Pulsar talks helium concentrations at Topaz wells

Mr. Thomas Abraham-James reports PULSAR HELIUM CONFIRMS SUSTAINED HELIUM CONCENTRATIONS OF 7-8% AT JETSTREAM #1, WITH POSITIVE RESERVOIR INDICATORS AT JETSTREAM #2 Pulsar Helium Inc. has released the latest gas analysis results from the Jetstream No. 1 and Jetstream No. 2 appraisal wells at its flagship Topaz helium project in Minnesota, United States. Laboratory analysis confirms sustained helium concentrations of up to 8 per cent in both wells, reinforcing Topaz's status as a top-tier primary helium discovery. The results reveal a highly favourable gas composition and exceptional well performance, with Jetstream No. 1 achieving a peak flow rate of over 1.3 million cubic feet per day under wellhead compression. These milestones underscore the significant potential of the Topaz project and pave the way for accelerated development initiatives. Highlights: Jetstream No. 1 -- sustained helium concentrations (7 to 8 per cent): Laboratory testing has confirmed a stable, high helium content of between 7 and 8 per cent by volume in the Jetstream No. 1 gas stream, confirming a robust helium-rich reservoir. This level comfortably exceeds typical commercial thresholds (approximately 0.3 per cent helium) and validates Jetstream No. 1's primary helium production potential. High CO2 (carbon dioxide) content (75 to 80 per cent) -- byproduct potential: Gas composition analyses show carbon dioxide levels of approximately 75 to 80 per cent in the produced gas. This unusually high CO2 concentration (exceeding 70 per cent) presents an opportunity for commercial CO2 byproduct utilization, which has the potential to enhance project economics. Jetstream No. 2 -- high helium and pressure, targeted cleanout planned: The Jetstream No. 2 appraisal well encountered similarly high helium concentrations of up to 8 per cent in initial gas samples alongside a strong initial shut-in pressure of approximately 151 pounds per square inch (10.4 bar), notably higher than Jetstream No. 1. This indicates a highly charged reservoir with excellent pressure support. However, sustained flow from Jetstream No. 2 was limited due to persistent wellbore blockages during testing. A targeted cleanout program is being planned. Thomas Abraham-James, president and chief executive officer of Pulsar, commented: "We are very encouraged by the consistency of helium grades across both Jetstream wells, with favourable CO2 levels expected to simplify processing and enhance product yields. These latest data sets further validate the Topaz project's significant potential, with sustained helium concentrations of up to 8 per cent at Jetstream No. 1 providing a robust foundation for future development. Although sustained flow at Jetstream No. 2 has been restricted by persistent wellbore blockages, a targeted cleanout program is being designed to address these issues. With the upcoming core drilling, these programs position us to unlock sustained production capability at Topaz and continue building momentum toward establishing it as one of the leading new primary helium projects in North America." Latest gas analysis and well performance Jetstream No. 1 -- high helium, high deliverability: At the Jetstream No. 1 appraisal well, which was deepened to 5,100 feet in 2025, laboratory gas analysis has verified a sustained helium concentration of approximately 7 to 8 per cent in the produced gas over extended flow periods. This result far exceeds typical economic requirements and reinforces the national significance of the discovery. Jetstream No. 1 delivered a maximum natural flow rate of approximately 501,000 cubic feet per day during open flow testing, observed on a 38/64ths-inch choke at approximately 30 pounds per square inch (2.1 bar) wellhead pressure, without compression assistance. Jetstream No. 1 demonstrated stable long-duration flows, producing 150,000 to 300,000 cubic feet per day for periods of 12 to 18 hours on smaller choke sizes. Under surface compression to reduce wellhead pressure, the well delivered a peak gas flow rate of approximately 1.3 million cubic feet per day. No formation water was encountered and the gas flowed dry, containing only helium, CO2 and trace gases. This clean flow confirms that Topaz's helium is not associated with hydrocarbons or water, simplifying future production and indicating that minimal gas separation processing will be required at the wellhead. The gas composition from Jetstream No. 1, chiefly CO2 (approximately 75 to 80 per cent) and helium (7 to 8 per cent), is highly advantageous for commercial development. Methane content is recorded at less than 3 per cent, which means the gas is effectively free of the hydrocarbons that otherwise complicate processing. Consequently, Pulsar can focus on extracting helium and capturing the abundant CO2 as a valuable secondary product. The high helium concentration and low impurities underscore that Topaz is a rare primary helium source, rather than a byproduct of hydrocarbon gas, and bodes well for efficient helium purification and liquefaction. Jetstream No. 2 -- strong reservoir indicators and remediation: Laboratory analysis of gas obtained from initial testing confirmed helium concentrations on the order of 7 to 8 per cent, closely mirroring the rich grades seen in Jetstream No. 1. Initial shut-in pressure of approximately 151 pounds per square inch surpassed pressures observed at Jetstream No. 1, a clear sign of a highly pressurized and energized reservoir with capacity for strong gas flows. Together, the helium content and pressure data from Jetstream No. 2 validate that the same extensive helium-bearing system encountered in Jetstream No. 1 extends across the reservoir, underpinning the project's scalability. Testing at Jetstream No. 2 was, however, hindered by mechanical flow restrictions. Despite the well's strong potential, persistent blockages in the wellbore prevented the well from maintaining continuous flow during the initial test period. In response, Pulsar is designing a targeted cleanout operation to clear the obstruction and fully unleash the capacity of Jetstream No. 2. When the wellbore is cleaned out, further flow tests will be conducted to gather sustained performance data from Jetstream No. 2. The company is optimistic that, after remediation, Jetstream No. 2 will demonstrate flow rates and deliverability in line with its high helium grades and pressure, further bolstering the Topaz project's already-strong results. All gas analyses were conducted by Isotech, a Stratum Reservoir brand, at its laboratory in Champaign, Ill., United States. Flow testing was undertaken by Sabre Production Services LLC. 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 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 appraisal well was successfully flow tested using a wellhead compressor, delivering a peak gas flow rate of approximately 1.3 million cubic feet per day. Meanwhile, a multiwell drilling campaign at Topaz is set to commence in early October to increase the company's understanding of the helium reservoir and advance Pulsar's strategy to become a leading helium producer in response to growing global demand. About Pulsar Helium Inc. Pulsar Helium is a publicly traded company quoted on the AIM (Alternarive Investment Market) of the London Stock Exchange and listed on the TSX Venture Exchange 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. Qualified person signoff In accordance with the AIM Note for Mining and Oil and Gas Companies, the company discloses that Brad Cage, vice-president, engineering, and an officer of the company, has reviewed the technical information contained herein. Mr. Cage has approximately 25 years in the oil and gas industry, is a member of the Society of Petroleum Engineers, and is a licensed professional petroleum engineer in Oklahoma, United States. We seek Safe Harbor.