Mr. Greg Robb reports

HELIUM EVOLUTION ANNOUNCES FILING OF ANNUAL 2023 FINANCIAL RESULTS AND PROVIDES OPERATIONS UPDATE

Helium Evolution Inc. has filed the company's annual financial statements and associated management's discussion and analysis for the year ended Dec. 31, 2023.

Complete details of the annual report are available on SEDAR+ and on Helium Evolution's website.

During the year ended Dec. 31, 2023, Helium Evolution continued to execute on its focused strategy of developing the company's 5.6 million acres of helium rights in Southern Saskatchewan and advancing its ultimate goal of producing and selling helium, generating cash flow, and driving positive returns for shareholders. Helium Evolution has remained committed to maintaining continuing financial flexibility, demonstrated by a positive working capital position of $5.7-million at Dec. 31, 2023, excluding $800,000 of tubing and casing that were prepurchased and not utilized.

Operations update

Looking forward to the rest of 2024 and into 2025 and as announced on April 2, 2024, the company is strategically planning to embark upon a drilling program in the Mankota area of Saskatchewan with its partner, North American Helium Inc., building upon three existing helium discoveries in the region. Helium Evolution and NAH are planning to drill up to nine joint development wells, which are expected to spud between third quarter 2024 and second quarter 2025, subject to surface and environmental restrictions. With Helium Evolution's 20-per-cent working interest in the new wells, the company is positioned to capitalize on this strategic expansion.

About Helium Evolution Inc.

Helium Evolution is a Canadian-based helium exploration company holding the largest helium land rights position in North America among publicly traded companies, focused on developing assets in Southern Saskatchewan. The company has 5.6 million acres of land under permit near proven discoveries of economic helium concentrations, which will support scaling the exploration and development efforts across its land base. Helium Evolution's management and board are executing a differentiated strategy to become a leading supplier of sustainably produced helium for the growing global helium market.

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