Pulsar Helium Advances Topaz Project with Strong Well Performance and Major Drilling Contract

• Flow Test Results: Jetstream #1 well achieved peak gas flow of 1.3 million cubic feet per day under wellhead compression, compared to 821,000 cubic feet per day in the 2024 compression test
• Drilling Contract: Master Services Agreement signed with Timberline Drilling for up to ten wells targeting depths of 3,937 feet, with operations starting late September 2025
• Gas Quality: Jetstream #1 produced dry gas with no formation water during flow testing
• Production Modelling: Chart Industries will use Jetstream #1 dataset to model production scenarios for helium and co-produced CO₂
• Programme Readiness: Permits secured for initial three drilling locations with $70,000 advance payment made to secure rig availability

Pulsar Helium Inc. (AIM: PLSR, TSXV: PLSR, OTCQB: PSRHF) is a publicly traded helium project development company. The company holds exclusive leases at two locations: the Topaz helium project in Minnesota, USA, and the Tunu helium project in Greenland.

Pulsar operates as the first mover in both locations with primary helium occurrences not associated with hydrocarbon production. The company's portfolio focuses on helium deposits where concentrations have been identified above the 0.3% economic threshold.

Jetstream #1 Flow Test Results

Jetstream #1 was drilled to 5,100 feet in January 2025 and underwent flow and pressure testing following completion. Natural gas flow measured approximately 501 thousand cubic feet per day on a 38/64″ choke at 30 psi wellhead pressure. A wellhead compressor was deployed to reduce flowing pressure and measure maximum deliverability.

Under compression, Jetstream #1 achieved a peak gas flow rate of approximately 1.3 million cubic feet per day. The well produced 100% gas with no formation water detected during testing. Flow rates under compression exceeded the 821,000 cubic feet per day recorded in early 2024 from the shallower wellbore.

Gas samples were collected over a nine-day interval, totalling 14 samples sent for laboratory analysis. The flow test data, including rates, pressures, and gas composition samples, will be used for development planning. No further flow testing is planned for Jetstream #1 at this time.

Multi-Well Drilling Programme Launch

Pulsar signed a Master Services Agreement with Timberline Drilling Inc. to drill up to ten core wells at the Topaz project. Each well will target depths up to 3,937 feet to penetrate the helium-bearing formation encountered by the Jetstream wells. Drilling is scheduled to begin in late September 2025.

Timberline will mobilize a CS 3000 core drill rig for continuous 24/7 operations with rotating crews. The company has drilled over 6.4 million feet of core in the past six years and operates approximately 85 drill rigs with more than 300 employees. Operations will use a local crew from Virginia, Minnesota, located 40 minutes from Topaz.

Core drilling will retrieve rock samples through target zones and utilize mudlogging systems and downhole logs upon completion. The programme aims to delineate the extent and productivity of the helium reservoir at Topaz. Pulsar has budgeted for the programme and paid a $70,000 advance for the blowout preventor to secure rig and crew availability.

Chart Industries Production Modelling Partnership

Pulsar will deliver the Jetstream #1 dataset to Chart Industries (NYSE:GTLS) under their existing agreement. Chart's engineering team will perform production scenario modelling for helium and co-produced CO₂ to guide gas processing and liquefaction equipment design. The modelling will include sizing of compressors, separation units, and liquefaction equipment.

Chart Industries is described in the release as a leading provider of gas processing technology. The partnership agreement covers design of an integrated solution for helium production and CO₂ capture at Topaz. With the Jetstream #1 data now collected, no further flow testing is planned for this well.

Jetstream #2 appraisal well was drilled to 5,638 feet and showed initial gas flow of 40-50 thousand cubic feet per day with shut-in pressure of 151 psi. Sustained flow was restricted by wellbore blockages, and the well's performance is under review to determine next steps.

Outlook and Next Steps

The multi-well drilling programme will commence in late September 2025 with continuous 24/7 operations planned until completion. Results from the core wells will provide data on reservoir continuity and identify areas for future production development. Up to ten wells are planned, with locations adjustable based on results obtained during the programme.

All permits are in place for the initial three planned well locations. Laboratory analysis of the 14 gas samples from Jetstream #1 will provide composition data for Chart Industries' production modelling work. Jetstream #1 is expected to remain shut in while development plans are finalised and may serve as a future production well.

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