Pulsar Helium's Jetstream Project: A Deep Dive into the Successful Completion of Well Deepening

Pulsar Helium Inc. (AIM: PLSR, TSXV: PLSR, OTCQB: PSRHF), a leading helium project development company, has announced the successful completion of the deepening operation for the Jetstream #1 appraisal well at its flagship Topaz Project in Minnesota, USA. The drilling operation reached Total Depth (TD) of 5,100 feet (1,555 metres) on January 11th, 2025, successfully penetrating the entire interpreted helium-bearing reservoir and beyond. This significant milestone marks a crucial step in advancing Pulsar's strategy to address the increasing global demand for helium.

Key Achievements

* Successful Deepening: Jetstream #1 reached its target depth of 5,100 feet on January 11th, 2025.
* Expanded Reservoir: Initial data supports the Company’s interpreted larger helium-bearing reservoir zone with multiple helium zones encountered throughout the deepening operation from 2,200 feet to 5,100 feet.
* Promising Helium Readings: Mud log gas levels containing up to 7.24% helium were encountered during drilling. These samples are diluted by atmospheric air due to the rotary air drilling method used and unaffected samples for laboratory analysis will be acquired in due course.
* Comprehensive Data Collection: Down-hole wireline logging data was acquired over January 11th-12th, this data will be integrated with additional downhole data that will be acquired over the coming weeks.

Next Steps

* Additional data collection, including optical televiewer, pressure, and flow testing, will be conducted after the completion of drilling of Jetstream #2.
* Jetstream #2 Preparation: The drill rig is now moving onto the Jetstream #2 pad, with spudding anticipated around January 17th, 2025.

Thomas Abraham-James, President & CEO of Pulsar Helium, commented on the drilling:

"The deepening of the Jetstream #1 well has been a resounding success, exceeding our expectations and reinforcing our confidence in the Topaz Project's potential. The expanded reservoir height and encouraging helium readings are testament to the quality of our geological model and the expertise of our team. As we move forward with Jetstream #2 and additional testing, we are increasingly optimistic about the project's ability to contribute significantly to the global helium supply chain. This success not only validates our exploration strategy but also positions Pulsar Helium as a key player in addressing the critical demand for helium in various high-tech industries."

Expanded Reservoir Potential

The deepening operation has revealed promising indications of an expanded helium-bearing reservoir. Multiple helium-bearing zones have been identified in the interpreted geophysical anomaly over the interval from 1,750 – 5,100 feet, representing a significant potential increase in reservoir height over previous estimates. The increased reservoir thickness potentially enhances the project's resource potential and underscores the value of the Topaz Project.

Ongoing Analysis and Testing

Pulsar Helium is currently conducting a thorough analysis of the down-hole wireline logging data collected from Jetstream #1. Additional testing, including optical televiewer and pressure/flow assessments will be gathered after completion of the drilling of Jetstream #2, scheduled for early March, and will further refine the Company's understanding of the reservoir's properties and production potential.

Looking Ahead: Jetstream #2

Building on the success of Jetstream #1, Pulsar Helium is preparing to commence drilling operations for the step-out well, Jetstream #2. This well is scheduled to spud on or around January 17th, 2025, and is planned to reach a depth of at least 5,000 feet. Jetstream #2 will play a crucial role in delineating the characteristics of the helium-bearing reservoir and further validating the project's potential.

Strategic Significance

The Jetstream #1 appraisal well previously reached total depth (TD) of 2,200 feet (671 metres) on February 27th, 2024, identifying top-tier helium concentrations of up to 14.5%, well above the 0.3% widely accepted economic threshold, and CO2 concentrations exceeding 70% - with the latter expected to further contribute to the project economics. The deepening of Jetstream #1 is a pivotal step in advancing Pulsar’s strategy to address the increasing global demand for helium as the Company moves another step closer to production. The deepening of Jetstream #1 will target the full height of the helium reservoir, guided by insights from recently acquired geophysical data, previous drilling phases, and onsite testing.

In conclusion, Pulsar Helium's successful completion of the Jetstream #1 well deepening marks a significant milestone in the company's quest to become a premier helium supplier. The expanded reservoir potential, promising helium readings, and comprehensive data collection have further validated the Topaz Project's potential and positioned Pulsar Helium as a key player in addressing the critical demand for helium in various high-tech industries. As the company moves forward with Jetstream #2 and additional testing, investors can look forward to a promising future for Pulsar Helium and the global helium supply chain.