RCS - Pulsar Helium Inc. - Pulsar Completes Key Site Improvements Topaz

Pulsar HeliumAnnouncement

04/11/2024 07:00

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RNS Number : 7159K  Pulsar Helium Inc.  04 November 2024

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NEWS RELEASE | NOVEMBER 4, 2024 | CASCAIS, PORTUGAL

PULSAR HELIUM COMPLETES KEY SITE IMPROVEMENTS AT TOPAZ PROJECT, SETTING STAGE
FOR NEXT PHASE OF DRILLING

Pulsar Helium Inc. (AIM: PLSR, TSXV: PLSR, OTCQB: PSRHF) ("Pulsar" or the
"Company"), the helium project development company, is pleased to provide an
operational update on the Topaz Project in Minnesota ("Topaz" or the
"Project"), where site improvements have now been completed, paving the way
for a step forward in the Company's helium exploration and production
strategy.

With the recent upgrades to site access, roadways, and drill pad setup, Pulsar
is on track to deepen the Jetstream #1 well to further explore and unlock the
resource potential at Topaz, marking a pivotal step forward in its strategy to
address the growing global demand for helium.

OPERATIONAL HIGHLIGHTS

•              New Drilling Contract Signed: Following the
announcement on 1 October 2024, Pulsar will partner with Capstar Drilling to
deepen the Jetstream #1 well by approximately 500 metres to reach the
anticipated full height of the helium reservoir.

•               Roadway Enhancements: Sections of the Project's main
access road have been modified for all weather access to support operational
traffic for year-round operations. This roadwork completion allows for the
mobilisation of the Capstar drill rig in non-frozen conditions. Further access
improvements are scheduled to take place in late November, in anticipation of
increased traffic levels during the winter operational period.

•              Drill Pad Ready: The Jetstream #1 drill pad is fully
prepared and ready to accept the drilling rig and ancillary equipment which is
anticipated to begin arriving to site during the first week of December.

Advancing Helium Production Potential

The Topaz Project, located in Minnesota, USA, is Pulsar's flagship project and
a cornerstone in its strategy to boost helium supply to the domestic market.
One well has been drilled to date with additional deeper targets identified on
recently acquired geophysical data. The deepening of the Jetstream #1 well is
poised to identify further high-grade helium.

With all relevant permits for the Jetstream #1 well deepening in place, Pulsar
is on target to commence drilling operations this quarter, positioning Topaz
to play a transformative role in the global helium landscape.

Thomas Abraham-James, President & CEO of Pulsar, commented:

"Deepening Jetstream #1 is an exciting step forward for Pulsar. Our team has
worked tirelessly to progress operations at Topaz, so we can fully understand
its scale. Only one well has been drilled within the prospect, which has not
yet met target depth, but has flowed concentrations that are considered very
high by global standards, significantly surpassing the commonly accepted
economic viability threshold. During the deeper drilling phase, we hope to
build on this, and unlock a helium resource of size and quality, to advance
our goal to become a premier helium supplier.

"This next drilling phase offers an unprecedented opportunity to unlock the
district-scale opportunity offered by Topaz. We've seen other projects achieve
significant gains in resource size and flow rates through similar deepening
efforts, and combined with our data, and our existing high concentration
credentials, we believe Jetstream #1 can stand as a top-tier helium production
site worldwide."

Strategic Advantages of High-Grade Helium

Topaz's high-grade helium concentrations enable Pulsar to maintain resilience
in the face of market fluctuations, as higher-concentration deposits require
less overall volume of raw gas to be processed for economically viable
production. This focus on efficiency enhances profitability and solidifies
Pulsar's competitive edge within a volatile market.

Further Information:

Pulsar Helium Inc.

connect@pulsarhelium.com (mailto:connect@pulsarhelium.com)

+ 1 (604) 599-0310

Strand Hanson Limited

(Nominated & Financial Adviser and Joint Broker)

Ritchie Balmer / Rob Patrick / Richard Johnson

+44 (0) 207 409 3494

OAK Securities*

(Joint Broker)

Jerry Keen (Corporate Broking) / Henry Clarke (Institutional Sales) / Dillon
Anadkat (Corporate Advisory)

info@OAK-securities.com (mailto:info@OAK-securities.com)

+44 203 973 3678

BlytheRay Ltd

(Financial PR)

Megan Ray / Said Izagaren

+44 207 138 3204
 

pulsarhelium@blytheray.com (mailto:pulsarhelium@blytheray.com)

*OAK Securities is the trading name of Merlin Partners LLP, a firm
incorporated in the United Kingdom and regulated by the UK Financial Conduct
Authority.

About Pulsar Helium Inc.

Pulsar Helium Inc. is a publicly traded company quoted on the AIM market of
the London Stock Exchange and the TSX Venture Exchange with the ticker PLSR,
as well as on the OTCQB with the ticker PSRHF. Pulsar's portfolio consists of
its flagship Topaz helium project in Minnesota, USA, and the Tunu helium
project in Greenland. Pulsar is the first mover in both locations with primary
helium occurrences not associated with the production of hydrocarbons
identified at each. For further information visit https://pulsarhelium.com
(https://pulsarhelium.com) ,  X https://x.com/pulsarhelium
(https://x.com/pulsarhelium) and LinkedIn
https://ca.linkedin.com/company/pulsar-helium-inc
(https://ca.linkedin.com/company/pulsar-helium-inc) .

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that
term is defined in the policies of the TSX Venture Exchange) accepts
responsibility for the adequacy or accuracy of this release.

Forward-Looking Statements

This news release and the interview contains forward-looking information
within the meaning of Canadian securities legislation (collectively,
"forward-looking statements") that relate to the Company's current
expectations and views of future events. Any statements that express, or
involve discussions as to, expectations, beliefs, plans, objectives,
assumptions or future events or performance (often, but not always, through
the use of words or phrases such as "will likely result", "are expected to",
"expects", "will continue", "is anticipated", "anticipates", "believes",
"estimated", "intends", "plans", "forecast", "projection", "strategy",
"objective" and "outlook") are not historical facts and may be forward-looking
statements. Forward-looking statements herein include, but are not limited to,
statements relating to the results of drilling, results of an updated
independent resource estimate for helium and CO2 at Topaz; the results of a
preliminary economic assessment; the estimated Geological Chance of Success
for the Prospective Resources and the Chance of Commerciality of Topaz; the
potential impact of deepening Jetstream #1 and the potential impact of such
deepening on the next iteration of the resource estimate;  the expected
timing to commence drilling; and the potential for future wells.
Forward-looking statements may involve estimates and are based upon
assumptions made by management of the Company, including, but not limited to,
the Company's capital cost estimates, management's expectations regarding the
availability of capital to fund the Company's future capital and operating
requirements and the ability to obtain all requisite regulatory approvals.

No reserves have been assigned in connection with the Company's property
interests to date, given their early stage of development. The future value of
the Company is therefore dependent on the success or otherwise of its
activities, which are principally directed toward the future exploration,
appraisal and development of its assets, and potential acquisition of property
interests in the future. Un-risked Contingent and Prospective Helium Volumes
have been defined at the Topaz Project. However, estimating helium volumes is
subject to significant uncertainties associated with technical data and the
interpretation of that data, future commodity prices, and development and
operating costs. There can be no guarantee that the Company will successfully
convert its helium volume to reserves and produce that estimated volume.
Estimates may alter significantly or become more uncertain when new
information becomes available due to, for example, additional drilling or
production tests over the life of field. As estimates change, development and
production plans may also vary. Downward revision of helium volume estimates
may adversely affect the Company's operational or financial performance.

Helium volume estimates are expressions of judgement based on knowledge,
experience and industry practice. These estimates are imprecise and depend to
some extent on interpretations, which may ultimately prove to be inaccurate
and require adjustment or, even if valid when originally calculated, may alter
significantly when new information or techniques become available. As further
information becomes available through additional drilling and analysis the
estimates are likely to change. Any adjustments to volume could affect the
Company's exploration and development plans which may, in turn, affect the
Company's performance. The process of estimating helium resources is complex
and requires significant decisions and assumptions to be made in evaluating
the reliability of available geological, geophysical, engineering, and
economic date for each property. Different engineers may make different
estimates of resources, cash flows, or other variables based on the same
available data.

Forward-looking statements are subject to a number of risks and uncertainties,
many of which are beyond the Company's control, which could cause actual
results and events to differ materially from those that are disclosed in or
implied by such forward- looking statements. Such risks and uncertainties
include, but are not limited to, that Pulsar may be unsuccessful in drilling
commercially productive wells; the uncertainty of resource estimation;
operational risks in conducting exploration, including that drill costs may be
higher than estimates and the potential for delays in the commencement of
drilling; commodity prices; health, safety and environmental factors; and
other factors set forth above as well as under "Cautionary Note Regarding
Forward Looking Statements and Market and Industry Data" and "Risk Factors" in
the AIM Admission Document published on October 14, 2024 found on the
Company's web site at
https://pulsarhelium.com/investors/aim-rule-26/default.aspx. Forward-looking
statements contained in this news release are as of the date of this news
release, and the Company undertakes no obligation to update or revise any
forward-looking statements, whether as a result of new information, future
events or otherwise, except as may be required by law. New factors emerge from
time to time, and it is not possible for the Company to predict all of them or
assess the impact of each such factor or the extent to which any factor, or
combination of factors, may cause results to differ materially from those
contained in any forward-looking statement. No assurance can be given that the
forward-looking statements herein will prove to be correct and, accordingly,
investors should not place undue reliance on forward-looking statements. Any
forward-looking statements contained in this news release and interview are
expressly qualified in their entirety by this cautionary statement.

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