Pulsar Helium Mobilizes Drill Rig and Ancillary Equipment to Site at Topaz Project, Minnesota, USA

Executive Summary

• Pulsar Helium mobilized a drill rig and supporting equipment to the Topaz Project in Minnesota, with first well (Jetstream #3) slated to start later this week.
• Up to ten additional wells will be drilled at depths of 1,500‑3,900 ft to further delineate the helium‑bearing reservoir identified in earlier appraisal wells and flow‑tests.
• The campaign is intended to confirm reservoir geometry, continuity, and productivity, advancing Topaz toward commercial development and a 2026 final investment decision.

Key Details

• Rig Mobilization: Timberline Drilling Inc. will operate a Christensen CT20 rig (8,000 ft capacity) arriving Wednesday, 14 Oct 2025.
• Well Count & Depths: Up to ten wells targeting helium zones between ~450‑1,200 m (1,500‑3,900 ft). Final depths will be refined via geological modelling.
• Drilling Schedule: Continuous 24‑hour operation with rotating crews to maximize efficiency and minimize downtime.
• First Well – Jetstream #3: Expected spudding later this week; subsequent wells to follow in a phased program.
• Data Collection: Real‑time analysis of gas shows, core samples, and downhole measurements to update reservoir models and identify optimal production sites.
• Previous Results (Context):
• Jetstream #1 TD 5,100 ft (Jan 2025) – full reservoir penetration.
• Jetstream #2 TD 5,638 ft (Feb 1 2025).
• Flow‑test of Jetstream #1 (Aug 2025): peak 1.3 MMcf/d with sustained 7‑8 % He‑4; laboratory confirmation of measurable He‑3 concentrations – among the highest reported globally.
• Management Presence: President & CEO Thomas Abraham‑James, CFO, and Operations Manager on site overseeing preparations.
• Strategic Goal: Use drilling results to quantify Topaz’s helium resource, support a 2026 final investment decision, and strengthen U.S. helium supply chains.

Notable Quotes

“The mobilization of the drill rig signals the start of an exciting new phase at Topaz… Each well will bring us closer to quantifying the resource, advancing Topaz toward commercial development, and reinforcing Pulsar’s role in strengthening U.S. helium supply chains.” – Thomas Abraham‑James, President & CEO

Materiality Assessment: Material – Positive (the announcement provides substantive operational progress that could materially affect the company’s valuation and future cash flows).