Pulsar Helium: Accelerates Path to Production

Pulsar Helium Inc. (AIM: PLSR, TSXV: PLSR, FRA: Y3K, OTCQB: PSRHF) has signed a Limited Notice to Proceed (LNTP) for construction and procurement with US group Chart Industries (NYSE: GTLS). This step marks a milestone in the project development for the Topaz Helium Project in Minnesota – with the immediate start of technical planning and procurement work for the construction of the helium and CO₂ processing plant.

The agreement builds on the Letter of Intent signed in November 2024 with Earthly Labs, a subsidiary of Chart Industries, and accelerates the transition to the execution phase. Payments under the LNTP will later be credited towards the full construction contract, which is expected in 2026.

Excellent Well Performance Underpins Project Potential

The Jetstream-1 well delivered peak values of approximately 1.3 million cubic feet per day (MMcf/d) under wellhead compression, with dry gas and no formation water detected. These parameters serve as an important basis for the design of the planned processing plant. As part of the Limited Notice to Proceed for construction and procurement, Chart will undertake the detailed planning for an integrated helium extraction and CO₂ liquefaction plant (Earthly Labs’ CiCi technology). In parallel, a drilling campaign with up to ten core drillings is planned from the end of September 2025 to further define the reservoir. The Final Investment Decision (FID) is scheduled for 2026.

Thomas Abraham-James, CEO of Pulsar, described the LNTP as a “vote of confidence in the potential of the Topaz Project” and emphasized the benefits of the early partnership with Chart to secure components in a timely manner and achieve production on schedule.

The Topaz Project is widely regarded as one of the most significant prospective primary helium deposits in the United States, with the potential to positively influence the country’s future supply outlook. The Jetstream #1 and #2 wells drilled in 2024 and 2025 intersected helium-bearing layers with exceptionally high grades and stable flow rates. With the combination of strong geology and secured processing technology, Pulsar aims to expand its position in the globally growing helium market.

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