NEWS RELEASE | OCTOBER 10, 2023 | VANCOUVER BC
PULSAR SIGNS LEASE FOR ADDITIONAL MINERAL RIGHTS AND COMPLETES SEISMIC SURVEY AT THE TOPAZ
HELIUM PROJECT, USA
Pulsar Helium Inc. (TSXV:PLSR & FRA:Y3K) (“Pulsar” or the “Company”) is pleased to announce that it has signed a lease with a private mineral rights holder to expand the area of the Company’s Topaz helium project in Minnesota, USA. In addition, the ambient noise tomography (ANT) survey has successfully concluded with all nodes retrieved and data downloaded.
The additional mineral rights are within a 6.2 mile (10 kilometre) radius of the Topaz discovery that was drilled and flowed a concentration of 10.5% helium. The lease is for privately held mineral rights covering a total of 2,840 gross acres (1,049 net acres), over 75 parcels. The lease is for an initial term of 20 years (extendable up to a maximum of 40 years, subject to conditions) with a payment on signing of U$11,000 and a retained production royalty of 3%. The lease gives Pulsar exclusive rights to non-hydrocarbon gases. The mineral rights are adjacent to Pulsar’s existing parcels and are considered high-priority with significant potential for hosting helium accumulations.
The ANT survey has been successfully completed with a total of 183 nodes retrieved from the Topaz helium project. ANT is commonly referred to as passive seismic as the technology utilises passive, naturally occurring seismic waves to record data on features in the subsurface. The data has been downloaded and sent to Sisprobe for processing, interpretation and final reporting, with deliverables due in approximately 4 weeks. The survey is expected to further de-risk the drilling program and improve Pulsar’s understanding of the extent of the resource.
About the Topaz helium project:
As announced September 25, 2023, the Jetstream #1 appraisal well is scheduled to commence on December 10th and is planned to be drilled to a vertical depth of 2,200 feet (671 metres), with the collar location anticipated to be within 65 feet (20 metres) of the original discovery well, LOD-6, that flowed 10.5% helium.
During drilling, a gas chromatograph and mass spectrometer will be on location to provide real-time gas
composition measurements including helium concentration. Permits from Federal, State, and Local
Government entities required for drilling activities are in place. Preliminary civil works were conducted in March and final access and drill-site civil works are expected be completed by mid-November. The drill location is on private mineral rights for which Pulsar has an exclusive lease for non-hydrocarbon gases, in addition, the Company has agreed upon terms to acquire the surface rights.
