Financial and Operating Results Q2 2025

PULSAR ANNOUNCES FINANCIAL AND OPERATING RESULTS FOR THE SIX MONTHS ENDED MARCH 31, 2025

Pulsar Helium Inc. (AIM: PLSR, TSXV: PLSR, OTCQB: PSRHF) ("Pulsar" or the "Company"), the helium project development company, is pleased to announce its financial and operating results for the six months ended March 31, 2025 (the "Period").

Selected financial and operational information is outlined below and should be read in conjunction with the Company's unaudited consolidated financial statements and related management's discussion and analysis (the "MD&A") for the Period, which are available on the Company's website at www.pulsarhelium.com and at the following links:

• Financial Statements: http://www.rns-pdf.londonstockexchange.com/rns/5025K_1-2025-5-28.pdf
• MD&A: http://www.rns-pdf.londonstockexchange.com/rns/5025K_2-2025-5-28.pdf

All figures are in US dollars ("US$") unless otherwise stated.

The Company's primary focus is the exploration and development of the Topaz Project, located in northern Minnesota, USA, close to the Canadian border. The Company's assets within the Topaz Project comprise leases of private mineral rights over a total of 5,979 gross acres in Minnesota, where the State of Minnesota passed new helium-targeted legislation in May 2024 providing increased certainty of developing the project. The Topaz Project comprises primarily helium (with the gas not being a by-product of hydrocarbon production), representing a more sustainable development project.

Operational Highlights in the Period

• On January 13, 2025, the Company announced the successful completion of the deepening operation for the Jetstream #1 appraisal well. The drilling operation reached total depth ("TD") of 5,100 feet (1,555 metres) on January 11, 2025, successfully penetrating the entire interpreted helium-bearing reservoir and beyond.
• On February 3, 2025, the Company announced the successful completion of a drilling operation at the Jetstream #2 appraisal well, reaching total depth of 5,638 feet (1,718 metres) on February 1, 2025. Mud log data reported helium levels up to 3.5%, which were proved to be contaminated with air and uncontaminated samples, once collected, are expected to report higher and truer levels.
• On February 20, 2025, the Company announced that down-hole testing equipment is scheduled to mobilise to site on February 24, 2025. The tools consist of an optical televiewer and LithoScanner, both of which will be run on both the Jetstream #1 and #2 appraisal wells. These tests will further refine the Company's understanding of the reservoir properties and production potential.
• On April 28, 2025, the Company announced that pressure and flow testing operations were conducted on the Jetstream #1 and Jetstream #2 appraisal wells with well-head pressure at both being highly encouraging, reaching 122 pounds per square inch gauge ("PSIG") at Jetstream #1 and 151 PSIG at Jetstream #2. Well-head pressure at Jetstream #2 is greater than Jetstream #1 was in February 2024 (145 PSIG) when it achieved a flow rate of 821,000 cubic feet per day, under well-head compression.
• During flow testing activities, it was discovered that drilling fines (rock dust) created by the air drilling method (that pulverizes the rock) were present within fractures and partially coating the wellbore wall. The creation of drilling fines is commonplace when air drilling. Although gas flow may be restricted, pressure communication still occurs (albeit also constrained) which is why the Company was unaware of the restricted flow until testing commenced.
• The Company has performed a preliminary clean-up on both wells to mobilise the drilling fines, achieving improved flow results, demonstrating that the drilling fines are mobile and can be removed. Despite the currently restricted conditions, stable and consistent flow rates were achieved with both wells flowing natural flow and on compression.
• Further flow testing of both wells will commence when clean-up is complete and the drilling fines have been removed.

Financial Summary for the Period

• Loss for the Period was $7,118,554 and comprises:
• Administration costs of $1,955,208 (which includes non-cash share-based compensation of $299,943 and non-cash depreciation of $26,489).
• Exploration and evaluation expenditures of $5,771,409 relate to the deepening of Jetstream #1 and drilling of Jetstream #2 at the Topaz project as described above.
• Listing fees of $355,003 related to Admission.
• A non-cash gain on revaluation of warrant liability of $963,006.
• Funding and Cash Position: $1,659,888 at March 31, 2025.
• On October 18, 2024, the Company's common shares commenced trading (the "Admission") on the AIM market of the London Stock Exchange plc ("AIM") under the symbol PLSR. Concurrent with Admission, the Company completed of a total gross funding of £5 million which included the £1.125 million cornerstone investment completed in August 2024.
• On January 9 and March 21, 2025, the Company completed a brokered private placement, in two tranches, for gross proceeds of $2,427,498 which included participation from high net worth and institutional investors from the USA, including University Bancorp, Inc. ("University Bancorp") that now holds 4.93% of the issued and outstanding common shares of the Company.
• In April 2025, the Company entered into a project financing facility line of credit note with University Bancorp, pursuant to which University Bancorp has extended the Company a $4,000,000 project finance facility (the "Facility"). In April and May, 2025, the Company drew, in aggregate, $2,000,000 of the Facility.

Selected Financial Results

* During the Period, the Company recorded a non-cash gain on revaluation of warrant liability of $963,066 (2024 - loss of $13,037,216)

Thomas Abraham-James, President & CEO of Pulsar, commented: "We are extremely encouraged by the progress made at the Topaz Project during the first half of 2025. The successful drilling and flow testing of both Jetstream #1 and #2 appraisal wells, along with the positive well-head pressures recorded, reinforce the significant potential of our Topaz primary helium project. With the support of recent project financing and ongoing technical advancements, Pulsar is well-positioned to unlock further value for our shareholders and advance towards sustainable helium production."

Marketing Engagement and Clarification on Marketing Engagement

The Company also announces the engagement of Oak Hill Financial Inc. (the "Oak Hill Engagement").

Oak Hill Financial Inc. ("Oak Hill") is a Toronto, Ontario, Canada based capital market advisory firm that provides advisory and capital markets services to private and public growth companies. The Company signed an agreement with Oak Hill on May 28, 2025, for a monthly fee of CAD$7,200, to be paid in cash, with the services commencing on June 2, 2025 (the "Effective Date"), and expiring 3 (three) months from the Effective Date, after which the agreement will renew on a month to month basis unless terminated by either party with five (5) days' notice. Oak Hill has advised the Company that it does not hold any securities of or other interest in the Company. Oak Hill and the Company are unrelated and unaffiliated entities.

The Oak Hill Engagement remain subject to the approval of the TSX Venture Exchange.

Further to the Company's news release dated April 7, 2025 which included an announcement of the Company's engagement of VSA Capital Limited ("VSA Capital"), the Company advises that it engaged VSA Capital on April 4, 2025, and not on April 1, 2025, as previously disclosed. The Company also clarifies that it paid VSA Capital the £5,000 annual cash fee in full and in advance of VSA Capital providing services to the Company. All other terms relating to the engagement between the Company and VSA Capital remain unchanged and are as previously disclosed.

On behalf Pulsar Helium Inc.

"Thomas Abraham-James"

President, CEO and Director

Pulsar Helium Inc.

+ 1 (218) 203-5301 (USA/Canada)

+44 (0) 2033 55 9889 (United Kingdom)

Strand Hanson Limited

(Nominated & Financial Adviser, and Joint Broker)

Ritchie Balmer / Rob Patrick / Richard Johnson

OAK Securities*

(Joint Broker)

BlytheRay Ltd

(Financial PR)

Megan Ray / Said Izagaren

About Pulsar Helium Inc.

Qualified Person Signoff