REG - Pulsar Helium Inc. - Q3 2025 Financial and Operating Results

Pulsar HeliumAnnouncement

01/09/2025 07:00

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RNS Number : 3369X  Pulsar Helium Inc.  01 September 2025

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REGULATIONS.

NEWS RELEASE | SEPTEMBER 1, 2025 | CASCAIS, PORTUGAL

PULSAR ANNOUNCES FINANCIAL AND OPERATING RESULTS FOR THE NINE MONTHS ENDED
JUNE 30, 2025

Pulsar Helium Inc. (AIM: PLSR, TSXV: PLSR, OTCQB: PSRHF) ("Pulsar" or the
"Company"), a leading helium project development company, is pleased to
announce its unaudited financial and operating results for the nine months
ended June 30, 2025 (the "Period").

Selected financial and operational information is outlined below and should be
read in conjunction with the Company's unaudited consolidated financial
statements and related management's discussion and analysis (the "MD&A")
for the Period, which are available on the Company's website at
www.pulsarhelium.com (http://www.pulsarhelium.com) , the Company's SEDAR+
profile at www.sedarplus.ca (http://www.sedarplus.ca) , and at the following
links:

·    Financial Statements:
http://www.rns-pdf.londonstockexchange.com/rns/3369X_1-2025-8-29.pdf
(http://www.rns-pdf.londonstockexchange.com/rns/3369X_1-2025-8-29.pdf)

·    MD&A:
http://www.rns-pdf.londonstockexchange.com/rns/3369X_2-2025-8-29.pdf
(http://www.rns-pdf.londonstockexchange.com/rns/3369X_2-2025-8-29.pdf)

All figures are in US dollars ("US$") unless otherwise stated.

Operational Highlights for the three months ended June 30, 2025 and up to the
date of this news release

•             On June 24, 2025, the Company announced its engagement
of Sproule-ERCE to conduct a pre-feasibility study ("PFS") at the Tunu
helium-geothermal project (the "Tunu Project"). On completion, the PFS will
provide the Company with a robust technical and economic foundation for future
project decisions.

•            On August 18, 2025, the Company announced major natural
flow test results at the Jetstream #1 appraisal well marking a major leap in
well performance, with natural flow rates more than tripling those recorded in
2024. The Jetstream #1 well delivered a maximum natural flow rate of ~501
thousand cubic feet per day (Mcf/d) during open-flow testing on August 15,
2025. This was observed on a 38/64-inch choke at approximately 30 psi WHP,
without compression assistance. By comparison, during initial appraisal in
April 2024, Jetstream #1 reached a peak natural flow of ~150 Mcf/d at 34 psi.
The improvement of more than threefold under near-identical pressure
conditions highlights the effectiveness of recent wellbore clean-up and
deepening and underscores the formation's strong productivity. Importantly, no
formation water has been encountered, the gas has flowed as dry gas. In
addition to the peak result, Jetstream #1 demonstrated stable long-duration
flows, producing 150-300 Mcf/d for periods of 12-18 hours on smaller choke
sizes. These sustained flows showed no significant decline and were followed
by rapid pressure recovery, indicating excellent reservoir recharge capacity.

•            On August 26, 2025, the Company announced that it had
executed a drilling contract and Master Services Agreement with Timberline
Drilling Inc. to drill up to ten wells, with drilling expected to commence in
late September 2025. Pulsar also reported results from recent flow testing of
its Jetstream #1 and Jetstream #2 appraisal wells, that includes Jetstream #1
flowing over 1.3 million cubic feet per day under well-head compression.

Financial Summary for the Period

•             Loss for the Period was $8,515,252 and comprised:

•            Administration costs of $2,699,831 (which includes
non-cash share-based compensation of $382,512 and non-cash depreciation of
$40,016).

•             Exploration and evaluation expenditures of
$6,461,866 relate to the deepening of Jetstream #1 and drilling of Jetstream
#2 at the Topaz project.

•             Listing fees of $355,003 related to Admission.

•             A non-cash gain on revaluation of warrant
liability of $1,103,615.

•             Cash Position: $617,626 at June 30, 2025.

•            On October 18, 2024, the Company's common shares
commenced trading (the "Admission") on the AIM market of the London Stock
Exchange plc ("AIM") under the symbol PLSR. Concurrent with Admission, the
Company completed of a total gross funding of £5 million which included the
£1.125 million cornerstone investment completed in August 2024.

•            On January 9 and March 21, 2025, the Company completed a
brokered private placement, in two tranches, for gross proceeds of $2,427,498
which included participation from high net worth and institutional investors
from the USA, including University Bancorp, Inc. ("University Bancorp") that
on closing of the private placement held 4.93% of the issued and outstanding
common shares of the Company.

•             In April 2025, the Company entered into a project
financing facility line of credit note with University Bancorp, pursuant to
which University Bancorp has extended the Company a $4,000,000 project finance
facility (the "Facility"). During the Period, the Company drew $2,500,000 of
the Facility.

•             On August 29, 2025, the Company completed a private
placement through the issuance of 16,174,338 common shares at a price of
£0.23 per share for total gross proceeds of £3,720,100. University Bancorp
participated in the private placement and now holds 4.99% of the issued and
outstanding common shares of the Company.

 Selected Financial Results
                                          Nine months ended June 30, 2025  Nine months ended

                                                                           June 30, 2024
 Statement of Loss:
 Revenue                                  $Nil                             $Nil
 Net loss                                 $8,515,252                       $21,444,007
 Basic and diluted loss per common share  $0.07                            $0.24
 Financial Position:
 Total assets                             $1,878,670                       $2,303,843
 Total liabilities                        $5,601,399                       $8,188,020

* During the Period, the Company recorded a non-cash gain on revaluation of
warrant liability of $1,103,615 (2024 - loss of $12,371,353)

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)

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

*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.

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 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. No un-risked Contingent and Prospective Helium
Volumes have been defined at the Tunu 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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