Sagebrush Operatorship Approved

Quantum Helium Limited (AIM: QHE) is pleased to announce that it has received notification that operatorship of the Sagebrush Project in Colorado has been approved by the Bureau of Indian Affairs ("BIA").

This key milestone follows an extensive and proactive engagement process undertaken by the Company and its advisors with regulatory authorities and stakeholders. The Company's recent visit to Colorado, including meetings with the Ute Mountain Ute Tribe and regulatory bodies, contributed positively to the progression and successful conclusion of the approvals process.

With notification of operatorship approval now received, Quantum is moving into the next operational phase at Sagebrush, with mobilisation for the extended production test at the Sagebrush-1 well expected to commence shortly after Easter.

Highlights

• Notification received of approval of operatorship for the Sagebrush Project by the BIA
• Final regulatory step completed, enabling Quantum to take operational control
• Mobilisation for extended production test at Sagebrush-1 to commence post-Easter
• Over 1 Bcf of independently assessed prospective helium resources across Sagebrush and Coyote Wash
• Strong market backdrop with increasing global focus on helium supply security

Operational Update - Sagebrush-1

The extended production test at Sagebrush-1, which is expected to run over a number of weeks, represents a key near-term operational milestone for Quantum.

The well historically encountered non-combustible gas with measured helium concentrations of approximately 2.76%, providing strong technical validation of the helium potential within the Leadville Formation. The upcoming test is designed to assess flow rates and confirm commercial deliverability.

Importantly, the extended production test is expected to support the progression of the Company's existing helium resources into reserves, representing a significant step forward in the commercial development of the project.

Extensive planning and procurement of long-lead items have already been completed, allowing the Company to move efficiently into the testing phase following notification of operatorship approval.

The Company will update the market once testing has commenced and as operations progress

Strategic Position

Quantum has prospective helium resources of over 1 Bcf across its Sagebrush and Coyote Wash projects, providing a strong foundation for development.

The Company's strategy of combining helium exploration with existing oil production - which generated over US$600,000 in gross revenue in 2025 - provides both technical and financial support as it advances towards helium production.

Market Context

The advancement to testing at Sagebrush comes at a time of increasing global focus on helium supply security, with recent geopolitical developments in the Middle East disrupting a significant portion of global production. Industry sources indicate that up to one-third of supply has been impacted, with suppliers already implementing allocation measures and prioritising critical sectors such as medical imaging, semiconductor manufacturing and aerospace.

Against this backdrop, the importance of secure and domestic helium supply in the United States has become increasingly apparent. Quantum's Sagebrush and Coyote Wash projects, with over 1 Bcf of independently assessed helium resources, are well positioned within this evolving market, with the upcoming production test at Sagebrush-1 representing a key step towards potential future supply.

Outlook

With notification of operatorship approval now received, Quantum is entering a highly active operational phase, with the extended production test at Sagebrush-1 set to be the immediate focus.

The Company believes that the combination of independently verified helium resources, existing oil production providing revenue support, and near-term operational catalysts positions it strongly as it advances towards potential helium development.

Howard McLaughlin, Chief Executive Officer of Quantum Helium, said: "This is a major milestone for Quantum and reflects a significant amount of work by the team to advance Sagebrush through the regulatory framework.

We would also like to thank the Ute Mountain Ute Tribe for their continued support and engagement throughout, which has been invaluable in reaching this point, and we are grateful to our shareholders for their patience throughout what has been a detailed approval phase.

Receiving notification of operatorship approval marks a key step forward for the Company, allowing us to move into the next phase of activity, with mobilisation for the extended production test scheduled to commence shortly after the Easter break. Sagebrush-1 has already demonstrated the presence of helium, and this next stage is focused on confirming its commercial potential and advancing our resources towards reserves.

With increasing global focus on helium supply security, particularly in the United States, we believe Sagebrush is strongly positioned as we enter this important and exciting phase of operations."