Helium Evolution Announces Start-Up of Soda Lake Helium Purification Facility

Executive Summary

• Helium Evolution Inc. announced the successful commissioning of its Soda Lake helium processing facility in Mankota, Saskatchewan.
• The facility, in which HEVI holds a 20% working interest and is jointly operated with North American Helium Inc., is designed to process 12 million standard cubic feet per day of raw gas sourced from three connected helium wells.
• Management highlighted that the start‑up marks the transition from an exploration‑focused company to an active helium producer, positioning HEVI for meaningful cash flow and long‑term shareholder value.

Key Details

• Facility Location & Ownership: Soda Lake Facility at 1‑2‑4‑9 W3 (Mankota area); HEVI holds a 20% working interest; joint project with North American Helium Inc. (NAH).
• Processing Capacity: Designed for 12 MMscf/d of raw gas.
• Supply Source: Initial feed from three helium wells connected via a dedicated pipeline gathering system.
• Funding: The project is fully funded (specific amount not disclosed).
• Strategic Impact: Represents HEVI’s shift to active helium production, expected to generate “meaningful cash flow” and enhance long‑term shareholder value.
• Future Plans: Management indicated ongoing development of additional assets within the broader helium district in southern Saskatchewan.

Notable Quotes

“The start‑up of the Soda Lake Facility represents the transformation of HEVI from an exploration‑focused company to an active participant in helium production.” – Jim Baker, Interim President & CEO

Materiality Assessment: Material – Positive (significant operational milestone that materially changes the company's business model and expected cash flow).