Mr. Greg Robb reports

HELIUM EVOLUTION PROVIDES OPERATIONS UPDATE AND ANNOUNCES AMENDMENT OF STOCK OPTIONS

Helium Evolution Inc. has provided an update regarding its Mankota helium discoveries.

The 9-18-3-8W3 well (9-18 well) stimulation is now anticipated to take place later in June or in July, 2024. The delay is due to higher than normal rainfall in the Mankota area, which has impacted the surface conditions and postponed the start of the 9-18 well stimulation.

Looking ahead, Helium is diligently working on acquiring surface leases for multidrilling locations on four sections of recently acquired land, in which the company holds a 100-per-cent working interest. In addition, Helium and its partner, North American Helium Inc., are working together to finalize drilling locations and acquire surface leases for up to nine joint development wells on a defined helium trend in the Mankota area. The new wells are expected to spud between Q3 2024 and Q2 2025.

Additionally, Helium announces that, subject to applicable TSX Venture Exchange approval, the board of directors of the company has approved the amendment of an aggregate of 700,000 incentive stock options, of which 420,000 incentive stock options have vested, previously granted to certain consultants, and investor relations service providers of the company under the company's 2021 stock option plan. The amended options were originally granted on June 30, 2022, at an exercise price of 38.5 cents per share and are exercisable until June 30, 2027. Pursuant to the option amendments, the exercise price of the amended options has been amended to 15 cents per share and there is no change to the expiry date. None of the amended options are held by insiders of the company.

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.

We seek Safe Harbor.