Pulsar Helium Reports 7-8% Helium Concentrations at Topaz Project Wells

• Laboratory analysis confirms 7-8% helium concentrations at both Jetstream #1 and #2 wells
• Jetstream #1 achieved peak flow rate of 1.3 million cubic feet per day under compression
• Gas composition shows 75-80% CO₂ content alongside helium production
• Jetstream #2 recorded initial shut-in pressure of 151 psi, higher than Jetstream #1
• Multi-well drilling campaign scheduled for early October 2025

Pulsar Helium Inc. (AIM: PLSR, TSXV: PLSR, OTCQB: PSRHF) is a primary helium company with assets in Minnesota and Greenland. The company holds the Topaz helium project in Minnesota, USA, and the Tunu helium project in Greenland. Pulsar operates as first mover in both locations with exclusive leases at the Minnesota site.

Sustained Helium Concentrations

Laboratory testing by Isotech confirmed helium concentrations of 7-8% by volume in gas streams from both Jetstream wells. These concentrations exceed typical commercial thresholds of approximately 0.3% helium. The analysis covered extended flow periods at Jetstream #1, demonstrating stable helium content over time.

Gas composition analysis shows methane content below 3%, with the remainder consisting of CO₂ at 75-80% levels. The gas flows without formation water, containing helium, CO₂, and trace gases. Flow testing was conducted by Sabre Production Services LLC.

Both wells penetrated the interpreted helium-bearing reservoir system, with Jetstream #1 reaching 5,100 feet total depth and Jetstream #2 reaching 5,638 feet total depth. Drilling of both appraisal wells was completed in early 2025.

Well Performance and Flow Testing

Jetstream #1 delivered natural flow rates up to 501 thousand cubic feet per day during open flow testing on a 38/64-inch choke at 30 psi well-head pressure. The well maintained production of 150-300 thousand cubic feet per day for 12-18 hour periods on smaller choke sizes. Under surface compression, peak flow reached 1.3 million cubic feet per day.

Jetstream #2 showed initial helium concentrations of 7-8% in gas samples, matching grades from Jetstream #1. Initial shut-in pressure measured approximately 151 psi, exceeding pressures observed at Jetstream #1. Sustained flow from Jetstream #2 was limited due to persistent wellbore blockages during testing.

Thomas Abraham-James, President & CEO, stated:

"We are very encouraged by the consistency of helium grades across both Jetstream wells, with favorable CO₂ levels expected to simplify processing and enhance product yields."

The company is designing a targeted cleanout operation for Jetstream #2 to address wellbore restrictions.

CO₂ Content and Gas Composition

Gas analysis shows CO₂ concentrations of 75-80% in the produced gas stream. The company notes this CO₂ concentration exceeds 70%, which may present byproduct utilisation opportunities. The low methane content eliminates hydrocarbon processing requirements.

The gas composition allows focused extraction of helium and CO₂ as the primary components. Processing requirements are simplified compared to hydrocarbon-associated helium production due to the absence of oil and water in the gas stream.

Laboratory analysis was conducted at Isotech's facility in Champaign, Illinois. All testing followed standard industry procedures for gas composition analysis and flow rate measurement.

Development Timeline

The multi-well drilling campaign at Topaz is scheduled to commence in early October 2025. This programme aims to increase understanding of the helium reservoir and support the company's development strategy. Additional wells will provide data for resource estimation updates.

Abraham-James commented:

"These latest datasets further validate the Topaz Project's significant potential, with sustained helium concentrations of up to 8% at Jetstream #1 providing a robust foundation for future development."

The company will conduct further flow tests at Jetstream #2 following completion of the planned cleanout operation.

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