• Advances Element One's strategy to establish a domestic North American magnesium supply chain

• Laboratory validated proprietary critical mineral extraction technology advances toward pilot-scale testing using Element One's U.S. olivine feedstock.

• Creates a potential pathway to commercial production of magnesium, nickel and cobalt for strategic North American markets.

Vancouver, British Columbia--(Newsfile Corp. - July 7, 2026) - Element One Hydrogen & Critical Minerals Corp. (CSE: EONE) ("Element One" or the "Company") is pleased to announce that it has taken another significant step toward establishing a vertically integrated North American magnesium supply chain by entering into a Memorandum of Understanding ("MOU") with Revora Materials ("Revora"), a New York-based critical minerals technology company commercializing advanced mineral extraction technologies.

The agreement combines Element One's secure access to a North American premier magnesium-rich olivine feedstock under the Company's previously announced supply agreement with Twin Sisters Olivine Ltd. in Washington State with Ravora's proprietary critical minerals extraction technology, creating a pathway to evaluate domestic production of magnesium products and potentially other minerals such as nickel, cobalt and silica.

Magnesium is designated as a critical mineral by both the United States and Canada and is essential for aerospace, automotive, defence, aluminum alloys, batteries and lightweight manufacturing. North America currently imports an overwhelming majority of its magnesium supply, creating a strategic opportunity for domestic production.

"This partnership with Revora represents another important milestone in our strategy to build an integrated North American critical minerals platform," stated Brad Kitchen, Chief Executive Officer of Element One. "We have secured access to a significant source of magnesium-rich feedstock at Twin Sisters and have now complimented this with potentially transformative processing technology to evaluate domestic magnesium production of high-value products. We believe this positions Element One at the intersection of critical minerals, advanced environmentally responsible manufacturing and North American supply chain security. "

Creating an End-to-End North American Critical Minerals Supply Chain

Element One has now assembled the foundational components required to evaluate the domestic production of magnesium products;

• Large-scale U.S. magnesium-rich feedstock
• Proprietary environmentally responsible extraction technology
• Pilot-scale commercialization pathway
• Potential downstream magnesium metal production
• North American supply chain.

In March 2026, Element One announced an agreement with Twin Sisters Olivine LLC to secure access to magnesium-rich olivine material from the Twin Sisters ultramafic complex in Washington State. The Twin Sisters ultramafic complex is recognized as one of the largest olivine bodies in North America and is located within proximity to major transportation and industrial infrastructure on the U.S. west coast.

The Company's relationship with Twin Sisters provides a potential long-term source of magnesium-bearing feedstock, while the collaboration with Revora is intended to evaluate technologies capable of converting that feedstock into high-value magnesium products, including high-purity magnesium oxide (MgO), magnesium hydroxide and ultimately magnesium metal in partnership with refiners.

"Our collaboration with Element One is a natural fit for where Revora is right now," said Sravanth Gadikota, Chief Executive Officer of Revora Materials. "We've spent the last several years developing and validating IonMet™, our technology platform that recovers multiple critical minerals from a single ultramafic feedstock. Element One's olivine deposit in Washington State gives us access to one of the highest-purity, large-scale domestic feedstock sources on the continent. This partnership provides exactly the scale we need to move toward full commercial validation. Together, we're demonstrating that North America has both the feedstock and the technology to build a domestic critical minerals supply chain - and that the time to act is now."

Strategic Path

Revora has completed laboratory testing of the proprietary extraction process on a variety of materials and is poised to advance to pilot-scale testing of Twin Sisters olivine feedstock. Successful validation could support the development of a commercial facility capable of producing high-purity magnesium compounds and, ultimately, magnesium metal for North American defense, aerospace, automotive and energy markets.

Together, the Twin Sisters and Revora partnerships represent a foundational step toward establishing one of the first integrated North American magnesium development platforms capable of supplying strategically important materials to defence, transportation, energy and advanced manufacturing industries.

About Revora Materials, Inc.

Revora Materials is a New York-based critical minerals technology company commercializing IonMet™, a proprietary electrochemical platform for multi-metal recovery from various feedstocks including olivine, serpentine, and industrial slag.

About Element One Hydrogen & Critical Minerals Corp.

Element One Hydrogen & Critical Minerals Corp. (CSE: EONE) is building an integrated North American natural hydrogen and critical minerals platform focused on advancing secure, domestic energy and critical minerals supply chains. Through a growing portfolio of strategic resource assets, proprietary technologies and industry partnerships, the Company is advancing the exploration, development and commercialization of natural hydrogen, magnesium and other critical minerals. Element Ones'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 and domestic critical mineral supply chains.

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For further information visit our website at www.e1-h2.com or to connect directly, please reach out to Tim Johnson, COO 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. This forward-looking information includes, among other things, statements with respect exploration and development plans, as anticipated or at all. 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.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/304207

Source: Element One Hydrogen and Critical Minerals