Sagebrush Stimulation and Operations Update

Quantum Helium Limited (AIM: QHE) is pleased to provide an update on preparations for the next phase of stimulation and flow testing at its Sagebrush-1 helium discovery in Colorado, USA, where the Company holds a 90% working interest.

Detailed engineering and operational planning for the larger-volume, propped fracture stimulation programme is now substantially complete, with the Company in the process of finalising the remaining technical and logistical arrangements ahead of field operations targeted to commence in November 2026.

Highlights

• Detailed engineering and design of the larger-volume stimulation programme substantially complete, with final treatment parameters being refined by experienced US fracture stimulation engineers.
• Programme designed to improve reservoir connectivity and establish stronger, more sustainable helium-bearing gas flow rates.
• Treatment designed to access a broader section of the Leadville Formation, including potential connectivity with the deeper Lower Leadville dolomite.
• Company completing contractor and equipment arrangements, including specialist pumping services, high-pressure tubing, water handling and associated surface equipment.
• Final operational preparations underway ahead of targeted November commencement.

Sagebrush-1 - Stimulation Programme

Following the initial extended production test, which confirmed helium-bearing gas at approximately 2.5% helium, Quantum has undertaken a comprehensive engineering review to optimise the next phase of stimulation at Sagebrush-1.

The resulting larger-volume, propped fracture stimulation programme has been designed to create and maintain conductive pathways within the Leadville reservoir, improving access to the helium-bearing formation and supporting stronger, sustained gas flow.

The treatment is designed to maximise effective reservoir contact, with the potential to access both the Upper Leadville and deeper Lower Leadville intervals.

The Company is working closely with experienced specialist fracture stimulation engineers to complete the final treatment specifications. In parallel, Quantum is completing arrangements for high-pressure pumping operations, pressure-tested tubing and associated surface equipment to ensure the appropriate resources and equipment are in place for the programme.

Next Steps

With the principal engineering work now substantially complete, the Company is focused on completing the final treatment specifications, securing the required specialist equipment and services, and coordinating contractor mobilisation ahead of the planned field operations.

The primary objective is to demonstrate improved, sustainable flow rates from Sagebrush-1, providing the production data required to assess the next stage of commercial helium development.

Operations remain targeted for November 2026, subject to final operational scheduling and equipment availability.

Howard McLaughlin, Chief Executive Officer of Quantum Helium, commented: "We are making excellent progress towards the next phase of operations at Sagebrush and are now entering the final stages of preparation for what we believe will be a very important operational programme.

"Extensive engineering work has been undertaken alongside highly experienced fracture stimulation specialists to design a treatment that gives us the best opportunity to establish stronger, sustainable gas flow rates from the Leadville reservoir.

"We have already confirmed the presence of helium and demonstrated the scale of the reservoir structure. Our focus now is on applying the appropriate engineering solution to improve reservoir connectivity and establish the flow characteristics required to advance Sagebrush towards commercial development.

"With the principal engineering work substantially complete, we are now finalising the equipment, contractor and operational arrangements required to execute the programme. We are looking forward to getting back on site and commencing this important next phase of operations."