Makenita Resources has entered into an option agreement to acquire the 45,967-acre Cobequid-Chedabucto Hydrogen Project in Nova Scotia, significantly expanding the Canadian exploration company’s portfolio with a district-scale property prospective for natural hydrogen.
The project consists of 1,149 claim units covering 45,967 acres and directly borders properties held by Koloma and Quebec Innovative Materials Corp., or QIMC, two companies active in hydrogen exploration in the region.
Makenita said Nova Scotia has emerged as an increasingly active area for natural hydrogen exploration, attracting companies including Koloma and Rio Tinto.
The transaction gives Makenita exposure to that emerging exploration market while complementing its existing portfolio of hydrogen-related, iron-magnetite, tungsten, rare earth and other critical mineral properties across Canada.
Under the option agreement, Makenita will initially pay the arm’s-length vendor $11,490 in cash within seven business days of signing.
The company will also issue 3 million common shares and 2.25 million transferable share purchase warrants as part of the initial consideration.
Each warrant will be exercisable at $0.30 per share for three years following issuance.
Within four months of signing the agreement, Makenita will issue another 500,000 common shares and 375,000 warrants carrying the same $0.30 exercise price and three-year term.
An additional 500,000 shares and 375,000 warrants will be issued within eight months.
In total, the acquisition terms call for Makenita to issue 4 million common shares and 3 million warrants, in addition to the initial cash payment.
Makenita must also complete at least $150,000 of work expenditures on the project during the first year following execution of the option agreement.
The transaction remains subject to regulatory approvals, and securities issued under the agreement will carry a standard four-month-and-one-day hold period.
The acquisition would substantially expand Makenita’s land position across several commodities that have attracted increasing interest because of energy security, electrification and critical mineral demand.
The Cobequid-Chedabucto property will become part of a portfolio that already includes Makenita’s 102,110-contiguous-acre Serpentinization Iron-Magnetite Project in Saskatchewan.
That project borders property held by Max Power Mining Corp.
Makenita also controls the recently expanded 22,665-acre Sisson West Tungsten Project in New Brunswick, which directly borders Northcliff Resources’ Sisson Tungsten Mine.
The company has additional exploration exposure through its approximately 9,000-acre NTX Rare Earth Project in Quebec and the 5,542-acre Hector Project near Cobalt, Ontario.
Hector is prospective for cobalt, silver and diamonds.
Makenita’s expansion into Nova Scotia hydrogen exploration reflects growing interest in naturally occurring, or geologic, hydrogen.
Unlike hydrogen manufactured through industrial processes, natural hydrogen can be generated underground through geological reactions. Exploration companies are investigating whether economically recoverable accumulations can be discovered and developed in different geological settings.
However, natural hydrogen exploration remains an emerging field, and the presence of neighboring exploration projects or discoveries does not establish that Makenita’s property contains economically recoverable hydrogen.
The company specifically cautioned that exploration results or discoveries on surrounding properties should not be interpreted as evidence of mineralization or hydrogen resources on the Cobequid-Chedabucto property.
QIMC, which borders the new Makenita project, has reported hydrogen exploration results in Nova Scotia during 2026.
Makenita sees that regional activity as supporting further exploration of its newly optioned acreage, although the company will need to undertake its own exploration program to determine the property’s potential.
The minimum $150,000 first-year exploration commitment represents the initial step in evaluating the large land package.
Makenita has not yet disclosed a detailed exploration program, drilling schedule or resource estimate for Cobequid-Chedabucto.
The technical information contained in the company’s announcement was reviewed and approved by Frank Bain, PGeo, who serves as a qualified person under Canada’s National Instrument 43-101 disclosure requirements.
The addition of Cobequid-Chedabucto gives Makenita another large exploration position while diversifying the company across several commodities and emerging resource themes.
Management plans to remain active through the remainder of 2026 as it advances its Nova Scotia hydrogen property alongside its Saskatchewan iron-magnetite, New Brunswick tungsten, Quebec rare earth and Ontario exploration projects.
KEY QUOTES:
“This is a tremendous opportunity to acquire a district size project prospective for hydrogen. Nova Scotia has emerged as one of the hotbeds for hydrogen exploration recently, attracting such large players as Koloma, whom this new project directly borders, and Rio Tinto. QIMC, which also directly borders this new project, has had positive results for hydrogen this year. When you couple this district sized hydrogen project with Makenita’s 102,110-contiguous-acre ‘Serpentinization Iron-Magnetite Project’ in Saskatchewan bordering Max Power Mining Corp. and our newly expanded 22,665 contiguous acres, directly bordering Northcliff Resources Ltd.’s Sisson Tungsten Mine, it is clear we are building our asset base and plan to be extremely active in the near and medium term. When you factor in our tight share structure with a steady news flow, management is very optimistic about the remainder of 2026.”
Jason Gigliotti, President of Makenita Resources
