From Uranium to Hydrogen: Power One's Dual Bet on Ontario's Deep Potential

TORONTO, ON – December 02, 2025 – In the world of junior exploration, value is often found not just by drilling new holes, but by re-reading old stories. Power One Resources Corp. (TSXV: PWRO) is writing a compelling new chapter for a very old narrative, announcing today that a deep dive into historical records at its Pecors Property in Ontario has revealed significant hydrocarbon indicators, pointing toward a tantalizing new possibility: natural hydrogen.

This isn't just another geological update. It's a strategic pivot that places the company at the intersection of traditional mining and the burgeoning clean energy economy. By unearthing decades-old data from the height of the Elliot Lake uranium rush, Power One is positioning a legacy asset as a potential player in two distinct, high-stakes games: a polymetallic minerals play supercharged by a recent gold discovery, and a frontier exploration for 'white hydrogen,' the planet's naturally occurring zero-emission fuel.

For investors and analysts accustomed to single-commodity stories, Power One's dual-pathway approach at Pecors represents a complex but potentially lucrative proposition. It's a move that forces the market to weigh the tangible value of gold in the ground against the speculative, but immense, promise of a new energy source.

Unearthing New Value from Old Data

The Pecors Property lies within the Elliot Lake Uranium Belt, a district with a storied and complex past. From the 1950s to the 1980s, exploration here was a single-minded pursuit of uranium to fuel the Cold War and a growing nuclear energy sector. Geologists meticulously logged drill core, but their focus was narrow. Any geological curiosity not directly associated with uranium was often noted and just as quickly dismissed.

Power One's recent comprehensive evaluation of these archival drill logs has turned those historical footnotes into today's headlines. Reports of bitumen staining, hydrocarbon odours, and organic-rich residues, once considered geological noise, are now being interpreted as critical clues. In the context of modern geological science, these indicators suggest the presence of a deep, long-lived plumbing system—structural corridors capable of transporting not just metal-bearing fluids, but also the precursors to hydrocarbons and, potentially, natural hydrogen.

This re-evaluation strategy is a masterclass in extracting modern value from legacy assets. The very fractures and shear zones that once served as pathways for uranium mineralization are now seen as potential conduits and traps for energy resources. While the original explorers lacked the economic incentive and scientific framework to pursue these leads, Power One is applying a 21st-century lens to 20th-century data, transforming a known uranium asset into a multi-faceted exploration target.

The 'White Hydrogen' Frontier in Canada's Shield

The most forward-looking aspect of Power One's announcement is the focus on natural hydrogen. Dubbed 'white hydrogen' to distinguish it from manufactured 'grey' (from fossil fuels) or 'green' (from electrolysis) hydrogen, this naturally occurring gas is generated through geological processes within the Earth's crust. One key process is serpentinization, a reaction between water and iron-rich ultramafic rocks—a rock type present at Pecors.

Globally, the race to find and commercialize natural hydrogen is accelerating. With discoveries being made from the U.S. Midwest to Australia and France, it is viewed as a potential game-changer: a scalable, low-cost, zero-emission energy source that doesn't require the massive energy inputs of electrolysis. Power One's review has highlighted several key indicators at Pecors that align with the geological models for hydrogen systems: the aforementioned bitumen staining, the presence of serpentinized mafic and ultramafic units, and a massive 18-by-4-kilometer magnetic anomaly interpreted as a deep intrusive root zone ideal for fluid generation and accumulation.

This venture doesn't exist in a vacuum. The Canadian Precambrian Shield is increasingly seen as fertile ground for hydrogen exploration. Innovators like Max Power Mining are already advancing hydrogen-focused programs in Ontario and Québec, validating the geological thesis and building industry momentum. By highlighting similar geological ingredients at Pecors, Power One is effectively drafting behind these pioneers while potentially holding a uniquely advanced project.

As CEO Wazir Khan stated, "This is a frontier opportunity—Ontario could emerge as an unexpected participant in the global hydrogen discovery race, and Pecors may be one of the first projects to demonstrate that potential." This positions the project not just as a local mineral find, but as a potential contributor to a global energy transition.

A Dual-Play Strategy: Hedging Bets on Metals and Energy

What makes Power One's strategy particularly compelling for capital markets is that it is not an all-or-nothing bet on the speculative hydrogen prize. The company's polymetallic case was dramatically strengthened just last week with the announcement on November 26, 2025, of the first-ever gold discovery on the property. The news sent the company's stock soaring, with its share price jumping over 270% in a single day on high trading volume.

This discovery confirmed that the vast structural system at Pecors is rich in more than just historical uranium, with potential for gold, copper, and nickel. The market's powerful reaction underscores the tangible value investors place on precious metals, providing a firm foundation for the company's valuation. The gold zones coincide with the same structural corridors now being eyed for their hydrogen potential, reinforcing the concept of a single, massive geological system with dual resource pathways.

This dual-play strategy offers a unique risk-reward profile. The polymetallic potential, now proven with a gold discovery, provides a de-risked, conventional value proposition that is well understood by the market. The natural hydrogen angle, while much earlier stage and more speculative, offers a high-impact, blue-sky opportunity that could deliver exponential returns if proven. For investors, it's a structure that offers exposure to the stability of precious metals alongside the explosive potential of a disruptive new energy frontier.

Navigating the Path Forward: Opportunity and Obstacles

Despite the geological promise, the path forward for Power One is not without challenges. The regulatory framework for natural hydrogen exploration and production in Ontario, as in most of the world, is still in its infancy. While the province has a mature system for governing mineral exploration, pioneering a new energy resource class will require navigating an undefined and evolving legal landscape. Power One has signaled its awareness of this by commissioning a technical memo to summarize the evidence and study global analogues, a proactive step toward building the case for regulators.

Furthermore, any new development in the Elliot Lake region must contend with the area's environmental legacy from a half-century of uranium mining. While extensive decommissioning was completed decades ago, the history of radioactive tailings and waste rock creates a sensitive backdrop for any new resource project. Gaining social license and navigating the environmental assessment process will require transparent and rigorous engagement with local communities and First Nations.

The company is now focused on advancing both sides of its vision. It is reprocessing geophysical datasets and re-logging historical drill core to build a more sophisticated 3D model of the deep fluid pathways. This technical work will be crucial in prioritizing targets for future drilling programs that could test both the polymetallic and hydrogen potential simultaneously. The coming months will be critical as Power One attempts to translate historical clues and modern interpretation into concrete evidence of a new Canadian resource district.