Mr. Thomas Abraham-James reports

PULSAR HELIUM SIGNS AIRBORNE GEOPHYSICAL SURVEY CONTRACT FOR FALCON PROJECT, MICHIGAN

Pulsar Helium Inc.'s wholly owned subsidiary, Pulsar Helium (MI) Inc., has signed a contract with Xcalibur MPH (Canada) Ltd. to undertake a high-resolution airborne gravity gradiometry and magnetic survey at the company's Falcon project in Michigan's Upper Peninsula in the United States. The Falcon project gives Pulsar a district-scale opportunity to evaluate an extensive and underexplored geological system, comprising an exclusive exploration option over approximately 488,090 gross acres of mineral rights.

The opportunity is to test whether the ancient Precambrian basement geology and structural architecture that underpin Pulsar's exploration model at the company's Topaz helium project in Minnesota extend into Michigan. By imaging variations in subsurface density, lithology and structure across an initial priority area, the survey is intended to identify and rank the most compelling features within this vast land position, allowing Pulsar to focus follow-up exploration and future drilling where the geological evidence is strongest. This represents an important first step in converting the Falcon project's scale and geological potential into a defined pipeline of primary helium targets. The survey is expected to commence in mid-Q4 2026.

Highlights:

• Pulsar has signed a contract with Xcalibur for a Falcon airborne gravity gradiometer and magnetic survey comprising approximately 14,727 line kilometres over an initial priority area within the Falcon project, with commencement expected in mid-Q4 2026.
• The program will use 500-metre-spaced survey lines and 5,000-metre-spaced tie lines to map density contrasts, lithological boundaries and structural architecture, supporting the identification and ranking of future helium exploration targets across Pulsar's district-scale land position.
• A newly released, high-resolution airborne magnetic and radiometric data set financed by the U.S. Geological Survey's Earth Mapping Resources Initiative (Earth MRI) covers a large portion of the Falcon project at no acquisition cost to Pulsar and will be integrated with the new survey data as the company applies its Topaz exploration methodology to comparable geology in Michigan.

Thomas Abraham-James, chief executive officer of Pulsar, commented: "Signing this airborne survey contract marks an important step in advancing Falcon from district-scale land assembly into systematic target generation. The planned Falcon gravity gradiometry and magnetic program will provide a new, high-resolution view of the subsurface across our initial priority area, while the newly released Earth MRI magnetic and radiometric survey gives us substantial complementary regional data at no acquisition cost to Pulsar. Together, these data sets will help us efficiently rank targets and direct the next phase of work as we apply the disciplined, data-led approach developed at Topaz in Minnesota to comparable geology in Michigan."

Contracted survey

Xcalibur will deploy its purpose-built Falcon system survey, together with high-precision magnetic instrumentation, which was previously deployed successfully on the Topaz project. The Falcon system survey is designed to acquire high-resolution airborne gravity-gradient data for structural and lithological mapping, while magnetic acquisition will provide a complementary data set for interpreting basement geology and major structural features.

The planned Falcon system survey comprises approximately 14,727 line kilometres. Survey lines will be spaced 500 metres apart on a 315-degree northwest-southeast orientation, with tie lines spaced 5,000 metres apart on a 45-degree northeast-southwest orientation. Flying is planned at a nominal terrain clearance of approximately 165 metres, subject to reconnaissance and final on-site safety assessment, and is expected to commence in mid-Q4 2026, subject to operational conditions.

The aircraft will also carry laser-scanning, radar-altimeter and GPS (Global Positioning System) navigation equipment to support terrain correction, accurate positioning and survey quality control. Survey data will be reviewed progressively during acquisition, with preliminary products expected following completion of flying and final processed products to follow after detailed quality assurance and processing.

The program is intended to improve Pulsar's understanding of the location and extent of contrasting rock units and the structural framework of the priority area. These results will be integrated with geological mapping, geochemical work and other exploration data sets to support target selection and the efficient allocation of follow-up expenditure.

Earth MRI data set

On Sept. 24, 2026, the USGS published digital flight-line data from a high-resolution airborne magnetic and radiometric survey covering much of Michigan's Upper Peninsula and neighbouring northern Wisconsin. The program was financed by Earth MRI, designed by the USGS in collaboration with the Michigan Geological Survey and acquired during 2025.

The regional program acquired approximately 216,000 line kilometres of magnetic and radiometric data across approximately 38,400 square kilometres. Aircraft flew at a nominal terrain clearance of 100 metres, with north-south flight-line spacing of 150 metres in the western block and 400 metres in the eastern block; magnetic measurements were collected using stinger-mounted magnetometers and radiometric measurements using fully calibrated gamma-ray spectrometers.

The publicly available data set covers a large portion of the Falcon project and is available to Pulsar at no acquisition cost. It provides a detailed regional framework that can be integrated with the higher-resolution gravity-gradient and magnetic data to be acquired by Xcalibur, helping the company interpret lithological variation, geological contacts and structures across the wider project area.

The Falcon project

The Falcon project consolidates Pulsar's Michigan helium interests, including the option covering approximately 488,090 gross acres of mineral rights in Michigan's Upper Peninsula. The option covers non-hydrocarbon gases (including helium-4, helium-3, carbon dioxide and hydrogen) and provides Pulsar with the flexibility to evaluate a district-scale geological system before progressively high-grading the most prospective areas.

Pulsar's strategy at the Falcon project is to apply the disciplined technical workflow developed at its flagship Topaz project in Minnesota to a large land position with comparable ancient Precambrian basement geology and structural architecture. The integrated interpretation of gravity, magnetic, radiometric, geological and geochemical data sets is expected to support the identification and ranking of prospective structures and inform the location of subsequent exploration activities.

About Pulsar Helium Inc.

Pulsar Helium is a publicly traded company quoted on the AIM (Alternative Investment Market) of the London Stock Exchange (United Kingdom) and listed on the TSX Venture Exchange with the ticker PLSR (Canada) as well as on the OTCQB with the ticker PSRHF (United States). Pulsar's portfolio consists of its flagship Topaz helium project in Minnesota, the Falcon project in Michigan (both in the United States) and the Tunu helium project in Greenland. Pulsar is the first mover in both locations, with primary helium occurrences not associated with the production of hydrocarbons identified at each.

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