[CA Market News]

Record Resources Receives Key 3D-Seismic Dataset and Commences Reprocessing Project for Selection of Drilling Location on Existing Loba Oil Discovery and Mapping of Over 28 Identified High Impact Marquee Prospects Across the Ngulu Block in Gabon, Africa

April 7, 2026 9:15 AM
Newsfile

Calgary, Alberta--(Newsfile Corp. - April 7, 2026) - Record Resources Inc. (TSXV: REC) ("Record Resources" or the "Company") is pleased to announce that it has received from the Directorate General of Hydrocarbons (DGH) of the Ministry of Petroleum and Gas of Gabon all sets of government owned legacy 3D seismic Data. This includes the 1993 vintage Mandaros 3D seismic data covering the eastern part of the Ngulu block and the 2001 vintage Moabi 3D seismic data that covers the western end of the Ngulu block. In addition to seismic data, the Contractor has received all existing well data and reports over the Ngulu block (See figure 1 below).

3D Seismic Reprocessing Project Underway

Record and its strategic partner have received these legacy datasets as part of signing of the Ngulu PSC, and as a result the partnership can move much faster in the appraisal of the Loba oil discovery and further definition of the remaining exploration potential of the Ngulu block without the need to shoot new 3D seismic, resulting in major cost savings. The global cost of shooting circa 1000Km² of new 3D seismic today would have been in the order of US$10-$20 million. The partnership is currently reprocessing 3D seismic data over the key areas of the Ngulu block, including the Loba oil discovery. Upon completion, the Company will select an appraisal / development location on the Loba oil discovery in the second half of 2026.

New 3D seismic reprocessing algorithms have been developed recently by a number of geophysical firms These algorithms provide significantly clearer imaging of the subsurface, particularly in complex geological settings involving subsalt and presalt plays, permitting a more precise mapping and definition of leads and prospects in the Ngulu Block. The Ngulu Contractor group has retained the services of DUG Technology's Houston office to undertake the reprocessing project, using their acoustic Multi-Parameter Full Wavefield Inversion (MP-FWI) technology, which is at the forefront of current seismic imaging technology. The legacy 1993 vintage Mandaros 3D seismic data have been successfully copied and sent to DUG Technology for reprocessing, with the project expected to last for 3 plus months. The Mandaros data covers the eastern end of the block and includes the Loba oil discovery and most of our marquee prospects in shallow water.

NGULU Block: Large Scale with Existing Oil Field Development and Inventory of High Impact Prospects Provides Significant Upside

The Ngulu block, which covers 1,214 Km² and is equivalent to 54 Gulf of Mexico blocks, is in shallow water offshore central Gabon. This strategic block is located on trend to several sizable producing oil fields. The key aspects of the Ngulu Block include the Loba oil field discovery and over 28 seismically identified prospects in the Pre-salt Gamba / Dentale and Post-salt plays. The previous operator identified these prospects based on reprocessed 3D seismic data, but technology has evolved for the better since 2017. Our marquee prospects on the block include Lepidote Deep (Post-salt play), the Palomite Complex including Deep (Pre-salt play) and shallow (Post Salt) prospects and the Pompano complex with both postsalt and subsalt prospects.Following 3D seismic reprocessing by DUG Technology now underway, the Ngulu Contractor group plans to undertake an exhaustive remapping and both confirmation of the existing leads/prospects and identification of additional plays and prospects. Record Resources, in conjunction with its joint venture partner, will also conduct in 2026 an independent third-party resource report to outline the size and scope of the opportunities across the block, including the contingent resources at the Loba oil discovery and prospective resources in our marquee prospects.

Loba Oil Complex: Existing Oil Development Offering Near-Term Production Potential

The Loba Field was discovered by Elf-Gabon's LOM-1 well, which targeted the Batanga and Anguille reservoirs. The LOM-1 well discovered a shallow oil zone (27^o API gravity oil) in the Batanga Formation with 140 metres of gross oil column (70 metres net pay) and is similar to nearby producing fields Barbier, Barbier Southwest and Ablette. The Loba oil discovery was made in 60 metres of water depth and is approximately 10 kilometres from the Barbier field existing infrastructure, operated by international oil company Perenco. Management believes that low-cost options are available for the development of the Loba Complex, which include the initial Loba oil discovery and follow-on appraisal targets at Loba Deep and Loba East. The Loba field complex has potential production of ~20,000 Bbl/d ^(1)(2)(3)(4) based on offset fields. Wells in analogous fields have shown Initial production rates ("IP rates") up to 7,600 Bbl/d of oil with a single completion ^(1)(2)(3)(4). These analogous wells are located within 40 km from the Loba Oil Complex and are in the same targeted reservoir.

1. Grondin Field. AAPG Memoir Giant Oil and Gas Fields of the Decade: 1968-1978 / Geology of Grondin Field. Peak field production at Grondin ~25,000 bbl/d.

2. Baudroie field, Nguma Moabi TCM report 17, May 2006. Initial production 1972. Total production reported at 42,000 bbl/d. IPs up to 7,600 BBls/d.

3. Torpille field, operator Societe des Petroles d'Afrique Equatoriale Francaise (Total Energies), 1972 report. Total field production reported as 25,000 BBls/d.

4. We are unable confirm if the reports were prepared by a qualified reserves evaluator or auditor or in accordance with the COGE handbook.

Drilling of First Loba Oil Appraisal Well — Funded via Financial Carry by Operating Partner

Under the deal signed with its strategic partner and Operator of the Ngulu block, Record Resources is fully carried financially through the first phase of exploration/appraisal expenditures including all seismic reprocessing activities and the drilling of the first well on the block to total depth. As such the Company will not be cash-called until after the first well is drilled to its total depth.

High Impact Exploration Prospects Inventory:

Approximately 28 prospects have been delineated on vintage 3D seismic data by prior operators, with estimated sizes consistent with offsetting producing fields ranging from 35 MMboe — 250 MMboe per prospect. The application of DUG's MP-FWI technology will allow the Company to more precisely identify and map our prospects in order to develop a drilling inventory of low-risk high-materiality exploration targets from the enhanced dataset. Marquee prospects previously identified are described below:

Lepidote Deep — Azile Channel Complex

The Lepidote Deep prospect (Post-salt) has multiple stacked turbidite channels that can be tested from a single well targeting an estimated 800 metres of gross interval of stacked sands. An initial Lepidote 1 well was drilled in the 1970's on sparse 2D seismic data with the well encountering strong oil shows but was not drilled deep enough to penetrate the deeper prospective intervals. The Lepidote Deep prospect benefits from its proximity to established infrastructure with available capacity, supporting a potential cost-effective development project.

Palomite Complex

The Palomite complex provides exposure to test multiple prospective horizons in the post, Sub-salt and Pre-salt with a single well. The Palomite Post-salt Cluster targets stacked reservoirs in the Batanga, Anguille and Cape Lopez reservoirs, while the Palomite Pre-salt Cluster targets the Gamba and Dentale reservoirs in an optimal position from a reservoir and source rock maturity and charge standpoint. The old 3D seismic dataset provided inadequate imaging at the Pre-salt level, however, the application of DUG's MP-FWI technology is expected to significantly enhance imaging and materially improve structural interpretation.

Pompano Dentex Complex

The Pompano Dentex Complex has multiple stacked channel systems within three main targets, Batanga, Lower Anguille and Cap Lopez. Similar to the above Palomite Complex, the application of DUG's MP-FWI technology is expected to significantly enhance imaging and materially improve structural understanding and interpretation.

"We are finally on our way to realising the full potential of our Ngulu block. The Operator's selection of DUG Technology as our reprocessing service provider for the Mandaros 3D seismic demonstrates their acute knowledge of the industry and the winning formula to extract maximum value from these legacy 3D seismic datasets. We are convinced that these reprocessed data will provide a far superior image of the Loba oil field Complex discovery, allowing rapid appraisal and development to be achieved with greatly reduced risk, and finally revealing the full prospectivity and upside of the Ngulu block," said Alain Mizelle, Record's President and COO. "Record is on the cusp of unlocking transformational shareholder value, the months that lie ahead will unveil just that," added Michael Judson, Record's Chairman and CEO.

Corporate Presentation

An updated corporate presentation can be accessed on Record Resources' website at https://recordresourcesinc.com/. The corporate presentation contains detailed information related to the news release.

https://images.newsfilecorp.com/files/1769/291379_6e6d5b4144bd4bcb_001.jpg" />

Figure 1

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/1769/291379_6e6d5b4144bd4bcb_001full.jpg

For more information please contact:

Michael Judson, Chairman & CEO
Record Resources Inc.

Robert Kramberger, VP Capital Markets
Record Resources Inc.
rkramberger @mycle63-8080Website: recordresourcesinc.com

Neither the TSXV nor its Regulation Services Provider (as that term is defined in policies of the TSXV) accepts responsibility for the adequacy or accuracy of this release.

Cautionary Note Regarding Forward-Looking Statements:

This news release contains forward-looking statements and/or forward-looking information (collectively, "forward-looking statements") that are based on Record Resources' current expectations, estimates, forecasts and projections. The words "estimates", "projects", "expects", "intends", "believes", "plans", or their negatives or other comparable words and phrases are intended to identify forward-looking statements and include statements regarding management's expectation anticipated production timeline, the 28 mapped prospects; management's exploration and development plans; and all other expectations, intentions, and plans that are not historical fact.

Forward-looking statements are based on a number of material factors, expectations, or assumptions of Record Resources which have been used to develop such statements and information but which may prove to be incorrect. Although Record Resources believes that the expectations reflected in such forward-looking statements are reasonable, undue reliance should not be placed on forward-looking statements because Record Resources can give no assurance that such expectations will prove to be correct. In addition to other factors and assumptions which may be identified herein, assumptions have been made regarding, among other things: that Record Resources will continue to conduct its operations in a manner consistent with past operations; the quality of the reservoirs in which Record Resources operates; the timely development of infrastructure in areas of new production; certain cost assumptions; continued availability of equity financing to fund Record Resources' current and future plans and expenditures; the impact of increasing competition; the general stability of the economic and political environment in which Record Resources operates; the general continuance of current industry conditions; the timely receipt of any required regulatory approvals; the ability of Record Resources to obtain qualified staff, equipment and services in a timely and cost efficient manner; drilling results; the ability of Record Resources to obtain financing on acceptable terms; the ability to replace and expand oil and natural gas reserves through acquisition, development and exploration; the timing and cost of facility construction and expansion and the ability of Record Resources to secure adequate product transportation; future commodity prices; currency, exchange and interest rates; regulatory framework regarding royalties, taxes and environmental matters in the jurisdictions in which Record Resources operates; and the ability of Record Resources to successfully market its oil and natural gas products.

The forward-looking information included in this news release are not guarantees of future performance and should not be unduly relied upon.

There can be no assurance that such statements will prove to be accurate, as the Company's actual results and future events could differ materially from those anticipated in these forward-looking statements. Actual future results may differ materially. Various assumptions or factors are typically applied in drawing conclusions or making the forecasts or projections set out in forward-looking information. Those assumptions and factors are based on information currently available to Record Resources. The forward-looking information contained in this release is made as of the date hereof and Record Resources undertakes no obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as required by applicable securities laws. Because of the risks, uncertainties and assumptions contained herein, investors should not place undue reliance on forward-looking information. The foregoing statements expressly qualify any forward-looking information contained herein.

The forward-looking information and statements contained in this news release speak only as of the date of this news release, and Record Resources does not assume any obligation to publicly update or revise any of the included forward-looking statements or information, whether as a result of new information, future events or otherwise, except as may be required by applicable securities laws.

Abbreviations

bbl	barrels of oil
bbl/d	barrels of oil per day
MM	millions
MMbbl	millions of barrels of oil
boe	barrel of oil equivalent
boepd	barrel of oil equivalent per day
bopd	barrel of oil per day
MMboe	million barrels of oil equivalent
km2	square kilometres

 

A barrel of oil equivalent ("boe") may be misleading, particularly if used in isolation. A boe conversion ratio of 6 Mcf:1 Bbl is based on an energy equivalency conversion method primarily applicable at the burner tip and does not represent a value equivalency at the wellhead. In addition, given that the value ratio based on the current price of crude oil as compared to natural gas is significantly different from the energy equivalency of 6:1, utilizing a conversion on a 6:1 basis may be misleading as an indication of value.

Analogous Information
Certain information in this document may constitute "analogous information" as defined in National Instrument 51-101 - Standards of Disclosure for Oil and Gas Activities ("NI-51-101 "), including but not limited to, information relating to the reservoirs in geographical proximity to lands that are held (or to be held) by Record Resources. Such information has been obtained from government sources, regulatory agencies or other industry participants. Record Resources believes the information is relevant as it helps to define the reservoir characteristics in which Record Resources may hold (or acquire) an interest. Record Resources is unable to confirm that the analogous information was prepared by a qualified reserves evaluator or auditor. Such information is not an estimate of the reserves or resources (or production levels) attributable to lands held or potentially to be held by Record Resources and there is no certainty that the reservoir data and economics information for the lands held or potentially to be held by Record Resources will be similar to the information presented herein. The reader is cautioned that the data relied upon by Record Resources may be in error and/or may not be analogous to such lands to be held by Record Resources.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/291379

Original: Record Resources Receives Key 3D-Seismic Dataset and Commences Reprocessing Project for Selection of Drilling Location on Existing Loba Oil Discovery and Mapping of Over 28 Identified High Impact Marquee Prospects Across the Ngulu Block in Gabon, Africa

[CA Market News]

Record Resources Offers Potential AI Power Demand Solution with Natural Hydrogen Assets Across Three Key Properties Offsetting Existing Industry Discoveries

March 18, 2026 9:15 AM
Newsfile

Calgary, Alberta--(Newsfile Corp. - March 18, 2026) - Record Resources (TSXV: REC), which owns three strategically located natural hydrogen properties in Ontario, plans to further assess the company's options to non-dilutively unlock value for its shareholders in order to capitalize on the AI-driven demand for natural hydrogen as a key power source for the industry.

The driving factor for Record's natural hydrogen proprieties is the emerging, critical, high-efficiency requirement to supply 24/7 baseload power for the surging energy demands of AI (Artificial Intelligence) data centers, as power consumption is projected to more than double by 2030 to roughly 945 terawatt-hours (TWh). This is quadruple the current power draw, necessitating a rapid shift from traditional grid reliance to independent power solutions, according to IEA reports.

Lorrain-Bucke Natural Hydrogen Property

Record's Lorrain-Bucke natural hydrogen property is located at Lake Temiskaming, Ontario and is 100 percent owned by the company. Lorrain-Bucke is adjacent to Quebec Innovative Materials Corporation's (QIMC.CN; over CDN $240 million market capitalization) hydrogen discovery. The Lorrain-Bucke property is strategically located between major rift faults in the Lake Temiskaming Graben structure, a tectonic feature recognized for its potential to host deep mantle-derived volatile-rich sources, including hydrogen. Hydrogen anomalies were identified at Lorraine-bucke by QIMC and Marc Richer-Lafleche of Quebec's Institut National de Recherche Scientifique (INRS) during the winter of 2025.

Paradis Bay Natural Hydrogen Property

The Paradis Bay 27 claims are located five kilometres west of the town of Ville Marie, Quebec, near the claims held by QIMC and border the town of Paradis Bay, Ontario. The claims are located along the eastward dipping Lake Timiskaming West Shore Fault system. In this area the sedimentary and volcanic formations dip westward and potentially create structural and hydrological conditions that can trap the accumulation of gases that contain hydrogen. The discovery of natural hydrogen gas seeps in the Lake Timiskaming area located on the border of Ontario and Quebec. Lake Timiskaming is located on the eastern boundary of a rift zone approximately 50 kilometres wide bounded by a series of northwest-southeast trending faults.

Beauchamp Natural Hydrogen Property

The Beauchamp natural hydrogen property, consisting of 300 claims, 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. Exploration for hydrogen-bearing gas pools have yet to be undertaken on the Beauchamp property. Temiskaming rift faults and earlier crustal faults controlling the emplacement of Nipissing intrusions certainly extend deep into the crust below cover Proterozoic and Paleozoic sediments to tap hydrologic fluid flow in the Archean basement rocks and even magma pools in the upper mantle - conditions very favorable for generating hydrogen gas. The presence of broad shallow-dipping low conductive areas at deeper levels may reflect more a highly conducting sedimentary layer but these responses may also indicate a layer containing a trapped hydorgenic gas pool. Both faults extend to the southeast. The Lake Timiskaming Westshore (LTW) fault enters Lake Timiskaming at New Liskeard and runs along the west shore of Lake Timiskaming; the Cross Lake fault parallels the LTW fault to cut the northwest corner of Record Resources Paradis Bay property and extends into Lake Timiskaming.

Given Record has no value in its current market capitalization for the three hydrogen properties outlined above, the company plans to assess ways to unlock value for shareholders on these assets while moving forward with its fully carried 2026 business plan in Gabon, Africa, following the significant acquisition of the Ngulu oil and gas block (See company's September 12, 2025 news release).

Corporate AGM Update:

Record is also pleased to announce the election of six directors at its Annual and Special Meeting of Shareholders held on February 27, 2026. The newly elected board consists of Bill Torr and Robin Sutherland, Dr. Paul Craig, Nathalie Kavanagh, Michael Judson, and David Johnson. Mr. Johnson had resigned earlier to make room for Bill Torr and was re-elected to the board at the AGM.

For more information please contact:
Robert Kramberger, VP, Capital Markets
Record Resources Inc.
T. [phone]

Website: recordresourcesinc.com

Cautionary Statements
This news release contains "forward-looking information" and "forward-looking statements" (collectively, "forward-looking statements") within the meaning of the applicable Canadian securities legislation. All statements, other than statements of historical fact, are forward-looking statements and are based on expectations, estimates and projections as at the date of this news release. Any statement that involves discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions, future events or performance (often but not always using phrases such as "expects", or "does not expect", "is expected", "anticipates" or "does not anticipate", "plans", "budget", "scheduled", "forecasts", "estimates", "believes", an or "intends" or variations of such words and phrases or stating that certain actions, events or results "may" or "could", "would" , "might" or "will" be taken to occur or be achieved) are not statements of historical fact and may be forward-looking statements. In this news release, forward-looking statements relate, among other things, to: approval of the Private Placement and obtaining a full revocation order. This forward-looking information reflects the Company's current beliefs and is based on information currently available to the Company and on assumptions the Company believes are reasonable. These assumptions include, but are not limited to: the market acceptance of the Private Placement; the ability of the Company to obtain a full revocation order and the receipt of all required approvals in connection with the foregoing. Forward looking information is subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of the Company to be materially different from those expressed or implied by such forward-looking information. Such risks and other factors may include, but are not limited to: general business, economic, competitive, political and social uncertainties; general capital market conditions and market price for securities; and the delay or failure to receive board, shareholder, court or regulatory approvals. Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. Readers are cautioned that the foregoing list of factors is not exhaustive. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on the forward-looking statements and information contained in this news release. Except as required by law the Company does not assume any obligation to update the forward-looking statements of beliefs, opinions, projections, or other factors, should they change.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

The Units and the securities comprising the Units have not been and will not be registered under the United States Securities Act of 1933, as amended and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirement. This news release shall not constitute an offer to sell or the solicitation of an offer to buy any securities nor shall there be any sale of securities in the United States, or any other jurisdiction, in which such offer, solicitation or sale would be unlawful. Not for distribution to U.S. Newswire Services or for dissemination in the United States. Any failure to comply with this restriction may constitute a violation of U.S. Securities laws.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/288848

Original: Record Resources Offers Potential AI Power Demand Solution with Natural Hydrogen Assets Across Three Key Properties Offsetting Existing Industry Discoveries

[CA Market News]

Record Resources Grants Stock Options

February 12, 2026 6:00 PM
Newsfile

Receives TSX approval for previously announced shares for debt agreement

Calgary, Alberta--(Newsfile Corp. - February 12, 2026) - Record Resources Inc. (TSXV: REC) has issued a combined total of 6,150,000 million stock options to directors, officers and consultants of the company in accordance with a stock option plan approved by shareholders at its Annual General Meeting, May 14, 2025.

The options distribution is as follows: 1,600,000 options were granted to Officers of the company; 2,800,000 were issued to Directors; and 1,750,000 were issued to Consultants.

The options were granted as part of Record's continuing efforts to align the interests of its leadership and key partners with those of shareholders and to reward contributions to the company's continued growth and development.

The total 6,150,000 million stock options are exercisable at a price of $0.10 cents per share for a period of five years from the date of grant. All options are subject to the terms and conditions of the company's equity incentive plan and applicable regulatory approvals.

Record Resources has received approval from the TSX Venture Exchange to issue 6,000,000 common shares for a debt settlement with a former consultant (for more information see July 8, 2025 and January 9, 2026 news releases).

For more information please contact:

Robert Kramberger, VP Capital Markets
Record Resources Inc.
T. + 1 514-758-8080
Website: recordresourcesinc.com

Cautionary Note Regarding Forward-Looking Statements:

This news release contains forward-looking statements and/or forward-looking information (collectively, "forward-looking statements") that are based on Record Resources'Record Resources' current expectations, estimates, forecasts and projections. The words "estimates", "projects", "expects", "intends", "believes", "plans", or their negatives or other comparable words and phrases are intended to identify forward-looking statements and include statements regarding management's expectation anticipated production timeline, the 28 mapped prospects; management's exploration and development plans; and all other expectations, intentions, and plans that are not historical fact.

Forward-looking statements are based on a number of material factors, expectations, or assumptions of Record Resources which have been used to develop such statements and information but which may prove to be incorrect. Although Record Resources believes that the expectations reflected in such forward-looking statements are reasonable, undue reliance should not be placed on forward-looking statements because Record Resources can give no assurance that such expectations will prove to be correct. In addition to other factors and assumptions which may be identified herein, assumptions have been made regarding, among other things: that Record Resources will continue to conduct its operations in a manner consistent with past operations; the quality of the reservoirs in which Record Resources operates; the timely development of infrastructure in areas of new production; certain cost assumptions; continued availability of equity financing to fund Record Resources' current and future plans and expenditures; the impact of increasing competition; the general stability of the economic and political environment in which Record Resources operates; the general continuance of current industry conditions; the timely receipt of any required regulatory approvals; the ability of Record Resources to obtain qualified staff, equipment and services in a timely and cost efficient manner; drilling results; the ability of Record Resources to obtain financing on acceptable terms; the ability to replace and expand oil and natural gas reserves through acquisition, development and exploration; the timing and cost of facility construction and expansion and the ability of Record Resources to secure adequate product transportation; future commodity prices; currency, exchange and interest rates; regulatory framework regarding royalties, taxes and environmental matters in the jurisdictions in which Record Resources operates; and the ability of Record Resources to successfully market its oil and natural gas products.

Certain information in this document may constitute "analogous information" as defined in National Instrument 51-101 - Standards of Disclosure for Oil and Gas Activities ("NI-51-101 "), including but not limited to, information relating to the reservoirs in geographical proximity to lands that are held (or to be held) by Record Resources. Such information has been obtained from government sources, regulatory agencies or other industry participants. Record Resources believes the information is relevant as it helps to define the reservoir characteristics in which Record Resources may hold (or acquire) an interest. Record Resources is unable to confirm that the analogous information was prepared by a qualified reserves evaluator or auditor. Such information is not an estimate of the reserves or resources (or production levels) attributable to lands held or potentially to be held by Record Resources and there is no certainty that the reservoir data and economics information for the lands held or potentially to be held by Record Resources will be similar to the information presented herein. The reader is cautioned that the data relied upon by Record Resources may be in error and/or may not be analogous to such lands to be held by Record Resources.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/283736

Original: Record Resources Grants Stock Options

[delerious1]

Record Resources Appoints a Second Ex-Tullow Oil Executive to Its Board
November 06 2025 - 9:15AM


Finance Executive, Bill Torr, Appointed Director

Calgary, Alberta--(Newsfile Corp. - November 6, 2025) - Record Resources Inc. (TSXV: REC) has appointed to its board of directors ex-Tullow Oil executive, Bill Torr.

Further to the recent appointment of Robin Sutherland as a Record Resources director, Bill Torr was also part of the original executive team at Energy Africa, Cape Town. Bill started his career as finance manager with Engen Exploration and its North Sea investments and operations at the Alba and Britannia fields in the early 1990s. Engen Exploration division became Energy Africa in the 1996 and was sold to Tullow Oil, Dublin, in 2004. Torr had been company secretary at the inception of Energy Africa and became its Chief Financial Officer in the four years prior to its sale.

During his period with Energy Africa, Torr was responsible for raising financing for oil and gas asset development in Equatorial Guinea, the North Sea and elsewhere. He was also responsible for funding the acquisition of the M'Boundi oil and gas block located onshore in the Republic of Congo. M'Boundi was subsequently developed by Maurel & Prom, Paris, and, later sold to ENI. Production there reached 56,000 barrels of oil per day.

At Energy Africa, Torr was involved in defending the company against a hostile takeover bid from the Malaysian national oil company, Petronas. Following the Petronas action, Energy Africa was acquired by Tullow.

Subsequent to the Tullow Oil takeover, Torr became General Manager for Tullow South Africa and was responsible for its local operations as well as involvement in commercial issues in different African countries. Torr exited Tullow in 2015 and joined Africa Energy Corp (AEC), a Lundin group company comprised of many former executives from Energy Africa and Tullow. During this period, Torr was involved in a review of opportunities and assets in and beyond Southern Africa, including acquiring an interest in Block 11B/12B located off the South African coast operated by Total Energies, Paris. This acquisition led to the subsequent discoveries of the Brulpadda and Luiperd gas and condensate fields. Torr, since 2019, has been a financial and commercial consultant based in Cape Town, South Africa, for both AEC and Africa Oil Corp (Meren).

Alain Mizelle, President and COO said: "Bill's distinguished financial and commercial accomplishments make him a valuable additional contributor to Record's board. His track record of success in the oil and gas sector spans the North Sea to West and Southern Africa. His leadership qualities have been proven and tested at Energy Africa, Tullow Oil and recently AEC. We are very proud for someone of this calibre, depth and experience to agree to join Record Resources and work with the rest of the board and team to help grow shareholder value."

The appointment of Bill Torr to the board of directors of the company is subject to approval of the TSX Venture Exchange.

David Johnson is resigning his board seat to allow room for Mr. Torr's appointment. Mr. Johnson remains the company's Corporate Secretary and Legal Counsel.

For more information please contact:

Michael C. Judson, Chairman & CEO
Record Resources Inc.
T. [phone]
Website: recordresourcesinc.com

[delerious1]

Ex-Tullow Oil Executive, Robin Sutherland, Joins Record Resources as Director
Calgary, Alberta--(Newsfile Corp. - November 3, 2025) - Record Resources Inc. (TSXV: REC) has appointed ex-Tullow Oil executive, Robin Sutherland, as director.

Sutherland was Exploration Manager for Tullow Oil during the discovery and appraisal of Ghana's Jubilee Oil Field in 2007. The field was co-developed by Kosmos Energy, Anadarko, and Tullow. Jubilee was considered one of the largest oil discoveries of its kind in West Africa. During its peak it was producing over 110,000 barrels of oil per day.

Sutherland was also instrumental in the discovery and appraisal of the TEN oil fields in Ghana and exploration and appraisal campaigns across the east African rift, including the South Lokichar basin in Kenya, before becoming Tullow's General Manager Exploration Africa in 2015.

Sutherland is presently a director of Invictus Energy Limited. He is joined there by well-known oil and gas executive, John Bentley, the leader of the management team that launched Cape Town-Energy Africa Ltd in 1995. Sutherland joined Energy Africa in 1997 as a specialist geophysicist and was instrumental in making several important hydrocarbon resource discoveries prior to the acquisition of Energy Africa by Tullow in 2004.

In 2020, Robin launched a successful consultancy business, assisting companies with exploration, appraisal and development of Africa's extensive natural resources. During this period he co-founded the Mozambique-Southern Africa Power Project designed to utilize Mozambique's gas resources to generate power locally and across southern Africa.

Record Resources President and COO, Alain Mizelle, said "Robin has been in the oil and gas E&P business for 40 years. He is not only an outstanding career specialist geophysicist, but his track record of achievements as an oil and gas finder for Energy Africa, Tullow Oil and recently Invictus speaks loudly. He will reinforce greatly our board and the success of the company."

The appointment of Robin Sutherland to the Board of Directors of the Company is subject to approval of the TSX Venture Exchange.

[tdbowieknife]

Record Resources now also trading on OTCMarkets as RECRF

It's currently trading Grey Market because is brand new. Just stated today 10/23/2025




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[tdbowieknife]

Nobody here?,,, News...

https://finance.yahoo.com/news/record-resources-forms-strategic-joint-124500103.html


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[delerious1]

Record Resources Finalises Hydrogen Exploration Plans for its Lake Temiskaming Properties, Ontario
Hydrogen Exploration Plans Finalised
May 29, 2025 9:46 AM EDT | Source: Record Resources Inc.
Calgary, Alberta--(Newsfile Corp. - May 29, 2025) - Record Resources (TSXV: REC) reports that following technical discussions and evaluations it has finalized plans for a comprehensive hydrogen exploration work program on its hydrogen properties at Lake Temiskaming, Ontario.

The full program is a multi-disciplinary approach combining geochemistry, geology and geophysics with the objective of defining a working total hydrogen system and play fairways that will help map out and generate hydrogen gas leads and prospects. (See Fig 1 Map below).

The program to be phased out over the next 12 months will culminate in the drilling of our first hydrogen exploration wells targeting the most promising hydrogen prospects that will be defined and confirmed during the course of the work program.

The initial phase of exploration will be aimed at sampling the soil on a regular grid in order to measure the presence of anomalous levels of hydrogen, helium and other useful indicator gases such as nitrogen and methane. The sampling procedures to be used not only detect the presence of hydrogen, helium and other gases in the soil but over sampling time intervals at the site also indicate the flow rate of the gases into the sample chamber and indirectly calculate the vector direction to the sources of the gas potentially trapped much deeper in the subsurface.

The methods to be used by Record Resources will initially define local scale gases fields for hydrogen and helium that seep out and are transferred to the atmosphere via diffusive or advective processes after migrating through existing fault systems.

The company plans to initiate a phased SGS (Soil Gas Survey) program. Phase 1 SGS shall consist of regional sectional SGS on a 100m grid spacing using conical auger sampling one meter below ground to measure hydrogen and undertake mass spectrometry measurement of free gas in the vadose zone using steel probes developed by Geofrontiers USA to measure helium.

Phase 2 SGS will tighten the grid to 25-10m precision sampling on anomalous hydrogen and/or helium zones identified during Phase 1 using conical auger sampling for hydrogen and PHD-4 detectors to measure any helium detected in the field.

Work will also include UAV-Drone base detailed aeromagnetic, LIDAR, and satellite based hyperspectral surveys to better define the structures that may be tapping deeper areas where natural hydrogen and associated gases are being generated or stored as reservoirs.

These multi-disciplinary tools including geochemistry, geology and geophysical data will eventually be coupled with targeted 2D or 3D seismic data acquisition to allow the final definition of potential hydrogen leads and prospects both at a local and regional scale capable of trapping commercial gas accumulations that will be subsequently tested by drilling.

"The technical team has a firm grip on the way forward for our hydrogen-prospective Temiskaming properties," said Michael Judson, Chairman and CEO. "This work is essential in allowing Record to eventually discover the first ever commercial hydrogen deposits in Ontario. It is a very comprehensive work program aligned with other similar natural hydrogen and helium exploration projects in Europe, Africa and Australia."

For more information please contact:

Michael C. Judson, Chairman & CEO
Record Resources Inc.
T. [phone]
Website: recordresourcesinc.com

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NEWS: Record Resources Acquires Additional Hydrogen Claims at Lake Temiskaming
V.REC | 2 hours ago
Lorrain Property Fills Out Land Holdings at Lake Temiskaming

Calgary, Alberta--(Newsfile Corp. - April 24, 2025) - Record Resources Inc. (TSXV: REC) reports it has acquired more hydrogen claims in the Lake Temiskaming hydrogen camp.

The company has acquired the Lorrain hydrogen property which is strategically located between its recently acquired Lorrain-Bucke property and its Paradis Bay hydrogen property. The news follows on the recent discovery of hydrogen in lake samples on its Lorrain-Bucke property (Record Resources news release, April 7, 2025).

Also, on April 10, 2024, partner and neighbour, Quebec Innovative Materials Corp (QIMC), Laval, Quebec reported "new high hydrogen concentrations of 21,882 PPM (2.19%) and 21,055 PPM (2.11%) on its Lake Temiskaming property.

The Lorrain property on its northern boundary is contiguous to Record Resources' Paradis Bay property. The northern boundary of Paradis Bay is contiguous to the Lorrain-Bucke properties completing a chain of properties stretching 30 kilometres along the eastward-dipping Lake Timiskaming West Shore Fault system. See Figure 1 below.

In this area, the sedimentary and volcanic formations dip westward and potentially create structural and hydrological conditions that can trap the accumulation of gases that contain hydrogen as previously described in press releases (See Record Resources news releases of January 14, and March 18 2025).

The string of properties are strategically located, between major rift faults that are part of the Lake Temiskaming Graben structure, a tectonic feature recognized for its potential to host deep mantle-derived volatile-rich sources, including hydrogen.

As previously described Lake Timiskaming is located on the eastern boundary of a rift zone approximately 50 kilometres wide bounded by a series of northwest-southeast trending faults. This zone has been more recently tectonically reactivated during the Mesozoic Ottawa-St. Lawrence rifting episode. It is probable that temperatures at the base of the Timiskaming graben will be substantial enough to promote the production of hydrogen at the required rates.

The potential for natural hydrogen is further enhanced by shallow depths to the Precambrian basement that include tholeiitic basalts ultramafic rocks and granite exposed both in the area of the Lorrain property and on the northern and eastern portions of the Rift basin in neighbouring Quebec.

On the southern margins of the Lorrain property, the Cobalt Groups metasedimentary formations and the Nipissing diabase sill and dikes are seen to onlap toward the south over the Precambrian basement units. The northwardly dips and plunges of folds grading from exposures of basement rock can promote the infiltration of surface water into the deeper parts of the basement and promote serpentinization of the Archaean basalt and ultramafic units to produce free hydrogen.

Lorrain property consists of 110 claim cells. Record Resources will issue an aggregate of 2,400,000 common shares to a group of arm's length vendors, namely Gravel Ridge Resources Ltd., 1544230 Ontario Inc and 0761585 BC Ltd. and make a single cash payment of $24,000.

A 2% Gross Revenue Royalty (GRR) shall be granted from the sale of hydrogen or any other mineral product from the property. Record may purchase from the vendors, at its sole option, 50% of the GRR at any time for $2,000,000. The option agreement was signed on April 14, 2025. No finders fees were paid. The agreement is subject to the approval of the TSX Venture Exchange.

For more information please contact:

Michael C. Judson, Chairman & CEO
Record Resources Inc.
T. [phone]
Website: www.recordgoldcorp.com

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NEWS: Record Resources Encouraged By QIMC Hydrogen Estimate
V.REC | 4 hours ago
Calgary, Alberta--(Newsfile Corp. - March 3, 2025) - Record Resources Inc. (TSXV: REC) reports it is encouraged by the Quebec Innovative Materials Corp (QIMC) news of February 26, 2025 reflecting on the potential extent, size and value of hydrogen resources in the region of Lake Temiskaming Graben structure following their drilling success at their St-Bruno-de-Guigues property.

QIMC estimated potential hydrogen yields based on the following assumptions: i) that the porosity in the reservoir rock is fully saturated with hydrogen; ii) that the reservoir rock unit extends to a depth of 500 to 1000 meters within a five-square kilometre area.

The calculation indicates that with 1% porosity the reservoir rock could contain 17,000 tonnes of native hydrogen. This would have a value of US $171 million based on a price $5 USD/kg.

"These estimates, presented for informational purposes, highlight the theoretical resource potential within the fault-associated fracturing porosity of the Lake Timiskaming Graben, with a particular focus on the municipality of St-Bruno-de-Guigues," said QIMC CEO, John Karagiannidis.

It had been assumed by QIMC until recently that the source for hydrogen on their properties was from hydrolysis of olivine and orthopyroxene in ultramafic rocks that underlay the reservoir rock formation. At a recent meeting with the Québec Ministère de l'Économie, de l'Innovation et de l'Énergie (MEIE) on the 12th of February, 2025, QIMC presented that magnetite is also a critical mineral for hydrogen generation and that banded iron formations can become a major source for hydrogen. In addition to ultramafic rock units, extensive areas of iron formations are known to underlie the known areas of reservoir bearing units within the region of the Temiskaming Rift structure thus substantially increasing potential areas of hydrogen accumulation.

Record Resources presently holds several properties located within the Temiskaming Graben: i) the Lorrain-Bucke and the Paradis Bay properties located on the west side of Lake Temiskaming adjacent to the Lake Temiskaming West Shore fault (see news release January 14, 2025). These properties are contiguous to QIMC's St-Bruno-de-Guigues property; ii) the Beauchamp property located approximately 32 kilometres north-west from the northern tip of Lorraine-Bucke claim block, is straddled on the Cross Lake fault that parallels and lies approximately 7 kilometres west of the Temiskaming West Shore fault which also touches the north-east tip of the Beauchamp claim block (see news release February 19, 2025).

"Record Resource properties all lie within the Timiskaming Graben structure. Our properties all contain potential reservoir units. They are cut by the Temiskaming Fault systems and are underlain by iron formations and ultramafic rocks similar to the properties held by QIMC. The potential economic results reported by QIMC and their previously reported high hydrogen values (up to 7000 ppm) suggests that our properties are located in the right areas," says Michael Judson, CEO Record Resources Corp. The issuer and its qualified person has been unable to verify the information and that the information is not necessarily indicative of the mineralization on the issuer's properties

For full disclosure on the nature of the business relationship between Record Resources and QIMC, it should be noted that QIMC will soon be a major shareholder of Record following TSX-V exchange approval of the Lorrain-Bucke transaction. QIMC CEO, John Karagiannidis became a major shareholder of Record following the closing of the recently-announced Beauchamp hydrogen property acquisition. As well, QIMC's technical team has regular briefings with Record Resources' technical team.

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. [phone]

Website: www.recordgoldcorp.com

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TSXV: REC.......Record Resources Receives Approval for the Acquisition of the Beauchamp Natural Hydrogen Property

By
Fuel Cells Works

February 20, 2025 at 11:12 AM EDT



Calgary, Alberta-- Record Resources Inc. (TSXV: 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.

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Record Resources Inc. reaches new 52-Week High

Shares of Record Resources Inc. (TSXV:REC) hit a new 52-Week High today, currently trading at $0.065 on volume of 314,398 shares.
In the past 52 weeks, Record Resources Inc. has traded between a low of $0.005 and a high of $0.06 and is now trading 1200% above that low.

Record Resources Inc. shares have a 50-day moving average of $0.0309 and a 200-day moving average of $0.024575.

About Record Resources Inc.: Record Resources Inc formerly Silk Road Energy Inc is engaged in the exploration, development, and production of petroleum and natural gas assets in Alberta. The company conducts oil and gas production activities through jointly controlled operations.


News Provided by QuoteMediaNews 52Wk Hi-Lo via QuoteMedia

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Record Resources Inc V.REC Price rises +37.50% since its previous close with a trade of $0.055 02/18/2025

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NEWS: TSXV: REC.....Record Acquires Option on Key Temiskaming Hydrogen Property and Strengthens Strategic Collaboration with QIMC
Calgary, Alberta--(Newsfile Corp. - January 14, 2025) - Record Resources Inc. (TSXV: REC) is pleased to announce it has entered into an option agreement to acquire a key property in the Temiskaming hydrogen camp, directly adjacent to Quebec Innovative Materials Corporation (QIMC)'s significant hydrogen discovery. This strategic acquisition positions Record as a prominent player in hydrogen exploration within Ontario's rapidly expanding renewable hydrogen sector.

The Lorrain-Bucke claim blocks acquired by Record are underlain by Huronian Group sedimentary and volcanic formations that unconformably overlie Archean metavolcanic and metasedimentary units of the Superior Province rocks. The Huronian Supergoup, in turn, is overlain by a thick succession of Ordovician limestone, dolostone and lesser amount of interbedded sandstone and local conglomerate. This is a geological setup associated with significant natural hydrogen resource potential.

These blocks are strategically located, between major rift faults in the Lake Temiskaming Graben structure, a tectonic feature recognized for its potential to host deep mantle-derived volatile-rich sources, including hydrogen. (See figure 1).

Furthermore, the claims' potential is further enhanced by the presence of ultramafic rocks exposed on the northern and eastern portions of the Rift basin in neighboring Quebec. These units exhibit a distinctive magnetic response that extends into Ontario, which suggests the presence of basement ultramafic rocks at the base of the Rift basin. The information is not necessarily indicative of the mineralization on the property.

Additionally, a prominent gravity low coincides with a large granitic intrusion mapped in the western Lorrain Township (see QIMC press release December 5, 2024). This gravity low anomaly is shown to extend westward into Lake Temiskaming and potentially marks the location of thick Paleozoic cover, which is a positive indication for deeper natural hydrogen resource potential.

This option and collaborative venture also strengthens Record's strategic relationship with QIMC, a leader in hydrogen exploration. QIMC will join Record as a partner, bringing its advanced methodologies and expertise to the relationship. This positions both companies to capitalize on the region's unique geological features and accelerate hydrogen exploration and extraction in the Temiskaming hydrogen camp.

Record Resources, as the optionee will issue an aggregate of 9,000,000 common shares to a group of arm's length optionors, namely Gravel Ridge Resources Ltd., 1544230 Ontario Inc., 0761585 BC Ltd. and QIMC and make a cash payment of $90,000 payable in four instalments over a four-year period from closing (the "Option Agreement"). The optionee can close on the acquisition at any time by paying to the optionor the balance of the cash payments due. A 2% Gross Revenue Royalty (GRR) shall be granted from the sale of hydrogen or any other mineral product from the property. The optionor will own half of the two percent royalty and the other half will be owned by the other vendors. Record may purchase from the optionor, at its sole option, 50% of the GRR at any time for $2,000,000. The option agreement was signed on December 12, 2025. No finders fees were paid. The Option Agreement remains subject to the approval of the TSX Venture Exchange.

John Karagiannidis, CEO and Director of QIMC, stated: "We are thrilled to expand our partnership with Record Resources and contribute our proven hydrogen exploration methodologies and know-how to the Temiskaming hydrogen camp. This collaboration, alongside our recent agreement with DMED's extraction technology, underscores our shared commitment to unlocking the full potential of natural hydrogen resources. Together, we are laying the groundwork for Ontario to emerge alongside Quebec as cornerstones of the Canadian and North American hydrogen economy."

Michael Judson, CEO of Record Resources, added: "The option to acquire a key property is a transformative step for Record as we solidify our presence in the Temiskaming hydrogen camp. Our strengthened relationship with QIMC brings invaluable expertise and innovation to our operations. Together, we are committed to advancing hydrogen exploration and contributing to a sustainable energy future."

Please visit the company's website at www.recordgoldcorp.com for detailed location and geophysical maps related to the Lorrain-Bucke Property.

About Record Resources Inc.
Record Resources (TSXV: REC) is a Canadian exploration company. 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. [phone]

Website: www.recordgoldcorp.com

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V.REC | 2 hours ago
VANCOUVER, BC, Dec. 19, 2024 /CNW/ - Trading resumes in:

Company: Record Resources Inc.

TSX-Venture Symbol: REC

All Issues: Yes

Resumption (ET): 12:00

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Record Resources Updates Status of Beauchamp Hydrogen Property Acquisition
V.REC | 1 day ago
Calgary, Alberta--(Newsfile Corp. - December 18, 2024) - Record Resources Inc. (TSXV: REC) announces that it is actively working with the TSX Venture Exchange to address supplementary information requests regarding the final agreement. This collaborative process underscores Record's commitment to transparency and its focus on maintaining the highest standards of corporate governance.

As initially disclosed on November 21, 2024, Record Resources entered into an arm's-length agreement with a private exploration company. The proposed terms provide Record with 100% ownership of the hydrogen claims in exchange for 12,500,000 shares issued at a price 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.

Record Resources thanks its stakeholders for their continued support and confidence as the company advances its initiatives.

For more information please contact:
Michael C. Judson, Chairman & CEO
Record Resources Inc.
T. [phone]
Website: www.recordgoldcorp.com

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This could be good

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VANCOUVER, BC, Dec. 12, 2024 /CNW/ - The following issues have been halted by CIRO

Company: Record Resources Inc.

TSX-Venture Symbol: REC

All Issues: Yes

Reason: At the request of the Listing Exchange

Halt Time (ET): 4:45 pm

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NEWS: TSXV: REC...Record Resources Increases Size of Total Financing and Files Amended LIFE Offering Document
November 28, 2024
Calgary, Alberta--(Newsfile Corp. - November 28, 2024) - Record Resources Inc. (TSXV: REC) reports that the company is increasing the total size of its financing it is presently undertaking via a LIFE offering by adding a separate private placement.

Under the terms of the newly announced private placement, the company is offering up to 5,000,000 Units. Each Unit consists of a $0.03 common share and one-half of one share purchase warrant exercisable at a price of $0.05 per share for a period of 36 months. The private placement is expected to raise gross proceeds of up to $150,000.

As previously reported in its November 21, 2024 news release, the company is raising $330,000 through a LIFE Offering. Combined with the new private placement, the company will raise up to an aggregate of $480,00 through the issuance of 16,000,000 units assuming the completion of the LIFE Offering and the private placement in the maximum amount of $150,000.

The company intends to use the net proceeds from the Offering for exploration and evaluation of the company's properties, including the newly acquired Beauchamp Property, and for general working capital.

The company also reports that it has filed today an amended and restated offering document regarding its LIFE Offering. The original closing date of on or around November 29, 2024 has been extended to become on or around December 30, 2024. On November 8, 2024, Record entered into a loan agreement, which was amended and restated as of November 27, 2024, with Trading Bay Oil & Gas LLC, Anchorage, Alaska. Trading Bay agreed to provide the company with a loan facility in the amount of C$550,000. As yet, Record has not drawn down on this facility. Trading Bay is owned Paul Craig, a director and shareholder of Record Resources Inc. Any drawdown under the loan agreement would be considered a related party transaction within the meaning of Multilateral Instrument 61-101 - Protection of Minority Security Holders in Special Transactions ("MI 61-101"). The related party transaction will however be exempt from the formal valuation and minority approval requirements pursuant to the exemptions contained in Sections 5.5(a) and 5.7(1)(a) of MI 61-101, as neither the fair market value of the subject matter of, nor the fair market value of the consideration for, the transaction, insofar as it involves interested parties, exceeds 25% of Record's market capitalization.

The amended and restated offering document related to the Offering can be accessed under the Company's profile at www.sedarplus.ca and on the Company's website at: www.recordgoldcorp.com. Prospective investors should read this amended and restated offering document before making an investment decision.

In connection with the new private placement, the company may pay finder's fees and issue finder shares and finder warrants to EMD Financial Inc. as well as any other registrants participating in the Offering, consisting of: (i) cash finder's fees of up to 8% of the gross proceeds of the private placement; (ii) finder shares in an amount equal to up to 4% of the number of Units issued pursuant to the private placement; and (iii) finder warrants in an amount equal to up to 4% of the number of Units issued pursuant to the private placement, exercisable at a price of $0.05 per common share for a period of 36 months following the closing of the private placement.

Both the LIFE Offering and the Private Placement, are expected to close on or before December 30, 2024, however the company may close the LIFE Offering beforehand. Completion of the Offering is subject to certain conditions including the receipt of all necessary approvals, including the approval of the TSX Venture Exchange.

For more information please contact:
Michael C. Judson, Chairman & CEO
Record Resources Inc.
T. [phone]
Website: www.recordgoldcorp.com

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With record numbers reviewing this board I find it is the only way to get info

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Record Resources Inc V.REC
Record Resources Inc. is a Canadian lithium and gold exploration company. The Company focuses on acquiring and developing its lithium, uranium and gold properties. Its properties include Whitemud River and Rope Lake Lithium Properties; Doran Lithium Property; Grenfell Gold Exploration Property; 4 Nations Gold Exploration Property; Kenogami East Gold Exploration Property, and Amikougami + Otto Gold Exploration Property. The Whitemud River lithium prospect consists of 111 claims and 200 km east of Red Lake and approximately 125 km northeast of Sioux Lookout. It also has an option agreement to acquire a 100 % interest in the Doran Lithium Property, located 60 km east of the Root Lake Lithium Project. Its Grenfell Gold Exploration Property is in Grenfell Township. It has also optioned a uranium property in western Ontario consisting of 10 claims. It also has an option agreement to acquire Malborne property, La Sarre Copper Property, and 27 mineral claims in the Timiskaming area of Ontario.
$0.030

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V.REC...Record Resources Acquires Potential Ontario Western Extension of QIMC Hydrogen Discovery and Announces LIFE Offering of Units
V.REC | 2 hours ago
Calgary, Alberta--(Newsfile Corp. - November 21, 2024) - Record Resources Inc. (TSXV: REC) is pleased to announce the acquisition of 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.

"This acquisition marks an exciting chapter for Record Resources as we expand our portfolio into natural renewable hydrogen exploration," said Michael Judson, CEO of Record Resources. "The unique geological setting, combined with compelling geophysical data, highlights the potential of this extension to unlock new sources of clean energy and natural renewable hydrogen. We are eager to advance exploration efforts to better understand and develop this."

What follows is from a report by VP Exploration, Edward Procyshyn:

"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."

"Exploration for hydrogen-bearing gas pools have yet to be undertaken on the Beauchamp property. Temiskaming rift faults and earlier crustal faults controlling the emplacement of Nipissing intrusions certainly extend deep into the crust below cover Proterozoic and Paleozoic sediments to tap hydrologic fluid flow in the Archean basement rocks and even magma pools in the upper mantle - conditions very favourable for generating hydrogen gas."

The presence of broad shallow-dipping low conductive areas at deeper levels may reflect more a highly conducting sedimentary layer but these responses may also indicate a layer containing a trapped hydorgenic gas pool."

"Both faults extend to the southeast. The Lake Timiskaming Westshore (LTW) fault enters Lake Timiskaming at New Liskeard and runs along the west shore of Lake Timiskaming; the Cross lake fault parallels the LTW fault to cut the northwest corner of Record Resources Paradis Bay property and extends into Lake Timiskaming."

"The Beauchamp property is located at the northeast extent of the Cobalt Embayment, a large craton sedimentary basin consisting of shallowly dipping sedimentary rocks intruded by mafic Nipissing diabase sills and dikes and locally by felsic to intermediate granite, granodiorite and diorite."

"The depth from surface to the unconformable basement contact based on geophysical data may be up to 1000 metres below surface. The basement rocks are exposed at the northern margin property and locally occur within the basin as uplifted inlier along cross cutting faults. "

"In 2018 Geotech Ltd. undertook on behalf of Meteoric Resources a detailed VTEM Plus and horizontal magnetic Gradiometer geophysical survey of the Beauchamp Property (Project GL180230, OGS assessment report 3649)."

"The processed VTEM survey results were presented in terms of calculated parameters that estimate electric conductance of the underlying geological units and the presence of highly conductive zones."

"Combined with magnetic horizontal gradient maps it was possible to estimate the depth of the conductive zones and to identify their geometry, orientation, size and the estimated burial depths of the conductors. The preliminary calculation shown on the maps have interesting features that can only partially be correlated with known geological observation."

"The short north-south induced magnetic field parallel topographic features have been recognized locally as faults. These short linear features, however, could also indicate hydrologic channels that would produce the same electromagnetic response. "

"The Beauchamp transaction follows on the heels of the company's first acquisition in the hydrogen space. On October 29, 2023, Record reported that it had acquired a 100 percent interest in 27 mineral claims in Ontario. The claims, known as the Paradis Bay claims, are located five kilometres west of the town of Ville Marie, Quebec, near the claims held by QIMC and border the town of Paradis Bay, Ontario."

Exploration activities are expected to commence in 2025, including advanced geophysical analysis and field studies to further evaluate the potential for hydrogen generation and migration within the extension.

Please visit our company website for location and geophysical maps relating to the Beauchamp Property: www.recordgoldcorp.com.

Contemporaneous with the Beauchamp transaction, Record Resources is undertaking a non-brokered private placement of up to 11,000,000 units (the "Units") at a price of $0.03 per Unit for gross proceeds of up to $330,000 (the "Offering"). The Offering has been structured to take advantage of the listed issuer financing exemption (LIFE) whereby securities of the Company issued pursuant to the Offering will be freely tradeable equity securities not subject to any hold period (see below).

Each Unit consists of one common share and one half-share purchase warrant of the company. Each whole warrant is exercisable at a price of $0.05 per share for a period of 36 months following the closing of the Offering. The Company intends to use the net proceeds from the Offering for exploration and evaluation of the Company's properties, including the newly acquired Beauchamp Property, and for general working capital.

Subject to compliance with applicable regulatory requirements and in accordance with National Instrument 45-106 - Prospectus Exemptions ("NI 45-106"), the Offering is being made to purchasers resident in each of the Provinces of Canada pursuant to the listed issuer financing exemption under Part 5A of NI 45-106 (the "Exemption"). The securities offered under the Exemption will not be subject to a hold period in accordance with applicable Canadian securities laws. There is an offering document (the "Offering Document") related to the Offering that can be accessed under the Company's profile at www.sedarplus.ca and on the Company's website at: www.recordgoldcorp.com. Prospective investors should read this Offering Document before making an investment decision.

In connection with the Offering, the Company may pay finder's fees and issue finder shares and finder warrants to EMD Financial Inc. as well as any other registrants participating in the Offering, consisting of: (i) cash finder's fees of up to 8% of the gross proceeds of the Offering; (ii) finder shares in an amount equal to up to 4% of the number of Units issued pursuant to the Offering; and (iii) finder warrants in an amount equal to up to 4% of the number of Units issued pursuant to the Offering, exercisable at a price of $0.05 per common share for a period of 36 months following the closing of the Offering.

The Offering is scheduled to close on or about November 22, 2024. Completion of the Offering is subject to certain conditions including the receipt of all necessary approvals, including the approval of the Canadian Securities Exchange.

The company reports that, following this acquisition and financing, it will have 99,925,382 shares outstanding. Both, the financing and acquisition transaction are subject to TSX Venture Exchange, regulatory and board approvals.

The Beauchamp claims are being acquired in an arms-length transaction from a private exploration company. In return for a 100 percent interest in the hydrogen claims, the vendor will receive $39,000 in cash and 12,500,000 shares of Record Resources at an issue price of $0.03 per share. The vendor holds a two percent gross revenue royalty agreement on the property. Half of the gross revenue royalty can be purchased by Record Resources by paying $2 million.

The company's shares are presently trading at $0.03 per share giving them a present aggregate value of $375,000. No finder's fee was paid in this property acquisition transaction. The agreement was signed on November 19, 2024.

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. [phone]
Website: www.recordgoldcorp.com