RCS - Pulsar Helium Inc. - Pulsar Announces Further Analysis on Topaz Project

Pulsar HeliumAnnouncement

10/06/2024 12:15

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RNS Number : 7044R  Pulsar Helium Inc.  10 June 2024

NEWS RELEASE | JUNE 10, 2024 | VANCOUVER BC

PULSAR ANNOUNCES FURTHER ANALYSIS PUTTING TOPAZ IN THE TOP TIER OF GLOBAL
PRIMARY HELIUM PROJECTS

Pulsar Helium Inc. (TSXV:PLSR & OTCQB:PSRHF) ("Pulsar" or the "Company")
is today reporting further results from its ongoing exploration program at its
100% owned Topaz project in Minnesota.

•             Flow rate of up to 821,000 cubic feet per day with
helium grade between 8.7-14.5%.

•             162 psi (1,117 kpa) bottom hole pressure.

•        70% pressure rebound within the first hour of post-flow
shut-in. The fast build-up of pressure is regarded as highly positive,
suggesting that there is a significant volume of gas present.

As previously announced, the Jetstream #1 appraisal well* recently completed
flow testing operations where gas was recorded over a total of five flow tests
at rates of up to 821,000 cubic feet per day with no formation water present.
Laboratory analysis confirmed the world-class grade of helium, with analysis
from an independent laboratory calculating helium content in the range of
8.7-14.5%.

The combination of flow rate multiplied by helium concentration confirms
Jetstream #1 as world-class helium well in the context of other publicly
listed helium explorers and developers.

The Jetstream #1 appraisal well is Pulsar's first and only well on the
property, which twinned and surpassed the original 2011 discovery which
reported helium hosted in fractures. Ongoing analysis of Jetstream #1 has
identified additional fractures sets, which in combination with the data
collected to date confirms the presence of a globally significant discovery
and provides Pulsar with the confidence to drill deeper and test the entirety
of the interpreted helium-bearing zone, as identified by seismic surveys
conducted by the Company.

Additional pressure data acquired from Jetstream #1 has confirmed 162 psi
(1,117 kpa) bottom hole pressure, and 70% pressure rebound within the first
hour of post-flow shut-in, suggesting the presence of significant volumes of
gas. Well head (surface) pressure of 20 psi as previously announced, is not a
static shut-in pressure, which was measured at 144 psi (993 kpa). Decreasing
the flowing tubing head pressure at the surface serves to have a corresponding
increase in the flow rate.

Ongoing Work

All data is now being transferred to Sproule International Ltd for their
resource update calculation, expected to be completed in July. In the
meantime, the Company is preparing for additional field activities consisting
of seismic surveys, interpretation of the recently acquired in-fill FALCON
airborne gravity gradiometry, and preparation for drilling later in 2024. The
drilling is likely to consist of deepening Jetstream #1 and drilling step-out
wells.

* In the State of Minnesota, the regulatory term is 'exploratory boring'.

About Pulsar Helium Inc.

Pulsar Helium Inc. is a publicly traded company listed on the TSX Venture
Exchange with the ticker PLSR and on the OTCQB with the ticker PSRHF. Pulsar's
portfolio consists of its flagship Topaz helium project in Minnesota, USA,
that has been drilled and flowed up to 14.5% helium, 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,
follow us on X https://twitter.com/pulsarhelium?lang=en and LinkedIn
https://ca.linkedin.com/company/pulsar-helium-inc.

On behalf Pulsar Helium Inc.

"Thomas Abraham-James"

President, CEO and Director

Further Information:

Thomas Abraham-James President,

CEO and Director Pulsar Helium Inc.

connect@pulsarhelium.com (mailto:connect@pulsarhelium.com)

+ 1 (604) 599-0310

Neither 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 statements and 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 and may involve estimates, assumptions and uncertainties which
could cause actual results or outcomes to differ materially from those
expressed in such forward-looking statements.  No assurance can be given that
these expectations will prove to be correct and such forward-looking
statements included in this news release should not be unduly relied upon.
These statements speak only as of the date of this news release.

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 based on a number of assumptions and 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 Pulsar may be unsuccessful in drilling commercially productive wells; drill
costs may be higher than estimates; delays in the commencement of drilling, a
temporary permit may not be issued, and other factors set forth under
"Cautionary Note Regarding Forward Looking Statements and Market and Industry
Data" and "Risk Factors" in the Final Prospectus. 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. Any forward-looking statements contained in this news release are
expressly qualified in their entirety by this cautionary statement.

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