per cent) exceed 300 ppm, four exceed 400 ppm and one exceeds 500 ppm. The highest value, 932.21 ppm, is a single sample in the eastern grid with the next highest being 459.9 ppm. The southwestern grid returned the highest median of the 2026 grids, 241.9 ppm, and 24 of the 37 phase 2 samples were above 300 ppm, including two above 400 ppm. The company is evaluating the southwestern grid as a potential target area for drill testing in a subsequent program.

Additionally, an airborne geophysical survey recording radiometric, magnetic and VLF (very-low-frequency) electromagnetic data was completed over the property, totalling 745 line kilometres at 50-metre line spacing over a 33.6-square-kilometre block that includes ground beyond the property. The radiometric survey measures natural gamma radiation from potassium, uranium and thorium; thorium can accompany rare earth elements in carbonatite rocks, so elevated thorium at surface can help narrow drill targets.

Based on the results of the 2026 summer exploration program, the company interprets the northwest-trending soil anomaly as a target for carbonatite-hosted rare earth element mineralization buried beneath glacial cover. This is the same style of mineralization found at the Wicheeda deposit held by Defense Metals Corp., in which the company has no interest, approximately five kilometres to the southeast. The interpretation is supported by the soil results, which outline a linear trend of higher rare earth values across the phase 1 grid, and by the soil chemistry itself: rare earth values in the soil rise with thorium, an element that can accompany rare earth elements in carbonatites and that the airborne survey was designed to detect. The current drill program is the first test of this interpretation.

The soil results accompanied by radiometric anomalies provide strong targets but are not conclusive, and the company has not ruled out other explanations. Rare earth values in the soil also rise with elements typically found in clay-rich material, so the trend could reflect a rare earth-enriched layer within the host phyllite rather than a buried carbonatite. It could reflect soil moved by glaciers along the Rocky Mountain trench, in which case its source may lie some distance from the anomaly, or a fault with no associated mineralization. Samples from wet ground ran about 15 to 20 per cent higher than samples from dry ground, so part of the pattern may also reflect element mobilization by water moving through the soil. No carbonatite has been observed in outcrop on the property. Further review of the soil and airborne data, together with the drill results, is intended to help tell these explanations apart.

Quality assurance and quality control (QA/QC)

Soil samples were collected from the B horizon and submitted to ALS Canada Ltd. in North Vancouver, B.C., where they were screened to minus 180 microns (ALS method SCR-41) and analyzed by lithium borate fusion with inductively coupled plasma mass spectrometry (ALS method ME-MS81). ALS Vancouver is accredited to ISO/IEC 17025:2017 by the Standards Council of Canada (SCC file 15722), with method ME-MS81 included in its scope, and is independent of the company.

Tripoint inserted 22 pulp blanks and 19 field duplicates across both phases, approximately one of each for every 50 to 60 samples. All 19 duplicate pairs agree within 20 per cent and 18 pairs agree within 10 per cent. Due to the inherent nature of soil samples, such variation was expected. The blank material is not certified for rare earth elements but returned consistent rare earth values. No certified rare earth reference material was inserted in the field due to the early nature of soil sampling; ALS's internal quality control included certified reference materials (among them the rare earth standard AMIS0304), laboratory blanks and replicate analyses.

The Wicheeda North project

Wicheeda North comprises nine contiguous mineral claims totalling 2,138 hectares (21.1 square kilometres) in the northern Cariboo mining division of British Columbia, in which the company holds an option to acquire a 75-per-cent interest. The property lies within the Rocky Mountain trench, a structural corridor known to host carbonatite intrusions associated with rare earth element mineralization, approximately five kilometres northwest of the Wicheeda rare earth deposit held by Defense Metals, in which the company has no interest. Mineral deposits and exploration results on neighbouring properties are not necessarily indicative of mineralization on the property and there can be no assurance that similar results will be obtained on the property. No mineral resource has been estimated on the property.

A five-year, multiyear area-based Mines Act permit, expiring in 2031, authorizes surface drilling at up to 70 sites, with the 2026 drill program being fully financed from the company's existing treasury.

Qualified person

The scientific and technical information contained in this news release has been reviewed and approved by Darcy Vis, BSc, PGeo, president of Tripoint Geological Services, a qualified person within the meaning of National Instrument 43-101, Standards of Disclosure for Mineral Projects. Mr. Vis is not independent of the company for the purposes of NI 43-101 as Tripoint is the company's exploration contractor at Wicheeda North.

About Primary Hydrogen Corp.

Primary Hydrogen is dedicated to the exploration and development of natural hydrogen resources. In 2026, the company staked the Northumberland and Wallace projects in the Cumberland basin of Nova Scotia and the Seagull North project in Northwestern Ontario, and it holds additional natural hydrogen projects elsewhere in Canada and in the United States. Primary also holds an option to acquire a 75-per-cent interest in the Wicheeda North rare earth element project in British Columbia.

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