Pulsar Helium Appoints Commercial Manager and Completes Jetstream 4 Drilling

• Cliff Cain, founder of Edelgas Group with over $100 million in negotiated gas supply agreements, appointed as Manager of Commercial and External Affairs
• Jetstream 4 drilling reached 3,000 feet depth on 25 November 2025, penetrating the interpreted helium-bearing interval
• Estimated bottom-hole pressure of approximately 887 psi recorded at 1,897 feet depth, subject to change pending final evaluation
• Drill rig relocating to Jetstream 5 location with 5,000-foot target depth, drilling expected to commence by 29 November 2025
• Downhole evaluation programme starting on both Jetstream 3 and 4 simultaneously, including wireline logging, flow testing, and pressure analysis

Pulsar Helium Inc. (AIM: PLSR, TSXV: PLSR, OTCQB: PSRHF) is a Canada-based primary helium development company. The company holds the Topaz helium project in northern Minnesota, United States, and the Tunu helium project in Greenland. Both projects involve primary helium occurrences not associated with hydrocarbon production.

Cliff Cain Appointed to Commercial Role

Pulsar has appointed Cliff Cain as Manager of Commercial and External Affairs on a full-time basis. Cain has over 15 years of experience across the helium, hydrogen, carbon dioxide, and specialty gas industries. He founded the Edelgas Group in 2019, an international gases advisory firm, and has negotiated more than $100 million in gas supply and offtake agreements during his career. Cain has relocated to Duluth, Minnesota to assume the role.

In the new position, Cain will oversee the company's commercial strategy, external partnerships, and industry relationships. His previous roles include senior positions at Matheson Tri-Gas, where he managed cryogenic gas portfolios and closed $70 million in multi-year supply agreements, and at Praxair (now Linde), where he oversaw a $40 million specialty gases portfolio serving aerospace, semiconductor, healthcare, and government sectors.

President and CEO Thomas Abraham-James commented:

"Cliff's decision to join Pulsar full-time is a strong vote of confidence in our mission and direction. He is one of the most respected strategists in the industrial gas industry, and his decades of experience and market insight will be invaluable as we advance Topaz toward final investment decision."

Cain founded the Edelgas Group and developed it into a consultancy advising helium and hydrogen projects. His work has included developing risk management programmes for end-users and advising federal initiatives on gas sourcing and pricing transparency. He pioneered market data transparency tools, including global helium pricing indices. As a United States Marine Corps veteran, Cain speaks at industry forums about helium applications in semiconductor manufacturing, medical technology, and aerospace.

Jetstream 4 Reaches Total Depth

Jetstream 4, an appraisal well at the Topaz project, reached total depth of 3,000 feet on 25 November 2025, penetrating the interpreted helium-bearing interval. During drilling, the well encountered pressurised gas with an estimated bottom-hole pressure of approximately 887 psi at a depth of 1,897 feet. The company notes this figure is subject to change when final bottom-hole and wellhead pressures are obtained during evaluation. This compares to previously reported pressure of approximately 674 psi at 1,457 feet depth, announced on 18 November 2025.

The drill rig is being relocated to the Jetstream 5 location, approximately 1.8 miles northeast of Jetstream 1, with a target depth of 5,000 feet. Drilling at Jetstream 5 is expected to commence by 29 November 2025. The company is conducting a multi-well drilling campaign with up to 10 wells planned to delineate the Topaz reservoir.

Previous drilling activity at Topaz includes Jetstream 1, which reached total depth of 5,100 feet in January 2025, and Jetstream 2, which completed at 5,638 feet on 1 February 2025. Jetstream 3 reached total depth on 7 November 2025, with a calculated bottom-hole pressure of approximately 960 psi during drilling. In August 2025, Jetstream 1 was flow-tested using a wellhead compressor, delivering a peak gas flow rate of approximately 1.3 million cubic feet per day with sustained flow of 7-8% helium (as helium-4).

Downhole Evaluation Programme Commencing

Pulsar will initiate a downhole evaluation programme on both Jetstream 3 and Jetstream 4. The company has decided to conduct testing on both wells simultaneously to reduce mobilisation costs. The evaluation will include open-hole wireline logging, flow testing, and pressure build-up analysis. Core and gas samples from both wells will be analysed to determine gas composition and helium content.

The laboratory analysis will test for the presence of helium-3 isotope, which was previously detected at the Topaz field. Laboratory analyses have confirmed the presence of helium-3 in measurable concentrations, representing one of the highest naturally occurring helium-3 values publicly reported in a terrestrial gas reservoir, according to the company. The testing programme will determine if Jetstream 3 and 4 exhibit a similar helium-3 signature.

The evaluation programme follows standard industry practice for helium projects, where understanding reservoir behaviour and gas quality is conducted before committing to production infrastructure. Flow testing provides data on well productivity, whilst pressure build-up analysis helps determine reservoir connectivity and size. The company will integrate data from Jetstream 3 and 4 with earlier results from Jetstream 1.

Next Steps

The drill rig is being relocated to Jetstream 5, with drilling expected to commence by 29 November 2025. The downhole evaluation of Jetstream 3 and 4 will provide reservoir data to support resource estimates. Laboratory analysis will determine helium-3 content in the two wells. The company continues its multi-well drilling campaign with up to 10 wells planned at the Topaz project.

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