Helium Evolution Provides Grasslands Project Update and Board of Directors Update
The number of Grasslands wells to be drilled depends on final drilling licenses and winter drilling rig availability.
Sentiment and the balance of points
Rhea-AI Sentiment reads the wording of the document, how positive or negative its language is on a 1 to 5 scale. The balance of points shown with the takes weighs what the document actually discloses, so the two can disagree, for example when a trial that missed its main goal is described in upbeat language.
Rhea-AI Summary
Helium Evolution (HEEVF) has advanced its Grasslands helium project with North American Helium, completing seismic interpretations and agreeing initial drilling locations. Both partners completed their 170 km² three-dimensional seismic interpretations across the southern Saskatchewan project. North American Helium is advancing surface location permitting for up to 10 wells.
The earliest anticipated drilling start is January 2027; the number of wells depends on final drilling licenses and winter drilling rig availability. Further timing and scope details will follow completion of permitting. Effective immediately, Philip Hughes and Michael Graham resigned as directors, and Anton du Plessis joined the board.
How this balance works
Rhea-AI gives every point it takes from this document a weight. Minor counts 1, Moderate 3 and Major 9, so one Major point outweighs several Minor ones. The bar adds up the weights on each side, and when neither side holds more than 65% of the total the balance reads Mixed.
It reads the document as published, with the same rules for every company, and it does not look at what the market expected or at how the stock traded, so a point can be objectively good on a day the stock falls.
Rhea-AI Sentiment measures something else, the tone of the wording.
Hollow bars mark forward-looking points. How the balance works
Positive
- Moderate pointInitial drilling locations are agreed, with surface location permitting advancing for up to 10 wells.
- Minor pointGrasslands partners completed 170 km² 3D seismic interpretations, advancing project planning.
- Minor point. Forward-looking: it has not happened yet and may not happen.Grasslands drilling has an earliest anticipated start of January 2027.
Negative
- Minor point. Forward-looking: it has not happened yet and may not happen.The number of wells to be drilled remains subject to final drilling licenses and winter rig availability.
AI-generated analysis. How Rhea-AI works. Not financial advice.
CALGARY, Alberta, Oct. 08, 2026 (GLOBE NEWSWIRE) -- Helium Evolution Incorporated (TSXV:HEVI and OTCQB:HEEVF) ("HEVI" or the "Company"), a Canadian-based helium exploration company focused on developing assets in southern Saskatchewan, is pleased to provide an update on the advancement of its Grasslands project in southern Saskatchewan, operated in partnership with North American Helium Inc. (“NAH”).
HEVI and NAH have each completed their 170 km² 3D seismic interpretations across the Grasslands project, agreed on an initial set of bottom hole drilling locations, and NAH is now advancing the surface location permitting process for up to 10 wells. Earliest anticipated drilling commencement is January 2027, with the total number of wells to be drilled subject to final drilling licenses and winter drilling rig availability. HEVI will provide additional details regarding the timing and scope of the drilling program once the permitting process is completed.
“Alignment with NAH on the Grassland 3D seismic interpretation and 10 initial drilling targets is a meaningful milestone for HEVI. We look forward to supporting NAH where needed as they advance the drilling location permitting process at Grasslands,” said Malcolm Adams, President and CEO of HEVI.
Board of Directors Update
The Company also announces changes to its Board of Directors (the “Board”), effective immediately. Philip Hughes and Michael Graham have resigned as directors, and Anton du Plessis has been appointed to the Board.
Mr. du Plessis is a senior corporate finance professional with approximately 30 years of experience, including as the CEO and board member of a public lithium company. Prior thereto, Mr. du Plessis held senior positions at several international investment banks.
“We sincerely thank Philip and Michael for their significant contributions to HEVI,” said James Baker, Chair of the Board. “Philip provided strong leadership as Chair of the Audit Committee and brought valuable financial and governance expertise to the Board. Michael’s engineering and oil and gas experience provided important technical and industry insight as HEVI advanced its helium strategy. We are pleased to welcome Anton to the Board, whose extensive corporate finance, capital markets and public company experience will further strengthen our Board as HEVI moves into its next phase of growth.”
Stay Connected
Shareholders and other parties interested in learning more about the HEVI opportunity are encouraged to visit the Company’s website, which includes an updated corporate presentation, and are invited to follow the Company on LinkedIn and X for ongoing corporate updates and helium industry information.
About Helium Evolution Incorporated
HEVI is a Canadian-based helium exploration company focused on developing assets in southern Saskatchewan. The Company has over five million acres of land under permit near proven discoveries of economic helium concentrations which will support scaling the exploration and development efforts across its land base. HEVI’s management and board are executing a differentiated strategy to become a leading supplier of sustainably-produced helium for the growing global helium market.
For further information, please contact:
| Malcolm Adams, President & CEO Kristi Kunec, CFO | Phone: 1-587-330-2459 Email: info@heliumevolution.ca Web: https://www.heliumevolution.ca/ |
Statement Regarding Forward-Looking Information
This news release contains statements that constitute "forward-looking statements." Such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements, or developments in the industry to differ materially from the anticipated results, performance or achievements expressed or implied by such forward-looking statements. Forward looking statements are statements that are not historical facts and are generally, but not always, identified by the words "expects," "plans," "anticipates," "believes," "intends," "estimates," "projects," "potential" and similar expressions, or that events or conditions "will," "would," "may," "could" or "should" occur.
Forward-looking statements in this document include statements regarding: the Company becoming a leading supplier of sustainably-produced helium; capital availability; benefit of director to the Board; growth of the Company; the Company’s plans to apply for surface locations and drilling licenses; the timing, scope and commencement of future drilling activities; the advancement of the Grasslands project; and the potential for the identified drilling locations to support future helium exploration and development and other statements that are not historical facts. By their nature, forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause our actual results, performance or achievements, or other future events, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Such factors and risks include, among others: assumptions regarding permitting, regulatory and drilling approvals, not being able to obtain surface or drilling licenses, the availability of capital and services, cooperation with project partners and the timing and results of future exploration activities; contributions not being as expected; exploration and development risks; operational and technical challenges; financing risks; environmental and permitting risks; and general economic, market, and industry conditions.
When relying on forward-looking statements and information to make decisions, investors and others should carefully consider the foregoing factors and risks other uncertainties and potential events. The Company has assumed that the material factors referred to in the previous paragraphs will not cause such forward-looking statements and information to differ materially from actual results or events. However, the list of these factors is not exhaustive and is subject to change and there can be no assurance that such assumptions will reflect the actual outcome of such items or factors. The reader is cautioned not to place undue reliance on any forward-looking information. Such information, although considered reasonable by management at the time of preparation, may prove to be incorrect and actual results may differ materially from those anticipated. Forward-looking statements contained in this news release are expressly qualified by this cautionary statement. The forward-looking statements contained in this news release are made as of the date of this news release. The Company does not intend, and expressly disclaims any intention or obligation to, update or revise any forward-looking statements whether as a result of new information, future events or otherwise, except as required by law.
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.
FAQ
AI-generated questions and answers. How Rhea-AI works. Not financial advice.
When could Helium Evolution start drilling at Grasslands, and how many wells are planned?
The earliest anticipated drilling commencement is January 2027, with surface location permitting advancing for up to 10 wells. The total number drilled is subject to final drilling licenses and winter drilling rig availability. Additional timing and scope details will follow completion of permitting.
Who joined and left Helium Evolution's board?
Anton du Plessis joined the board, while Philip Hughes and Michael Graham resigned as directors, effective immediately. Du Plessis has approximately 30 years of corporate finance experience, including service as CEO and board member of a public lithium company and senior positions at international investment banks.