Pulsar Helium Encounters Gas at Fifth Consecutive Topaz Well

• Jetstream #5 intersected pressurised gas at 837 feet and 1,481 feet with preliminary bottom-hole pressure of approximately 662 psi, with visible gas observed at surface
• Five consecutive Jetstream wells have encountered pressurised gas, maintaining 100% drilling success rate across the appraisal programme
• Jetstream #5 located 1.8 miles northeast of discovery well Jetstream #1, extending the proven area of gas-bearing formations
• Down-hole wireline testing completed at Jetstream #3 and #4 in December 2025, including formation microresistivity imaging, dipole sonic, resistivity, gamma, and neutron density logs
• Flow testing, gas sampling, and pressure build-up testing at Jetstream #3 and #4 scheduled for January 2026, subject to equipment availability

Pulsar Helium Inc. (AIM: PLSR, TSXV: PLSR, OTCQB: PSRHF) is a primary helium exploration and development company with projects at its Topaz site in Minnesota, USA, and Tunu in Greenland. The company holds exclusive leases at both locations, where helium occurs independently rather than as a byproduct of hydrocarbon production.

Jetstream #5 Gas Encounter and Drilling Progress

Jetstream #5, spudded on 28 November 2025, encountered pressurised gas at two depths during drilling operations. At approximately 1,481 feet, crew members observed gas bubbling through drilling mud at surface. The preliminary calculated bottom-hole pressure at this depth measured approximately 662 psi, though this reading may be adjusted as drilling continues and final measurements are obtained at greater depths.

The well is positioned approximately 1.8 miles northeast of Jetstream #1, the original discovery well. Drilling operations continue on a 24-hour schedule using HQ core drilling methodology, which retrieves 63.5 millimetre diameter continuous rock samples. The well is advancing towards its planned total depth of 5,000 feet.

Upon reaching total depth, the company will conduct open-hole wireline logging, flow testing, and pressure build-up analysis. Laboratory analysis of gas samples and core material will also be performed. The company noted it has been sequencing well completion and testing activities to manage costs and efficiency.

President and CEO Thomas Abraham-James stated:

"To encounter pressurised gas once again in Jetstream #5 is both validating and exciting for our team. With all five Jetstream wells confirming gas, we now have a consistent track record that underscores the pervasive nature of the helium reservoir at Topaz."

Appraisal Programme Results Across Five Wells

All five Jetstream appraisal wells drilled to date have encountered pressurised gas. Previous wells in the programme include Jetstream #1, which averaged 8.1% helium during flow testing, and Jetstream #2, which averaged 5.6% helium. Both wells confirmed the presence of helium-3, a rare isotope, in gas samples. The Topaz Project also contains carbon dioxide alongside helium-4 and helium-3.

The wells are distributed across the project area at varying distances from the discovery well. This drilling pattern is designed to map the reservoir's extent, pressure characteristics, and gas composition. The data collected from multiple well locations will inform resource estimation and development planning.

Mr Abraham-James commented:

"Each successful well brings us one step closer to our goal of establishing Topaz as a major primary helium source in North America. We will continue to advance the programme diligently, collecting high-quality data from core samples and forthcoming tests to guide the next phases of this project's development."

Down-Hole Testing at Jetstream #3 and #4

On 6-7 December 2025, Pulsar completed down-hole wireline testing at Jetstream #3 and Jetstream #4, conducted by Extreme Wireline, Inc. The testing suite included formation microresistivity imaging (detailed imaging of rock layers and fractures), dipole sonic measurements (rock properties and cement integrity), resistivity measurements (fluid content indicators), gamma ray logging (rock type identification), and neutron density logs (porosity measurements).

The data collected from these tests has been sent for expert evaluation and interpretation. This analysis will support detailed reservoir characterisation ahead of the planned flow testing phase.

The next phase of work at Jetstream #3 and #4 will include flow testing, gas sample collection for laboratory analysis (including helium-3 measurements), and pressure build-up testing. This testing programme is expected to occur in January 2026, subject to equipment scheduling. Results will provide inputs for the next iteration of the Topaz resource model and will help quantify production potential at each well location.

Next Steps

Pulsar continues drilling operations at Jetstream #5 towards the planned total depth of 5,000 feet. Following completion, the well will undergo wireline logging and testing procedures similar to those conducted at previous wells. Flow testing and pressure analysis at Jetstream #3 and #4 are scheduled for January 2026. The combined data from these activities will be used to update the Topaz resource model and inform subsequent development decisions.

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