Thermogenic Hydrogen Potential Confirmed at Edmund-Collier

• Highly encouraging Total Organic Carbon (TOC) values from organic-rich shale units
• Thermal maturity analysis indicates optimal conditions for thermogenic hydrogen generation
• Potential for basin-scale natural hydrogen generation from overmature shales

Constellation Resources Limited has received initial results for Total Organic Carbon (TOC) and Thermal Maturity (TM) analysis of shale samples from its Edmund-Collier Natural Hydrogen Project. The results have confirmed that basin-wide shale units are organic-rich and prospective for thermogenic hydrogen generation. The TOC values from the first batch of three out of eleven diamond drillholes ranged from 0.91% to 10.10%, with averages of 3.59%, 3.08%, and 5.76% respectively. TM analysis using vitrinite reflectance equivalent indicates the organic-rich units are overmature, within the optimal temperature range of 250°C to 500°C for thermogenic hydrogen generation. The Edmund-Collier Project presents a significant basin-scale opportunity to explore for natural hydrogen, with the organic-rich shale units extending over an area of 300km east-west and 40km north-south. The Company is also investigating the potential for additional hydrogen and helium generation from radiogenic Paleoproterozoic granites underlying the basin. Global hydrogen demand is expected to grow fivefold by 2050, and the search for zero-carbon hydrogen sources is gathering momentum worldwide.

The Company plans to undertake a soil gas survey across its entire portfolio to directly detect the potential presence of targeted gases in the coming months.