Element One Moves Twin Sisters Magnesium Strategy Into Recovery Testing With Revora

Element One Hydrogen & Critical Minerals is moving its Twin Sisters magnesium opportunity in Washington State from initial feedstock characterization into mineral recovery testing, with representative olivine sand samples now at Revora Materials in New York for evaluation.

The next phase follows assay results announced earlier this week showing magnesium grades of 26.39% to 28.46% Mg across eight samples, together with nickel concentrations ranging from 2,660 to 3,305 ppm Ni.

The relatively tight magnesium range provides the starting point for the next and more consequential stage of the program: determining how much of those contained minerals can actually be recovered, what products can be produced and whether the processing route has the potential to become commercially viable.

Element One's memorandum of understanding with Millbank Materials gives the company the right to purchase up to 50,000 tonnes of material annually, with an option to increase that amount to 100,000 tonnes per year.

That potential feedstock access distinguishes the current program from an early-stage greenfield mineral exploration project. Rather than first having to discover and delineate a new deposit, Element One is evaluating material from an operating quarry where olivine is already being produced.

The company has not established a mineral resource or reserve at Twin Sisters, however, and the volumes covered by the Millbank agreement represent potential feedstock access rather than projected production.

Revora's work will focus on how the Twin Sisters material responds to its IonMet™ electrochemical processing platform, which is designed to generate and recycle chemicals used during mineral extraction.

Testing is expected to examine how minerals are released from the olivine-rich material and subsequently separated, with particular attention to potential magnesium and nickel recovery.

The program will also investigate the form and purity of resulting products, processing inputs and costs, while assessing whether other components of the feedstock could provide additional recoverable value.

That moves the Twin Sisters strategy beyond the question answered by the September 22 assays.

Those results established that the selected samples contain consistently high magnesium concentrations and measurable nickel. They did not determine how much of either metal can be extracted economically.

Revora's work is intended to begin answering that question.

Element One CEO Brad Kitchen said the testing represents a critical step toward determining whether the magnesium-rich feedstock can ultimately be converted into saleable mineral products.

If the results support the company's objectives, the work could provide the technical basis for designing a pilot program.

Several variables will determine whether the concept advances that far.

Recovery rates have not yet been established, nor have final product specifications, purity levels, processing costs or overall project economics. Element One has also made no decision to construct either a pilot-scale or commercial facility.

That makes the upcoming testing an important technical gate rather than simply another characterization exercise.

The progression is increasingly straightforward:

assay the feedstock → test mineral liberation and separation → establish recovery rates → characterize products → evaluate processing costs → determine whether pilot-scale work is justified.

Element One is also maintaining a second potential development pathway for the same Twin Sisters material.

The company intends to work with Columbia University to investigate whether the iron-bearing ultramafic rock can generate hydrogen through accelerated serpentinization.

Full press release is attached below:

Vancouver, British Columbia--(Newsfile Corp. - September 25, 2026) - Element One Hydrogen & Critical Minerals Corp. (CSE: EONE) ("Element One" or the "Company") is advancing its Twin Sisters magnesium opportunity in Washington State following assays of up to 28.46% magnesium. Representative olivine sand samples from Millbank Materials' quarry are now with Revora Materials Inc. ("Revora") in New York for evaluation of potential magnesium, nickel and other mineral recovery.

Eight samples returned 26.39% to 28.46% magnesium and 2,660 to 3,305 parts per million nickel, as announced on September 22, 2026. The tight magnesium range across the initial samples provides a promising basis for recovery testing. Element One's memorandum of understanding with Millbank Materials gives it the right to purchase up to 50,000 tonnes of material annually, with an option to increase that amount to 100,000 tonnes.

The next milestone is to determine how much of the contained minerals can be recovered, the quality of the resulting products and whether the process can support a commercially viable operation.

"The assays confirm that the material we are evaluating is magnesium-rich, and our agreement gives us a potential source of U.S. feedstock at meaningful scale," said Brad Kitchen, President and CEO of Element One. "Revora's work is the critical step toward turning that potential into saleable products. If the testing supports our objectives, it can provide the foundation for a pilot program and a new domestic source of magnesium and other valuable minerals."

Next steps toward mineral products
Revora will characterize the sand and assess its response to the IonMet™ electrochemical platform, which is designed to generate and recycle chemicals used in mineral extraction. The planned work will examine how minerals are released and separated, measure potential magnesium and nickel recoveries, and evaluate product forms, purity, processing inputs and costs. Element One will also assess whether other components have recoverable value.

The results will guide the scope of further testwork and any future pilot program. Recovery rates, product specifications, processing costs and economic viability have not yet been established, and the Company has made no decision to construct a pilot or commercial facility.

Element One also intends to work with Columbia University to investigate natural hydrogen generation from the same ultramafic material through accelerated serpentinization. That separate research remains at an early stage.

The assays announced on September 22, 2026, reflect limited samples from selected quarry-face and processed-material locations and may not represent all Twin Sisters material. No mineral resource or reserve has been established. The volumes contemplated under the Millbank MOU are potential feedstock access, not a production forecast.

Other Corporate News
The Company proposes to reduce the exercise price of 3,000,000 warrants issued on August 10, 2026 (the "Warrants") from $0.25 per common share to $0.15 per Common share effective as of September 25, 2026. None of the Warrants have been exercised as of the date of this news release. The amendments to the Warrants described herein are subject to the acceptance of the CSE.

Further to its announcement on September 9, 2026 regarding the current LIFE placement, the Company had an additional subscription for 200,000 $0.10 units at $0.10 that were not announced. These units will be issued today.

About Element One Hydrogen & Critical Minerals Corp.
Element One Hydrogen & Critical Minerals Corp. (CSE: EONE), through a growing portfolio of strategic resource assets, proprietary technologies and industry partnerships, is advancing the exploration, development and commercialization of natural hydrogen, magnesium and other critical minerals. Element One's projects span British Columbia, Washington State and Alaska and are supported by collaborations with world-class research institutions, including Columbia University, and strategic partnerships with industry, Indigenous communities and government. By combining resource development with innovative processing technologies, Element One is positioned to help strengthen North America's energy security, industrial resilience and critical mineral supply chains.

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On behalf of the Board of Directors

Brad Kitchen
President and Chief Executive Officer
Element One Hydrogen & Critical Minerals Corp.
Email: bkitchen@e1-h2.com
Telephone: 604.506.7555

Forward-Looking Information

This news release contains forward-looking information within the meaning of applicable Canadian securities laws, including statements about planned characterization and process testing, potential mineral recoveries and products, feedstock availability, pilot work, hydrogen research and possible project development. Actual results may differ materially due to sampling representativeness, technical performance, recoveries, product quality, costs, financing, permitting and partner performance. Readers should not place undue reliance on forward-looking information. Except as required by law, the Company undertakes no obligation to update it.

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