Jackson-31 Drilling Update Galactica Project

Helium One Global (AIM: HE1), the primary helium explorer in Tanzania with a 50% working interest in the Galactica-Pegasus helium development project in Colorado, USA, acknowledges the Blue Star Helium (ASX: BNL) ("Blue Star") announcement issued today regarding the Galactica-Pegasus project in Las Animas County, Colorado, USA ("the Galactica Project").

Summary

• Roads to Jackson-31 and Jackson-4 wells being gravelled to facilitate winter access
• Rig mobilization to commence early-February due to weather conditions

Blue Star announced that winter conditions in Colorado have presented ongoing challenges. To ensure continued access to the well sites during cold, snow, and thaw periods, Blue Star has made the decision to gravel the roads leading to the Jackson-31 and Jackson-4 well locations. Road gravelling operations are progressing well despite recent severe winter weather impacting much of the USA.

To avoid anticipated snow and challenging weather conditions in the coming weeks, Blue Star have decided to delay the mobilization of the drilling rig to location. The rig move is now targeted for the week beginning 10 February.

The initial well in the drilling campaign remains the Jackson-31 SENW 3054, followed by the Jackson-4 L4 3154. The campaign includes three additional approved wells, with the final drilling sequence to be confirmed after the completion of Jackson-4.

Work is continuing on the permitting and engineering for the Pinon Canyon processing plant in anticipation of first gas production in 1H 2025.