Pulsar Helium Secures 59,100 Acres in Minnesota Through Quantum Acquisition

• Acreage expansion: The acquisition adds 59,100 gross acres of exclusive mineral rights for non-hydrocarbon gases, representing approximately a 1,000% increase to Pulsar's Minnesota holdings.
• Location: The acreage is located in St. Louis and Itasca Counties, to the west of the Topaz project, within a sedimentary basin overlying Archaean crystalline basement.
• Transaction structure: Initial 80% stake valued at US$400,000, payable in Pulsar shares through five equal monthly instalments following TSX Venture Exchange approval.
• Option agreement: Pulsar has an 18-month option to acquire the remaining 20% interest for an additional US$400,000 in company shares under the same pricing terms.
• Development timeline: The company states the acquisition is intended for future exploration activities, with current focus remaining on Topaz project development.

Pulsar Helium Inc. (AIM: PLSR, TSXV: PLSR, OTCQB: PSRHF) is a publicly traded helium project development company with operations at the Topaz helium project in Minnesota, USA, and the Tunu helium project in Greenland. The company holds exclusive leases in both locations where helium occurrences have been identified that are not associated with hydrocarbon production.

Definitive Agreement to Acquire Quantum Hydrogen Inc. and Minnesota Mineral Rights

Pulsar has signed a definitive agreement with Oscillate plc to acquire up to 100% of Quantum Hydrogen Inc., which holds mineral rights covering 59,100 gross acres in St. Louis and Itasca Counties, Minnesota. The agreement supersedes a non-binding term sheet announced on 2 September 2025. The mineral rights are exclusive to non-hydrocarbon gases, covering helium and hydrogen within the acreage.

The acquired acreage is situated within a sedimentary basin overlying Archaean crystalline basement, the same helium source rock type present at the Topaz project. Whilst Topaz represents a helium discovery within fractured basement, the newly acquired acreage represents a different geological setting where helium generated in basement granites has migrated into overlying sedimentary reservoirs sealed by mudstone and siltstone units.

Quantum holds the lease option for the assets on its balance sheet with a value of approximately US$296,000. The company notes that Neil Herbert, a Pulsar director, is a minority shareholder in Oscillate and has abstained from participating in board deliberations and voting on the transaction.

Transaction Terms and Option for Full Ownership

Under the agreement, Pulsar will acquire 80% of Quantum's issued share capital in exchange for new Pulsar common shares valued at US$400,000. The consideration shares will be issued in five equal monthly tranches of US$80,000 each over a five-month period commencing upon receipt of TSXV approval. The number of shares in each tranche will be determined by the 30-day volume-weighted average price of Pulsar shares on the TSXV prior to each issuance, subject to the minimum price allowable by the exchange.

Pulsar has been granted an option to acquire the remaining 20% of Quantum's shares from Oscillate within 18 months for an additional US$400,000 in Pulsar shares, issuable under the same terms and pricing mechanism. All shares issued in connection with the transaction will be subject to a four-month-and-one-day hold period from the date of issuance.

The transaction remains subject to TSXV acceptance. The agreement structure provides Pulsar with time to assess the exploration potential before committing to full ownership of Quantum.

Strategic Land Position Expansion Adjacent to Topaz Project

The acquisition increases Pulsar's gross acreage in Minnesota by approximately 1,000% upon completion. The acreage is located to the west of Pulsar's Topaz project, where recent testing at the Jetstream #1 appraisal well confirmed reservoir productivity with sustained flow rates of 7-8% helium and peak gas flow of approximately 1.3 million cubic feet per day. Laboratory analyses have also confirmed the presence of helium-3 in measurable concentrations at Topaz.

The newly acquired acreage shares geological characteristics with Topaz, including the same Archaean crystalline basement helium source rock. The acreage represents a conventional gas reservoir system compared to the fractured basement at Topaz. The company states that the acquisition will allow it to apply its subsurface knowledge developed at Topaz to the additional acreage.

The company has stated that it remains focused on becoming a helium producer at Topaz, with the additional acreage positioned as a long-term addition intended for future exploration activities. Drilling at Topaz includes the Jetstream #1 appraisal well, which reached total depth of 5,100 feet in January 2025, and the Jetstream #2 appraisal well, completed on 1 February 2025 at 5,638 feet total depth.

Next Steps and Development Timeline

Pulsar expects to receive TSX Venture Exchange approval for the transaction, after which the first tranche of consideration shares will be issued. The five-month payment schedule will then commence. Over the 18-month option period, the company will evaluate the exploration potential of the acquired acreage to determine whether to exercise the option for the remaining 20% interest. The company's near-term focus remains on advancing Topaz through a forthcoming multi-well drilling campaign.

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