Mr. Richard Penn reports

FIRST ATLAS DELINEATES TWO HIGH-PRIORITY NATURAL HYDROGEN DRILL TARGETS FOLLOWING EXTENSIVE 2026 SOIL-GAS DENSIFICATION CAMPAIGN

The extensive 2026 natural hydrogen soil-gas densification campaign undertaken by Quebec Innovative Materials Corp. on behalf of First Atlas Resources Corp. has resulted in the delineation of two high-priority drill targets in the Oxford-Salt Springs area of Nova Scotia.

The 2026 program was specifically designed to increase sampling resolution around previously identified hydrogen anomalies. Quebec Innovative systematically densified soil-gas sampling along existing trails and roads within the Salt Springs licensed properties, generating a substantially more detailed geochemical picture of the target area. The increased sampling density, together with continuing geological and geophysical interpretation, has enabled the technical team to delineate two high-priority targets for drill testing.

2026 densification campaign delineates two high-priority drill targets

During July and August, 2026, Quebec Innovative intensified field sampling along existing roads and trails in the Salt Springs area. The objective was not simply to expand regional coverage, but to tighten sample spacing around anomalous hydrogen responses and improve the definition, continuity and spatial relationships of those anomalies. Soil-gas measurements included hydrogen (H2) together with H2S, CO, CH4 and CO2, with helium (He) subsequently incorporated into the field program.

The densification campaign has now provided First Atlas with the resolution required to delineate two high-priority drill targets in the Oxford-Salt Springs area. The targets are being refined through the integration of the soil-gas results with structural interpretation, surficial geology and ground-based geophysical work. This integrated approach is intended to optimize final drill collar locations and orientations rather than rely on individual surface measurements in isolation.

Exploration highlights

• Quebec Innovative undertook an extensive 2026 soil-gas densification campaign on behalf of First Atlas in the Oxford-Salt Springs area.
• Sampling was systematically intensified along existing trails and roads to increase resolution around previously identified elevated hydrogen anomalies.
• The higher-density 2026 data set has resulted in the delineation of two high-priority natural hydrogen drill targets.
• Helium and radon-thoron sampling is being used as complementary information in areas associated with anomalous hydrogen concentrations.
• Ground magnetometer and gravity surveys are being integrated with the soil-gas data set to improve definition of subsurface geology and structural controls.
• The two targets are being advanced toward final drill-hole design, including collar location, azimuth, inclination and planned depth.

Geology

The Oxford-Salt Springs area lies within a structurally complex portion of the Cumberland basin where mapped northwest-southeast, east-west and northeast-southwest faults intersect folded stratigraphy, including rocks of the Windsor formation and Cumberland Group. Edward Procyshyn, PGeo, who oversees exploration activities on First Atlas's Cumberland and Colchester natural hydrogen licences, is leading the geological interpretation of the Oxford-Salt Springs target area. These structures are being evaluated as potential fracture and permeability pathways that may influence the migration of naturally occurring hydrogen from depth. The two delineated drill targets are being refined in relation to these structural features and the spatial distribution of the densified hydrogen soil-gas anomalies.

Variable glacial overburden can affect the amount of hydrogen reaching surface and therefore the strength of individual soil-gas measurements. First Atlas and Quebec Innovative are consequently integrating the 2026 densified soil-gas results with surficial geology, structural mapping, GIS compilation, gravity, and magnetic data to better define potential hydrogen migration pathways and subsurface trapping environments and to optimize the locations and orientations of the two proposed drill holes. Mr. Procyshyn has reviewed the technical information and geological interpretations presented in this news release.

CEO comment

"The 2026 densification campaign has accomplished exactly what it was designed to do -- take previously identified hydrogen anomalies and systematically increase the resolution around them to define specific locations for drill testing," said Richard Penn, president and chief executive officer of First Atlas. "QIMC's team has undertaken an extensive field program along the roads and trails in the Oxford-Salt Springs area, and that higher-density data set has now allowed us to delineate two high-priority drill targets.

"This represents an important transition for First Atlas from surface exploration to drill targeting in Nova Scotia. Our focus now is on integrating the detailed soil-gas results with the structural and geophysical data sets so that we can optimize the two drill holes and test the strongest targets supported by the combined technical evidence."

Next steps

First Atlas and Quebec Innovative will complete the integration of the 2026 soil-gas data set with helium and radon-thoron measurements, surficial and structural geology, and ground magnetic and gravity data. This work will be used to finalize the collar locations, azimuths, inclinations and planned depths of the two proposed Oxford-Salt Springs drill holes. The current technical concept contemplates NQ core drilling, with final drill parameters subject to field conditions, permitting and operational planning.

About First Atlas Resources Corp.

First Atlas Resources is a Canadian natural resource exploration company with 100-per-cent-owned projects in Quebec and Nova Scotia targeting natural hydrogen and critical metals. Its portfolio includes the LaCorne South critical minerals project and Matane project in Quebec, together with the Cumberland-Colchester natural hydrogen projects in Nova Scotia. Exploration activities on the company's Nova Scotia natural hydrogen properties are carried out in collaboration with Quebec Innovative Materials Corp. (Canadian Securities Exchange: QIMC).

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