February 19, 2025 – Record Resources Inc. (TSX-V: REC) announces that it has received conditional approval from the TSX Venture Exchange for the acquisition of the Beauchamp natural hydrogen Property (see November 21 and December 18, 2024 news releases). The company considers this transaction closed.
As previously reported, Beauchamp is located on a pivotal western geological extension in Ontario, building upon Quebec Innovative Materials Corp. (QIMC)’s landmark Quebec hydrogen discovery along the western geological regional trend. This strategic acquisition solidifies Record Resources’ position as the Ontario leader in renewable hydrogen exploration and strengthens its commitment to advancing sustainable energy solutions.
The Beauchamp Property consists of 300 claims and is situated on a broad northwesterly-trending Lake Timiskaming Rift zone, split by the Cross Lake Fault and extending northward to touch the western margin of the Lake Timiskaming Westshore fault. The geo-scientific disclosure contained herein is not necessarily indicative of the mineralization on the property.
The arm’s-length agreement with a private exploration company provides Record with 100% ownership of the hydrogen claims in exchange for 12,500,000 shares issued at a deemed value of $0.03 per share and a cash consideration of $39,000. The vendor will retain a 2% gross revenue royalty, with the option for Record Resources to repurchase half of the royalty for $2 million.
Exploration activities are expected to commence this year including advanced geophysical analysis and field studies to further evaluate the potential for hydrogen generation and migration within the extension.
In other news, Record wishes to report that an option agreement on a gold exploration property in Djibouti, Africa, owned by a private equity fund, has been cancelled (for details on the original deal please see August 28 and 30, 2023 new releases).
About Record Resources Inc.
Record Resources is a Canadian exploration company (TSXV-REC). The company is focused on acquiring and developing its hydrogen and gold exploration properties. Record Resources is operated by a highly experienced and well connected management team which has access to extraordinary exploration opportunities and technical expertise. The company is also backed by an accomplished group of capital markets professionals.
Qualified Person:
Edward Procyshyn, P.Geo, a qualified person in accordance with National Instrument 43-101, has reviewed and approved the technical information contained in this news release.
For more information please contact:
Michael C. Judson, Chairman & CEO
Record Resources Inc.
T. +1-514-865-5496
February 19, 2025 – Record Resources Inc. (TSX-V: REC) announces that it has received conditional approval from the TSX Venture Exchange for the acquisition of the Beauchamp natural hydrogen Property (see November 21 and December 18, 2024 news releases). The company considers this transaction closed.
As previously reported, Beauchamp is located on a pivotal western geological extension in Ontario, building upon Quebec Innovative Materials Corp. (QIMC)’s landmark Quebec hydrogen discovery along the western geological regional trend. This strategic acquisition solidifies Record Resources’ position as the Ontario leader in renewable hydrogen exploration and strengthens its commitment to advancing sustainable energy solutions.
The Beauchamp Property consists of 300 claims and is situated on a broad northwesterly-trending Lake Timiskaming Rift zone, split by the Cross Lake Fault and extending northward to touch the western margin of the Lake Timiskaming Westshore fault. The geo-scientific disclosure contained herein is not necessarily indicative of the mineralization on the property.
The arm’s-length agreement with a private exploration company provides Record with 100% ownership of the hydrogen claims in exchange for 12,500,000 shares issued at a deemed value of $0.03 per share and a cash consideration of $39,000. The vendor will retain a 2% gross revenue royalty, with the option for Record Resources to repurchase half of the royalty for $2 million.
Exploration activities are expected to commence this year including advanced geophysical analysis and field studies to further evaluate the potential for hydrogen generation and migration within the extension.
In other news, Record wishes to report that an option agreement on a gold exploration property in Djibouti, Africa, owned by a private equity fund, has been cancelled (for details on the original deal please see August 28 and 30, 2023 new releases).
About Record Resources Inc.
Record Resources is a Canadian exploration company (TSXV-REC). The company is focused on acquiring and developing its hydrogen and gold exploration properties. Record Resources is operated by a highly experienced and well connected management team which has access to extraordinary exploration opportunities and technical expertise. The company is also backed by an accomplished group of capital markets professionals.
Qualified Person:
Edward Procyshyn, P.Geo, a qualified person in accordance with National Instrument 43-101, has reviewed and approved the technical information contained in this news release.
For more information please contact:
Michael C. Judson, Chairman & CEO
Record Resources Inc.T. +1-514-865-5496
Website: www.recordgoldcorp.com