Phased development model supports jobs, salt commercialization and future energy storage potential

St. John's, Newfoundland--(Newsfile Corp. - April 21, 2026) - Triple Point Resources Ltd. ("Triple Point" or the "Company") is advancing its Fischells Salt Dome Energy project in western Newfoundland and is preparing to register the project with the province in the coming weeks.

Triple Point has completed the feasibility stage for the current project scope, which includes both salt cavern creation and a proposed compressed air energy storage (CAES) development. This work was completed with support from WSP, Siemens Energy, TerraRocks Industries and other project partners. Additional design work is expected in the coming weeks as the Company continues refining the commercial path forward.

Recent milestones include:

• Completion of feasibility work for the current project scope

• Continued design advancement with project partners

• More than $1 million in Genome Atlantic-supported salt cavern research involving the University of Calgary, Memorial University of Newfoundland and Triple Point

• Preparation for provincial registration

• Community information sessions held in St. George's, McKay's and Flat Bay, with approximately 150 attendees across three evenings

The Project is being advanced in phases. The first phase is focused on creating underground caverns within the salt structure. This phase is expected to create opportunities to commercialize high-quality salt for uses such as ice melt, de-icing and industrial markets, while supporting regional job creation.

Those same caverns are also expected to support future energy storage at the site through compressed air energy storage (CAES). CAES uses electricity to compress air and store it underground, then releases that air later to generate power when demand is highest. This can help capture surplus electricity and return it to the grid when it is needed most.

Fischells combines rare salt geology with a strategic location near renewable energy resources, the provincial grid and the Maritime Link corridor, which crosses the property. As more renewable energy is added to the grid, storage becomes increasingly important to support a stronger, more flexible and more reliable electricity system in Newfoundland and Labrador.

"We were encouraged by the turnout and the quality of conversation at each of the community information sessions," said Julie Lemieux, Chief Executive Officer of Triple Point Resources. "People came engaged, informed and ready to share their views. That input is helping shape the project, and we look forward to continued public participation during the 35-day comment period once our Environmental Assessment registration is submitted."

Based on the current project scope, Triple Point estimates the Project could support up to 800 jobs during construction and approximately 70 permanent jobs during operations, with a project life expected to exceed 50 years.

About Triple Point Resources Ltd.
Triple Point Resources owns the Fischells Salt Dome mineral rights and 226 sq. km of mineral licenses on the west coast of Newfoundland. The dome is strategically located beneath the Trans-Canada Highway, 10 km from the coast, and intersected by the Maritime Link. Triple Point is developing large-scale underground salt cavern to support energy integration, stabilize the grid, and build Canada's clean energy backbone on the East Coast.

Forward-Looking Statements

Certain information contained herein constitutes forward-looking information or statements ("forward looking statements") under applicable securities legislation and rules. Generally, forward-looking information can be identified by the use of forward-looking terminology such as "will be", or variations of such words and phrases or statements that certain actions, events or results "will" occur. All statements within, other than statements of historical fact, are to be considered forward-looking. Such statements include that the Company's sale dome assets are suitable for and can be commercially utilized for hydrogen storage, that demand for such storage will in the future exist at commercially viable levels, that expected capacity can be achieved and that the Company will be successful in developing such project with the support of all stakeholders. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in forward-looking statements. There can be no assurances that such statements will prove accurate and, therefore, readers are advised to rely on their own evaluation of such uncertainties. We do not assume any obligation to update any forward-looking statements except as required under the applicable l

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