Pulsar Helium Engages Sproule-ERCE for Pre-Feasibility Study at the Tunu Helium-Geothermal Project, Greenland

Rhea-AI Summary

Pulsar Helium (OTCQB: PSRHF) has engaged global energy consultancy Sproule-ERCE to conduct a Pre-Feasibility Study (PFS) at its Tunu helium-geothermal project in East Greenland. The study will evaluate both helium extraction and geothermal opportunities, following the discovery of subsurface anomalies through advanced geophysical data interpretation and a passive seismic survey.

The PFS will be led by Sproule-ERCE's internationally recognized geothermal team, which has supported over 200 MWth of geothermal heat capacity and completed over 40 geothermal feasibility studies globally. The study is scheduled for completion by August 2025, aiming to provide a technical and economic foundation for future project development decisions.

Positive

• Project represents one of the few primary helium occurrences in Europe
• Dual resource potential combining helium and geothermal energy
• Strategic location for supporting Europe's critical raw materials and clean energy needs
• Partnership with experienced consultancy that has completed over 40 geothermal feasibility studies

Negative

• None.

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.

CASCAIS, Portugal, June 24, 2025 (GLOBE NEWSWIRE) -- Pulsar Helium Inc. (AIM: PLSR, TSXV: PLSR, OTCQB: PSRHF) (“Pulsar” or the “Company”), a leading helium project development company, is pleased to announce the signing of an agreement with leading global energy consultancy, Sproule-ERCE (“Sproule-ERCE”), to conduct a Pre-Feasibility Study (“PFS”) at the Company’s Tunu helium-geothermal project in East Greenland (“Tunu” or the “Project”).

The engagement marks a significant milestone for Pulsar as it advances Tunu, which is one of the few primary helium occurrences in Europe.

Highlights

• The PFS will evaluate the existing geothermal opportunities in more detail alongside potential helium extraction.
• Geothermal opportunities have been identified through advanced interpretation of existing geophysical data, including a recently completed passive seismic survey, which has revealed previously unrecognised subsurface anomalies consistent with geothermal prospectivity.
• A PFS is now underway to assess the dual resource potential at Tunu, led by Sproule-ERCE’s internationally recognised geothermal team, which has supported over 200 megawatt (“MWth”) of geothermal heat capacity and performed over 40 geothermal feasibility studies and geothermal construction projects globally.
• Sproule-ERCE’s global expertise will be key to de-risking Tunu and unlocking its newly discovered potential shaping its next development phase.
• The PFS is scheduled for completion by the end of August 2025, providing Pulsar with a robust technical and economic foundation for future project decisions.
  

Thomas Abraham-James, President & CEO of Pulsar, commented:

“We are delighted to partner with Sproule-ERCE, whose deep expertise and global track record in geothermal and resource consulting is second to none. The Tunu project is a unique opportunity, combining primary helium and geothermal energy potential in a highly strategic location. This Pre-Feasibility Study could be a crucial step in unlocking additional value for our shareholders and support Europe’s critical raw materials and clean energy ambitions. We look forward to sharing results as the study progresses.”

About the Tunu Project

Pulsar’s Tunu Project is located on the east coast of Greenland, near Ittoqqortoormiit and the Scoresby Sound fjord system. The Project is notable for being one of the few primary helium occurrences identified in Europe, with helium concentrations in sampled hot springs reaching up to 0.8%, and also demonstrates significant geothermal energy prospects with reservoir temperatures estimated between 80°C and 110°C, making cogeneration of power and heat potentially feasible. The gas composition is primarily nitrogen and helium, and is not associated with hydrocarbons, which is rare among global helium projects.

A 2024 passive seismic survey identified two main low-velocity anomaly zones, indicating fractured reservoirs that could trap helium and provide targets for exploratory drilling, aligning with surface hydrothermal activity and faults linked to gas emissions. Pulsar holds first mover advantage for helium in Greenland, and is the first company to receive a licence for helium exploration in the country, granting exclusive rights for helium, hydrogen, and other minerals (excluding hydrocarbons and radioactive elements), and the Project’s location allows for efficient transport of helium to the European market while also offering the potential for renewable geothermal power for the local community.

The Tunu Project comprises exclusive Special Mineral Exploration Licence 2021-45 (MEL-S 2021/45) and a Non-Exclusive Mineral Prospecting Licence. In accordance with the 'Application procedures and standard terms for mineral exploration and prospecting licences in Greenland', in November 2024 the Company applied for an exclusive exploration licence on normal terms for part of the licence area that contains the Kap Tobin prospect. The application has advanced to ‘License Pending’ status on the Greenland registry, and the Company expects to receive formal confirmation shortly. This licence will replace MEL-S 2021/45 that was due to expire on 31 December 2024 and will have an initial term of five years, which is extendable, subject to meeting certain conditions, to a maximum term of 22 years.

About Sproule-ERCE

Sproule-ERCE is a global leader in energy consulting, providing technical, commercial, and operational expertise across the energy value chain, with a strong track record in geothermal resource assessment and project development. Learn more here: https://sproule.com/

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.

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

OAK Securities*
(Joint Broker)
Jerry Keen (Corporate Broking) / Henry Clarke (Institutional Sales) / Dillon Anadkat (Corporate Advisory)
info@OAK-securities.com
+44 203 973 3678
*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. 

BlytheRay Ltd
(Financial PR)
Megan Ray / Said Izagaren
+44 207 138 3204
pulsarhelium@blytheray.com

About Pulsar Helium Inc.

Pulsar Helium Inc. is a publicly traded company listed on the AIM market of the London Stock Exchange and 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 and the interview 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 potential impact for conducting geophysical surveys, drilling future wells, and a pre-feasibility study at the Tunu Project. 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. No un-risked Contingent and Prospective Helium Volumes have been defined at the Tunu 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 under "Cautionary Note Regarding Forward Looking Statements and Market and Industry Data" and "Risk Factors" in the AIM Admission Document published on October 14, 2024 found on the Company’s web site at https://pulsarhelium.com/investors/aim-rule-26/default.aspx.

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 is the purpose of Pulsar Helium's (PSRHF) Pre-Feasibility Study at Tunu?

The PFS will evaluate both helium extraction opportunities and geothermal potential at the Tunu project in East Greenland, following the discovery of subsurface anomalies consistent with geothermal prospectivity.

When will Pulsar Helium's (PSRHF) Tunu Pre-Feasibility Study be completed?

The Pre-Feasibility Study is scheduled for completion by the end of August 2025.

Who is conducting the Pre-Feasibility Study for Pulsar Helium's Tunu project?

Sproule-ERCE, a leading global energy consultancy with experience in over 40 geothermal feasibility studies and 200 MWth of geothermal heat capacity support.

What makes Pulsar Helium's Tunu project significant in Europe?

Tunu is one of the few primary helium occurrences in Europe, offering dual resource potential with both helium and geothermal energy in a strategic location to support Europe's critical raw materials and clean energy needs.