Mr. Bernard Tourillon of HPQ reports

HPQ SIGNS NDA WITH INDUSTRIAL GROUP TO EXPLORE FUMED SILICA PLANT JOINT VENTURE

HPQ Silicon Inc. has signed an NDA (non-disclosure agreement) with an undisclosed party related to its fumed silica initiative.

Following our press release of January 10, 2024, we were approached by an Industrial Group interested in assessing the commercial potential of our Fumed Silica Reactor (FSR) process. To facilitate more formal discussions, HPQ's wholly owned subsidiary, HPQ Silica Polvere Inc. (HPQ Polvere), along with the technology provider and equipment supplier, PyroGenesis Canada Inc. (TSX: PYR) (OTCQX: PYRGF) (FRA: 8PY) (PyroGenesis) signed a Non-Disclosure Agreement (NDA) [1] with the Industrial Group.

The purpose of the NDA is twofold:

First, it will enable both parties, HPQ Polvere and the Industrial Group, to conduct mutual due diligence, and

Second, it will enable both parties to assess the commercial and economic potential for a more formal collaboration regarding the construction and operation of a 1,000 tonnes per year (TPY) Fumed Silica Reactor to be built by PyroGenesis.

"The NDA, stands as tangible proof of the commercial interest in the potential of our proprietary Fumed Silica Reactor technology," said Mr. Bernard Tourillon, President and CEO of HPQ Silica Polvere Inc. and HPQ Silicon Inc. "While, at this stage, we have no guarantee that a formal commercial venture will emerge from these discussions, we are immensely encouraged by the ongoing talks.

HPQ POLVERE'S DISRUPTIVE ADVANTAGES ATTRACT INDUSTRIAL INTEREST

The table below clearly illustrates the numerous disruptive advantages of HPQ Polvere's Fumed Silica Reactor (FSR) compared to traditional Fumed Silica Manufacturing. The significant opportunities presented contributed to the interest from the Industrial Group.

A STEP FORWARD IN IMPLEMENTING OUR INCREMENTAL COMMERCIALISATION STRATEGY

The commercial imperative to construct a 1,000 tonnes per year (TPY) Fumed Silica Reactor, driven by the anticipated demand for low carbon fumed silica materials, is evident. HPQ Polvere's commercialization strategy centers on scaling up capacity to meet this demand, including the addition of other 1,000 TPY Fumed Silica Reactor.

"We are keenly interested in the possibility of implementing a pathway to commercialization and monetization of our Fumed Silica Reactor process that could be less dilutive for HPQ shareholders," Mr. Tourillon further emphasized, "This potential partnership could help us reach that goal faster."

About PyroGenesis Canada Inc.

PyroGenesis Canada Inc., a high-tech company, is a leader in the design, development, manufacture and commercialization of advanced plasma processes and sustainable solutions which reduce greenhouse gases (GHG) and are economically attractive alternatives to conventional "dirty" processes. PyroGenesis has created proprietary, patented, and advanced plasma technologies that are being vetted and adopted by multiple multibillion dollar industry leaders in three massive markets: iron ore pelletization, aluminum, waste management, and additive manufacturing. With a team of experienced engineers, scientists and technicians working out of its Montreal office, and its 3,800 m2 and 2,940 m2 R&D and manufacturing facilities, PyroGenesis maintains its competitive advantage by remaining at the forefront of technology development and commercialization. The operations are ISO 9001:2015 and AS9100D certified, having been ISO certified since 1997. For more information, please visit: www.pyrogenesis.com

About HPQ Silicon

HPQ Silicon Inc. ( TSX-V: HPQ ) is a Quebec-based TSX Venture Exchange Tier 1 Industrial Issuer. HPQ is developing, with the support of world-class technology partners PyroGenesis Canada Inc. and NOVACIUM SAS, new green processes crucial to make the critical materials needed to reach net zero emissions. HPQ activities are centred around the following four (4) pillars:

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