CASCAIS, Portugal, June 02, 2026 (GLOBE NEWSWIRE) -- Pulsar Helium Inc. ((AIM: PLSR, TSXV:PLSR, OTCQB:PSRHF) ("Pulsar" or the "Company"), a primary helium company, is pleased to announce its financial and operating results for the six months ended March 31, 2026 (the "Period").
Selected financial and operational information is outlined below and should be read in conjunction with the Company's unaudited condensed interim consolidated financial statements and related management's discussion and analysis (the "MD&A") for the six months ended March 31, 2026, which are available on the Company's website at www.pulsarhelium.com and the Company's SEDAR+ profile at www.sedarplus.ca.
All figures are in US dollars ("$") unless otherwise stated.
Operational Highlights for the Period
Between October 2025 to March 2026, the Company drilled five core-hole wells at its flagship Topaz Project in Minnesota, with all wells encountering gas under high pressure. The Company is now obtaining quotes for the drilling of up to four new production wells to supplement the two production-ready wells already drilled.
In May 2026, Governor Tim Walz signed into law new legislation establishing a helium-specific framework for gas resource development in northeastern Minnesota, and the Minnesota Department of Natural Resources issued proposed expedited permanent rules for permitting gas resource development on May 18, 2026. These developments come amid a sharp tightening of global helium supply, driven by disruption to the Strait of Hormuz, attacks on QatarEnergy's Ras Laffan facilities (noting that Qatar supplies approximately 35% of the world's helium), and new Russian export controls in place through the end of 2027. In the United States, some helium customers have already been subject to allocation measures and surcharge notices from major industrial gas suppliers, underscoring the urgent need for secure, domestic, primary helium supply.
In May 2026, the Company completed the acquisition of certain surface land in Lake County, Minnesota, located within the Topaz Project for a purchase price of $2,480,000 cash.
In January 2026, two U.S. Federal laboratories independently confirmed the helium-3 (3He) isotope concentration from the Topaz Project. The U.S. Geological Survey Noble Gas Laboratory in Denver and Lawrence Livermore National Laboratory in California each analyzed raw gas samples from the Jetstream #1 well, both laboratories reported results consistent with prior analyses conducted by the Woods Hole Oceanographic Institution, confirming the presence of ³He in the gas with a concentration range of 11.2-11.9 parts-per-billion (ppb) and associated with 7.7- 8.0% helium-4 (4He), respectively.
Acquisitions for the Period
In March 2026, the Company completed the acquisition of 80% of the common shares of Quantum Hydrogen Inc. ("Quantum"), a Texas corporation, through the issuance of 584,963 common shares. Quantum holds exclusive mineral rights for non-hydrocarbon gases in Minnesota that are located in the St. Louis and Itasca Counties to the west of the Company's Topaz Project. The Company has the option to acquire the remaining 20% of Quantum until May 3, 2027, for an additional $400,000 payable in common shares of the Company.
In January 2026, the Company completed the acquisition of 100% of the common shares of Hybrid Hydrogen Inc. ("Hybrid") for total consideration of $105,000 cash. Hybrid holds an exclusive mineral rights option to lease in Michigan's Upper Peninsula, targeting non-hydrocarbon gases (primarily helium). The Company now refers to this project as the Falcon helium project.
Financial Highlights for the Period
During the Period, the Company recorded exploration and evaluation expenditures of $6.0 million related to drilling at the Topaz project as described above.
During the Period, the Company completed a ...
