First Atlas commences exploration on Cumberland Basin hydrogen properties

Three QIMC field crews now active on the ground conducting soil-gas sampling to densify hydrogen anomalies and ground magnetic surveying along the Cobequid-Chedabucto Fault Zone QIMC's record DDH-26-04 results — including a peak reading of 24.3% H₂ — provide additional support for the interpreted relationship between surface soil-gas anomalies and hydrogen-bearing structures at depth, and highlight the significance of the newly recognized IOCG-style alteration system along the corridor Vancouver, British Columbia--(Newsfile Corp. - July 22, 2026) - First Atlas Resources Corp. (CSE: HHE) (OTC Pink: BTKRF) (FSE: 0NB0) ("First Atlas," "HHE," or the "Company") is pleased to announce that it has extended its collaboration and technical advisory agreement (the "Agreement") with Québec Innovative Materials Corp. (CSE: QIMC) (OTCQB: QIMCF) (FSE: 7FJ) ("QIMC"). Under the extended Agreement, QIMC exploration teams have commenced the 2026 field exploration program on HHE's natural hydrogen licences in Cumberland County, Nova Scotia. QIMC currently has three field teams active in the Advocate-Cumberland Basin area conducting systematic soil-gas geochemical sampling — including infill ("densification") sampling over previously identified elevated hydrogen anomalies — together with ground magnetic surveying.

This existing operational footprint allows QIMC to extend its crews, equipment, and its proprietary R2G2™ (Reactivated Rift and Graben Geostructure) targeting methodology directly onto HHE's ground with no mobilization delay. An Emerging Exploration Model Strengthened by Drilling Results The extension follows QIMC's July 20, 2026 announcement of final results from diamond drill hole DDH-26-04 at Bennett Hill, Nova Scotia, which included: A peak mud-gas reading of 24.3% H₂ at 707 metres — the highest single hydrogen reading recorded across QIMC's four-hole 2026 Advocate Area drilling program; Six readings at or above 10% H₂ and 46 readings at or above 1% H₂ across the 250 m to 818 m interval, with percent-level hydrogen sustained to within 39 metres of the end of hole; A consistently clean gas signature — methane at approximately 0% and CO₂ at or below 0.2% — across all four 2026 drill holes at two drill centres located 15 kilometres apart along the Cobequid-Chedabucto Fault Zone, supporting QIMC's district-scale natural hydrogen model. Critically for HHE, the Bennett Hill drill site was targeted from surface soil-gas hydrogen anomalies identified using the same soil sampling methodology QIMC's teams are now applying on HHE's licences.

QIMC has interpreted the elevated hydrogen readings in DDH-26-04 — from near-surface through to the end of hole — as consistent with an efficient, active migration pathway connecting a deep-seated hydrogen source to the soil-gas anomalies mapped at surface. In the Company's view, DDH-26-04 provides encouraging support for the interpretation that surface soil-gas anomalies may reflect active subsurface hydrogen migration pathways, increasing confidence in soil-gas geochemistry as an exploration targeting tool. The IOCG Analogy: A Structural Roadmap for Hydrogen QIMC also reported that core from DDH-26-04 displays pervasive structural and hydrothermal brecciation, hematite-rich alteration, and localized magnetite destruction texturally similar to alteration styles observed in Iron-Oxide-Copper-Gold ("IOCG") mineral systems.

IOCG systems require high structural permeability — breccia zones, reactivated faults, and penetrative fracture networks in granitoids — conditions considered favourable for fluid migration, including natural hydrogen. These inherited, long-lived permeable corridors are interpreted as favourable migration pathways for natural hydrogen observed along the Cobequid Fault Zone today. HHE's licences sit along this same regional structural corridor, and the Company's ground magnetic surveys are designed in part to map these iron-oxide alteration and structural signatures across HHE's ground.

A District-Scale Land Position HHE holds one of the largest natural hydrogen land positions in Nova Scotia's Cumberland County / Cumberland Basin region, alongside its technical partner QIMC, positioned along the regional Cobequid-Chedabucto Fault Zone — the structural corridor that hosts all four of QIMC's 2026 hydrogen-bearing drill holes. Richard Penn, President & CEO of First Atlas, commented: "The extension of our collaboration with QIMC allows First Atlas to immediately apply an exploration methodology that has generated significant hydrogen results elsewhere along the Cobequid-Chedabucto structural corridor. With active field crews already mobilized, we can rapidly advance systematic soil-gas sampling and magnetic surveys across our Cumberland Basin licences.

Our objective is to build a technically robust dataset capable of supporting future drill target selection." Program Details The initial phase of the HHE program will comprise: Infill soil-gas geochemistry over priority elevated hydrogen anomalies on HHE's licences, tightening sample spacing to refine anomalies suitable for drill targeting; Ground magnetic surveying to map fault splays, breccia corridors, and iron-oxide alteration signatures analogous to those documented in DDH-26-04; Integration of all datasets into QIMC's R2G2™ targeting framework, with the objective of defining ranked drill targets for a maiden HHE drill program. The Company expects field activities to continue throughout the summer exploration season. Results will be released as they are received, compiled, and validated.

Cautionary Note Regarding QIMC Results The drill results, soil-gas results, and geological interpretations referenced in this news release from QIMC's West Advocate, Eatonville Road, and Bennett Hill projects, including DDH-26-04, are located on QIMC's properties and not on the Company's licences. First Atlas has not independently verified the technical information disclosed by QIMC and is relying on such information as publicly reported. Hydrogen concentrations and geological conditions on adjacent or nearby properties are not necessarily indicative of conditions on the Company's properties, and geological continuity to HHE's claims is not guaranteed.

QIMC's reported mud-gas readings are preliminary in nature. The IOCG-style alteration analogy reported by QIMC is preliminary and based on textural observations, with laboratory assays pending. About First Atlas Resources Corp. (CSE: HHE) First Atlas Resources Corp. is a Canadian exploration company advancing a portfolio of natural hydrogen and critical mineral assets, with a strategic focus on natural hydrogen opportunities in Eastern Canada.

The Company holds natural hydrogen exploration licences within the Cumberland Basin region of Nova Scotia — one of the largest land positions in the district — and is advancing its Matane natural hydrogen project in Quebec, applying modern geological, geochemical, and geophysical targeting methodologies, including QIMC's R2G2™ framework, across the Cobequid-Chedabucto structural corridor. About Québec Innovative Materials Corp. (CSE: QIMC) Québec Innovative Materials Corp. is a North American exploration and development company advancing a portfolio of natural hydrogen and critical mineral projects. The Company is advancing its district-scale hydrogen exploration model across Québec, Ontario, Nova Scotia, and Minnesota (USA), leveraging its proprietary R2G2™ framework developed in collaboration with INRS.

For Further Information First Atlas Resources Corp. Richard Penn, President & Chief Executive Officer Tel: (778) 384-8923 Email: richard@firstatlasresources.com Neither the Canadian Securities Exchange nor its Market Regulator accepts responsibility for the adequacy or accuracy of this release. Forward-Looking Statements This news release contains forward-looking statements within the meaning of applicable Canadian securities legislation, including, but not limited to, statements regarding: the terms, duration, and anticipated benefits of the extended collaboration and advisory agreement with QIMC; the timing, scope, and results of planned soil-gas sampling, magnetic surveying, and other exploration activities; the interpretation of geological, geochemical, and geophysical data, including the interpreted relationship between surface soil-gas anomalies and subsurface hydrogen occurrences and the IOCG-style alteration analogy; the potential definition of drill targets and any future drill program; and the exploration potential of the Company's properties. Forward-looking statements are based on management's current expectations and assumptions and are subject to known and unknown risks that could cause actual results to differ materially, including risks related to exploration results, the preliminary nature of field measurements, the speculative nature of natural hydrogen exploration (an industry without established commercial production standards), regulatory approvals, financing, and market conditions.

There can be no assurance that hydrogen in commercial quantities exists on the Company's properties. The Company undertakes no obligation to update forward-looking statements except as required by law. To view the source version of this press release, please visit https://www.newsfilecorp.com/release/306059 Newsfile Corp. July 22, 2026 - 5:30 AM PDT News by QuoteMedia www.quotemedia.com