Galactica Project Update

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 ("the Galactica Project"), provides an update following the Blue Star Helium (ASX: BNL) ("Blue Star") announcement issued today regarding activities at the Pinon Canyon Plant on the Galactica Project.

Highlights

• First helium gas achieved in December 2025
• Operational focus has now shifted to stabilising production throughput
• First helium tube trailer currently onsite for filling and early revenue
• Blue Star is pursuing short-term contracts to secure immediate cash flow and long-term partnerships for stable revenue
• Further revenue growth expected during H1 2026 through additional well tie-ins and infill

Plant Optimisation and Commercial Readiness

Technical teams are now onsite at the Pinon Canyon Plant, where the focus is on optimising processing equipment and stabilising throughput to meet the delivery requirements of Blue Star's initial short‑term offtake agreements. This optimisation phase is a key step in ensuring that the facility - the newest helium processing plant of its kind in the United States - is operating at peak performance as production volumes scale.

As part of this commissioning and refinement work, a recycling container and the first offtake helium tube trailer are on location and are receiving saleable gas. A standard steel helium tube trailer typically holds ~170,000 scf (170 Mscf) of compressed helium. Based on the value metrics set out by Blue Star, each fully loaded trailer represents an estimated gross value of between US$59,500 and US$102,000.

Offtake Strategy

The achievement of first gas at Galactica represents a major operational and commercial milestone for the Joint Venture, demonstrating clear progress toward establishing a reliable, scalable supply source in the U.S. helium market.

The Galactica Project is emerging as an attractive new domestic supply option for U.S. helium and CO₂ buyers seeking to diversify and strengthen their sourcing portfolios. The Blue Star teams have been engaging directly with a wide spectrum of potential customers, ranging from large‑scale transport and bulk storage providers to mid and small‑scale transport operators, packaged gas distributors, and key end‑use sectors.

Blue Star is targeting a balanced mix of short‑term sales arrangements, providing immediate cash flow and longer‑term offtake agreements, offering more predictable, stable revenue as production increases.

Planning is well advanced for additional tie‑ins and infill drilling, designed to expand supply to the Pinon Canyon processing plant. These activities form a core part of the Joint Venture's strategy to scale gas processing capacity and deliver meaningful revenue ramp‑up through 2026.