Pulsar Receives Positive Results from Wireline Logs for the Jetstream #1 Appraisal Well at the Topaz Helium Project

VANCOUVER BC / ACCESSWIRE / March 25, 2024 / Pulsar Helium Inc. (TSXV:PLSR)(OTCQB:PSRHF) ("Pulsar" or the "Company") is pleased to announce that it has received the wireline log interpretation from Asia-Pacific Formation Evaluation Services Pty Ltd for the Jetstream #1 appraisal well* at the Topaz helium project in Minnesota. A predominantly gas saturated interval has been interpreted between 1,650 - 2,200ft (503 - 671 meters) containing discrete zones where productive permeability appears to occur. Drilling observations and log data interpretation suggest the presence of permeable zones in the form of fracture and/or vuggy porosity within the host igneous rock. Additional wireline data is scheduled to be acquired when Jetstream #1 is being prepared for the upcoming pressure build-up and flow testing operation.

The Jetstream #1 appraisal well reached total depth (TD) of 2,200 feet (671 meters) on February 27^th and has been designed to include intermediate casing and a wellhead capable of becoming a helium production well. On March 14^th the Company announced concentrations of up to 13.8% helium measured by specialist gas laboratories, and on February 28^th, Baker Hughes collected a high-quality set of wireline logs. The logs in conjunction with cuttings lithology descriptions, x-ray fluorescence and mud log data were interpreted by an independent petrophysicist at Asia-Pacific Formation Evaluation Services Pty Ltd.

Notable conclusions from the independent petrophysical review are as follows:

• A high-quality formation evaluation data set was acquired,
• Reliable mineralogy and total porosity models have been established, and
• Saturation and the nature of the pore system are uncertain from these results, but productivity appears to be associated with larger-scale discrete porosity features such as fractures and vugs.

Not all desired wireline data could be acquired by Baker Hughes due to a lack of fluid level in the borehole and as a result additional logs are planned to further assess reservoir characteristics, and the porosity types prior to the well testing program. In addition, to further refine the petrophysical interpretation, the Company is having additional lab analysis performed on the drill cuttings and the LOD-6 (2011 discovery well) drill core.