Mr. Andrew Davidson reports

ROYAL HELIUM ACQUIRES ADDITIONAL HELIUM PROSPECT LANDS IN ALBERTA

Royal Helium Ltd.'s wholly owned subsidiary, Imperial Helium Corp., has agreed to acquire a significant new project located in the vicinity of the company's Steveville asset in Southern Alberta from an arm's-length private company. Pursuant to the terms of a purchase and sale agreement among Royal, the vendor and Imperial, Imperial has now exercised its sole and exclusive one-time option to purchase the asset pursuant to the terms of a revised seismic review and option to purchase agreement between Imperial and the vendor.

Andrew Davidson, president and chief executive officer, states, "As the Steveville helium processing facility nears completion for our first helium production and sales, we are pleased to expand our footprint in Alberta and look toward developing another helium field in the province."

Royal's geological and engineering team has determined that the newly acquired land in Alberta holds significant potential for high-flow-rate helium-enriched gas in the Cambrian and Devonian horizons in at least two structures identified in the acquired and reprocessed 2-D seismic. Royal has plans for an initial drill program for the fall/winter season of 2023. Details will be provided once the program is finalized.

The asset includes the entire right, title, estate and interest to drill, explore and produce, as well as all surface rights and records not in the public domain.

Shayne Neigum, chief operating officer, comments: "This new project area presented something unique to other areas that we have reviewed, with the presence of existing historic test data demonstrating high-flow-rate inert gas and confirmed significant helium concentrations. Upon completion of the seismic program, which began in the fourth quarter of 2022, it became clear that this will become one of our highest-priority areas, as all of the geological features required of a successful helium production reservoir have been confirmed."

Pursuant to the terms of the purchase and sale agreement, the total purchase price for the asset will be $400,000 consisting of a combination of cash consideration and a number of common shares in the capital of the company that represents the equivalent of $160,000, with such common shares to be at a deemed value as the volume-weighted average market price of the common shares for the five business days prior to the closing date, or such other deemed price as prescribed and acceptable to the TSX Venture Exchange, which amounts to 468,796 common shares at a deemed price of 34.13 cents. No finder's fees are payable in connection with the transaction and no non-arm's-length parties are involved in the transaction.

About Royal Helium Ltd.

Royal is an exploration, production and infrastructure company with a primary focus on the development and production of helium. The company controls over one million acres of prospective helium permits and leases across Southern Saskatchewan and southeastern Alberta. Given the current and foreseeable global undersupplied nature of this critical and non-renewable product, Royal is well positioned to be a leading North American producer of this increasingly 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 with 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.

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