Pulsar Helium appoints Cain as commercial manager

Executive Summary

• Pulsar Helium completed drilling of Jetstream No. 4 at its Topaz project in Minnesota, reaching total depth of 3,000 feet and encountering increased bottom-hole pressure estimates.
• The company appointed Cliff Cain as Manager of Commercial and External Affairs to strengthen commercial strategy and partnerships ahead of a final investment decision.
• The drill rig is relocating to Jetstream No. 5, with simultaneous downhole evaluation and testing planned for Jetstream No. 3 and No. 4 to assess helium content and reservoir productivity.

Key Details

• Jetstream No. 4 Completion: Reached total depth (TD) of 3,000 feet (914 metres) on November 25, 2025, successfully penetrating the full interpreted helium-bearing interval.
• Pressure Increase: Pressurized gas encountered at 1,897 feet (578 metres) with an estimated bottom-hole pressure of approximately 887 psi, an increase from the previously reported ~674 psi at 1,457 feet.
• Jetstream No. 5 Mobilization: Drill rig relocating to Jetstream No. 5, located 1.8 miles (2.9 km) northeast of Jetstream No. 1. Target depth is 5,000 feet (1,524 metres). Drilling expected to commence by November 29, 2025.
• Testing Strategy: Comprehensive downhole evaluation program starting on Jetstream No. 3 and No. 4 simultaneously to reduce mobilization costs. Activities include open-hole wireline logs, flow testing, and pressure buildup analysis.
• Laboratory Analysis: Core and gas samples will be analyzed for gas composition and helium content, specifically testing for helium-3 isotope presence.
• Management Appointment: Cliff Cain appointed as Manager of Commercial and External Affairs, relocating to Duluth, Minnesota. He brings over 15 years of experience in helium, hydrogen, and specialty gases, having negotiated over $100 million in gas supply agreements.
• Broker Update: Strand Hanson Ltd. appointed as sole broker effective immediately.
• Marketing Engagement: United Kingdom-based ShareTalk Ltd. engaged as a consultant for investor communications for a six-month term starting December 1, 2025, for a fee of 3,000 British pounds.

Notable Quotes

• Thomas Abraham-James, President and CEO: "Cliff's decision to join Pulsar full-time is a strong vote of confidence in our mission and direction... With Cliff leading our commercial and external affairs, we are significantly strengthening our ability to forge strategic partnerships and turn our discovery into a successful, revenue-generating operation."
• Thomas Abraham-James, President and CEO: "In addition, it is my pleasure, once again, to report the successful completion of drilling at a further well, Jetstream No. 4... With downhole evaluation now starting on Jetstream No. 3 and No. 4 and with the drill rig being mobilized to Jetstream No. 5, momentum continues as we head towards the end of 2025 and advance our drilling campaign."