REG - Pulsar Helium Inc. - Update for Well-Testing at Topaz Helium Project

Pulsar HeliumAnnouncement

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RNS Number : 3972G  Pulsar Helium Inc.  28 April 2025

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NEWS RELEASE | APRIL 28, 2025 | CASCAIS, PORTUGAL

PULSAR HELIUM ANNOUNCES AN UPDATE FOR WELL-TESTING AT THE TOPAZ HELIUM PROJECT
IN MINNESOTA

Pulsar Helium Inc. (AIM: PLSR, TSXV: PLSR, OTCQB: PSRHF) ("Pulsar" or the
"Company"), a primary helium development company, announces an update for
well-testing activities at Jetstream #1 and Jetstream #2 at its flagship Topaz
project in Lake County, Minnesota.

Pressure and flow testing operations were conducted on the Jetstream #1 and #2
appraisal wells with well-head pressure at both being highly encouraging,
reaching 122 PSIG* at Jetstream #1 and 151 PSIG at Jetstream #2. Well-head
pressure at Jetstream #2 is greater than Jetstream #1 was in February 2024
(145 PSIG) when it achieved a flow rate of 821,000 cubic feet per day, under
well-head compression.

During flow testing activities, it was discovered that drilling fines (rock
dust) created by the air drilling method (that pulverizes the rock) were
present within fractures and partially coating the wellbore wall. The creation
of drilling fines is commonplace when air drilling Although gas flow may be
restricted, pressure communication still occurs (albeit also constrained)
which is why the Company was unaware of the restricted flow until testing
commenced.

The Company has performed a preliminary clean-up on both wells to mobilise the
drilling fines, achieving improved flow results, demonstrating that the
drilling fines are mobile and can be removed. Despite the currently restricted
conditions, stable and consistent flow rates were achieved under with both
wells flowing natural flow and on compression.

Further flow testing of the Jetstream wells will recommence when clean-up of
the wells is complete and the drilling fines have been removed, all of which
are anticipated to be completed in the next 6 - 10 weeks.

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

"We are pleased with these preliminary findings and look forward to being able
to resume flow testing when the rock dust has been removed from the wells. Our
technical team is taking the necessary measures to complete the clean-up and
we will advise investors as soon as these works are complete and when testing
will be resumed."

*PSIG = Pounds per Square Inch Gauge. Indicating how much pressure is above or
below the local atmospheric pressure.

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 has now 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 CO2 concentrations exceeding 70% -
with the latter expected to further contribute to the project economics.
Drilling of, the Jetstream #2 appraisal well was completed on February 1,
2025, reaching a TD of 5,638 feet (1,718 metres). The deepening of Jetstream
#1 and completion of the drilling of Jetstream #2 are pivotal steps in
advancing Pulsar's strategy to address the increasing global demand for helium
as the Company moves another step closer to production.

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

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.

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 completion of the flow testing and pressure build
up tests of Jetstream #1 and Jetstream #2, the timing of completion of the
flow testing and pressure testing; the potential impact of the drill results,
flow testing and pressure testing on the deepening of Jetstream #1, the
drilling Jetstream #2 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
the flow testing and pressure testing of Jetstream #1 and Jetstream #2,  in
drilling commercially productive wells; the uncertainty of resource
estimation; operational risks in conducting exploration, including that
flow-testing, pressure testing and drill costs may be higher than estimates ;
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
(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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