REG - Pulsar Helium Inc. - Proposed Acquisition Major Minnesota Land Position

Pulsar HeliumAnnouncement

02/09/2025 07:00

For best results when printing this announcement, please click on link below:
https://newsfile.refinitiv.com/getnewsfile/v1/story?guid=urn:newsml:reuters.com:20250902:nRSB5592Xa&default-theme=true

RNS Number : 5592X  Pulsar Helium Inc.  02 September 2025

THIS ANNOUNCEMENT AND THE INFORMATION CONTAINED HEREIN IS RESTRICTED AND IS
NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART, DIRECTLY OR
INDIRECTLY, IN, INTO OR FROM AUSTRALIA, JAPAN OR THE REPUBLIC OF SOUTH AFRICA
OR TO BE TRANSMITTED, DISTRIBUTED TO, OR SENT BY, ANY NATIONAL OR RESIDENT OR
CITIZEN OF ANY SUCH COUNTRIES OR ANY OTHER JURISDICTION IN WHICH SUCH RELEASE,
PUBLICATION OR DISTRIBUTION MAY CONTRAVENE LOCAL SECURITIES LAWS OR
REGULATIONS.

NEWS RELEASE | SEPTEMBER 2, 2025 | CASCAIS, PORTUGAL

PULSAR HELIUM ANNOUNCES PROPOSED ACQUISITION OF MAJOR MINNESOTA LAND POSITION
TO THE WEST OF TOPAZ PROJECT

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 non-binding term sheet to acquire up to 100% of
Quantum Hydrogen Inc. ("Quantum") in an all-share transaction (the "Proposed
Transaction").

Highlights of the Proposed Transaction

•          Quantum holds exclusive mineral rights for non-hydrocarbon
gases in Minnesota (59,100 gross acres) that are located in St Louis and
Itasca Counties (the "Assets"), to the west of Pulsar's flagship Topaz
project.

•           Circa 1,000% increase to Pulsar's gross acreage in
Minnesota, on completion of the Proposed Transaction.

o            Proximal and prospective for helium and hydrogen, with
geological traits analogous to the Topaz project, where recent testing at the
Jetstream #1 appraisel well confirmed strong reservoir productivity, expected
to support future production.

o      The newly acquired acreage provides an opportunity to apply Pulsar's
extensive subsurface knowledge in a conventional gas reservoir.

•           Pulsar remains focused on achieving its core objective of
becoming a major helium producer at Topaz, with this additional acreage being
a low-cost, long-term addition intended for future exploration activities.

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

"The Proposed Transaction is a fortuitous opportunity to obtain additional
non-hydrocarbon gas leases in Minnesota, complementing Pulsar's existing
portfolio. The Assets will expand our helium exploration footprint in
Minnesota by approximately 1,000%, providing us with additional acreage nearby
to our flagship Topaz project, with similar geology that could potentially
host helium accumulations.

It is an exciting time for the Company, with the recently announced testing
results for Jetstream #1, the recently completed financing, and the expansion
of our acreage in Minnesota. This all-share transaction would allow us to
preserve our cash for advancing Topaz, realising its production potential,
while simultaneously exploring the new, but geologically familiar acreage for
potential additional helium opportunities."

Strategic Rationale for the Proposed Transaction

The mineral rights are situated within a non-hydrocarbon-bearing sedimentary
basin that overlies Archaean crystalline basement, the same helium source rock
type as at the Topaz project. While Topaz represents a helium discovery within
fractured basement, the newly acquired acreage provides an opportunity to
apply Pulsar's extensive subsurface knowledge in a conventional gas reservoir:
helium generated in basement granites migrating into overlying sedimentary
reservoirs sealed by mudstone and siltstone units. Pulsar has developed a
strong technical foundation in identifying and

characterising helium migration pathways, source-proximity relationships, and
structural controls through its work at Topaz. The acquisition would allow
Pulsar to leverage its experience across additional acreage with similar
helium generation potential. Pulsar's board believes this represents a logical
and low-risk way to expand its exploration portfolio, while remaining firmly
within the Company's core technical focus.

Terms of the Transactions

Pulsar has entered a non-binding term sheet with Oscillate plc ("Oscillate")
to acquire its wholly owned subsidiary, Quantum. The term sheet includes a
120-day exclusivity period for the parties to execute a definitive agreement
and Pulsar to complete its due diligence exercise.

Under the Oscillate term sheet, Pulsar will acquire 80% of the issued share
capital of Quantum. The consideration will be satisfied entirely through the
issuance of new Pulsar common shares, with no cash component. The share
consideration will be equivalent to US$400,000, issued in five equal monthly
tranches of US$80,000 each over a five-month period. The number of shares in
each tranche will be determined by the 30-day volume-weighted average price
("VWAP") of Pulsar's shares prior to each issuance (subject to the minimum
price allowable by the TSX Venture Exchange ("TSXV"). Pulsar retains the right
to acquire the remaining 20% of Quantum within 18 months for an additional
US$400,000 in Pulsar shares, under the same terms and pricing mechanism.

The term sheet signed with Oscillate is non-binding in nature and does not
create any obligation on any party to proceed with the Proposed Transaction.
The only provisions of the term sheet that are legally binding at this stage
are those relating to confidentiality, exclusivity, allocation of costs, and
governing law. All other terms remain subject to negotiation, completion of
due diligence, and execution of definitive agreements.

The securities to be issued in connection with the transaction will be subject
to a four-month-and-one-day hold period (as required by the TSXV). Completion
of the Proposed Transaction remains subject to customary conditions, including
completion of due diligence, definitive documentation, regulatory approvals
(including TSXV acceptance), and any required shareholder consents. Quantum is
an early-stage exploration company with no current revenue and no reserves or
defined helium or hydrogen resources. As such, the Company does not expect the
Proposed Transaction to have any material impact on Pulsar's financial
results, operations, or resource base in the near term.

The Company also notes that Neil Herbert, a director of Pulsar, is a minority
shareholder of Oscillate, and accordingly abstained from all deliberations and
voting on these transactions, in line with corporate governance best
practices.

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) in January 2025,
successfully penetrating the entire interpreted helium-bearing reservoir and
beyond. The well had previously reached TD of 2,200 feet (671 metres) in
February 2024, identifying top-tier helium concentrations of up to 14.5%, well
above the 0.3% widely accepted economic threshold. In August 2025, Jetstream
#1 was flow-tested using a wellhead compressor, delivering a peak gas flow
rate of approximately 1.3 million cubic feet per day of dry, helium-rich gas.
A multi-well drilling campaign at Topaz is set to commence in late September
2025 to further define the reservoir and progress 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
potential impact of the drill results, flow testing and pressure testing on
the next iteration of the resource estimate; the potential of CO2 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 completing
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.

 

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact
rns@lseg.com (mailto:rns@lseg.com)
 or visit
www.rns.com (http://www.rns.com/)
.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our
Privacy Policy (https://www.lseg.com/privacy-and-cookie-policy)
.   END  ACQUPUMCBUPAPPG