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NEWS RELEASE | JANUARY 30, 2025 |
CASCAIS, PORTUGAL
PULSAR HELIUM ANNOUNCES
SUCCESSFUL COMPLETION OF PASSIVE SEISMIC SURVEY AT THE TUNU PROJECT
IN GREENLAND
Pulsar Helium Inc. (AIM: PLSR, TSXV:
PLSR, OTCQB: PSRHF) ("Pulsar" or the "Company"), a leading helium project
development company, is pleased to announce that it has received
the interpretation of a passive seismic survey conducted at the Kap
Tobin prospect within the Tunu Project, Greenland. The data was
collected in the summer of 2024 and interpretation received this
month, showing two main low velocity anomaly zones that fit surface
observations of a hydrothermal zone and fault that is associated
with gas emissions containing up to 0.8% helium between 50-200
metres vertical depth.
Key achievements:
•
Successful Survey: 150 passive seismic sensors deployed at an
average interstation distance of 100 metres.
•
Promising Results: High quality data received, reliable
between 50-200 metres vertical depth.
•
Velocity Anomalies: Study reveals two low-velocity anomaly
zones aligning with surface observations of a hydrothermal zone and
a fault linked to gas emissions with up to 0.8% helium.
• Fractured Reservoir:
Unexpectedly low velocities suggest the rock is more fractured than
anticipated. This could aid helium exploration, as fractures
provide spaces for the gas to accumulate and become trapped
underground.
•
Exploration Targets: Identified low-velocity zones
offer clear targets for drilling exploratory wells for helium and
potential associated geothermal energy production.
Thomas Abraham-James, President & CEO of Pulsar
Helium, commented on the
study:
"The completion of this
passive seismic survey at the Kap Tobin prospect in Greenland marks
a significant milestone in our exploration efforts at the Tunu
Project. The identified low velocity anomalies, coupled with our
previous helium shows in the area, reinforce our confidence in the
project's potential not only for helium, but also geothermal
energy. These results provide valuable insights into the subsurface
structure and will guide our future exploration and development
strategies."
Strategic Significance
Helium is on the European Union (EU)
list of critical raw materials and while not an EU member,
Greenland is a strategic partner to the critical raw materials
initiative. Potential for a combined helium and geothermal energy
operation has been identified and is being assessed for commercial
production. Geothermal energy could be utilised for the helium
production facility and as an alternative power source for the
nearby settlement of Ittoqqortoormiit (located 7.5km to the north
of Kap Tobin) which currently relies on diesel generators.
Meanwhile produced helium could be exported to the EU.
Reservoir Potential
The survey has revealed promising
indications of potential helium-bearing reservoirs. The two
identified main NNE-SSW low velocity anomaly zones correlate with
surface observations of hydrothermal activity and faulting. These
features could potentially indicate pathways for helium migration
and accumulation.
Kap
Tobin Summary
The Kap Tobin prospect located
within the Company's Tunu Project in Liverpool Land, East
Greenland, and is 7.5km south of the settlement of
Ittoqqortoormiit. Previous sampling of hot springs at Kap Tobin in
2022 revealed helium concentrations between 0.36-0.82%, determined
using different methods in three independent laboratories. The
remainder of the gas is mostly nitrogen, which is an inert gas that
makes up the majority of Earth's atmosphere. Additional geothermal
studies by academic institutions suggest a reservoir temperature of
at least 80°C, with some models indicating temperatures up to
110°C.
Next Steps
Pulsar will integrate these passive
seismic results with existing geological and geochemical data to
refine its exploration model and identify optimal locations for
future drilling. Given the positive results to date, the Company is
assessing potential strategic partners to advance the Tunu Project
while it focuses on realising the helium production potential at
its Topaz Project in Minnesota, USA.
The
Tunu Project Mineral Exploration Licence
The Tunu Project comprises exclusive
Special Mineral Exploration Licence 2021-45 (MEL-S 2021/45) and a
Non-Exclusive Mineral Prospecting Licence. In accordance with the
'Application procedures and standard terms for mineral exploration
and prospecting licences in Greenland', in November 2024 the
Company applied for an exclusive exploration licence on normal
terms for part of the licence area that contains the Kap Tobin
prospect. The application is now showing approval status on the
Greenland registry, and the Company expects to receive formal
confirmation shortly. This licence will replace MEL-S 2021/45 that
was due to expire on 31 December 2024 and will have an initial term
of five years, which is extendable, subject to meeting certain
conditions, to a maximum term of 22 years.
This news release does not constitute an offer to sell or a
solicitation of an offer to buy any of the securities in the United
States. The securities have not been and will not be registered
under the United States Securities Act of 1933, as amended (the
"U.S. Securities Act") or any state securities laws and may not be
offered or sold within the United States or to U.S. Persons unless
registered under the U.S. Securities Act and applicable state
securities laws or an exemption from such registration is
available.
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.
Qualified Person Sign-off
In accordance with the AIM Note for
Mining and Oil and Gas Companies, the Company discloses that Thomas
Abraham-James, President, CEO and Director of the Company has
reviewed the technical information contained herein. Mr.
Abraham-James has approximately 20 years in the mineral exploration
industry, is a Chartered Professional Fellow of the Australasian
Institute of Mining and Metallurgy (FAusIMM CP (Geo)), a Fellow of
the Society of Economic Geologists and a Fellow of the Geological
Society of London.
For further information
visit:
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 for conducting
geophysical surveys and drilling future wells at the Tunu Project.
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. No un-risked
Contingent and Prospective Helium Volumes have been defined at the
Tunu 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.
