Pulsar Helium Contracts Xcalibur to Fly High-Resolution Survey Over Falcon Helium Project in Michigan

• Subsidiary Pulsar Helium (MI) Inc. has signed with Xcalibur MPH (Canada) Ltd for an airborne gravity gradiometry and magnetic survey over an initial priority area at Falcon.
• Survey lines will be spaced 500 metres apart, with tie lines every 5,000 metres, at a planned height of about 165 metres above the ground.
• A U.S. Geological Survey magnetic and radiometric dataset released on September 24, 2026 covers a large portion of the project at no acquisition cost to the company.
• The exclusive exploration option at Falcon covers non-hydrocarbon gases including helium-4, helium-3, carbon dioxide and hydrogen.
• The work applies the exploration methodology from the company’s flagship Topaz Project in Minnesota to comparable geology in Michigan.

Pulsar Helium Inc. (AIM:PLSR, TSXV:PLSR, OTCQB:PSRHF) is a Canada-based primary helium company. It focuses on helium found on its own rather than produced alongside oil and gas. Its portfolio includes the flagship Topaz helium project in Minnesota, the Falcon project in Michigan and the Tunu helium project in Greenland. The company is the first mover at its project locations, where primary helium occurrences not associated with hydrocarbon production have been identified.

Xcalibur FALCON Survey Contracted Over 14,727 Line Kilometres at Falcon Project

Xcalibur will use its FALCON airborne gravity gradiometer together with high-precision magnetic instruments. The same system was previously used at the Topaz Project. Gravity gradiometry measures small differences in the pull of gravity caused by variations in rock density underground. Magnetic readings show how rocks respond to the Earth’s magnetic field. Together, the data are used to map rock types and structural features such as faults.

Survey lines will run northwest to southeast. Tie lines, which are cross lines used to check and align the data, will run northeast to southwest. Flying height is subject to reconnaissance and a final on-site safety assessment. The aircraft will also carry laser-scanning, radar-altimeter and GPS equipment to correct for terrain and support accurate positioning.

CEO Thomas Abraham-James said:

“Signing this airborne survey contract marks an important step in advancing Falcon from district-scale land assembly into systematic target generation. The planned FALCON gravity gradiometry and magnetic program will provide a new, high-resolution view of the subsurface across our initial priority area, while the newly released Earth MRI magnetic and radiometric survey gives us substantial complementary regional data at no acquisition cost to Pulsar. Together, these datasets will help us efficiently rank targets and direct the next phase of work as we apply the disciplined, data-led approach developed at Topaz in Minnesota to comparable geology in Michigan.”

USGS Earth MRI Dataset to Support Target Generation Across the 488,090-Acre Land Position

The USGS dataset was funded by the Earth Mapping Resources Initiative (Earth MRI). It was designed with the Michigan Geological Survey and acquired during 2025, and it covers much of Michigan’s Upper Peninsula and neighbouring northern Wisconsin. Radiometric surveys measure natural gamma radiation from rocks and soils near the surface, which helps distinguish between rock types.

The regional programme collected approximately 216,000 line kilometres of data across about 38,400 square kilometres. It was flown at around 100 metres above the ground. Flight lines were spaced 150 metres apart in the western block and 400 metres apart in the eastern block.

Pulsar Helium will combine this regional data with the more detailed Xcalibur results. The aim is to interpret rock variations, geological contacts and structures across the wider project area. The results will also be integrated with geological mapping and geochemical work to support target selection and the allocation of follow-up spending.

Topaz Exploration Approach Applied to Comparable Basement Geology in Michigan

The survey is designed to test whether the geology behind the company’s exploration model at Topaz extends into Michigan. That model is built on ancient Precambrian basement rocks and their structural setting. Basement geology refers to the old crystalline rock lying beneath younger rock layers.

The Falcon option allows Pulsar Helium to assess a district-scale geological system first. The company can then progressively narrow its focus to the most prospective areas. Mapping differences in rock density, rock type and structure across the priority area is intended to identify and rank the strongest features for follow-up exploration and future drilling.

At Topaz, un-risked contingent and prospective helium volumes have been defined. Applying the same technical workflow at Falcon is intended to turn the project’s scale into a defined pipeline of primary helium targets.

Milestones and Next Steps

Flying is expected to begin in mid-Q4 2026, subject to operational conditions. Data will be reviewed progressively during acquisition. Preliminary results are expected after flying is completed, followed by final processed products once detailed quality assurance and processing are finished. The interpreted results will then be used to rank targets and determine the next phase of exploration at Falcon.

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