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Calgary, Alberta--(Newsfile Corp. - April 24, 2025) - Record Resources Inc. (TSXV: REC) reports it has acquired more hydrogen claims in the Lake Temiskaming hydrogen camp.
The company has acquired the Lorrain hydrogen property which is strategically located between its recently acquired Lorrain-Bucke property and its Paradis Bay hydrogen property. The news follows on the recent discovery of hydrogen in lake samples on its Lorrain-Bucke property (Record Resources news release, April 7, 2025). Also, on April 10, 2024, partner and neighbour, Quebec Innovative Materials Corp (QIMC), Laval, Quebec reported "new high hydrogen concentrations of 21,882 PPM (2.
19%) and 21,055 PPM (2.11%) on its Lake Temiskaming property. The Lorrain property on its northern boundary is contiguous to Record Resources' Paradis Bay property.
The northern boundary of Paradis Bay is contiguous to the Lorrain-Bucke properties completing a chain of properties stretching 30 kilometres along the eastward-dipping Lake Timiskaming West Shore Fault system. See Figure 1 below. In this area, the sedimentary and volcanic formations dip westward and potentially create structural and hydrological conditions that can trap the accumulation of gases that contain hydrogen as previously described in press releases (See Record Resources news releases of January 14, and March 18 2025).
The string of properties are strategically located, between major rift faults that are part of the Lake Temiskaming Graben structure, a tectonic feature recognized for its potential to host deep mantle-derived volatile-rich sources, including hydrogen. As previously described Lake Timiskaming is located on the eastern boundary of a rift zone approximately 50 kilometres wide bounded by a series of northwest-southeast trending faults. This zone has been more recently tectonically reactivated during the Mesozoic Ottawa-St.
Lawrence rifting episode. It is probable that temperatures at the base of the Timiskaming graben will be substantial enough to promote the production of hydrogen at the required rates. The potential for natural hydrogen is further enhanced by shallow depths to the Precambrian basement that include tholeiitic basalts ultramafic rocks and granite exposed both in the area of the Lorrain property and on the northern and eastern portions of the Rift basin in neighbouring Quebec.
On the southern margins of the Lorrain property, the Cobalt Groups metasedimentary formations and the Nipissing diabase sill and dikes are seen to onlap toward the south over the Precambrian basement units. The northwardly dips and plunges of folds grading from exposures of basement rock can promote the infiltration of surface water into the deeper parts of the basement and promote serpentinization of the Archaean basalt and ultramafic units to produce free hydrogen. Lorrain property consists of 110 claim cells.
Record Resources will issue an aggregate of 2,400,000 common shares to a group of arm's length vendors, namely Gravel Ridge Resources Ltd., 1544230 Ontario Inc and 0761585 BC Ltd. and make a single cash payment of $24,000.
A 2% Gross Revenue Royalty (GRR) shall be granted from the sale of hydrogen or any other mineral product from the property. Record may purchase from the vendors, at its sole option, 50% of the GRR at any time for $2,000,000. The option agreement was signed on April 14, 2025.
No finders fees were paid. The agreement is subject to the approval of the TSX Venture Exchange. For more information please contact: Michael C.
Judson, Chairman & CEO Record Resources Inc. T. +1-514-865-5496 Website: www.
recordgoldcorp.com Cautionary Statements This news release contains "forward-looking information" and "forward-looking statements" (collectively, "forward-looking statements") within the meaning of the applicable Canadian securities legislation. All statements, other than statements of historical fact, are forward-looking statements and are based on expectations, estimates and projections as at the date of this news release.
Any statement that involves discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions, future events or performance (often but not always using phrases such as "expects", or "does not expect", "is expected", "anticipates" or "does not anticipate", "plans", "budget", "scheduled", "forecasts", "estimates", "believes", an or "intends" or variations of such words and phrases or stating that certain actions, events or results "may" or "could", "would" , "might" or "will" be taken to occur or be achieved) are not statements of historical fact and may be forward-looking statements. In this news release, forward-looking statements relate, among other things, to: approval of the Private Placement and obtaining a full revocation order. This forward-looking information reflects the Company's current beliefs and is based on information currently available to the Company and on assumptions the Company believes are reasonable.
These assumptions include, but are not limited to: the market acceptance of the Private Placement; the ability of the Company to obtain a full revocation order and the receipt of all required approvals in connection with the foregoing. Forward looking information is subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of the Company to be materially different from those expressed or implied by such forward-looking information. Such risks and other factors may include, but are not limited to: general business, economic, competitive, political and social uncertainties; general capital market conditions and market price for securities; and the delay or failure to receive board, shareholder, court or regulatory approvals.
Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. Readers are cautioned that the foregoing list of factors is not exhaustive. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements.
Accordingly, readers should not place undue reliance on the forward-looking statements and information contained in this news release. Except as required by law the Company does not assume any obligation to update the forward-looking statements of beliefs, opinions, projections, or other factors, should they change. Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
The Units and the securities comprising the Units have not been and will not be registered under the United States Securities Act of 1933, as amended and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirement. This news release shall not constitute an offer to sell or the solicitation of an offer to buy any securities nor shall there be any sale of securities in the Unites States, or any other jurisdiction, in which such offer, solicitation or sale would be unlawful. Not for distribution to U.
S. Newswire Services or for dissemination in the United States. Any failure to comply with this restriction may constitute a violation of U.
S. Securities laws. Figure 1: Map courtesy Perry English from OGS Map M236 and Quebec Innovative Material news releases in 2024.
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