Acquires Strategic Surface Land at Topaz Project

Pulsar Helium Inc.

29 May 2026

 

THIS ANNOUNCEMENT AND THE INFORMATION CONTAINED HEREIN IS RESTRICTED AND IS NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART, DIRECTLY OR INDIRECTLY, IN, INTO OR FROM AUSTRALIA, JAPAN OR THE REPUBLIC OF SOUTH AFRICA OR TO BE TRANSMITTED, DISTRIBUTED TO, OR SENT BY, ANY NATIONAL OR RESIDENT OR CITIZEN OF ANY SUCH COUNTRIES OR ANY OTHER JURISDICTION IN WHICH SUCH RELEASE, PUBLICATION OR DISTRIBUTION MAY CONTRAVENE LOCAL SECURITIES LAWS OR REGULATIONS.

THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION FOR THE PURPOSES OF ARTICLE 7 OF THE UK VERSION OF REGULATION (EU) NO. 596/2014 ON MARKET ABUSE, AS IT FORMS PART OF UK DOMESTIC LAW BY VIRTUE OF THE EUROPEAN UNION (WITHDRAWAL) ACT 2018, AND REGULATION (EU) NO. 596/2014 ON MARKET ABUSE.

UPON THE PUBLICATION OF THIS ANNOUNCEMENT, THIS INSIDE INFORMATION IS NOW CONSIDERED TO BE IN THE PUBLIC DOMAIN.

NEWS RELEASE | MAY 29, 2026 | CASCAIS, PORTUGAL

PULSAR HELIUM ACQUIRES STRATEGIC SURFACE LAND AT TOPAZ HELIUM PROJECT, MINNESOTA

Pulsar Helium Inc. (AIM: PLSR) (TSXV: PLSR) (OTCQB: PSRHF) ("Pulsar" or the "Company"), a primary helium company, is pleased to announce that it has acquired approximately 1,360 acres of surface land in Lake County, Minnesota, located within its flagship Topaz Project (the "Acquisition").

The surface land was purchased in an arm's length transaction from Wolf Lands Inc. for total cash consideration of US$2,480,000 to be satisfied through the Company's existing cash resources. The newly acquired land lies within the mineral rights that the Company holds under lease from a separate private owner, and the area includes the location of the Company's Jetstream #7 (JS#7) well.

Strategic Rationale for the Acquisition

Securing direct surface ownership across a key area of the Topaz Project, including the JS#7 well site, further strengthens long-term operational control as Pulsar advances toward production readiness.

Control of the surface land provides greater certainty for future infrastructure siting, development planning and operational flexibility ahead of the next phase of development.

Concentration of acreage footprint provides optimal scalability of the initial and overall resource development.

Thomas Abraham-James, CEO of Pulsar, commented:

"This Acquisition, driven by our intention to develop Topaz into a significant primary helium producer, builds on growing momentum at the project as we move decisively toward production readiness. It also follows recent legislative progress updating Minnesota's permitting framework for helium extraction. With a clearer pathway now emerging toward future production, securing ownership of the surface land overlying our leased mineral rights, including the site of our Jetstream #7 well, provides Pulsar with increased operational control and long-term development certainty as we continue advancing Topaz toward production."

The Acquisition forms part of Pulsar's broader push toward production readiness at Topaz. The Company recently concluded its Jetstream exploration and appraisal program, with all wells drilled to date having encountered gas under high pressure and is now obtaining quotes for the drilling of up to four new production wells to supplement two production-ready wells already drilled. It follows significant regulatory progress in Minnesota, where on May 26, 2026, Governor Tim Walz signed into law new legislation establishing a helium-specific framework for gas resource development in northeastern Minnesota, and the Minnesota Department of Natural Resources issued proposed expedited permanent rules for permitting gas resource development on May 18, 2026.

These developments come amid a sharp tightening of global helium supply, driven by disruption to the Strait of Hormuz, attacks on QatarEnergy's Ras Laffan facilities, Qatar supplies approximately 35% of the world's helium, and new Russian export controls in place through the end of 2027. In the United States, some helium customers have already been subject to allocation measures and surcharge notices from major industrial gas suppliers, underscoring the urgent need for secure, domestic, primary helium supply.

Topaz, located in Lake County near Babbitt in northern Minnesota, is Pulsar's 100%-owned flagship project and one of the leading primary helium discoveries in the United States. Unlike most global helium production, Topaz is a high-grade primary helium discovery that is not associated with hydrocarbon production. In preparation for production, Pulsar signed a Letter of Intent in March 2026 with Chart Industries, Inc. for the supply of an integrated helium liquefaction and CO₂ capture facility.

On behalf of Pulsar Helium Inc.

"Thomas Abraham-James"

CEO and Director

Further Information:

Pulsar Helium Inc.

[e-mail]  

+ 1 [phone] (USA/Canada)

[phone] (United Kingdom)

https://pulsarhelium.com  

https://ca.linkedin.com/company/pulsar-helium-inc.  

Strand Hanson Limited

(Nominated & Financial Adviser, and Broker)

Ritchie Balmer / Rob Patrick

[phone]

Yellow Jersey PR Limited

(Financial PR)

Charles Goodwin / Annabelle Wills

[phone]

[e-mail]  

About Pulsar Helium Inc.

Pulsar Helium Inc. is a publicly traded company quoted on the AIM market of the London Stock Exchange (United Kingdom) and listed on the TSX Venture Exchange with the ticker PLSR (Canada), as well as on the OTCQB with the ticker PSRHF (United States of America). Pulsar's portfolio consists of its flagship Topaz helium project in Minnesota, the Falcon project in Michigan (both in the USA), 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.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Forward-Looking Statements

This news release contains forward-looking information within the meaning of Canadian securities legislation (collectively, "forward-looking statements") that relate to the Company's current expectations and views of future events. Any statements that express, or involve discussions as to, expectations, beliefs, plans, objectives, assumptions or future events or performance (often, but not always, through the use of words or phrases such as "will likely result", "are expected to", "expects", "will continue", "is anticipated", "anticipates", "believes", "estimated", "intends", "plans", "forecast", "projection", "strategy", "objective" and "outlook") are not historical facts and may be forward-looking statements. Forward-looking statements herein include, but are not limited to, statements relating to advancing the Topaz project towards first production; the establishment of a clearer implementation pathway for future helium production; the Jetstream exploration and appraisal program having materially de-risked future drilling at Topaz; the Topaz project having the potential to support domestic supply chains, create skilled employment in Northeastern Minnesota and contribute to economic development opportunities across Minnesota; the potential of CO2 and/or Helium-3 as a valuable by-product of the Company's future helium production; and the drilling of up to four new production wells. Forward-looking statements may involve estimates and are based upon assumptions made by management of the Company, including, but not limited to, the Company's capital cost estimates, management's expectations regarding the availability of capital to fund the Company's future capital and operating requirements; the ability to obtain all requisite regulatory approvals; and that the State of Minnesota will complete the requisite rulemaking, environmental review, permitting requirements and implementation steps to allow for commercial production.

No reserves have been assigned in connection with the Company's property interests to date, given their early stage of development. The future value of the Company is therefore dependent on the success or otherwise of its activities, which are principally directed toward the future exploration, appraisal and development of its assets, and potential acquisition of property interests in the future. Un-risked Contingent and Prospective Helium Volumes have been defined at the Topaz Project. However, estimating helium volumes is subject to significant uncertainties associated with technical data and the interpretation of that data, future commodity prices, and development and operating costs. There can be no guarantee that the Company will successfully convert its helium volume to reserves and produce that estimated volume. Estimates may alter significantly or become more uncertain when new information becomes available due to for example, additional drilling or production tests over the life of field. As estimates change, development and production plans may also vary. Downward revision of helium volume estimates may adversely affect the Company's operational or financial performance.

Helium volume estimates are expressions of judgement based on knowledge, experience and industry practice. These estimates are imprecise and depend to some extent on interpretations, which may ultimately prove to be inaccurate and require adjustment or, even if valid when originally calculated, may alter significantly when new information or techniques become available. As further information becomes available through additional drilling and analysis the estimates are likely to change. Any adjustments to volume could affect the Company's exploration and development plans which may, in turn, affect the Company's performance. The process of estimating helium resources is complex and requires significant decisions and assumptions to be made in evaluating the reliability of available geological, geophysical, engineering, and economic date for each property. Different engineers may make different estimates of resources, cash flows, or other variables based on the same available data.

Forward-looking statements are subject to a number of risks and uncertainties, many of which are beyond the Company's control, which could cause actual results and events to differ materially from those that are disclosed in or implied by such forward- looking statements. Such risks and uncertainties include, but are not limited to, that Pulsar may be unsuccessful in drilling commercially productive wells; the uncertainty of resource estimation; operational risks in conducting exploration, including that drill costs may be higher than estimates; commodity prices; health, safety and environmental factors; the risk that the requisite state rulemaking, environmental review, permitting and implementation steps will not be completed; and other factors set forth above as well as risk factors included in the Company's Annual Information Form dated February 3, 2026, for the year ended September 30, 2025, found under Company's profile on www.sedarplus.ca.  

Forward-looking statements contained in this news release are as of the date of this news release, and the Company undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as may be required by law. New factors emerge from time to time, and it is not possible for the Company to predict all of them or assess the impact of each such factor or the extent to which any factor, or combination of factors, may cause results to differ materially from those contained in any forward-looking statement. No assurance can be given that the forward-looking statements herein will prove to be correct and, accordingly, investors should not place undue reliance on forward-looking statements. Any forward-looking statements contained in this news release are expressly qualified in their entirety by this cautionary statement.

 

END