Mr. Thomas Abraham-James reports

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

Pulsar Helium Inc. has released further results from its continuing exploration program at its 100-per-ent-owned Topaz project in Minnesota:

• Flow rate of up to 821,000 cubic feet per day with helium grade between 8.7 per cent and 14.5 per cent.
• 162 psi (pound per square inch) (1,117 kpa (kilopascal)) bottom hole pressure.
• 70-per-cent pressure rebound within the first hour of postflow shut-in. The fast buildup of pressure is regarded as highly positive, suggesting that there is a significant volume of gas present.

As previously announced, the Jetstream No. 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 per cent to 14.5 per cent.

The combination of flow rate multiplied by helium concentration confirms Jetstream No. 1 as world-class helium well in the context of other publicly listed helium explorers and developers.

The Jetstream No. 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. Continuing analysis of Jetstream No. 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 No. 1 have confirmed 162 psi (1,117 kpa) bottom hole pressure, and 70-per-cent pressure rebound within the first hour of postflow 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.

Continuing work

All data are now being transferred to Sproule International Ltd. for its 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 No. 1 and drilling stepout wells.

About Pulsar Helium Inc.

Pulsar Helium is a publicly traded company. Pulsar's portfolio consists of its flagship Topaz helium project in Minnesota, United States, that has been drilled and flowed up to 14.5 per cent helium, 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.

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