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NEWS RELEASE | NOVEMBER 4, 2024 |
CASCAIS, PORTUGAL
PULSAR HELIUM COMPLETES KEY
SITE IMPROVEMENTS AT TOPAZ PROJECT, SETTING STAGE FOR NEXT PHASE OF
DRILLING
Pulsar Helium Inc. (AIM: PLSR, TSXV:
PLSR, OTCQB: PSRHF) ("Pulsar" or the "Company"), the helium project
development company, is pleased to provide an operational update on
the Topaz Project in Minnesota ("Topaz" or the "Project"), where site improvements have
now been completed, paving the way for a step forward in the
Company's helium exploration and production strategy.
With the recent upgrades to site
access, roadways, and drill pad setup, Pulsar is on track to deepen
the Jetstream #1 well to further explore and unlock the resource
potential at Topaz, marking a pivotal step forward in its strategy
to address the growing global demand for helium.
OPERATIONAL HIGHLIGHTS
•
New Drilling Contract Signed: Following
the announcement on 1 October 2024, Pulsar will partner with
Capstar Drilling to deepen the Jetstream #1 well by approximately
500 metres to reach the anticipated full height of the helium
reservoir.
•
Roadway Enhancements: Sections of the
Project's main access road have been modified for all weather
access to support operational traffic for year-round operations.
This roadwork completion allows for the mobilisation of the Capstar
drill rig in non-frozen conditions. Further access improvements are
scheduled to take place in late November, in anticipation of
increased traffic levels during the winter operational
period.
•
Drill Pad Ready: The Jetstream #1 drill
pad is fully prepared and ready to accept the drilling rig and
ancillary equipment which is anticipated to begin arriving to site
during the first week of December.
Advancing Helium Production Potential
The Topaz Project, located in
Minnesota, USA, is Pulsar's flagship project and a cornerstone in
its strategy to boost helium supply to the domestic market. One
well has been drilled to date with additional deeper targets
identified on recently acquired geophysical data. The deepening of
the Jetstream #1 well is poised to identify further high-grade
helium.
With all relevant permits for the
Jetstream #1 well deepening in place, Pulsar is on target to
commence drilling operations this quarter, positioning Topaz to
play a transformative role in the global helium
landscape.
Thomas Abraham-James, President & CEO of Pulsar,
commented:
"Deepening Jetstream #1 is an exciting step forward for
Pulsar. Our team has worked tirelessly to progress operations at
Topaz, so we can fully understand its scale. Only one well has been
drilled within the prospect, which has not yet met target depth,
but has flowed concentrations that are considered very high by
global standards, significantly surpassing the commonly accepted
economic viability threshold. During the deeper drilling phase, we
hope to build on this, and unlock a helium resource of size and
quality, to advance our goal to become a premier helium
supplier.
"This next drilling phase offers an unprecedented opportunity
to unlock the district-scale opportunity offered by Topaz. We've
seen other projects achieve significant gains in resource size and
flow rates through similar deepening efforts, and combined with our
data, and our existing high concentration credentials, we believe
Jetstream #1 can stand as a top-tier helium production site
worldwide."
Strategic Advantages of High-Grade Helium
Topaz's high-grade helium
concentrations enable Pulsar to maintain resilience in the face of
market fluctuations, as higher-concentration deposits require less
overall volume of raw gas to be processed for economically viable
production. This focus on efficiency enhances profitability and
solidifies Pulsar's competitive edge within a volatile
market.
Further Information:
Pulsar Helium Inc.
connect@pulsarhelium.com
+ 1 (604) 599-0310
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
+44 203 973 3678
BlytheRay Ltd
(Financial PR)
Megan Ray / Said Izagaren
+44 207 138 3204
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 quoted 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 https://pulsarhelium.com,
X https://x.com/pulsarhelium
and LinkedIn 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
results of drilling, results of an updated independent
resource estimate for helium and CO2 at Topaz; the results of a
preliminary economic assessment; the estimated Geological Chance of
Success for the Prospective Resources and the Chance of
Commerciality of Topaz; 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 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 and
interview are expressly qualified in their entirety by this
cautionary statement.