REG - Pulsar Helium Inc. - Pulsar Announces Completion of Jetstream #2

Pulsar HeliumAnnouncement

03/02/2025 07:15

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RNS Number : 6254V  Pulsar Helium Inc.  03 February 2025

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NEWS RELEASE | FEBRUARY 3, 2025 | CASCAIS, PORTUGAL

PULSAR HELIUM ANNOUNCES SUCCESSFUL COMPLETION OF THE JETSTREAM #2 APPRAISAL
WELL, TOPAZ PROJECT, MINNESOTA, USA

Pulsar Helium Inc. (AIM: PLSR, TSXV: PLSR, OTCQB: PSRHF) ("Pulsar" or the
"Company"), a leading helium project development company, is pleased to
announce the successful completion of drilling the Jetstream #2 appraisal well
at its flagship Topaz Project in Minnesota, USA. The drilling operation
reached Total Depth ("TD") of 5,638 feet (1,718 metres) on February 1st, 2025,
successfully penetrating the entire interpreted helium-bearing interval, and
beyond. Elevated helium values were encountered in Jetstream #2 over a gross
vertical thickness of 3,178 feet (969 metres) with samples containing up to
3.5% helium identified, despite dilution from atmospheric air due to the
rotary air drilling method used.

Key Achievements

•       Successful Drilling: Jetstream #2 reached its target depth of
5,638 feet on February 1st, 2025.

•     Promising Helium Readings: Mud log gas levels containing up to 3.5%
helium were encountered during drilling. These samples are diluted by
atmospheric air due to the rotary air drilling method used, where air is
forced into the well by compressors. Actual helium concentration is likely
higher than the measured 3.5% and uncontaminated samples for laboratory
analysis will be acquired in due course to determine the true helium
concentration.

•     Expanded Reservoir: Elevated helium values were encountered in
Jetstream #2 over a gross vertical thickness of 3,178 feet (969 metres),
commencing at 2,460 feet (650 metres) to and ending at TD.

•     Comprehensive Data Collection: Down-hole wireline logging data was
acquired on February 1st, this data will be integrated with additional
downhole data that will be acquired over the coming weeks.

•       Next Steps: Additional data collection, including optical
televiewer, high-definition spectroscopy, pressure, and flow testing, will be
conducted for Jetstream #1 and #2 in February and March. All data will then be
sent to an independent resource estimator for a resource update, and to Chart
Industries for production scenario assessment and conceptual processing
facility design.

Thomas Abraham-James, President & CEO of Pulsar Helium, commented on the
drilling:

"Drilling of the Jetstream #2 appraisal well and deepening of Jetstream #1 is
now complete, both of which were a resounding success with multiple
high-concentration helium shows encountered. My congratulations to our
operational team for accomplishing these tasks on time and without injury. The
newly identified gas shows and highly encouraging helium readings give us
great confidence for this being the most significant new primary helium
discovery in North America. We now move into the all-important testing phase
and I look forward to keeping the market updated with results as they arrive."

Expanded Reservoir Potential

Elevated helium values for both Jetstream #1 and #2 occurred over a gross
vertical thickness of 3,350 and 3,178 feet (1,021 and 969 metres)
respectively, showing consistency between wells and suggests that interpreted
geophysical data correctly indicates that the helium-bearing zone extends
beyond 2,200 feet (671 metres) which was the TD of Jetstream #1 prior to
deepening. The increased gross helium-bearing interval potentially enhances
the project's resource potential and underscores the value of the Topaz
Project.

Ongoing Analysis and Testing

Additional testing, including optical televiewer and high-definition
spectroscopy are scheduled to occur later in February, with pressure and flow
testing planned for March. These will further refine the Company's
understanding of the reservoir properties and production potential.

Strategic Significance

The Jetstream #1 appraisal well previously reached TD of 2,200 feet (671
metres) on February 27th, 2024, identifying top-tier helium concentrations of
up to 14.5%, well above the 0.3% widely accepted economic threshold, and CO2
concentrations exceeding 70% - with the latter expected to further contribute
to the project economics. The deepening of Jetstream #1 and completion of
Jetstream #2 are pivotal steps in advancing Pulsar's strategy to address the
increasing global demand for helium as the Company moves toward its objective
of production.

This news release does not constitute an offer to sell or a solicitation of an
offer to buy any of the securities in the United States.  The securities have
not been and will not be registered under the United States Securities Act of
1933, as amended (the "U.S. Securities Act") or any state securities laws and
may not be offered or sold within the United States or to U.S. Persons unless
registered under the U.S. Securities Act and applicable state securities laws
or an exemption from such registration is available.

On behalf Pulsar Helium Inc.

"Thomas Abraham-James"

President, CEO and Director

THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION FOR THE PURPOSES OF THE MARKET
ABUSE REGULATION (EU) 596 / 2014 WHICH FORMS PART OF UK LAW BY VIRTUE OF THE
EUROPEAN UNION (WITHDRAWAL) ACT 2018 ("UK MAR").

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)

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 listed 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:

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

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

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.

Qualified Person Signoff

In accordance with the AIM Note for Mining and Oil and Gas Companies, the
Company discloses that Thomas Abraham-James, President, CEO and Director of
the Company has reviewed the technical information contained herein. Mr.
Abraham-James has approximately 20 years in the mineral exploration industry,
is a Chartered Professional Fellow of the Australasian Institute of Mining and
Metallurgy (FAusIMM CP (Geo)), a Fellow of the Society of Economic Geologists
and a Fellow of the Geological Society of London.

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 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 deepening
the Jetstream #1, 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
14th, 2024, found on the Company's web site at
https://pulsarhelium.com/investors/aim-rule-26/default.aspx
(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 are
expressly qualified in their entirety by this cautionary statement.

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