Pulsar Helium firms up deal for Quantum Hydrogen

Mr. Thomas Abraham-James reports PULSAR HELIUM ANNOUNCES DEFINITIVE AGREEMENT TO ACQUIRE MAJOR MINNESOTA LAND POSITION TO THE WEST OF TOPAZ PROJECT Pulsar Helium Inc. has signed a definitive agreement with Oscillate PLC to supersede the non-binding term sheet announced on Sept. 2, 2025, to acquire up to 100 per cent of Oscillate's wholly owned subsidiary, Quantum Hydrogen Inc., in an all-share transaction. Terms of the agreement Under the agreement, Pulsar is to acquire 80 per cent of the issued share capital of Quantum from Oscillate in consideration of the issuance of new Pulsar common shares having an aggregate value of $400,000 (U.S.) and to be issued in five equal monthly tranches of $80,000 (U.S.), each over a five-month period commencing upon receipt of TSX Venture Exchange approval to the transaction. The number of consideration shares in each tranche will be determined by the 30-day volume-weighted average price (VWAP) of Pulsar's shares on the TSX-V prior to each issuance (subject to the minimum price allowable by the TSX-V). Pulsar has also been granted the option to acquire the remaining 20 per cent of the Quantum shares from Oscillate within 18 months for an additional $400,000 (U.S.) in Pulsar shares, issuable under the same terms and pricing mechanism as set out above. The Pulsar shares to be issued in connection with the transaction will be subject to a four-month-and-one-day hold period from the date of issuance, and such issuance remains subject to receipt of TSX-V acceptance. The company also notes that Neil Herbert, a director of Pulsar, is a minority shareholder in Oscillate and accordingly has abstained from participating in Pulsar's board's deliberations and voting on the transactions, in line with corporate governance best practices. Highlights of the transaction: Quantum holds exclusive mineral rights for non-hydrocarbon gases in Minnesota (59,100 gross acres) that are located in the St. Louis and Itasca counties to the west of Pulsar's flagship Topaz project; Approximately 1,000-per-cent increase to Pulsar's gross acreage in Minnesota on completion of the acquisition of the Oscillate shares; Proximal and prospective for helium and hydrogen with geological traits analogous to the Topaz project, where recent testing at the Jetstream No. 1 appraisal well confirmed strong reservoir productivity, expected to support future production; Pulsar will have the opportunity to apply Pulsar's extensive subsurface knowledge to the assets, which represent a more conventional gas reservoir; Pulsar remains focused on achieving its core objective of becoming a major helium producer at Topaz, with this additional acreage being a low-cost, long-term addition intended for future exploration activities. Quantum has not yet produced financial statements; however, the lease option that it owns in respect of the assets is held on Quantum's balance sheet with a value of approximately $296,000 (U.S.). Strategic rationale for the transaction The mineral rights comprising the assets are situated within a non-hydrocarbon-bearing sedimentary basin that overlies Archean crystalline basement, the same helium source rock type as at the Topaz project. While Topaz represents a helium discovery within fractured basement, the assets represent a more conventional gas reservoir: helium generated in basement granites migrating into overlying sedimentary reservoirs sealed by mudstone and siltstone units. Pulsar has developed a strong technical foundation in identifying and characterizing helium migration pathways, source-proximity relationships and structural controls through its work at Topaz. This acquisition will allow Pulsar to leverage its experience across additional acreage with similar helium generation potential. Pulsar's board believes this represents a logical and low-risk way to expand its exploration portfolio while remaining firmly within the company's core technical focus. About Pulsar Helium Inc. Pulsar Helium is a publicly traded company quoted on the AIM (Alternative Investment Market) of the London Stock Exchange and listed on the TSX-V with the ticker PLSR as well as on the OTCQB with the ticker PSRHF. Pulsar's portfolio consists of its flagship Topaz helium project in Minnesota, United States, and the Tunu helium project in Greenland. Pulsar is the first mover in both locations with primary helium occurrences not associated with the production of hydrocarbons identified at each. About the Topaz project The Topaz project is located in northern Minnesota, United States, where Pulsar is the first mover and holds exclusive leases. Drilling at the Jetstream No. 1 appraisal well reached a total depth (TD) of 5,100 feet (1,555 metres) in January, 2025, successfully penetrating the entire interpreted helium-bearing reservoir and beyond. Drilling of the Jetstream No. 2 appraisal well was completed on Feb. 1, 2025, reaching a TD of 5,638 feet (1,718 metres). In August, 2025, the Jetstream No. 1 well was successfully flow tested using a wellhead compressor, delivering a peak gas flow rate of approximately 1.3 million cubic feet per day with a sustained flow of 7 to 8 per cent helium (as helium-4). Recent laboratory analyses have also confirmed the presence of helium-3 in measurable concentrations, representing one of the highest naturally occurring helium-3 values publicly reported in a terrestrial gas reservoir. The forthcoming multiwell drilling campaign will build on these results to expand Pulsar's understanding of the reservoir and advance Topaz toward development. We seek Safe Harbor.