Pulsar Helium Advances Appraisal Programme with Completion of Jetstream #3 And Commencement of Testing; Rig Mobilised to Jetstream #4, Topaz Project, Minnesota, USA

Rhea-AI Summary

Pulsar Helium (OTCQB: PSRHF) announced successful completion of the Jetstream #3 appraisal well at the Topaz Project, Minnesota, reaching a total depth of 3,507 ft (1,069 m) on 7 November 2025 and penetrating the interpreted helium-bearing interval.

The rig was mobilised and Jetstream #4 was spudded on 9 November 2025 targeting a TD of 3,000 ft (914 m). Multiple pressurised gas zones returned a calculated bottom-hole pressure of approximately 960 psi, compared with prior well-head pressures of 185 psi (Jetstream #1) and 205 psi (Jetstream #2).

Next steps include open-hole wireline logging, optical televiewer imaging, proposed controlled flow-testing and pressure build-up, and an active campaign of up to 10 wells with a resource update and a Preliminary Economic Assessment targeted in H1 2026.

Positive

• Jetstream #3 TD of 3,507 ft reached on 7 Nov 2025
• Jetstream #4 spudded on 9 Nov 2025, targeting 3,000 ft
• Bottom-hole pressure ~960 psi indicates a highly pressurised reservoir
• Active programme of up to 10 wells aiming to update Topaz resource

Negative

• No flow-test results yet; well deliverability remains unproven
• PEA and resource update pending in H1 2026, so commercial metrics are not yet available

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 AND SUCH PERSONS SHALL THEREFORE CEASE TO BE IN POSSESSION OF INSIDE INFORMATION.

CASCAIS, Portugal, Nov. 11, 2025 (GLOBE NEWSWIRE) --

Pulsar Helium Inc. (AIM: PLSR, TSXV: PLSR, OTCQB: PSRHF) (“Pulsar” or the “Company”), a primary helium development company, is pleased is pleased to announce the successful completion of drilling the Jetstream #3 appraisal well at its flagship Topaz Project in Minnesota, USA, with the drilling operation reaching a total depth (“TD”) of 3,507 feet.

Highlights:

• Successful Drilling: Jetstream #3 reached a total depth (“TD”) of 3,507 feet (1,069 meters) on November 7, 2025, successfully penetrating the entire interpreted helium-bearing interval.
• Commencement of drilling at Jetstream #4: Drill rig relocated and Jetstream #4 successfully ‘spudded’ on Sunday November 9, 2025, as progress begins toward achieving a TD of 3,000 feet (914 metres).
• Strong Pressure: Multiple pressurized gas zones throughout the drilling campaign with a calculated bottom-hole pressure of approximately 960 psi. This strong pressure reading indicates a robust, naturally pressurized, highly charged reservoir at the well location, providing further validation of the Topaz reservoir’s potential.
  • For comparison, Jetstream #1 had a well-head pressure of 185 psi when drilled in 2024, and Jetstream #2 a well-head pressure of 205 psi. 
• Next Steps: Jetstream #3 will, this week, undergo a comprehensive evaluation, with a suite of open-hole wireline logs running to collect detailed geological and petrophysical data. An optical televiewer will be used to image the well-bore wall geology, followed by a proposed controlled flow-testing and pressure build-up program to measure well deliverability.
  

The active drilling campaign consists of up to 10 wells and is designed to further define the geometry, extent, and productivity of the helium-bearing reservoir at Topaz. Field activities will be ongoing as the Company advances towards its objectives of updating the Topaz resource and conducting a Preliminary Economic Assessment (PEA) in H1 2026. Pulsar is fully committed to realising Topaz’s production potential with the aim of providing a new source of helium supply to the North American market.

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

“It is my pleasure to report the successful completion of drilling the Jetstream #3 appraisal well at our Topaz project in Minnesota, USA. Initial bottom-hole pressure readings surpass expectation and reinforce our belief in the huge potential offered by this incredible multi-commodity gas discovery.

“With the drilling of Jetstream #4 underway and down-hole testing soon to commence at Jetstream #3, momentum continues to build at Topaz as we advance our drilling campaign and move steadily towards defining what we believe to be one of North America’s most significant primary helium discoveries.”

On behalf Pulsar Helium Inc.
“Thomas Abraham-James”
President, CEO and Director

Further Information:

Pulsar Helium Inc.
connect@pulsarhelium.com
+ 1 (218) 203-5301 (USA/Canada)

+44 (0) 2033 55 9889 (United Kingdom)
https://pulsarhelium.com
https://ca.linkedin.com/company/pulsar-helium-inc.

Yellow Jersey PR Limited
(Financial PR)
Charles Goodwin / Annabelle Wills
+44 777 5194 357
pulsarhelium@yellowjerseypr.com

Strand Hanson Limited
(Nominated & Financial Adviser, and Joint Broker)
Ritchie Balmer / Rob Patrick / Richard Johnson
+44 (0) 207 409 3494

OAK Securities*
(Joint Broker)
Richard McGlashan / Mungo Sheehan

+44 7879 646641 / +44 7788 266844

richard.mcglashan@oak-securities.com / mungo.sheehan@oak-securities.com

*OAK Securities is the trading name of Merlin Partners LLP, a firm incorporated in the United Kingdom and regulated by the UK Financial Conduct Authority.

About Pulsar Helium Inc.

Pulsar Helium Inc. is a publicly traded company quoted on the AIM 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, 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 the statements regarding bringing the Topaz project to production, anticipated full plant construction contract in 2026, final investment decision being made in 2026, the potential impact of the drill results, flow testing and pressure testing on the next iteration of the resource estimate; the potential of CO₂ and/or Helium-3 as a valuable by-product of the Company’s future helium production; and the potential for future 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 and the ability to obtain all requisite regulatory approvals. 

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; and other factors set forth above as well as risk factors included in the Company’s Annual Information Form dated July 31, 2025 for the year ended September 30, 2024 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.

FAQ

What did Pulsar Helium (PSRHF) announce about Jetstream #3 on November 11, 2025?

Pulsar announced Jetstream #3 reached total depth of 3,507 ft on 7 Nov 2025 and penetrated the interpreted helium-bearing interval.

Has Pulsar Helium started drilling Jetstream #4 at Topaz (PSRHF) and when?

Yes. The rig mobilised and Jetstream #4 was spudded on 9 Nov 2025, targeting a TD of 3,000 ft.

What pressure readings were reported for Jetstream #3 and how do they compare to earlier wells?

Jetstream #3 had a calculated bottom-hole pressure of ~960 psi, versus well-head pressures of 185 psi (Jetstream #1) and 205 psi (Jetstream #2).

When will Pulsar Helium update Topaz resource estimates and run a PEA (PSRHF)?

The company targets a resource update and a Preliminary Economic Assessment in H1 2026.

What are the next technical steps for Jetstream #3 at Topaz (PSRHF)?

Planned steps include open-hole wireline logs, optical televiewer imaging, and proposed controlled flow-testing and pressure build-up.