St. John's, Newfoundland--(Newsfile Corp. - October 6, 2025) - Triple Point Resources Ltd. ("Triple Point") has selected WSP in Canada (WSP), one of the world's leading professional services firms, to lead the feasibility study for the Fischells Salt Dome. The study, scheduled for completion by mid-December 2025, is designed to ensure Newfoundland and Labrador's renewable energy is captured, stored and delivered for when it is needed most, creating a clean energy reserve for the province.

The feasibility study marks the next phase of development for the Fischells Salt Dome, advancing toward environmental assessment and long-term partnerships that will secure Newfoundland and Labrador's position as a clean energy leader in Canada and beyond.

Triple Point selected WSP for its global leadership in underground energy storage and proven track record in delivering complex, first-of-their-kind projects. WSP has played a central role in the development of hydrogen production and storage facilities, demonstrating how salt caverns can anchor reliable, utility-scale clean energy reserves.

"By partnering with WSP, we are showing how Newfoundland and Labrador can lead the way in turning renewable energy into reliable, on-demand power. With WSP's deep presence in the province, this study will be built not only on global expertise but also on local leadership. Together, we're making sure no clean energy is wasted and creating a reserve that will serve industries, communities and future generations," said Julie Lemieux, CEO of Triple Point.

Equally important, WSP brings a deep local presence. With Newfoundlander Beverly Pilling, Market Lead — Hydrogen, overseeing this study, the feasibility work at Fischells will reflect both world-class innovation and the values of the province's communities. This approach ensures the project advances efficiently, turning surplus wind and hydro into reliable, on-demand power.

"We're proud to bring lessons learned from similar projects to Newfoundland. The Fischells Salt Dome is an opportunity to transform abundant wind into reliable, export-ready energy while working closely with communities every step of the way," said Rehan Wasti, Executive Vice President, Energy, Resources and Industry, WSP in Canada.

Project Significance:

The study will advance development of large-scale Compressed Air Energy Storage (CAES) in salt cavern at Fischells, capturing surplus wind and hydro energy and storing it for use when demand is highest. The site is strategically located 30 km south of Stephenville, beneath the Trans-Canada Highway and along major transmission infrastructure.

Benefits include:

• Capturing surplus renewable energy and making it available on demand.
• Providing firm, zero-emission capacity to stabilize the provincial grid.
• Creating an Atlantic clean energy reserve for local needs and export markets.
• Delivering long-term economic benefits and jobs for Newfoundland communities.

Triple Point is committed to building long-term partnerships across industry, government and Indigenous communities to ensure the Fischells Salt Dome becomes a national asset that supports clean energy integration, energy security, and economic development.

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 storage using hydrogen and compressed air energy storage (CAES) technologies to support renewable energy integration, stabilize the grid, and build Canada's clean energy backbone on the East Coast.

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