Pulsar Helium Partners With Lunar Helium-3 Mining to Assess Helium-3 Recovery at Minnesota’s Topaz Project

• Pulsar Helium has signed an evaluation agreement with Lunar Helium-3 Mining, LLC (LH3M) to test LH3M’s proprietary helium-3 separation and recovery technology using data and gas samples from the Topaz Project in Minnesota.
• Two U.S. federal laboratories previously confirmed helium-3 concentrations of approximately 11.2 to 11.9 parts per billion in raw gas from the Jetstream #1 well.
• Helium-3 currently sells for more than US$18 million per kilogram, and U.S. supply depends on a single government source.
• The staged programme has an initial working target of at least 95% helium-3 purity and may lead to a controlled pilot and potential commercial deployment.
• Pulsar retains ownership of all Topaz samples and any helium-3, helium and other materials derived from them.

Pulsar Helium Inc. (AIM: PLSR | TSXV: PLSR | OTCQB: PSRHF) is a Canada-based publicly traded helium exploration and development company. Its portfolio includes the flagship Topaz project in Minnesota and the Falcon project in Michigan, both in the United States, as well as the Tunu project in Greenland. Pulsar is the first mover at its project locations, where it has identified primary helium, meaning helium that occurs independently rather than as a by-product of oil and gas production.

Evaluation Agreement Builds on Federally Verified Helium-3 Results at Topaz

Pulsar has entered into an evaluation agreement with LH3M, a U.S.-based company with proprietary technology for separating, concentrating and recovering helium-3. Using Topaz data and gas samples, the parties will assess technical compatibility, recovery performance, product purity, operating requirements, scale-up considerations and preliminary economics.

The agreement follows results announced in January 2026, when the U.S. Geological Survey Noble Gas Laboratory and Lawrence Livermore National Laboratory independently analysed raw gas from the Jetstream #1 well. Both laboratories confirmed helium-3 concentrations of approximately 11.2 to 11.9 parts per billion, closely matching earlier results from the Woods Hole Oceanographic Institution.

Pulsar CEO Thomas Abraham-James said:

“Our goal is straightforward: to unlock the helium-3 potential at Topaz. Independent verification by the USGS and Lawrence Livermore National Laboratory established a strong scientific foundation, and this agreement gives us the opportunity to evaluate how LH3M’s technology can recover and concentrate helium-3 from Topaz gas.”

Helium-3 Demand Grows as U.S. Supply Remains Limited

Helium-3 is a rare, high-value isotope (a variant of helium with a different atomic structure). It is used as a coolant in dilution refrigerators, specialised cooling systems that allow many leading quantum computers to operate at about 0.01 kelvin, just above absolute zero. Secure access to helium-3 is considered critical to expanding these systems and supporting U.S. quantum capability and national security.

U.S. supply currently comes from one government source. Helium-3 is recovered from the decay of tritium, a radioactive form of hydrogen, at the Department of Energy’s Savannah River Site, with sales handled by the DOE Isotope Program. LH3M estimates annual U.S. production at approximately 1 to 2 kilograms and available inventory at potentially less than 5 kilograms. Exact figures are not publicly disclosed, and LH3M considers this supply insufficient for projected commercial quantum-computing demand.

LH3M CEO Dr. Chris Salvino said:

“We see a collapsing helium-3 supply chain just as quantum computing is moving toward commercial scale. Helium-3 is the coolant that enables many leading quantum systems to operate, and securing its supply is a national security priority as the United States competes with China for quantum leadership.”

Staged Programme Could Lead to Pilot and Commercial Deployment

The programme begins with a desktop evaluation, a review of existing Topaz gas composition and isotope data. LH3M will then prepare a laboratory evaluation plan covering technology, equipment, test methods, samples, success criteria, budget, schedule, and safety and regulatory requirements. The second phase is expected to measure purity, recovery, mass balance (accounting for all gas processed) and repeatability, with an initial working target of at least 95% helium-3 purity.

If laboratory testing is successful, the parties will discuss a controlled pilot under a separate agreement and may negotiate commercial terms for deploying LH3M’s technology at Topaz. If economic recovery is demonstrated, Topaz could become one of the first, if not the only, commercial U.S. sources of newly recovered helium-3 from a natural gas deposit, supplementing government-derived supply.

Pulsar retains ownership of all Topaz samples and any materials derived from them. Quantum computing and national security are the immediate reasons for evaluating additional supply. Helium-3’s potential future use as a fusion fuel is a longer-term opportunity.

Milestones and Next Steps

Near-term work centres on completing the desktop evaluation, finalising LH3M’s laboratory evaluation plan and agreeing the Phase 2 success criteria. Laboratory results will determine whether the parties advance to pilot discussions and, potentially, a definitive commercial agreement. Pulsar CEO Thomas Abraham-James and Pulsar’s helium-3 expert, Dr. Peter Barry, attended the 4th NASA-USGS Offworld Resources Workshop from 13 to 15 October 2026. LH3M CEO Dr. Chris Salvino presented there on the global helium-3 supply chain.

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