Triple Point Resources Registers Fischells Salt Dome Power Generation Project for Environmental Assessment

13:00 Uhr  |  Newsfile

Registration covers proposed salt cavern development, compressed air energy storage and associated infrastructure in Western Newfoundland

St. John's, Newfoundland--(Newsfile Corp. - June 16, 2026) - Triple Point Resources Ltd. ("Triple Point" or the "Company") has officially registered its proposed Fischells Salt Dome Power Generation Project with the Government of Newfoundland and Labrador, marking the beginning of the provincial environmental assessment process for the Project.

The registration outlines the proposed development of the Fischells Salt Dome in Bay St. George as a long-duration underground energy storage asset, including plans related to compressed air energy storage (CAES), salt cavern development and associated infrastructure.

"This is an important milestone for our Project and for the continued conversation around energy reliability, storage and future infrastructure in Newfoundland and Labrador," said Julie Lemieux, CEO of Triple Point Resources. "The Fischells Salt Dome Power Generation Project is being advanced as enabling grid infrastructure that can help stabilize the system, make better use of the grid we have today, support greater wind integration, and create the flexibility needed for future industrial growth. We encourage everyone with an interest in the Project to review the registration materials and provide their views to Government during the public review period."

The Registration document provides a description of the Project and its existing environmental setting, describes Triple Point's public, stakeholder and Indigenous engagement activities to date, and identifies the Project's potential environmental effects and planned approaches for addressing these in Project design and eventual implementation, including on-going engagement and cooperation with local communities and organizations.

The registration follows several years of geological analysis, engineering studies, environmental planning and engagement activities related to the Fischells Salt Dome. which Triple Point believes has the potential to become a strategic underground energy storage asset for Atlantic Canada.

All interested parties now have an opportunity to review the registration documents and submit comments to the provincial government during the public review period. This input will help inform government's eventual decision on whether the Project may proceed, subject to any terms and conditions and other applicable legislation, or whether further review is required.

The proposed Project is centred around the Fischells Salt Dome in Bay St. George, Newfoundland and Labrador, the largest proven salt dome on the eastern seaboard of North America. The dome's geology and strategic location create an opportunity for large-scale underground energy storage to support grid reliability, renewable energy integration and future industrial development.

More information about the environmental assessment process, including public notices and the registration document, is available from the Government of Newfoundland and Labrador's Department of Environment, Conservation and Climate Change at: https://www.gov.nl.ca/eccc/env-assessment/public-notices/

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About Triple Point Resources Ltd.
Triple Point Resources owns the Fischells Salt Dome mineral rights and 126 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 laws.

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