Triple Point Resources Advances Fischells Salt Dome Project Toward Registration

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.

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