Pulsar Helium Expands Michigan Footprint with 488,090-Acre Exploration Option

• Pulsar Helium has entered into an exclusive three-year option agreement with Keweenaw Land Association (KLA), covering 488,090 gross acres of mineral rights in Michigan's Upper Peninsula, effective 31 March 2026.
• The option covers rights to explore for non-hydrocarbon gases, including helium-4, helium-3, carbon dioxide, and hydrogen.
• Combined with 5,742 acres previously acquired, the agreement establishes the Falcon Project as one of the largest potential non-hydrocarbon gas exploration footprints in the Upper Midwest.
• Pulsar Michigan is committed to spending a minimum of US$1.0 million on exploration activities over the three-year option period, with maintenance fees capped at approximately US$580,000.
• A staged surrender schedule allows the company to progressively reduce its retained acreage, with the ability to lock in up to 20,000 net acres for a formal development lease upon exercising the option.

Pulsar Helium Inc. (AIM: PLSR, TSXV: PLSR, OTCQB: PSRHF) is a Canada-based primary helium exploration and development company, meaning it seeks helium independently rather than as a by-product of oil and gas production. Its portfolio spans three projects: the flagship Topaz Project in Minnesota, where the company has achieved a 100% technical well success rate and confirmed high-grade helium concentrations including the rare helium-3 isotope; the Falcon Project in Michigan; and the Tunu Project in Greenland. The company describes itself as the first mover in primary helium exploration at each of its project locations.

Exclusive Three-Year Option Agreement with Keweenaw Land Association

Through its wholly owned subsidiary, Pulsar Helium (MI) Inc., Pulsar has entered into an Option to Lease Non-Hydrocarbon Gas Agreement with Keweenaw Land Association, Ltd. (KLA), a mineral and land management company with more than 1.3 million acres of mineral rights across Michigan's western Upper Peninsula and northern Wisconsin. The agreement grants Pulsar Michigan exclusive rights to explore for non-hydrocarbon gases across 488,090 gross acres for a period of three years, commencing 31 March 2026.

The option covers helium-4, helium-3, carbon dioxide, and hydrogen across the full acreage position. The agreement also incorporates 5,742 gross acres previously acquired through the company's purchase of Hybrid Hydrogen Inc., announced on 5 January 2026, which have been consolidated under the Falcon Project alongside the new KLA option acreage.

CEO Thomas Abraham-James commented: 

"This agreement with Keweenaw Land Association marks a transformative step for Pulsar and for our Falcon Project in Michigan. The scale of this optioned land position, nearly half a million acres of exclusive helium exploration rights, is exceptional and reflects the quality of KLA as a partner and the strength of the geological thesis we have developed for the Upper Peninsula."

Staged Acreage Surrender Schedule and Option Exercise Terms

The agreement includes a staged acreage surrender schedule over the three-year term. Pulsar Michigan is required to surrender between 25% and 75% of the total area before the end of year one, and a further 25% by the end of year two. This structure allows the company to reduce its retained acreage progressively as exploration results inform where to focus activity.

Option maintenance fees are calculated on a per-acre basis against retained acreage, with total payments capped at approximately US$580,000 over the three-year period. Separately, Pulsar Michigan has committed to a minimum of US$1.0 million in exploration expenditures, covering geochemical sampling (the testing of soil and rock for chemical signatures of helium), geophysical surveys, geological studies, and exploratory drilling.

At any point during the three-year term, Pulsar Michigan may exercise the option and select a final retained area of up to 20,000 net acres, at which point the company and KLA would enter into a formal Non-Hydrocarbon Gas Lease. The terms of any such lease would include payments per leased acre and royalties payable to KLA.

Falcon Project: Geological Prospectivity and Exploration Strategy

Michigan's Upper Peninsula contains ancient rock formations known as Precambrian basement rocks, the same rock type associated with primary helium accumulations elsewhere in the North American craton. According to the company, the Upper Peninsula has not previously been subject to any primary helium exploration activity.

Pulsar states that the geological setting of the Upper Peninsula shares characteristics with helium-bearing systems identified elsewhere in North America, and that experience gained at the Topaz Project in Minnesota provides a basis for evaluating Michigan's helium potential. The company intends to apply the same exploration methodology used in Minnesota to the Falcon Project.

CEO Thomas Abraham-James noted: 

"Our work at the Topaz Project in Minnesota has demonstrated that primary helium systems can be discovered and confirmed with a disciplined, technically rigorous approach, and we intend to bring exactly that same methodology to Falcon. Michigan's Precambrian basement geology is highly prospective, and the region has not seen any activity for primary helium exploration. We have assembled a district-scale position that gives us the flexibility to evaluate a very large geological system before high-grading our focus to the most compelling targets."

Outlook

With the Falcon Project covering approximately 494,000 gross acres in Michigan's Upper Peninsula, Pulsar has outlined a programme of geochemical sampling, geophysical surveys, and geological studies as near-term exploration activity. These results will inform the staged acreage surrender decisions required at the end of years one and two. The company retains the option to exercise its lease selection and advance towards a formal development agreement with KLA at any point within the three-year window.