Quebec Innovative Materials Corp. (“QIMC” or the “Company”) is pleased to announce a strategic collaboration with Record Resources and congratulates Record for the option agreement to acquire a key property in the Temiskaming hydrogen camp, directly adjacent to QIMC's significant hydrogen discovery. This strategic collaboration strengthens QIMC's position as a key player in Ontario's rapidly growing renewable natural hydrogen sector, while maintaining a focused commitment to rapidly advancing development at QIMC's Quebec St Bruno de Giugues Natural Hydrogen project. As part of the collaboration, QIMC will receive 6,600,000 shares of REC and a 1% Gross Revenue Royalty (GRR).
The Lorrain-Bucke claim blocks acquired by Record Resources Corp. are underlain by Huronian Group sedimentary and volcanic formations that unconformably overlie Archean metavolcanic and metasedimentary units of the Superior Province rocks. The Huronian Supergoup, in turn, is overlain by a thick succession of Ordovician limestone, dolostone and lesser amount of interbedded sandstone and local conglomerate. This is a geological setup associated with significant natural hydrogen resource potential. These blocks are strategically located, between major rift faults in the Lake Temiskaming Graben structure, a tectonic feature recognized for its potential to host deep mantle-derived volatile-rich sources, including hydrogen.
Furthermore, the claims' potential is further enhanced by the presence of ultramafic rocks exposed on the northern and eastern portions of the Rift basin in neighboring Quebec. These units exhibit a distinctive magnetic response that extends into Ontario, which suggests the presence of basement ultramafic rocks at the base of the Rift basin. Additionally, a prominent gravity low coincides with a large granitic intrusion mapped in the western Lorrain Township (see QIMC press release December 5, 2024). This gravity low anomaly is shown to extend westward into Lake Temiskaming and potentially marks the location of thick Paleozoic cover, which is a positive indication for deeper natural hydrogen resource potential.
This option and collaborative venture also strengthens Record's strategic relationship with QIMC, a leader in natural hydrogen exploration. QIMC will join Record as a partner, bringing its advanced methodologies and expertise to the relationship. This positions both companies to capitalize on the region's unique geological features and accelerate hydrogen exploration and extraction in the Temiskaming hydrogen camp.
Record Resources will issue 6,600,00 common shares to QIMC and a 1% Gross Revenue Royalty (GRR) shall be granted from the sale of hydrogen or any other mineral product from the property. Record may purchase from QIMC, at its sole option, 50% of the GRR at any time for $1,000,000.
Michael Judson, CEO of Record Resources, added: "The option to acquire a key property is a transformative step for Record as we solidify our presence in the Temiskaming hydrogen camp. Our strengthened relationship with QIMC brings invaluable expertise and innovation to our operations. Together, we are committed to advancing hydrogen exploration and contributing to a sustainable energy future."
John Karagiannidis, CEO and Director of QIMC, stated: "We are thrilled to expand our partnership with Record Resources and contribute our proven hydrogen exploration methodologies and know-how to the Temiskaming hydrogen camp. This collaboration, alongside our recent agreement with DMED's extraction technology, underscores our shared commitment to unlocking the full potential of natural hydrogen resources. Together, we are laying the groundwork for Ontario to emerge alongside Quebec as cornerstones of the Canadian and North American hydrogen economy."