Mr. Greg Robb reports

HELIUM EVOLUTION CLOSES SECOND TRANCHE OF EXPANDED PRIVATE PLACEMENT

Helium Evolution Inc. has closed the second tranche of the expanded strategic private placement and a private placement to insiders and consultants of Helium Evolution, as announced on April 7, 2025.

Pursuant to the private placement, Helium Evolution issued 10,683,579 units at 19 cents per unit for gross proceeds of $2.0-million. Insiders have subscribed for 1,161,579 of the units. Each unit will be composed of one common share of the company and one-half of one common share purchase warrant. Each warrant will entitle the holder thereof to acquire one common share of the company at a price of 30.5 cents for a period of one year from the closing date of May 30, 2025, with an acceleration feature if the closing price over a 30-day period remains at or above 57 cents per common share at any time following the six-month anniversary of the closing date.

This private placement, along with the $2.8-million raised from the closing of the previous private placement, brings the total amount raised by the company to $4.8-million. The previous private placement comprised two separate closings. The first closing occurred on March 17, 2025, where 7.04 million units were issued at 17 cents per unit, for gross proceeds of $1.2-million. The second closing occurred on April 4, 2025, where an additional 9,217,000 units were issued at 17-cent per unit, for gross proceeds of $1.6-million. Similar to the private placement, each unit was composed of one common share of the company and one-half of one common share purchase warrant. Each warrant entitles the holder thereof to acquire one common share of the company at a price of 27 cents for a period of one year from the respective closing dates, subject to an acceleration feature if the closing price over a 30-day period remains at or above 51 cents per common share at any time following the six-month anniversary of the respective closing dates. There were no insider transactions associated with the previous private placement.

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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