Mr. Andrew Davidson reports

ROYAL HELIUM LTD. ANNOUNCES ISSUANCE OF SHARES FOR SERVICES

Royal Helium Ltd. has proposed to issue an aggregate of 1,069,383 common shares in the capital of the corporation subject to receiving acceptance from the TSX Venture Exchange).

The company announces that it proposes to issue 297,794 common shares at a deemed issue price of 34 cents to David T. Young pursuant to a shares for services agreement dated Jan. 24, 2023, between Mr. Young and the company, subject to TSX-V approval. Mr. Young has provided the company with capital markets, financial modelling and forecasting services. Such common shares to be issued to Mr. Young are at a deemed price per common share permitted under applicable exchange policies. The company plans to settle any outstanding fees owed to Mr. Young by issuing common shares.

The company also announces that it proposes to issue 459,080 common shares at a deemed issue price of 33 cents to Eight Capital pursuant to a shares for services agreement dated Feb. 16, 2023, between Eight Capital and the company, subject to TSX-V approval. Eight Capital acted as exclusive financial adviser to the special committee formed by the board of directors of Imperial Helium Corp., a wholly owned subsidiary of Royal, in connection with the company's acquisition of Imperial via plan of arrangement, which closed on July 22, 2022. Royal acquired all of the issued and outstanding common shares in the capital of Imperial in exchange for common shares on the basis of 0.614 of a common share for each common share in the capital of Imperial. Such common shares to be issued to Eight Capital are at a deemed price per common share permitted under applicable exchange policies and settles all outstanding fees owed by Imperial to Eight Capital pursuant to the transaction under the terms of the engagement letter dated Dec. 4, 2021, between Eight Capital and Imperial.

The company also proposes to issue 312,509 common shares at a deemed issue price of 36.15895 cents to AGORA Internet Relations Corp., a private company, pursuant to a shares for services agreement dated Jan. 24, 2023, between AGORA and the company, subject to TSX-V approval. AGORA has provided the company with marketing services and the generation of new shareholder leads under the terms of an on-line marketing agreement dated Jan. 29, 2021, between AGORA and the company. Such common shares to be issued to AGORA are at a deemed price per common share permitted under applicable exchange policies and settles all outstanding fees pursuant to the on-line marketing agreement. The company has also entered into an on-line marketing agreement dated Sept. 20, 2022, between AGORA and Royal for a one-year term for the provision by AGORA of the generation of shareholder leads and on-line marketing services and plans to settle any outstanding fees owed pursuant to the terms of the agreement through the issuance of common shares to AGORA amounting to an aggregate of $100,000 in common shares.

About Royal Helium Ltd.

Royal controls over one million acres of prospective helium land across Southern Saskatchewan and southeastern Alberta. All of Royals' lands are in close vicinity to highways, roads, cities and importantly, close to existing oil and gas infrastructure, with a significant portion of its land in close proximity to existing helium producing locations. With stable, rising prices and limited, non-renewable sources for helium worldwide, Royal intends to become a leading North American producer of this high value commodity.

Royal's helium reservoirs are carried primarily with nitrogen. Nitrogen is not considered a greenhouse gas (GHG) and therefore has a low GHG footprint when compared to other jurisdictions that rely on large scale natural gas production for helium extraction. Helium extracted from wells in Saskatchewan and Alberta can be up to 90 per cent less carbon intensive than helium extraction processes in other jurisdictions.

We seek Safe Harbor.