Mr. Thomas Abraham-James reports

PULSAR HELIUM ANNOUNCES EXPANDED LAND POSITION AT TOPAZ, AND PROVIDES A PROJECT TECHNICAL UPDATE

Pulsar Helium Inc. has provided a technical update on the company's Topaz helium project in Minnesota.

This update follows the company's announcements of May 28 and May 29, 2026, in which Pulsar welcomed the signing into law of new Minnesota helium-specific development legislation and announced the acquisition of approximately 1,360 acres of strategic surface land at the Topaz project. Investors are referred to those announcements for further detail on those matters. This press release provides an integrated technical and land position update incorporating the full context of the company's recent developments.

Highlights:

• Site activities concluded: all seven Jetstream exploration wells at the Topaz project successfully drilled;
• Expanded land position: Pulsar's operating subsidiary, Keewaydin Resources Inc., now holds approximately 690 net mineral acres in fee simple (owned outright, royalty-free), plus approximately 4,941 net mineral acres under gas leaseholds, all within the immediate Topaz project area of interest.
• Favourable royalty structure: the majority of the leasehold (approximately 2,849 net mineral acres) carries a royalty of just 3 per cent of gross sales, well below the industry norm, with Keewaydin's owned mineral interests further reducing the effective royalty burden on 28 shared tracts;
• Production-ready drilling: planning under way to initiate drilling of two to four production-ready wells that will twin the most successful Jetstream exploration wells at the Topaz project and complement Jetstream No. 1 and No. 2 that are already production ready;
• Strengthened technical confidence: calculated downhole pressures higher than anticipated, combined with wireline logging data and reservoir modelling, have noticeably increased confidence in the scale and quality of the Topaz project;
• Reservoir correlation: well data from the Jetstream program have enabled correlation of the Topaz reservoir system across the acreage, underpinning development planning.

Thomas Abraham-James, chief executive officer of Pulsar Helium, commented: "The Topaz project has never been better positioned. We have drilled seven successful exploration wells, built a thorough understanding of our reservoir system across the acreage and secured an expanded, strategically important land position in the immediate project area, much of it at remarkably competitive royalty rates. The passage of new Minnesota helium legislation has added a further layer of confidence, giving us a clear and supportive regulatory framework for the path ahead. We head into our production-ready well drilling campaign with real momentum, strong technical foundations and a project that we believe has the potential to be a transformative U.S. primary helium project. The hard work of the exploration phase is complete; now, it is time to build."

Land position -- Topaz project area of interest

The company has recently acquired additional mineral rights within the Topaz project high-priority area of interest. These are a combination of mineral rights obtained for nil cost with no production royalty payable and additional mineral rights added (at no cost) to an existing lease agreement.

The Topaz area comprises two components:

• Owned mineral rights (royalty-free) -- approximately 690 net mineral acres owned outright in fee across 34 parcels: As the owner, Pulsar pays no production royalty on these interests, delivering a 100-per-cent net revenue interest on that acreage.
• Leased mineral rights -- approximately 4,941 net mineral acres held under gas leasehold: The majority of this acreage, approximately 2,849 net mineral acres, carries a royalty of just 3 per cent of gross sales, a highly competitive rate for a helium development asset of this scale. The balance carries a 20-per-cent royalty.

On 28 of the 34 tracts where the company also owns a portion of the underlying minerals outright, the effective royalty burden under the lease is reduced further in proportion to Keewaydin's ownership share, improving the company's net revenue interest on those tracts.

As announced on May 29, 2026, Keewaydin Resources, Pulsar's operating subsidiary, acquired approximately 1,360 acres of surface land across 34 contiguous tracts in the priority area of the Topaz project. The land lies directly overlying key project infrastructure, including the Jetstream No. 7 well site, and provides Pulsar with full operational control over a contiguous block within the Topaz project area of interest.

Site activities concluded, development planning under way

Field operations at the Topaz project have concluded, with all seven Jetstream exploration wells having been successfully drilled. The company has now transitioned from active site operations into a planning phase focused on the next stage of Topaz project's development.

New production-ready drill program

Planning is under way for a new drill program comprising drilling between two and four production-ready wells at the Topaz project. These wells will twin the most successful exploration wells drilled during the Jetstream program, building directly on the geological and reservoir insights gained across all seven wells. The new production-ready wells will complement Jetstream No. 1 and Jetstream No. 2, both of which are already designated as production ready, advancing the company toward a multiwell production scenario.

Flow-testing strategy

The company has carefully assessed the merits of conducting an extended flow-testing program on the completed exploration wells (Jetstream No. 3 through No. 7) and decided not to pursue this. It is important to note that these wells were designed and drilled specifically to gather maximum subsurface data; they were not designed or permitted to be converted into production wells.

The decision not to conduct extended flow testing on these exploration wells was further reinforced by the rapid progress of new Minnesota helium legislation through the state legislature during the drilling campaign. As the bill moved quickly toward enactment, bringing with it a clear regulatory framework for helium production in Lake, Cook and St. Louis counties, it became the right strategic decision to preserve the helium resource and direct capital toward the development program rather than venting significant volumes of gas during the legislative process.

Current helium market conditions and pricing dynamics indicate that shareholder value is best served by directing capital toward the drilling of a further two to four production-ready wells. The company believes this approach optimizes both the economic and strategic potential of the Topaz project.

Strengthened technical confidence

Drilling results, wireline logging data, reservoir modelling and higher-than-anticipated calculated downhole pressures across the Jetstream program have significantly increased the company's confidence in the scale and quality of the Topaz project. The well data have also enabled correlation of the Topaz reservoir system across the acreage, providing a robust technical foundation from which to design and target the forthcoming production-ready wells. Together, these data points provide a compelling basis to accelerate development planning and the transition toward production.

Comprehensive geological modelling

Seismic interpretation of the recently conducted 2-D seismic survey is now complete. Well data from the Jetstream program, the 2-D seismic survey and airborne gravity gradiometry are being integrated into a comprehensive geological model for the Topaz project. This unified model is expected to noticeably enhance the company's understanding of the reservoir system and inform well targeting for the forthcoming production-ready drill program.

About the Topaz project

The Topaz project is Pulsar's flagship primary helium project located in northern Minnesota, United States. Topaz is a non-hydrocarbon helium system being advanced as a potential domestic source of helium, with the additional opportunity to evaluate valuable byproducts, including CO2 (carbon dioxide) and He-3 (helium-3), as part of future development. The project is located in a stable U.S. jurisdiction with proximity to North American end markets and has the potential to support critical domestic supply chains, skilled employment and economic development in northeastern Minnesota.

About Pulsar Helium Inc.

Pulsar Helium is a publicly traded company quoted on the AIM (Alternative Investment Market) of the London Stock Exchange (United Kingdom) and listed on the TSX Venture Exchange with the ticker PLSR (Canada) as well as on the OTCQB with the ticker PSRHF (United States). Pulsar's portfolio consists of its flagship Topaz helium project in Minnesota, the Falcon project in Michigan (both in the 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.

Qualified person sign-off

In accordance with the AIM note for mining and oil and gas companies, the company discloses that Brad Cage, vice-president, engineering, and officer of the company, has reviewed the technical information contained herein. Mr. Cage has approximately 25 years in the oil and gas industry, is a member of the Society of Petroleum Engineers, and is a licensed professional petroleum engineer in Oklahoma, United States.

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