REG - Pulsar Helium Inc. - Landmark Minnesota Helium Legislation

Pulsar HeliumAnnouncement

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RNS Number : 9587F  Pulsar Helium Inc.  28 May 2026

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NEWS RELEASE | MAY 28, 2026 | CASCAIS, PORTUGAL

PULSAR HELIUM WELCOMES LANDMARK MINNESOTA HELIUM REGULATION AS TOPAZ ADVANCES
TOWARD FIRST PRODUCTION AMID GLOBAL HELIUM SHORTAGE

New gas extraction regulatory framework update supports development of the
Topaz Project as Pulsar successfully concludes its Jetstream 3-7 exploration
and appraisal program, advances production-well planning and responds to
urgent demand for secure domestic helium supply.

Pulsar Helium Inc. (AIM: PLSR) (TSXV: PLSR) (OTCQB: PSRHF) ("Pulsar" or the
"Company"), a primary helium company, applauds the leadership of Minnesota
lawmakers as on May 26th, Minnesota Governor Tim Walz signed into law new
legislation updating the state processes for the permitting of gas extraction
projects. This will specifically advance a helium-specific framework for gas
resource development in Northeastern Minnesota.

Summary

 * Minnesota's new helium-specific rulemaking guidelines create a clearer pathway
toward responsible helium production at Pulsar's flagship Topaz Project.

 * The framework applies specifically to helium development.

 * Formation logging was successfully completed for the Jetstream wells, enabling
detailed correlation and evaluation of the Topaz reservoir. Logging has shown
the zones of gas influx into the wells can be accurately correlated with
specific highly fractured zones.

 * All Jetstream wells drilled to date have encountered gas under high pressure,
as reported in the Company's news release dated March 18, 2026.

 * Pulsar has concluded its exploration and appraisal program at Topaz and is now
obtaining quotes for the drilling of up to four new production wells to
supplement the two existing production ready wells already drilled.

 * Global helium supply has tightened sharply following the disruption to the
Strait of Hormuz, attacks on QatarEnergy's Ras Laffan facilities and Russian
export controls, while U.S. customers have already been subject to allocation
and surcharge measures.

 * Pulsar is focused on production readiness and intends to deploy capital with
the objective of realizing production during this urgent period of need for
secure helium supply.

The updated legislation represents a significant and constructive milestone
for Pulsar's flagship Topaz Helium Project. It also establishes a clearer
implementation pathway for future helium production, subject to the expected
completion of required rulemaking, environmental review, permitting
requirements and related state processes.

The legislation will advance Minnesota as it continues to support helium
development while maintaining strong environmental and public-interest
protections. The changes are specific to gas well development for projects
whose primary purpose is helium extraction, limiting such activity to Cook,
Lake and St. Louis Counties, prohibiting oil wells, prohibiting hydraulic
fracturing treatment in gas wells, and preserving the ability to sell carbon
dioxide extracted in the ordinary course of helium production.

Cliff Cain, President of Pulsar, commented:

"Today is a landmark day for Pulsar and for helium development in Minnesota.
The Governor's signature creates a defined, helium-specific pathway toward
production at Topaz, at exactly the moment when the world needs new, secure
helium supply most.

"With our Jetstream exploration 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."

In parallel with this regulatory progress, Pulsar has now completed formation
logging across Jetstream #3 through Jetstream #7 (except Jetstream #5). The
logging program has enabled detailed correlation and evaluation of the Topaz
reservoir, with zones of gas influx accurately correlating with specific
highly fractured zones. Drill core remains under laboratory and technical
evaluation for reservoir-property characterization.

All Jetstream wells drilled to date have encountered gas under high pressure,
further supporting the continuity and strength of the Topaz helium system. The
Company has concluded its exploration and appraisal program at Topaz and is
now obtaining quotes for the drilling of up to four new production wells. The
Company believes the Jetstream exploration and appraisal program has
materially de-risked future drilling at Topaz and the Company is now firmly
focused on production readiness, with its capital to be deployed toward that
objective.

The legislative progress in Minnesota comes at a time of significant
disruption in global helium markets. The current helium shortage has been
driven by a combination of factors, including the closure of the Strait of
Hormuz, attacks on QatarEnergy's Ras Laffan facilities, and new Russian export
controls. Qatar supplies approximately 35% of the world's helium supply, and
disruption at Ras Laffan has highlighted the vulnerability of global helium
supply chains, particularly because helium is typically produced as a
by-product of natural gas processing and transported in specialized cryogenic
containers through limited logistics routes.

QatarEnergy has also stated that damage to its facilities may take three to
five years to repair, adding to the risk of prolonged helium-market tightness.
In addition, Russia has introduced helium export controls through the end of
2027, further constraining available international supply. In the United
States, at least some helium customers have already been subject to allocation
measures and surcharge notices from major industrial gas suppliers.

Helium is essential to industries and technologies that depend on reliable,
secure supply, including semiconductor fabrication, MRI machines, aerospace,
satellites, national security, quantum computing, cryogenics and advanced
manufacturing. In semiconductor fabrication, helium is used for wafer cooling,
thermal management, leak detection and maintaining stable process conditions,
with limited or no viable substitute in certain critical applications. Pulsar
believes these market conditions underscore the urgent need for secure,
domestic, non-hydrocarbon-associated primary helium supply.

Topaz, located in Lake County near Babbitt in northern Minnesota, is Pulsar's
100%-owned flagship project and one of the leading primary helium discoveries
in the United States. Pulsar has reported strong helium concentrations from
the Jetstream wells and has also reported the presence of helium-3, a rare
isotope with applications in quantum computing, ultra-low-temperature
cryogenics, neutron detection, medical imaging, national security and future
fusion energy research.

Unlike most global helium production, Topaz is a high-grade primary helium
discovery and is not associated with hydrocarbon production. Pulsar believes
the project has the potential to support domestic supply chains, create
skilled employment in Northeastern Minnesota and contribute to economic
development opportunities across the state. In preparation for production,
Pulsar signed a Letter of Intent in March 2026 with Chart Industries, Inc.
(NYSE: GTLS) a leading global manufacturer of industrial equipment, for the
supply of an integrated CO₂ capture and helium liquefaction facility. Chart
will conduct Front-End Engineering and Design (FEED) studies, with Pulsar
expected to advance a Limited Notice to Proceed (LNTP) payment in advance to
secure Chart's engineering schedule. The LOI also commits Chart to supporting
ongoing joint public relations initiatives, underscoring the strategic and
commercial alignment between both companies as Pulsar advances toward
production at Topaz.

The new legislation establishes the framework for the next phase of regulatory
and legislative work. Before commercial gas production can proceed, applicable
state rulemaking, environmental review, permitting requirements and related
implementation steps must be completed. On May 18, 2026, the Minnesota
Department of Natural Resources took a significant step in this process by
issuing proposed expedited permanent rules for permitting gas resource
development, such as Pulsar's Topaz Project. The Company intends to support
the state's next steps by providing technical information on primary helium
development, groundwater protection, well construction, gas handling, carbon
dioxide management, emergency response planning and project-specific risk
controls.

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.

Qualified Person Signoff

In accordance with the AIM Note for Mining and Oil and Gas Companies, the
Company discloses that Brad Cage, VP Engineering and Officer of the Company,
has reviewed the technical information contained herein. Mr. Cage has
approximately 25 years in the oil and gas industry, is a member of the Society
of Petroleum Engineers and is a licensed professional petroleum engineer in
Oklahoma, USA.

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
advancing the Topaz project towards first production; the establishment of a
clearer implementation pathway for future helium production; the Jetstream
exploration and appraisal program having materially de-risked future drilling
at Topaz; the Topaz project having the potential to support domestic supply
chains, create skilled employment in Northeastern Minnesota and contribute to
economic development opportunities across Minnesota; the potential of CO(2)
and/or Helium-3 as a valuable by-product of the Company's future helium
production; and the drilling of up to four new production 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; the ability to obtain all requisite regulatory approvals; and
that the State of Minnesota will complete the requisite rulemaking,
environmental review, permitting requirements and implementation steps to
allow for commercial production.

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 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; the risk that the requisite state rulemaking, environmental review,
permitting and implementation steps will not be completed; 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.

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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