Mr. Thomas Abraham-James reports

PULSAR HELIUM ANNOUNCES UPCOMING DOWN-HOLE TESTING OF THE JETSTREAM APPRAISAL WELLS, TOPAZ PROJECT, MINNESOTA, USA

Pulsar Helium Inc.'s downhole testing equipment is scheduled to mobilize to site on Monday, Feb. 24, 2025. The tools consist of an optical televiewer and LithoScanner, both of which will be run on both the Jetstream No. 1 and No. 2 appraisal wells.

Summary

• Downhole testing involving optical televiewer and LithoScanner tools is scheduled to commence on Monday, Feb. 24, 2025. The data collection process, expected to take approximately two days, will provide valuable insights into reservoir characteristics. Jetstream No. 1 was deepened to a total depth (TD) of 5,100 feet (1,555 metres) while Jetstream No. 2 reached a TD of 5,638 feet (1,718 metres).
• Next steps: Flow rate and bottom-hole pressure testing will occur in March, 2025, once wellhead pressures are anticipated to have stabilized. The flow testing will be conducted over a period of up to two weeks for each well. All data will then be sent to an independent resource estimator for a resource update and to Chart Industries for production scenario assessment and conceptual processing facility design.

Expanded reservoir potential

Elevated helium values were observed in both Jetstream No. 1 and No. 2 over a gross vertical thickness of 3,350 feet and 3,178 feet (1,021 metres and 969 metres), respectively. This consistency between wells suggests that the interpreted geophysical data accurately indicate that the helium-bearing zone extends beyond 2,200 feet (671 metres), which was the total depth of Jetstream No. 1 before deepening. The increased gross helium-bearing interval has the potential to enhance the project's resource potential, highlighting the significance of the Topaz project.

Strategic significance

The Jetstream No. 1 appraisal well reached a TD of 2,200 feet (671 metres) on Feb. 27, 2024. This identified top-tier helium concentrations of up to 14.5 per cent significantly exceed the widely accepted economic threshold of 0.3 per cent. Moreover, CO2 (carbon dioxide) concentrations exceeded 70 per cent, which is expected to further enhance the project's economics. The recent deepening of Jetstream No. 1 and the completion of Jetstream No. 2 are crucial steps in advancing Pulsar's strategy to meet the growing global demand for helium as the company progresses toward its production objective.

About Pulsar Helium Inc.

Pulsar Helium is a publicly traded company listed on the AIM (Alternative Investment 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, United States, 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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