Pulsar Helium Advances Topaz Project with Chart Industries Engineering Agreement

• Engineering Agreement: Company signs Limited Notice to Proceed with Chart Industries for engineering and procurement activities at Topaz helium project
• Well Flow Results: Jetstream #1 well achieved 1.3 million cubic feet per day flow rate with dry gas and no formation water
• Processing Facility Design: Chart Industries will design integrated helium extraction and CO2 liquefaction plant
• Development Timeline: Final investment decision targeted for 2026 with full construction contract execution
• Additional Drilling: Multi-well drilling programme for up to ten core wells to begin late September 2025

Pulsar Helium Inc. (AIM: PLSR, TSXV: PLSR, OTCQB: PSRHF) is a helium project development company with two primary assets: the Topaz helium project in Minnesota, USA, and the Tunu helium project in Greenland. The company holds exclusive leases at both locations where primary helium occurrences have been identified that are not associated with hydrocarbon production. The company's development activities focus on exploration, appraisal and development of its helium assets.

Strategic Partnership and Engineering Commencement

Pulsar has signed a Limited Notice to Proceed agreement with Chart Industries, Inc. for engineering and procurement activities at the Topaz project. This agreement follows the Letter of Intent signed with Chart's subsidiary Earthly Labs in November 2024. Chart Industries will commence detailed engineering work for a helium recovery and CO2 capture facility.

Under the agreement, Chart is authorised to begin early engineering activities and place a deposit on a carbon capture unit. The company states that all work and payments under this limited authorisation will be credited toward the anticipated full plant construction contract in 2026. Chart will undertake design work for an integrated helium extraction and CO2 liquefaction plant.

The agreement enables Chart to place deposits on long-lead components whilst detailed facility design proceeds. According to the news release, this approach is intended to secure equipment in advance of the main project build phase and support the timeline for final purchase and sale agreement execution in 2026.

Well Performance and Technical Data

Recent flow testing at the Jetstream #1 appraisal well yielded a peak gas flow rate of approximately 1.3 million cubic feet per day under wellhead compression. The gas was dry with no formation water produced. Previous testing at this well had identified helium concentrations of 8.7% to 14.5%, above the 0.3% economic threshold referenced by the company.

The Jetstream #1 well was originally drilled to 2,200 feet in February 2024, then deepened to 5,100 feet in August 2025 before the recent flow testing. A second well, Jetstream #2, was completed in February 2025 to a total depth of 5,638 feet. Chart's engineers will use data from both wells for production scenario modelling and equipment selection.

The absence of formation water in the gas stream means the planned processing facility will not require significant dehydration equipment. Chart will use the well data to determine specifications for compressors, cryogenic separation units, and CO2 liquefiers for the processing facility design.

Project Development Timeline and Production Path

The company has executed a multi-well drilling contract for up to ten new core wells scheduled to begin in late September 2025. These wells are intended to increase understanding of the helium reservoir and support reserves estimation. The drilling programme will run alongside the engineering design work being undertaken by Chart Industries.

According to company guidance, a final investment decision on the Topaz project is targeted for 2026, subject to necessary financing being in place. This timing aligns with the expected execution of the full-scale construction and equipment purchase contract with Chart Industries. The LNTP agreement is designed to advance critical components ahead of this final investment decision.

The processing facility is planned to extract helium and capture CO2 from the gas stream. The company has not disclosed production targets or capacity specifications for the planned facility. Development progress will depend on results from the upcoming drilling programme and completion of the engineering design work.

Conclusion

Pulsar Helium has initiated engineering work for its Topaz project processing facility through the Chart Industries agreement whilst preparing to drill additional appraisal wells. The company targets a final investment decision in 2026 based on completion of reservoir appraisal and facility design work. Key near-term activities include the ten-well drilling programme beginning in late September 2025 and ongoing engineering design work by Chart Industries.

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