REG - Pulsar Helium Inc. - Commencement of Plant Engineering Study

Pulsar HeliumAnnouncement

09/09/2025 07:00

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RNS Number : 4993Y  Pulsar Helium Inc.  09 September 2025

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NEWS RELEASE | SEPTEMBER 9, 2025 | CASCAIS, PORTUGAL

PULSAR HELIUM ANNOUNCES COMMENCEMENT OF PLANT ENGINEERING STUDY FOR HELIUM
PRODUCTION

Pulsar Helium Inc. (AIM: PLSR, TSXV: PLSR, OTCQB: PSRHF) ("Pulsar" or the
"Company"), a leading helium project development company, is pleased to
announce that it has signed a Limited Notice to Proceed (LNTP) with Chart
Industries, Inc. (NYSE: GTLS), marking a strategic milestone toward full
development of the Company's flagship Topaz helium project in Minnesota, USA.
This LNTP authorizes Chart to begin early engineering and procurement
activities for the planned helium recovery and CO₂ capture facility at
Topaz, building on the Letter of Intent (LOI) Pulsar signed with Chart's
subsidiary Earthly Labs in November 2024. The LNTP solidifies Chart's role as
a key partner in bringing the Topaz project to production and underscores
Pulsar's commitment to fast-track project development for the benefit of
shareholders and the growing helium market.

Highlights

•       Milestone Partnership: The LNTP with Chart Industries, a leading
global supplier of gas processing technology, initiates engineering work and
equipment procurement for Topaz's helium and CO₂ processing plant,
accelerating the project's timeline toward production. This step follows the
November 2024 LOI with Chart's Earthly Labs division and moves the
collaboration into the execution phase.

•             Strong Well Performance: Recent flow testing at
Topaz's Jetstream #1 well yielded a peak gas flow rate of approximately 1.3
million cubic feet per day (MMcf/d) under wellhead compression, with dry gas
and no formation water produced. These exceptional results confirm a clean
helium-rich gas stream and provide critical data to inform processing facility
design and sizing.

•       Advancing Plant Development: Under the LNTP, Chart will commence
detailed engineering and identification of key long-lead components for the
full-scale helium recovery and CO₂ capture plant. All work and payments
under this limited authorization will be credited toward the anticipated full
plant construction contract in 2026, when the final purchase and sale
agreement is expected to be executed. This ensures a seamless transition to
the main project build and mitigates schedule risk by securing equipment in
advance.

•             Path to Production: The LNTP bolsters Pulsar's
target of initiating helium production at Topaz by aligning critical project
development pieces, from subsurface confirmation to surface facilities. With
drilling of additional wells set to begin and Chart's processing technology
secured, Pulsar remains on track in its timeline that envisions a final
investment decision in 2026.

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

"We view this LNTP as a vote of confidence in the Topaz project's potential
and a crucial step toward production. By engaging Chart Industries, the gold
standard in gas processing equipment, at this early stage we can leverage
their engineering expertise and secure essential components ahead of our final
investment decision. This proactive approach builds on our November 2024
agreement with Chart's Earthly Labs division and puts us on an accelerated
path to realizing revenue from helium and industrial CO₂ sales at Topaz."

Details of the Limited Notice to Proceed

The LNTP issued to Chart Industries enables immediate action on the design and
procurement for the Topaz helium production facility. Specifically, Chart's
engineering team will now undertake detailed design work for an integrated
helium extraction and CO₂ liquefaction plant. Notably, the LNTP authorizes
Chart to place a deposit on a full carbon capture unit (Earthly Labs' CiCi
solution) to capture and liquefy co-produced CO₂ from the Topaz gas stream.
All investment expenditures under the LNTP advance funding of the definitive
construction contract. By proceeding with these critical items now, Pulsar is
de-risking the development schedule and laying the groundwork for full project
execution upon final contract award in 2026.

Jetstream #1 Delivers 1.3 MMcf/d in Helium Flor Test, Guiding Facility Design

Pulsar's decision to advance into the engineering phase with Chart is
underpinned by outstanding well results from the Topaz field. The Company
recently conducted extended flow tests on its Jetstream #1 appraisal well,
which confirmed high deliverability of helium-bearing gas. Using a wellhead
compressor, Jetstream #1 achieved a peak flow rate of approximately 1.3
million cubic feet per day. Importantly, the gas was dry with zero formation
water, indicating a simplified production stream and minimal need for
dehydration equipment. This clean flow stream, with helium concentrations
previously measured in the 8.7%-14.5% range, provides a valuable dataset for
facility planning. The absence of water and strong flow rates mean that the
planned processing facility can be optimally designed for helium separation
and liquefaction without significant concern for handling liquids, which in
turn can lower processing complexity and costs.

Chart's engineers will utilize the Jetstream #1 data, alongside results from a
second well (Jetstream #2), to refine the design specifications of the helium
plant and CO₂ capture system. Under the scope of the LNTP and the prior LOI,
Chart is tasked with performing production scenario modeling using these well
results. This modeling will guide final equipment selection, such as
compressors, cryogenic separation units, and CO₂ liquefiers, ensuring the
facility is appropriately sized to handle the reservoir's maximum output and
gas composition.

Paving the Way to Full-Scale Production

With the LNTP in place and well performance exceeding expectations, Pulsar
Helium is steadily advancing toward commercial production at Topaz. In
addition to surface facility progress, the Company has executed a multi-well
drilling contract to appraise the broader field, scheduling up to ten new core
wells starting in late September 2025. Insights from these wells will further
delineate the helium reservoir and support reserves estimation, complementing
the engineering design work underway. According to the Company's development
timeline, assuming the necessary financing is in place, a final investment
decision (FID) on the Topaz project is targeted in 2026, coinciding with the
execution of a full-scale construction and equipment purchase contract with
Chart.

The collaboration with Chart Industries through the LNTP offers Pulsar a head
start on critical path items as it moves toward these milestones. Chart's
involvement not only provides top-tier technical solutions for gas processing,
but also reduces the need for third-party engineering, thereby controlling
costs and expediting the schedule.

Marketing Engagement

GoldInvest Consulting GmbH ("GoldInvest") is a company headquartered in
Hamburg, Germany, dedicated to investor relation services. The cost of the
services is C$42,000, to be paid monthly at C$3,500 per month, for a
twelve-month term that will commence on September 8, 2025, the agreement
between GoldInvest and the Company does not automatically renew. GoldInvest
can be reached at 040-44-195-195 or redaktion@goldinvest.de
(mailto:redaktion@goldinvest.de) . GoldInvest and the Company are unrelated
and unaffiliated entities. GoldInvest will provide services to the Company
that include the production of editorials relating the Company's noteworthy
news updates, aggregation of in-house and external comments, articles,
interviews, research, and papers relating to the Company on GoldInvest's
website, and the publication of interviews and other videos about the Company
on GoldInvest's website and YouTube channel. GoldInvest currently holds 50,000
common shares and 50,000 warrants in the Company.

About the Topaz Project

The Topaz project is located in northern Minnesota, USA where Pulsar is the
first mover and holds exclusive leases. Drilling at the Jetstream #1 appraisal
well reached total depth ("TD") of 5,100 feet (1,555 metres) on January 11,
2025, successfully penetrating the entire interpreted helium-bearing reservoir
and beyond. The Jetstream #1 appraisal well previously reached TD of 2,200
feet (671 metres) on February 27, 2024, identifying top-tier helium
concentrations of up to 14.5%, well above the 0.3% widely accepted economic
threshold, and flowed at a rate of 821,000 cubic feet per day. Drilling of,
the Jetstream #2 appraisal well was completed on February 1, 2025, reaching a
TD of 5,638 feet (1,718 metres). In August 2025, the Jetstream #1 appraisal
well was deepened to a total depth of 5,100 feet and successfully flow-tested
using a wellhead compressor, delivering a peak gas flow rate of approximately
1.3 million cubic feet per day. Meanwhile, a multi-well drilling campaign at
Topaz is set to commence imminently to increase the Company's understanding of
the helium reservoir and advance Pulsar's strategy to become a leading helium
producer in response to growing global demand.

On behalf Pulsar Helium Inc.

"Thomas Abraham-James"

President, CEO and Director

Further Information:

Pulsar Helium Inc.

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

+ 1 (218) 203-5301 (USA/Canada)

+44 (0) 2033 55 9889 (United Kingdom)

https://pulsarhelium.com (https://pulsarhelium.com)

https://ca.linkedin.com/company/pulsar-helium-inc
(https://ca.linkedin.com/company/pulsar-helium-inc) .

Strand Hanson Limited

(Nominated & Financial Adviser, and Joint Broker)

Ritchie Balmer / Rob Patrick / Richard Johnson

+44 (0) 207 409 3494

OAK Securities*

(Joint Broker)

Richard McGlashan / Mungo Sheehan

+44 7879 646641 / +44 7788 266844

richard.mcglashan@oak-securities.com
(mailto:richard.mcglashan@oak-securities.com) /
mungo.sheehan@oak-securities.com (mailto:mungo.sheehan@oak-securities.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.

Yellow Jersey PR Limited

(Financial PR)

Charles Goodwin / Annabelle Wills

+44 777 5194 357

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

About Pulsar Helium Inc.

Pulsar Helium Inc. is a publicly traded company quoted on the AIM market of
the London Stock Exchange and listed on 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.

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 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
statements regarding bringing the Topaz project to production, anticipated
full plant construction contract in 2026, final investment decision being made
in 2026, the potential impact of the drill results, flow testing and pressure
testing on the next iteration of the resource estimate; the potential of CO(2)
as a valuable by-product of the Company's future helium production; 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 ; commodity prices; health, safety and environmental
factors; and other factors set forth above as well as risk factors included in
the Company's Annual Information Form dated July 31, 2025 for the year ended
September 30, 2024 found under Company's profile on www.sedarplus.ca
(http://www.sedarplus.ca) .

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 are
expressly qualified in their entirety by this cautionary statement.

 

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