Pulsar authorizes Chart to begin Topaz engineering work

Mr. Thomas Abraham-James reports PULSAR HELIUM ANNOUNCES COMMENCEMENT OF PLANT ENGINEERING STUDY FOR HELIUM PRODUCTION Pulsar Helium Inc. has signed a limited notice to proceed (LNTP) with Chart Industries Inc., marking a strategic milestone toward full development of the company's flagship Topaz helium project in Minnesota, United States. This LNTP authorizes Chart to begin early engineering and procurement activities for the planned helium recovery and CO2 (carbon dioxide) capture facility at Topaz, building on the letter of intent (LOI) Pulsar signed with Chart's subsidiary, Earthly Labs, in November, 2024. The LNTP solidifies Chart's role as a key partner in bringing the Topaz project to production and underscores Pulsar's commitment to fast-track project development for the benefit of shareholders and the growing helium market. Highlights: Milestone partnership: The LNTP with Chart Industries, a leading global supplier of gas processing technology, initiates engineering work and equipment procurement for Topaz's helium and CO2 processing plant, accelerating the project's timeline toward production. This step follows the November, 2024, LOI with Chart's Earthly Labs division and moves the collaboration into the execution phase. Strong well performance: Recent flow testing at Topaz's Jetstream No. 1 well yielded a peak gas flow rate of approximately 1.3 million cubic feet per day under wellhead compression, with dry gas and no formation water produced. These exceptional results confirm a clean, helium-rich gas stream and provide critical data to inform processing facility design and sizing. Advancing plant development: Under the LNTP, Chart will commence detailed engineering and identification of key long-lead components for the full-scale helium recovery and CO2 capture plant. All work and payments under this limited authorization will be credited toward the anticipated full plant construction contract in 2026, when the final purchase and sale agreement is expected to be executed. This ensures a seamless transition to the main project build and mitigates schedule risk by securing equipment in advance. Path to production: The LNTP bolsters Pulsar's target of initiating helium production at Topaz by aligning critical project development pieces, from subsurface confirmation to surface facilities. With drilling of additional wells set to begin and Chart's processing technology secured, Pulsar remains on track in its timeline that envisions a final investment decision in 2026. Thomas Abraham-James, president and chief executive officer of Pulsar, commented: "We view this LNTP as a vote of confidence in the Topaz project's potential and a crucial step toward production. By engaging Chart Industries, the gold standard in gas processing equipment, at this early stage, we can leverage their engineering expertise and secure essential components ahead of our final investment decision. This pro-active approach builds on our November, 2024, agreement with Chart's Earthly Labs division and puts us on an accelerated path to realizing revenue from helium and industrial CO2 sales at Topaz." Details of the limited notice to proceed The LNTP issued to Chart Industries enables immediate action on the design and procurement for the Topaz helium production facility. Specifically, Chart's engineering team will now undertake detailed design work for an integrated helium extraction and CO2 liquefaction plant. Notably, the LNTP authorizes Chart to place a deposit on a full carbon capture unit (Earthly Labs' CiCi solution) to capture and liquefy co-produced CO2 from the Topaz gas stream. All investment expenditures under the LNTP advance financing of the definitive construction contract. By proceeding with these critical items now, Pulsar is derisking the development schedule and laying the groundwork for full project execution upon final contract award in 2026. Jetstream No. 1 delivers 1.3 million cubic feet per day in helium flow test, guiding facility design Pulsar's decision to advance into the engineering phase with Chart is underpinned by outstanding well results from the Topaz field. The company recently conducted extended flow tests on its Jetstream No. 1 appraisal well, which confirmed high deliverability of helium-bearing gas. Using a wellhead compressor, Jetstream No. 1 achieved a peak flow rate of approximately 1.3 million cubic feet per day. Importantly, the gas was dry with zero formation water, indicating a simplified production stream and minimal need for dehydration equipment. This clean flow stream, with helium concentrations previously measured in the 8.7-per-cent-to-14.5-per-cent range, provides a valuable data set for facility planning. The absence of water and strong flow rates mean that the planned processing facility can be optimally designed for helium separation and liquefaction without significant concern for handling liquids, which in turn can lower processing complexity and costs. Chart's engineers will utilize the Jetstream No. 1 data, alongside results from a second well (Jetstream No. 2), to refine the design specifications of the helium plant and CO2 capture system. Under the scope of the LNTP and the prior LOI, Chart is tasked with performing production scenario modelling using these well results. This modelling will guide final equipment selection, such as compressors, cryogenic separation units and CO2 liquefiers, ensuring the facility is appropriately sized to handle the reservoir's maximum output and gas composition. Paving the way to full-scale production With the LNTP in place and well performance exceeding expectations, Pulsar Helium is steadily advancing toward commercial production at Topaz. In addition to surface facility progress, the company has executed a multiwell drilling contract to appraise the broader field, scheduling up to 10 new core wells starting in late September, 2025. Insights from these wells will further delineate the helium reservoir and support reserves estimation, complementing the engineering design work under way. According to the company's development timeline, assuming the necessary financing is in place, a final investment decision (FID) on the Topaz project is targeted in 2026, coinciding with the execution of a full-scale construction and equipment purchase contract with Chart. The collaboration with Chart Industries through the LNTP offers Pulsar a head start on critical path items as it moves toward these milestones. Chart's involvement not only provides top-tier technical solutions for gas processing but also reduces the need for third party engineering, thereby controlling costs and expediting the schedule. Marketing engagement GoldInvest Consulting GmbH is a company headquartered in Hamburg, Germany, dedicated to investor relation services. The cost of the services is $42,000, to be paid monthly at $3,500 per month, for a 12-month term that will commence on Sept. 8, 2025, the agreement between GoldInvest and the company does not automatically renew. GoldInvest can be reached at 040-44-195-195 or [email protected]. GoldInvest and the company are unrelated and unaffiliated entities. GoldInvest will provide services to the company that include the production of editorials relating the company's noteworthy news updates, aggregation of in-house and external comments, articles, interviews, research, and papers relating to the company on GoldInvest's website, and the publication of interviews and other videos about the company on GoldInvest's website and YouTube channel. GoldInvest currently holds 50,000 common shares and 50,000 warrants in the company. 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. The well had previously reached TD of 2,200 feet (671 metres) in February, 2024, identifying top-tier helium concentrations of up to 14.5 per cent, well above the 0.3-per-cent widely accepted economic threshold, and flowed at a rate of 821,000 cubic feet per day. 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 deepened to a total depth of 5,100 feet and 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 imminently 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 (Alternative 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. We seek Safe Harbor.