Mr. Jai Duhan of Respec Consulting reports

ATCO MINING UNVEILS 3D GEOLOGY MODEL OF ITS FLAT BAY SALT PROJECT IN SOUTHWESTERN NEWFOUNDLAND

Atco Mining Inc. has completed the 3-D geological model of the company's Flat Bay salt project. The work was completed by the company's contracted consulting partner, Respec Consulting Inc., a global leader in geology, geophysical and engineering work with direct experience in underground hydrogen storage caverns.

Respec analyzed the gravity and 2-D seismic data provided by Atco to build a 3-D geology model of the apparent salt structure at the Flat Bay project site in southwestern Newfoundland. The 3-D model is used for: (1) the placement of future core well locations; (2) defining the dimensions (that is, the extent and thickness) of the salt structure; (3) estimating the potential number of salt caverns that could be developed within the property; and (4) estimating the potential amount of hydrogen that could be stored in salt caverns in the project area. Based on the interpretation of the ground gravity and seismic data related to the project, as well as the 3-D geological model, the maximum thickness of the salt structure is identified to be approximately 1,700 metres, suggesting that salt caverns with volume in excess of two million cubic metres per cavern can be solution mined within the property.

Respec is currently working on estimating the total number of caverns that could potentially be solution mined in the salt structure and the potential total hydrogen storage capacity of the cavern field.

Highlights:

• Ground gravity and 2-D seismic data were used to interpret the evaporite geology and build a 3-D geological model of the apparent salt structure at the Flat Bay project site.
• The maximum thickness of the salt structure is identified to be approximately 1,700 m.
• Hydrogen storage salt caverns exceeding a storage volume of two million cubic metres per cavern could potentially be developed within the property.
• The apparent salt structure spans an area of approximately 4,000 m by 2,500 m.

Jai Duhan, subsurface energy storage consultant at Respec, comments: "The 3-D geology modelling of the salt structure has allowed us to understand the extent and thickness of the apparent salt structure. Respec is currently working on estimating the preliminary hydrogen storage capacity of the cavern field and is looking forward to assisting Atco Mining in defining the appropriate next steps in the exploration program."

Qualified person

The technical content of this news release has been reviewed and approved by Tabetha Stirrett (PGeo), who is a qualified person as defined by National Instrument 43-101.

About Atco Mining Inc.

Atco is a junior exploration mining company focused on exploring for green energy metals throughout Canada. Atco is exploring for salt and hydrogen storage opportunities in western Newfoundland.

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