Primary Hydrogen Acquires Hopkins Project in Ontario

Primary Hydrogen Corp. (TSXV: HDRO) ("Primary Hydrogen" or the "Company"), a natural hydrogen exploration company, is pleased to announce the proposed acquisition of the Hopkins Hydrogen Project ("Hopkins", the "Project", or "Hopkins H2 Project"). The Hopkins hydrogen project is comprised of 31 mineral claims covering an area of 6,920 hectares (69.2 km2) located 35 kilometres north of Kapuskasing, Ontario.

"The acquisition of the Hopkins H2 Project demonstrates the continued commitment to our growth strategy of assembling a diversified portfolio of highly-prospective hydrogen projects throughout Canada," commented Benjamin Asuncion, CEO of Primary Hydrogen. "Grounded on solid geologic fundamentals and leveraging off of extensive exploration in the region, this project has the potential to host numerous sources of naturally-occurring hydrogen. Additionally, the presence of forest rings on the margins of identified intrusive complexes and along major NE trending faults highlights the potential of gas or fluid percolation to the surface."

Hopkins H2 Project

The Hopkins H2 Project is comprised of 31 mineral claims covering an area of 6,920 hectares (69.2 km2) located 35 kilometres north of Kapuskasing, Ontario. The project is accessible via the Trans Canada Highway and has an extensive network of secondary gravel and logging roads throughout. Based on local and regional geology, the potential for naturally-occurring hydrogen (NOH) is present through both serpentinization and radiolysis, which is further encouraged by the presence of a number of 'forest ring' features which may be indicative of gas and fluid percolation to the surface.

The exploration target on the project are structures near alkali intrusives which are associated with the mid-continent rift. The Project is adjacent to the Clay-Howells Alkali carbonatite intrusive, which is host to a rare earth element, thorium and iron resource1. Given the radiogenic nature of the intrusive, this has the potential to produce naturally occurring hydrogen (NOH) through radiolysis. The intrusives are associated with northeast trending regional faults that are likely linked to their emplacement, which may serve as a conduit for deeper seeded fluids and gasses. Additionally, the presence of magnetite or iron-rich rocks such as olivine have the potential to generate hydrogen through the interaction with water during oxidation and radiolysis.

Figure 1: HOPKINS PROJECT MAP

To view an enhanced version of this graphic, please visit:
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R. Tim Henneberry, P.Geo. (BC) and a consultant to Primary Hydrogen Corp. is the Qualified Person under National Instrument 43-101 who has reviewed and approved the technical content of this news release.

Transaction Terms

Under the terms of the Mining Claims Purchase Agreement (the "Acquisition Agreement"), the Company is acquiring a 100% interest in the Hopkins H2 Project for consideration of C$96,000 and 450,000 common shares. The Vendors have been granted a 1.5% net smelter returns royalty (NSR) on the Hopkins H2 Project of which half (0.75%) can be repurchased by the Company for C$750,000. The proposed acquisition remains subject to customary conditions of closing, including the approval of the TSX Venture Exchange. The common shares issued under the Acquisition Agreement will be subject to a four-month statutory hold period in accordance with applicable securities laws.

Primary Hydrogen | http://www.primaryh2.com/