REG - Pulsar Helium Inc. - Pulsar Drilling Commenced at Topaz Project

Pulsar HeliumAnnouncement

06/01/2025 07:00

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RNS Number : 1907S  Pulsar Helium Inc.  06 January 2025

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NEWS RELEASE | JANUARY 6, 2025 | CASCAIS, PORTUGAL

PULSAR HELIUM ANNOUNCES DRILLING HAS COMMENCED AT THE JETSTREAM #1 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, announces that
drilling for the deepening of the Jetstream #1 appraisal well commenced at
6:00PM (central time) on January 2(nd), 2025, at its flagship Topaz Project in
Minnesota ("Topaz" or the "Project"). As part of this crucial phase, Pulsar
plans to deepen the Jetstream #1 appraisal well by a minimum of 1,640 feet
(500 metres), to a total depth of no less than 3,840 feet (1,170 metres) which
is anticipated to be completed later this week. Upon completion, a series of
downhole tools will be used to gather data on the well characteristics.

Highlights

•            Drilling: Deepening of Jetstream #1 is underway and
anticipated to be completed later this week. On site are the same Capstar crew
and rig used to drill Jetstream #1 in February, 2024.

•            Downhole testing: Open-hole wireline logging will
commence immediately upon the completion of drilling. Flow testing will occur
at a later time when the well pressure has stabilised.

•            Step out well: The drill pad for the step out well,
Jetstream #2, is complete and the conductor rig is scheduled to install the
conductor by the end of January 8th.

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

"Deepening of the Jetstream #1 well has commenced and is progressing extremely
well. The assessment of the full height of the previously discovered high
helium concentration reservoir is a key stage in progressing Topaz. Previous
drill data obtained in February 2024 indicated that we only reached the top of
the reservoir and that it may extend for a further 1,640 feet. Immediately
upon completion we will run down-hole tools, and I look forward to keeping the
market updated with our progress."

Strategic Significance

The Jetstream #1 appraisal well previously reached total depth (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 is
a pivotal step in advancing Pulsar's strategy to address the increasing global
demand for helium as the Company moves another step closer to production. The
deepening of Jetstream #1 will target the full height of the helium reservoir,
guided by insights from recently acquired geophysical data, previous drilling
data, and onsite testing.

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

+44 (0) 2033 55 9889

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.

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
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 are
expressly qualified in their entirety by this cautionary statement.

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