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WHOLE OR IN PART, DIRECTLY OR INDIRECTLY, IN, INTO OR FROM THE
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LOCAL SECURITIES LAWS OR REGULATIONS.
NEWS RELEASE | JANUARY 17, 2025 |
CASCAIS, PORTUGAL
PULSAR HELIUM COMMENCES
DRILLING OF THE JETSTREAM #2 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 that drilling for the Jetstream #2
appraisal well commenced at 3:55 a.m. (CST) on Thursday January 16,
2025, at its flagship Topaz Project in Minnesota ("Topaz" or the "Project"). Jetstream #2 is planned to
reach approximately 5,000 feet (1,524 metres) depth and is
scheduled to reach total depth (TD) around the end of January 2025.
This will be the second gas appraisal well drilled at the Jetstream
Prospect within the Topaz Project and is designed to provide data
on reservoir properties, including porosity, permeability and well
connectivity that will be utilised in the next iteration of
resource estimation, production modelling, and further appraisal
well planning.
Upon completion of drilling the
Jetstream #2 well, down-hole wireline logs will be collected, and
an optical televiewer run at both Jetstream #1 and #2. Flow testing
and pressure build-up monitoring are planned for both wells in
early March following a post-drill stabilisation period.
2025 Drill Program to Date
As mentioned by news release on
January 13, 2025, the Company successfully completed deepening the
Jetstream #1 appraisal well, reaching a TD of 5,100 feet (1,555
metres) on January 11, successfully penetrating the current
interpreted helium-bearing zone. Mud log gas levels containing up
to 7.24% helium were encountered during drilling. These samples are
diluted by atmospheric air due to the rotary air drilling method
used and unaffected samples for laboratory analysis will be
acquired in due course.
Strategic Significance
The Jetstream #1 appraisal well
previously reached TD of 2,200 feet (671 metres) on the February
27, 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 potential impact of drilling Jetstream
#2 and the deepening Jetstream #1 and the potential impact of such
drilling of Jetstream #2 and of deepening Jetstream #1 on the next
iteration of the resource estimate; 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 deepening the Jetstream #1, 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.
