Mr. Andrew Davidson reports

ROYAL HELIUM CLOSES THE FIRST TRANCHE OF ITS PREVIOUSLY ANNOUNCED BROKERED LIFE OFFERING FOR $4,500,000

Royal Helium Ltd. has closed the first tranche of its previously announced underwritten private placement offering of 18.75 million units of the company at an issue price of 24 cents per unit for aggregate gross proceeds of $4.5-million.

The first tranche offering was conducted pursuant to the terms and conditions of an underwriting agreement among the company, and Research Capital Corp. as the lead underwriter and sole bookrunner, on behalf of a syndicate of underwriters, including Cormark Securities Inc. and Eight Capital.

Each unit consists of one common share in the capital of the company and one common share purchase warrant. Each warrant shall entitle the holder thereof to purchase one common share at an exercise price of 31 cents per warrant share for a period of 36 months following the closing of the first tranche offering. The first tranche offering was conducted pursuant to the listed issuer financing exemption under Part 5A of National Instrument 45-106 (Prospectus Exemptions) and will not be subject to resale restrictions pursuant to applicable Canadian securities laws.

The net proceeds from the first tranche offering will be used to finance the multiwell operations at the company's Val Marie, Ogema and Steveville helium projects, along with production facility design and engineering, and for general corporate purposes.

In connection with the first tranche offering, the underwriters received a cash commission of $245,970, as well as 1,024,875 broker warrants. Each broker warrant is exercisable to acquire one unit for 24 cents and exercisable on or before Nov. 14, 2026. In addition, the underwriters received 25,125 advisory broker warrants on the same terms as the broker warrants.

About Royal Helium Ltd.

Royal Helium is an exploration, production and infrastructure company with a primary focus on the development and production of helium and associated gases. 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 Helium is well positioned to be a leading North American producer of this increasingly high-value commodity.

Royal Helium's helium reservoirs are carried primarily with nitrogen. Nitrogen is not considered a greenhouse gas, and therefore, the plant has a low greenhouse gas footprint when compared with plants in 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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