REG - Pulsar Helium Inc. - Financial and Operating Results Q2 2026

Pulsar HeliumAnnouncement

Tue 07:15

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RNS Number : 5485G  Pulsar Helium Inc.  02 June 2026

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NEWS RELEASE | JUNE 2, 2026 | CASCAIS, PORTUGAL

PULSAR FILES FINANCIAL AND OPERATING RESULTS FOR THE SECOND QUARTER ENDED
MARCH 31, 2026

Pulsar Helium Inc. (AIM: PLSR, TSXV: PLSR, OTCQB: PSRHF) ("Pulsar" or the
"Company"), a primary helium company, is pleased to announce its financial and
operating results for the six months ended March 31, 2026 (the "Period").

Selected financial and operational information is outlined below and should be
read in conjunction with the Company's unaudited condensed interim
consolidated financial statements and related management's discussion and
analysis (the "MD&A") for the six months ended March 31, 2026, which are
available on the Company's website at www.pulsarhelium.com
(http://www.pulsarhelium.com) and at the following links:

•             Financial Statements:
http://www.rns-pdf.londonstockexchange.com/rns/5485G_1-2026-6-1.pdf
(http://www.rns-pdf.londonstockexchange.com/rns/5485G_1-2026-6-1.pdf)

•             MD&A:
http://www.rns-pdf.londonstockexchange.com/rns/5485G_2-2026-6-1.pdf
(http://www.rns-pdf.londonstockexchange.com/rns/5485G_2-2026-6-1.pdf)

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

Operational Highlights for the Period

 * Between October 2025 to March 2026, the Company drilled five core-hole wells
at its flagship Topaz Project in Minnesota, with all wells encountering gas
under high pressure. The Company is now obtaining quotes for the drilling of
up to four new production wells to supplement the two production-ready wells
already drilled.

 * In May 2026, Governor Tim Walz signed into law new legislation establishing a
helium-specific framework for gas resource development in northeastern
Minnesota, and the Minnesota Department of Natural Resources issued proposed
expedited permanent rules for permitting gas resource development on May 18,
2026. These developments come amid a sharp tightening of global helium supply,
driven by disruption to the Strait of Hormuz, attacks on QatarEnergy's Ras
Laffan facilities (noting that Qatar supplies approximately 35% of the world's
helium), and new Russian export controls in place through the end of 2027. In
the United States, some helium customers have already been subject to
allocation measures and surcharge notices from major industrial gas suppliers,
underscoring the urgent need for secure, domestic, primary helium supply.

 * In May 2026, the Company completed the acquisition of certain surface land in
Lake County, Minnesota, located within the Topaz Project for a purchase price
of $2,480,000 cash.

 * In January 2026, two U.S. Federal laboratories independently confirmed the
helium-3 ((3)He) isotope concentration from the Topaz Project. The U.S.
Geological Survey Noble Gas Laboratory in Denver and Lawrence Livermore
National Laboratory in California each analyzed raw gas samples from the
Jetstream #1 well, both laboratories reported results consistent with prior
analyses conducted by the Woods Hole Oceanographic Institution, confirming
the presence of ³He in the gas with a concentration range of 11.2-11.9
parts-per-billion (ppb) and associated with 7.7- 8.0% helium-4 ((4)He),
respectively.

Acquisitions for the Period

 * In March 2026, the Company completed the acquisition of 80% of the common
shares of Quantum Hydrogen Inc. ("Quantum"), a Texas corporation, through the
issuance of 584,963 common shares. Quantum holds exclusive mineral rights for
non-hydrocarbon gases in Minnesota that are located in the St. Louis and
Itasca Counties to the west of the Company's Topaz Project. The Company has
the option to acquire the remaining 20% of Quantum until May 3, 2027, for an
additional $400,000 payable in common shares of the Company.

 * In January 2026, the Company completed the acquisition of 100% of the common
shares of Hybrid Hydrogen Inc. ("Hybrid") for total consideration of $105,000
cash. Hybrid holds an exclusive mineral rights option to lease in Michigan's
Upper Peninsula, targeting non-hydrocarbon gases (primarily helium). The
Company now refers to this project as the Falcon helium project.

Financial Highlights for the Period

 * During the Period, the Company recorded exploration and evaluation
expenditures of $6.0 million related to drilling at the Topaz project as
described above.

 * During the Period, the Company completed a private placement through the
issuance of 9,191,175 common shares for gross proceeds of $9.9 million.

 * During the Period, the Company issued 18,130,793 common shares on the exercise
of warrants for gross proceeds of $4.7 million.

 * During the Period, the Company issued 4,650,000 common shares on the exercise
of options for gross proceeds of $1.5 million.

Selected Financial Results

 Selected Financial Results
                                          Six months ended March 31, 2026  Six months ended March 31, 2025
 Statement of Loss:
 Revenue                                  $Nil                             $Nil
 Net loss                                 $12,249,858                      $7,118,554
 Basic and diluted loss per common share  $0.07                            $0.06
 Financial Position:
 Total assets                             $10,973,876                      $2,941,370
 Total liabilities                        $1,173,000                       $5,349,970

* During the Period, the Company recorded a non-cash loss on revaluation of
warrant liability of $3,413,140 (2025 - gain of $963,066)

Thomas Abraham-James, CEO of Pulsar, commented: "During the Period and Post
Period, Pulsar has been driven by our intention to develop Topaz into a
significant primary helium producer, building on growing momentum at the
project as we move decisively toward production readiness. Recent legislative
progress updating Minnesota's permitting framework for helium extraction
provides a clearer pathway toward future production, and securing ownership of
the surface land overlying our leased mineral rights provides Pulsar with
increased operational control and long-term development certainty as we
continue advancing Topaz toward production. The Company is now obtaining
quotes for the drilling of up to four new production wells to supplement the
two production-ready wells already drilled. With our Jetstream exploration and
appraisal program complete and production-well planning underway, we are
moving fast. The disruption to Qatari and Russian supply has concentrated
minds across the industry. Topaz is well positioned to be part of the
solution, and we intend to get there."

On behalf of Pulsar Helium Inc.

"Thomas Abraham-James"

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 Broker)

Ritchie Balmer / Rob Patrick

+44 (0) 207 409 3494

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 (United Kingdom) and listed on the TSX Venture
Exchange with the ticker PLSR (Canada), as well as on the OTCQB with the
ticker PSRHF (United States of America). Pulsar's portfolio consists of its
flagship Topaz helium project in Minnesota, the Falcon project in Michigan
(both in the 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
development of the Topaz project into a significant helium producer; the
recent legislation updating Minnesota's permitting framework for helium
extraction providing a clearer pathway towards future production; and the
acquisition of the surface land overlying the leased Topaz mineral rights
providing the Company with increased operational control and long-term
development certainty.

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 data 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 February 3, 2026 for the year
ended September 30, 2025 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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