High Concentrations of Helium Detected - Outokumpu

80 Mile Plc ("80 Mile" or the "Company") is pleased to announce is pleased to announce a significant breakthrough in its ongoing exploration program in the Outokumpu Belt, Finland. Following the previously disclosed work program aimed at evaluating the potential for geological hydrogen and helium, the Company has successfully identified high concentrations of helium at surface in select historical drill holes.

Significant Findings:

• Helium Concentrations: Recent tests on historical drill holes have revealed helium concentrations at the surface, with notable stabilized values of up to 10.7% Helium in the Perttilahti Area, located in the centre of the Companies tenement package on the belt. These findings exceed initial expectations and underscore the substantial potential of the Outokumpu Belt for industrial gas resources.
• Surface Sampling Success: The surface sampling program utilized a portable helium detector, allowing the Company to measure gas concentrations, at surface, directly from the historical drill holes. These high surface helium readings are a promising indicator of the deeper subsurface potential within the region.
• This marks the first published occurrence of helium detected flowing to the surface in Finland. Previously, helium was identified in solution within groundwater at depth, but this surface detection is a major advancement. The presence of helium at surface, as opposed to being dissolved in groundwater, is a significant result, highlighting the potential for accessible and commercially viable helium resources in the region.
• The results not only validate the historical data previously collected but also position the Company to fast-track further exploration efforts. The measurement of high helium concentrations at surface provide a robust foundation for the continued evaluation of the Outokumpu Belt's potential as a major source of industrial gases.
• Gas samples from a 2480-meter-deep drill hole, analysed by the GTK, has additionally revealed up to 46% geological hydrogen, highlighting the belt's potential for industrial gas reserves.
• Extensive Historical Data: >2000 historical drill holes provide robust foundation for fast-tracking gas assessment across the 40-kilometer licence holding

Upcoming Exploration Program:

In light of these promising results, 80 Mile plans to intensify its exploration activities in the Outokumpu Belt. The Company will undertake further detailed sampling and analysis, focusing on areas with the highest helium concentrations. This will include additional surface sampling, re-entering select drill holes for deeper testing, and integrating the findings with historical seismic data to pinpoint the most prospective zones.

The Company has additionally begun planning a proof of concept study aimed at assessing the commercial recovery of helium and hydrogen from existing deep drill holes. This study will focus on evaluating the technical and economic feasibility of extracting these gases using modern recovery techniques. The success of this study could represent a significant step towards generating cash flow from the project, though the Company remains cautious in its approach and will proceed methodically to ensure all factors are thoroughly considered.

Eric Sondergaard, Managing Director of 80 Mile Plc, commented:

"We are thrilled with the initial surface helium concentrations identified in the Outokumpu Belt. These results exceed our expectations and provide strong evidence of the region's potential as a significant source of helium and other industrial gases. Our exploration strategy, supported by extensive historical data and modern sampling techniques, is yielding tangible results that could unlock substantial value for our shareholders."

"The detection of helium or hydrogen flowing at the surface is highly significant due to the small molecular size of these gases. Helium and Hydrogen are the smallest and lightest elements, with a very low molecular weights. These characteristics make both gases extremely mobile and capable of escaping from subsurface reservoirs into the atmosphere over time. For helium or hydrogen to be detected at surface levels, there must be a sustained and significant source of these gases continuously feeding upward, suggesting the existence of large, potentially commercially viable subsurface accumulations."

"Such discoveries are rare and could potentially be tapped for commercial use, especially in the case of helium, which is a critical resource with various industrial applications, including in medical technology, space exploration, and cryogenics."

"We have only begun to scratch the surface at Outokumpu. We are committed to accelerating our work program and leveraging these findings to further delineate the helium and hydrogen potential of the Outokumpu Belt. Our goal is to advance towards commercial viability in the most efficient and cost-effective manner possible"

Figure 2. Outokumpu Belt showing existing drillholes, and Helium and Hydrogen generating highly serpentinized ophiolites

Figure 3. Helium, Argon, Lithium Results with Geophysical interpretation, modified from "Characterisation and Isotopic evolution of saline waters of the Outokumpu Deep Drill Hole, Kietäväinen 2013"

Short Standard Operating Procedure (SOP) for He Field Gas Analysis:

Navigate to the Drill Collar:

o Arrive at the specified drill collar location using GPS coordinates.

Initialize Equipment:

o Power on the FD-311 He analyzer.

o Allow the units to complete their pre-startup checks.

o Ensure all units display a 0.00 reading upon startup completion.

Document Location and Hole ID:

o Record the Hole ID from the cap on the casing.

o Cross-reference the Hole ID with GPS data.

o Take a photograph of the Hole ID, GPS coordinates, and collar location.

Insert Collection Tube:

o Insert the gas collection tube into the collar, avoiding any contact with water.

o Insert the tube to a depth of up to 20 cm or a safe depth as deemed necessary.

Figure 4: Helium Detector being prepared for casing vent test

Conduct Initial Gas Measurement:

o Take an initial 3-minute reading using the analyzer.

Clear and Reset Analyzer (If Gas is Detected):

o If gas readings are detected, complete the initial 3-minute measurement.

o Remove the analyzer from the collar.

o Clear the analyzer of any residual gases by pumping fresh air through the device for 30 seconds.

o Ensure the unit returns to a 0.00 reading.

Repeat Measurement:

o Reinsert the collection tube and conduct a second 3-minute reading.

o Record any changes in the readings, noting whether they increase, peak, remain consistent, or decrease over time.

Finalize and Move to Next Location:

o After completing the measurements, securely replace the cap on the drill collar.

o Proceed to the next designated location.

This format provides a clear and structured SOP for field gas analysis, ensuring all steps are performed consistently and accurately.

References

Riikka Kietäväinen, L. A. 2013. Characterisation and isotopic evolution of saline waters of the Outokumpu Deep Drill Hole, Finland - Implications for water origin and deep terrestrial biosphere. Applied Geochemistry, Volume 32, 37-51.

Kukkonen, I. T., Rath, V., Kivekäs, L., Šafanda, J. & Čermák, V. 2011. Geothermal studies of the Outokumpu Deep Drill Hole. Geological Survey of Finland, Special Paper 51, 181-198.

Kukkonen, I. T. 2011. Outokumpu Deep Drilling Project 2003-2010. Geological Survey of Finland, Special Paper 51, 252 pages.