Pulsar Helium Advances Topaz Project with Record Pressures and New Drilling Campaign

• Jetstream #5 appraisal well completed to 3,839 feet with bottom-hole pressure of approximately 1,292 psi at 2,857 feet depth, the highest recorded at Topaz to date
• Jetstream #6 drilling commenced on 27 January 2026, targeting 3,000 feet initially with potential to deepen to 5,000 feet, located 1.3 miles southwest of Jetstream #1
• Flow testing and pressure build-up programme scheduled for Jetstream #3 and #4 wells starting late February 2026, expected to run six weeks per well
• Multiple pressurised gas zones encountered at Jetstream #5 at depths of 837 feet, 1,481 feet, and 2,857 feet
• Company plans to return to Jetstream #5 in April 2026 to complete full logging and flow testing operations

Pulsar Helium Inc. (AIM: PLSR, TSXV: PLSR, OTCQB: PSRHF) is a Canada-based helium exploration and development company with projects in North America and Greenland. The company's portfolio includes the Topaz Project in Minnesota, the Falcon Project in Michigan, and the Tunu Project in Greenland. Pulsar's projects target primary helium occurrences containing helium-4, helium-3, and carbon dioxide, not associated with hydrocarbon production. 

Completion of Jetstream #5 Appraisal Well with Record Bottom-Hole Pressure

Pulsar Helium has completed drilling of the Jetstream #5 appraisal well to a total depth of 3,839 feet. The well intersected multiple pressurised gas zones during drilling operations, with initial gas encountered at approximately 837 feet. A second gas-bearing interval was identified at approximately 1,481 feet, where preliminary calculations indicated a bottom-hole pressure of approximately 662 psi.

As drilling progressed deeper, an additional gas zone was intersected at approximately 2,857 feet, where calculated bottom-hole pressure increased to approximately 1,292 psi. This represents the highest pressure recorded to date across all wells drilled at the Topaz Project. Gas was consistently observed during drilling operations, particularly during pauses in circulation. The company reported that these observations indicate sustained gas presence and a strongly pressurised reservoir system.

While removing the drill string from the well at total depth, operational difficulties resulted in 1,239 feet of drill string being left in the well. The company plans to return to Jetstream #5 in April 2026 to retrieve or bypass the stuck segment, which will allow full logging and flow testing of the entire 3,839-foot formation.

Commencement of Jetstream #6 Drilling Programme

Drilling of the Jetstream #6 appraisal well commenced on 27 January 2026, following the mobilisation of the drill rig from Jetstream #5. The well has been designed with an initial target depth of 3,000 feet, with the option to deepen to 5,000 feet. The well is positioned 1.3 miles southwest of the Jetstream #1 discovery well. According to the company, the placement of Jetstream #6 is intended to test the lateral extent of the helium reservoir and potentially increase the size of the Topaz resource.

The company's multi-well appraisal programme is designed to map out the reservoir's extent, pressure regime, and gas composition, which will inform resource estimation and development planning. The drill rig transitioned from Jetstream #5 to Jetstream #6 following completion of the previous well.

Jetstream #6 represents a step-out well location from the company's previous drilling activities. The well's design allows for deepening beyond the initial target depth based on geological observations during drilling operations.

Planned Flow Testing and Pressure Build-Up Programme for Jetstream #3 and #4

Pulsar is preparing for a testing programme on the Jetstream #3 and #4 wells, anticipated to commence in late February 2026. The programme is expected to consist of a period of flow testing followed by a period of pressure build-up, with the test planned to run for approximately six weeks per well. The company will also conduct a gas sampling programme during the flow period under the direction of Peter Barry. Interim results will be released to the market as data is received and verified.

Flow testing measures the rate at which gas can be produced from the reservoir, whilst pressure build-up testing observes how reservoir pressure recovers after production ceases. These tests provide data on reservoir productivity and connectivity.

The testing programme on Jetstream #3 and #4 forms part of the company's broader appraisal work at Topaz. The data collected will inform resource estimation and support development planning for the project.

Looking Ahead

Pulsar Helium's immediate work programme at the Topaz Project includes completing the drilling of Jetstream #6, initiating the flow testing and pressure build-up programme on Jetstream #3 and #4 in late February, and returning to Jetstream #5 in April to complete logging and testing operations. The company reported that Jetstream #5 recorded a bottom-hole pressure of approximately 1,292 psi at 2,857 feet, the highest pressure recorded to date at Topaz. The ongoing multi-well appraisal programme is designed to map the reservoir's extent, pressure regime, and gas composition to inform resource estimation and development planning.