Mr. Greg Robb reports

HELIUM EVOLUTION PROVIDES SIGNIFICANT UPDATE ON PRODUCTION FACILITIES, PRELIMINARY RESULTS OF 5-30 WELL, AND OPERATIONS UPDATE

Helium Evolution Inc. has provided plans for production facilities in the Mankota area, with anticipated production slated for the fourth quarter of 2025. Additionally, the company is providing preliminary test results from its 5-30-3-8W3 helium discovery well (the 5-30 well), located along the Mankota helium fairway. Helium Evolution holds a 20-per-cent working interest in the 5-30 well, in partnership with the operator, North American Helium Inc. (NAH).

Looking ahead to production

Helium Evolution continues to work closely with NAH to plan the next phase of development in the Mankota area. With four helium discovery wells in close proximity to one another, NAH is actively pursuing the licensing and installation of processing facilities in the area. The size and specifications of the facility will be determined following the final analysis of the 5-30 well results. It is anticipated that the facilities will be operational in the fourth quarter of 2025, contingent on surface, licensing and installation considerations. Helium Evolution fully supports this initiative as the establishment of processing facilities is a crucial step in Helium Evolution's strategy to transition toward commercial helium production.

"We are very excited about moving to production in the Mankota area," said Greg Robb, chief executive officer of Helium Evolution. "The results thus far are promising, and we are optimistic about our ability to achieve commercial production in the near future. This is a major milestone for our development in the Mankota region. Our ongoing partnership with NAH will be critical as we move towards the installation of processing facilities and scaling up production."

5-30 well preliminary test results

Completion, perforation and initial production testing of the 5-30 well are continuing. After an extended five-day flow testing period, the 5-30 well was producing approximately 9.7 million standard cubic feet per day at 10,700-kilopascal flowing tubing pressure. The preliminary test results also confirmed a helium content of 0.76 per cent, significantly higher than the commercially viable threshold of 0.3 per cent. Furthermore, the 5-30 well produced negligible water, signalling strong potential for efficient helium recovery and processing.

Following the extended production flow period, the 5-30 well will be shut in for 14 days to gather reservoir pressure data. These data will be analyzed to further evaluate the resource potential and optimize future development.

Operations update

Helium Evolution provides the following operations update on its other wells:

• 3-19-3-8W3 well (the 3-19 well): Drilling has ceased prior to reaching the targeted zone due to operational challenges and the early onset of spring weather in the Mankota area. As a result, NAH has made the decision to abandon the 3-19 well. The target will be re-evaluated as part of the fall drilling program.
• 12-29-2-8W3 (the 12-29 well): Completion operations have been suspended until the latter half of 2025 due to environmental restrictions in the area. Operations on the 12-29 well had to cease by Feb. 22, 2025, in compliance with these regulations.

Helium Evolution and NAH intend to resume drilling in the Mankota area after Sept. 1, 2025, given the environmental and surface restrictions that will be in place until that time.

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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