Element One Advances U.S. Hydrogen and Critical Minerals Platform with Strategic MOU

Element One has taken a step toward developing a U.S.-based platform for natural hydrogen and critical minerals, signing a Memorandum of Understanding with Twin Sisters Olivine to secure feedstock supply and a potential project site in Washington State. 

The agreement outlines a framework for long-term supply of high-grade olivine and access to land for a planned demonstration facility, where the company intends to evaluate an integrated approach to producing both hydrogen and critical minerals. The project is being designed to test whether silicate minerals can support a multi-commodity extraction model, combining hydrogen generation with the recovery of materials such as nickel, magnesium, and iron. 

With an initial plant capacity under evaluation at approximately 50,000 tonnes per year, the proposed facility would operate at demonstration scale, providing technical and economic data to assess the viability of future commercial development. The approach reflects a broader trend toward combining energy and mineral extraction within a single operational framework. 

As demand for domestic supply chains continues to grow across both energy and critical minerals, Element One is positioning itself within two converging sectors, advancing a model that links resource processing with emerging hydrogen production pathways. 

Full press release is attached below:

Vancouver, British Columbia--(Newsfile Corp. - May 5, 2026) - Element One Hydrogen & Critical Minerals Corp. (CSE: EONE) ("Element One" or the "Company") today announced a significant step toward advancing a domestic U.S. supply platform for critical minerals and natural hydrogen research, following the execution of a Memorandum of Understanding ("MOU") with Twin Sisters Olivine, Ltd. ("Twin Sisters").

The MOU outlines a proposed framework under which Twin Sisters would provide a long-term supply of high-grade olivine material and sublease property in Washington State for the development of a planned demonstration facility. The Company is evaluating an initial plant capacity of approximately 50,000 tonnes of olivine per year.

"This announcement reflects a transition from technology development toward a potential demonstration pathway," said Tim Johnson, Chief Operating Officer of Element One. "We are working to position Element One within two strategically important sectors, natural hydrogen and critical minerals, while advancing a project that may support domestic supply chain objectives."

Strategic Framework

Under the terms of the MOU, Twin Sisters has agreed to:

• Supply a minimum of 50,000 tonnes of olivine annually over an initial five-year period, with potential expansion to 100,000 tonnes per year;
• Provide access to a proposed plant site in Washington State through a sublease arrangement.

Element One intends to utilize proprietary and innovative mineral extraction processes developed in collaboration with Revora Materials, alongside innovative hydrogen evolution technology under development , to assess the co-production potential of:

• Natural hydrogen
• Class 1 nickel concentrate
• Magnesium hydroxide
• Iron oxide
• Silica

The Company believes that a multi-commodity processing model may offer potential advantages compared to traditional single-commodity extraction approaches, particularly in an environment of increasing demand for secure, domestic supply of both energy and critical materials.

Development Pathway
The proposed demonstration facility is expected to target an initial throughput of approximately 150 tonnes per day. Subject to technical validation and economic assessment, the Company will evaluate a potential scale-up pathway toward larger commercial operations.

The project remains in the planning stage and will require additional engineering studies, permitting, financing, and execution of definitive agreements.

Positioning Within Key Market Themes

The Company believes the proposed platform provides exposure to two significant and evolving global market trends:

• Natural Hydrogen - an emerging energy theme focused on low-carbon hydrogen generation from naturally occurring geological systems
• Critical Minerals - including both magnesium, where there is no current US domestic supply and battery-grade nickel, which is widely viewed as essential to electrification, energy storage, and advanced manufacturing

Governments in North America and globally have increasingly emphasized the importance of domestic supply chains for both energy and critical minerals, particularly in light of geopolitical risk and trade policy developments.

Key Highlights

• Proposed U.S.-based demonstration platform targeting integrated hydrogen and critical minerals production
• Long-term feedstock supply framework under evaluation
• Identified potential plant location in Washington State
• Multi-commodity processing model designed to evaluate co-production economics
• Exposure to natural hydrogen and battery-grade nickel market dynamics
• Scalable development concept from demonstration to potential commercial operations

Commercial Considerations
The Company intends to conduct further technical and economic analysis to evaluate the potential commercial viability of the proposed project. Any future development decisions will be subject to the results of such studies, as well as market conditions, permitting, financing, and other factors.

No assurances can be made that the demonstration project will be constructed or that commercial production will be achieved.

About Element One Hydrogen & Critical Minerals Corp.
Element One Hydrogen & Critical Minerals Corp. (CSE: EONE) is a Canadian company focused on the exploration, development, and commercialization of natural hydrogen and critical mineral resources, as well as new hydrogen-generation technologies. The Company's projects include the Foggy Mountain critical minerals 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.

Stay connected with us as we get busy with social media:

• X (formerly Twitter) at www.x.com/Element_One_H2
• LinkedIn www.linkedin.com/company/element-one-h2
• YouTube at www.youtube.com/@ElementOneHydrogen

For further information visit our website at www.e1-h2.com or to connect directly, please reach out to Tim Johnson at tjohnson@e1-h2.com or 250.668.3161.

On behalf of the Board of Directors:
Brad Kitchen, CEO
Element One Hydrogen & Critical Minerals Corp.
e: bkitchen@e1-h2.com
c: 604.506.7555

This press release contains "forward-looking information" that is based on the Company's current expectations, estimates, forecasts, and projections. The words "will", "anticipated", "plans" or other similar words and phrases are intended to identify forward-looking information. Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause the Company's actual results, level of activity, performance, or achievements to be materially different from those expressed or implied by such forward-looking information.

Neither the Canadian Securities Exchange nor its Regulation Services Provider accept responsibility for the adequacy or accuracy of this release.