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NEWS RELEASE | DECEMBER 9, 2024 |
CASCAIS, PORTUGAL
Pulsar Helium Commences Field
Activities for Deepening the Jetstream #1 Appraisal Well at the
Topaz Project in Minnesota, USA
Pulsar Helium Inc. (AIM: PLSR, TSXV:
PLSR, OTCQB: PSRHF) ("Pulsar" or the "Company"), a leading helium project
development company, announces the commencement of field activities
at its flagship Topaz Project in Minnesota ("Topaz" or the "Project"). The Company reports that
personnel and equipment have begun arriving on-site, with deepening
of the Jetstream #1 appraisal well set to commence when all
equipment is on site and scheduled to conclude before the Christmas
holiday. As part of this crucial phase, Pulsar plans to deepen the
Jetstream #1 appraisal well by a minimum of 1,640 feet (500
metres).
Highlights
• Field
mobilisation: Personnel and equipment started arriving on-site on
the 7th of December.
•
Drilling schedule: The deepening of the Jetstream #1
appraisal well is scheduled to begin when the rig and all
associated equipment is on site and conclude prior to the Christmas
holiday.
• Well
extension: Pulsar aims to deepen the Jetstream #1 well by a minimum
of 1,640 feet (500 metres), penetrating the entire modelled
helium-bearing reservoir.
• Data
acquisition: A mass spectrometer will be acquiring gas
compositional data throughout the drilling with wireline log
acquisition to occur immediately upon completion of
drilling.
• Site
preparedness: The Jetstream #1 drill pad is fully prepared and
permitted.
• Continuous
operations: Comprehensive site upgrades are completed, allowing
continuous drilling and access to support ancillary activities
throughout December and into 2025.
Thomas Abraham-James, President & CEO of Pulsar, commented
on the recent development at the Topaz Project:
"Deepening Jetstream #1 is a major step forward for Pulsar.
The February 2024 well that was drilled within the prospect did not
reach the desired depth flowed concentrations that are extremely
high by global standards, significantly surpassing the commonly
accepted economic viability threshold. During this deeper drilling
phase, we plan to build on this and unlock a helium resource of
size and quality to advance our goal to become a significant helium
supplier.
"I
look forward to updating our shareholders on the drilling results
in the near future."
Subscribe and watch today's live
Interview with Pulsar's President & CEO Thomas Abraham-James,
streamed on investormeetcompany.com at 13:00GMT:
investormeetcompany.com/pulsar-helium-inc-1/register
Strategic Significance
The Jetstream #1 appraisal well
previously reached total depth (TD) of 2,200 feet (671 metres) on
the 27th of February 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. The
deepening of Jetstream #1 is a pivotal step in advancing Pulsar's
strategy to address the increasing global demand for helium as the
Company moves another step closer to production. The deepening of
Jetstream #1 will target the full height of the helium reservoir,
guided by insights from recently acquired survey data, previous
drilling phases, and onsite testing.
On behalf Pulsar Helium
Inc.
"Thomas Abraham-James"
President, CEO and
Director
Further Information:
Pulsar Helium Inc.
connect@pulsarhelium.com
+ 1 (218) 203-5301
+44 (0) 2033 55 9889
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 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.
For further information
visit:
Website https://pulsarhelium.com
X https://x.com/pulsarhelium
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 potential of CO2 as a valuable by-product of the Company's
future helium production; the estimated Geological Chance of
Success for 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 are expressly qualified in their
entirety by this cautionary statement.