Mr. Andrew Davidson reports

ROYAL HELIUM'S BANK LINE EXPANDS AS THE COMPANY PREPARES TO DELIVER ADDITIONAL HELIUM TRAILERS TO MARKET FROM ITS STEVEVILLE HELIUM PROCESSING PLANT

Royal Helium Ltd.'s senior lenders, Business Development Bank of Canada (BDC) and Canadian Western Bank (CWB), have expanded the company's debt facilities (see news release of Feb. 6, 2023), increasing them by a total of $3.6-million. Proceeds from the bank facility will finance final costs relating to the Steveville facility and will have the same terms as the prior facility except for the principal repayment start date being moved out to February, 2024.

Andrew Davidson, president and chief executive officer of Royal, states: "We are appreciative of the ongoing support and confidence by our senior banking partners Canadian Western Bank and the Business Development Bank of Canada. Both CWB and BDC have been strong and steadfast partners to Royal through the company's Steveville facility development process, and we are proud to continue and expand upon that relationship as this first-of-its-kind purification facility is now fulfilling its mission to deliver purified helium to end-markets with deliveries officially having commenced."

The Steveville plant is designed to process 15 million cubic feet per day of raw gas fed by the two 100-per-cent-owned helium wells at Steveville, Alta., and produce 22,000 million cubic feet of 99.999 per cent helium per year. The engineered life of the plant is 25 years while both wells are expected to remain on stream for a minimum of nine years. The plant will also produce enough fuel gas to power the plant and is capable of producing up to 22 million pounds of commercial carbon dioxide.

About Royal Helium Ltd.

Royal 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 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 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.

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