Mr. Greg Robb reports

HELIUM EVOLUTION ANNOUNCES KEY WELL LICENSES OBTAINED

Helium Evolution Inc.'s partner, North American Helium Inc. (NAH), has secured licences to drill two joint wells in the Mankota area. This initiative is part of the previously announced development plan for up to nine wells in the Mankota area, as disclosed on April 2, 2024.

The licences are for wells to be located at 7-2-4-9W3M (the 7-2 well) and 3-19-3-8W3 (the 3-19 well). Both the 7-2 well and the 3-19 well are considered delineation wells designed to further assess the reservoir potential in the area. The 7-2 well, which is anticipated to be drilled first, offsets the discovery well at 9-35-3-9W3 (the 9-35 well), which was drilled in the first quarter of 2024.

In a previous announcement on Feb. 26, 2024, the company reported that the 9-35 well flow tested at approximately seven million standard cubic feet per day and 9,000-kilopascal flowing tubing pressure during the six-day extended flow period. The gas composition of the 9-35 well is 0.64 per cent helium and 96.7 per cent nitrogen, with the balance comprising fractional percentages of minor component gases. Additionally, as announced on April 10, 2024, a postflow pressure transient analysis (PTA) on the 9-35 well revealed no reservoir pressure depletion or reservoir boundaries, highlighting a potentially expansive and productive reservoir. The PTA also calculated an absolute open-flow potential of 13.3 million standard cubic feet per day.

"We are excited to have taken these crucial first steps in our ambitious drilling program, which is set to unfold this fall and winter," stated Greg Robb, president and chief executive officer of Helium Evolution. "We are working closely with NAH to secure licences for the remaining seven wells and look forward to providing future updates on the 7-2 well, the 3-19 well, and our other exploration and development activities."

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 over five 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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