Mr. Thomas Abraham-James reports

PULSAR HELIUM AND LUNAR HELIUM-3 MINING SIGN EVALUATION AGREEMENT FOR HELIUM-3 RECOVERY ASSESSMENT AT TOPAZ

Pulsar Helium Inc. has entered into an evaluation agreement with Lunar Helium-3 Mining, LLC (LH3M) to evaluate LH3M's proprietary helium-3 separation, concentration, recovery and associated processing technology using data and helium samples from Pulsar's flagship Topaz project in Minnesota, United States. The collaboration targets a potential new U.S. helium-3 supply source for quantum computing and national security applications.

The objective is to assess the technical feasibility of recovering and concentrating helium-3 from Topaz gas, including technical compatibility, recovery performance, product purity, operating requirements, scale-up considerations and preliminary economics. The staged program may lead to discussion of a controlled pilot and, if the parties later enter into a separate definitive agreement, potential commercial deployment of LH3M's technology at Topaz.

Helium-3 is an exceptionally rare and high-value isotope used as a coolant in dilution refrigerators that enable many leading quantum-computing systems to operate at temperatures near 0.01 kelvin. Secure access to helium-3 is therefore critical to expanding these systems and supporting U.S. quantum capability and national security. It currently sells for more than $18-million (U.S.) per kilogram in specialized markets.

U.S. helium-3 supply currently depends on a single government production source: recovery from radioactive tritium decay at the Department of Energy's Savannah River Site, with sales and distribution managed by the DOE Isotope Program. LH3M estimates annual U.S. helium-3 production at approximately one to two kilograms and available U.S. inventory at potentially less than five kilograms; exact figures are not publicly disclosed. LH3M warns that this constrained supply is insufficient to support projected commercial quantum-computing demand at scale, creating a growing strategic supply-chain vulnerability.

If the evaluation demonstrates that helium-3 can be recovered economically, Topaz could become one of the first, if not the only, commercial U.S. sources of newly recovered helium-3 from a natural gas deposit. Such production could supplement constrained government-derived supply and help meet growing quantum-computing needs.

Beyond its role as a coolant, helium-3 has potential future use as a fuel for fusion. Helium-3 fusion is the only pathway to globally scalable green energy. Quantum computing and national security provide the immediate strategic rationale for evaluating additional supply at Topaz, with fusion representing a longer-term opportunity.

As announced by Pulsar on Jan. 19, 2026, raw gas samples from the Jetstream No. 1 well at Topaz were independently analyzed by the U.S. Geological Survey Noble Gas Laboratory and the Lawrence Livermore National Laboratory. Both U.S. federal laboratories confirmed helium-3 concentrations of approximately 11.2 to 11.9 parts per billion, closely matching results from the Woods Hole Oceanographic Institution and providing strong third party validation of the Topaz helium-3 discovery.

Thomas Abraham-James, Dr. Chris Salvino and Pulsar's helium-3 expert, Dr. Peter Barry, are attending the 4th NASA-USGS Offworld Resources Workshop, being held Oct. 13 to Oct. 15, 2026, at the NASA Ames Conference Center in Moffett Field, Calif. Dr. Salvino will present "Helium-3: A Collapsing Global Supply Chain and the Race to the Moon" today, Wednesday, Oct. 14, 2026, from 11:30 a.m. to 11:45 a.m. local time, as part of the workshop's Offworld Industry Concepts session.

Mr. Abraham-James, chief executive officer of Pulsar, commented: "Our goal is straightforward: to unlock the helium-3 potential at Topaz. Independent verification by the USGS and Lawrence Livermore National Laboratory established a strong scientific foundation, and this agreement gives us the opportunity to evaluate how LH3M's technology can recover and concentrate helium-3 from Topaz gas.

"With helium-3 selling for more than $18-million (U.S.) per kilogram, successful development could add a highly valuable and strategically important product stream alongside our primary helium development. We are excited to begin this work with LH3M."

Dr. Salvino, chief executive officer of LH3M, commented: "We see a collapsing helium-3 supply chain just as quantum computing is moving toward commercial scale. Helium-3 is the coolant that enables many leading quantum systems to operate, and securing its supply is a national security priority as the United States competes with China for quantum leadership.

"Pulsar has independently verified helium-3 at Topaz, and LH3M brings proprietary separation technology to evaluate that opportunity. If we can demonstrate commercially viable recovery, this collaboration could help establish an important new U.S. helium-3 supply. Our immediate focus is to assess recovery, purity, scale-up and economics using Topaz data and samples."

Evaluation program

The program will begin with a desktop evaluation of Topaz gas-composition, isotopic and analytical data. LH3M will then prepare a proposed laboratory evaluation plan addressing the technology, equipment, test protocols, samples, analytical methods, technical success criteria, budget, schedule and applicable safety and regulatory requirements.

The proposed phase 2 plan is expected to include technical success criteria addressing helium-3 purity, recovery, mass balance and repeatability. The parties' initial working target is at least 95-per-cent helium-3 purity, subject to agreement in the final phase 2 Plan.

If the laboratory evaluation is successful, the parties will discuss a controlled pilot under a separate agreement and may negotiate definitive commercial terms for deployment of LH3M's technology at Topaz. Pulsar will retain ownership of all Topaz samples and all helium-3, helium and other materials derived from them.

The evaluation remains at an early stage. There is no assurance that it will be successful, that a pilot will proceed or that the parties will conclude a commercial agreement.

About Pulsar Helium Inc.

Pulsar Helium is a publicly traded company quoted on the 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 and 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.

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