Mr. Ed Bereznicki reports

FIRST HELIUM CEO UPDATE HIGHLIGHTS STRATEGIC POSITIONING OF OIL AND HELIUM ASSETS AMID GLOBAL SUPPLY UNCERTAINTY

First Helium Inc. today acknowledged the heightened focus on the security of global helium, oil and LNG (liquified natural gas) supply amid escalating geopolitical tensions related to the Iran conflict and reconfirmed the strategic positioning of its asset portfolio.

Against this backdrop, First Helium's North American asset base -- including its Charlie Lake shallow heavy oil project and a helium contingent resource estimate of 323 million cubic feet -- is increasingly strategic as markets reassess supply risk tied to Middle East production.

"Recent geopolitical developments are reinforcing the importance of stable, North American-sourced energy and helium," said Ed Bereznicki, president and chief executive officer of First Helium. "Our combination of oil development potential, and a significant helium enriched natural gas resource, positions the company to benefit from growing supply security concerns."

Asset portfolio overview

First Helium continues to advance its 53,000-acre (approximately 83 sections) land base at Worsley, Northern Alberta, Canada. Based on management's evaluation, highlights include:

Charlie Lake shallow heavy oil project

• Internal assessment of oil in place and recoveries justifies commercial development;
• Currently, over 30 horizontal drilling locations identified across 10 sections (targeting approximately 125,000 barrels per well);
• Existing company-owned infrastructure supports lower operating costs.

In Q1 2025, the 7-30 well was drilled and completed in the Charlie Lake formation. Approximately 50 barrels of 15-degree API oil was recovered from the well in the two calendar days following an acid stimulation, demonstrating vertical well, cold flow heavy oil capability. Approximately one kilometre southeast, the well logs from the previously drilled 1-30 well, in conjunction with clean oil observed at surface while drilling through the same interval as tested in 7-30, confirm management's assessment of the Charlie Lake formation on its land base.

Helium project

The company's helium assets provide exposure to increasing demand for secure, non-Middle East supply.

15-25 vertical well (Leduc formation):

• Tested natural gas with 1.3 per cent helium: development pending processing facility;
• Independent contingent resource estimate:
  • 323 mmcf (million cubic feet) helium;
  • 12.6 Bcf (billion cubic feet) natural gas;
  • 372 mbbl (million barrels) natural gas liquids.
• Estimated NPV (net present value) 10 per cent of approximately $18-million (based on $500/mcf helium);
• Over 9,600 acres of proprietary 3-D seismic at East Worsley, near 1.7 per cent to 5.7 per cent helium content well bores;
• Front-end engineering design (FEED) study for 15-25 helium processing facility completed;
• 46 km of gas pipelines to support helium gas production across the Worsley project.

5-27 horizontal well (West Worsley -- Blue Ridge formation):

• Drilled and cased, ready for completion and testing;
• Offset historical production supports helium content of approximately 0.8 to 0.9 per cent;
• Successful testing leads to additional 31 horizontal drilling locations.

7-15 vertical well (East Worsley -- Blue Ridge formation):

• Located approximately 26 km east of 5-27 well;
• Tested 1.0-per-cent helium content;
• Confirms potential for regional, helium enriched natural gas development play spanning the company's 53,000-acre, 100-per-cent-owned land base.

Geopolitical context driving helium market focus

Helium is a critical input for semiconductors, aerospace and medical imaging, and is designated as a critical mineral by the government of Canada. Global supply has historically been constrained and is heavily concentrated in a small number of jurisdictions.

Recent reports indicate that a major helium production facility in Qatar -- a country responsible for over one-third of global supply -- has been disrupted following a drone strike linked to the Iran conflict. These events are intensifying concerns over supply reliability and highlighting the strategic value of stable, North American helium sources.

Continuing strategic initiatives

The company continues to evaluate opportunities to accelerate development and unlock value across its oil and helium portfolio, including potential partnerships and financing alternatives.

"Our focus remains on advancing our assets in a disciplined manner while positioning the company to capitalize on evolving global energy dynamics," added Mr. Bereznicki

About First Helium Inc.

Led by a core senior executive team with diverse and extensive backgrounds in oil and gas exploration and operations, mining, finance, and capital markets, First Helium seeks to execute its shallow heavy oil growth strategy and position its option for future development of a premium North American, helium-enriched natural gas play.

First Helium holds over 53,000 acres along the highly prospective Worsley trend in Northern Alberta, which has been the core of its exploration and development drilling activities to date.

Building on its successful 7-30 shallow heavy oil discovery well, 15-25 helium discovery well, 1-30 and 4-29 light oil wells, and the 5-27 helium-enriched natural gas horizontal evaluation well at the Worsley project, the company has identified numerous follow-up drill locations and acquired an expansive infrastructure system to facilitate future exploration and development across its Worsley land base. Cash flow from its successful oil wells at Worsley has helped support First Helium's continuing exploration and development growth strategy.