Pulsar Helium Begins Drilling Fifth Appraisal Well at Topaz Project

• Jetstream #5 spudded November 28, 2025, with equipment relocated to a pad 1.8 miles northeast of Jetstream #1, targeting 5,000 feet depth at the Topaz project in Minnesota
• Jetstream #1 recorded 8.1% helium concentration, flowing naturally at 200,000 cubic feet per day average over seven days with 122 psi wellhead pressure and no formation water
• Jetstream #2 showed 151 psi shut-in pressure with helium concentrations up to 6.5%, flowing at 21,000 cubic feet per day during initial one-day testing
• Jetstream #3 and #4 recorded bottom-hole pressures of 960 psi and 887 psi respectively, with both wells awaiting flow testing and gas sampling to determine helium concentrations
• Helium-3 detected at Jetstream #1 in concentrations up to 14.5 parts per billion in produced gas samples

Pulsar Helium Inc. (AIM: PLSR, TSXV: PLSR, OTCQB: PSRHF) is a primary helium development company with two projects: the Topaz helium project in northern Minnesota, USA, and the Tunu helium project in Greenland. The company holds exclusive leases at Topaz, where helium occurs independently of hydrocarbon production.

Jetstream #5 Drilling Commencement and Location Details

Pulsar Helium commenced drilling operations at Jetstream #5 following completion of rigging-up operations on November 27, 2025. The well was spudded on November 28, 2025, after the drill rig and ancillary equipment were relocated to a pad located 1.8 miles (3 kilometres) northeast of Jetstream #1. The planned target depth is 5,000 feet (1,524 metres).

The location represents the fifth appraisal well in the company's drilling campaign at the Topaz project. Jetstream #1, the discovery well, reached a total depth of 5,100 feet in January 2025, penetrating the entire interpreted helium-bearing reservoir. The positioning of Jetstream #5 extends the geographical coverage of drilling operations across the lease area.

Upon reaching total depth, Jetstream #5 will undergo completion procedures before flow testing and gas sampling. The well data will contribute to the company's ongoing evaluation of the helium reservoir at Topaz. Previous wells have provided formation pressure data and gas composition analysis at various locations across the project.

Topaz Drilling Campaign Summary and Well Performance Data

Four appraisal wells have been completed at Topaz prior to Jetstream #5. Jetstream #1, completed January 13, 2025, reached 5,100 feet total depth and recorded helium-4 concentrations of 8.1% and carbon dioxide at 72.9%. The well demonstrated natural flow averaging 200,000 cubic feet per day over a seven-day test with 60 psi drawdown, with wellhead pressure of approximately 122 psi. Laboratory analysis identified helium-3 at concentrations up to 14.5 parts per billion. No formation water was encountered.

Jetstream #2, completed February 3, 2025, reached 5,638 feet total depth and recorded initial helium concentrations up to 6.5% with carbon dioxide at 79.8%. The well showed shut-in pressure of approximately 151 psi and natural flow of 21,000 cubic feet per day average during a one-day test with 60 psi drawdown. As with Jetstream #1, no formation water was present.

Jetstream #3 and #4, completed in November 2025, have not yet undergone flow testing. Jetstream #3 reached 3,507 feet total depth on November 7, with calculated bottom-hole pressure of approximately 960 psi. Jetstream #4 reached 3,000 feet total depth on November 25, encountering pressurised gas at 1,897 feet depth with estimated bottom-hole pressure of approximately 887 psi. Both wells penetrated the interpreted helium-bearing interval and recorded no formation water. Gas concentrations and natural flow rates remain to be determined pending testing programmes.

Jetstream #3 and #4 Testing Programme Status

Jetstream #3 reached total depth of 3,507 feet (1,069 metres) on November 7, 2025. During drilling, multiple pressurised gas zones were encountered, with calculated bottom-hole pressure of approximately 960 psi. The well is located approximately 0.6 miles north of Jetstream #1 and has been completed, awaiting downhole testing and gas sampling to determine helium concentrations and flow characteristics.

Jetstream #4 reached target depth of 3,000 feet (915 metres) on November 25, 2025, and was completed November 26. Pressurised gas was encountered at 1,897 feet (578 metres) depth, with estimated bottom-hole pressure of approximately 887 psi. The well penetrated the entire interpreted helium-bearing interval despite being the shallowest well in the drilling campaign. The location sits between Jetstream #1 and #2.

Flow testing and gas sampling for Jetstream #3 and #4 are scheduled to proceed following the completion of drilling operations at Jetstream #5. The testing will determine sustained helium concentrations, natural flow rates, and pressure characteristics at each well location.

Conclusion

Pulsar Helium has spudded Jetstream #5, the fifth appraisal well in its Topaz drilling campaign. Four completed wells have recorded helium concentrations ranging from 5.6% to 8.1% at Jetstream #1 and #2, with bottom-hole pressures of 887 psi to 960 psi measured at Jetstream #3 and #4. All wells to date have shown natural flow capability and absence of formation water. Testing programmes for Jetstream #3 and #4 will proceed to determine gas concentrations and flow rates at those locations, adding to the dataset from Jetstream #1 and #2 for resource estimation purposes.

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