CALGARY, AB / ACCESS Newswire / April 1, 2026 / First Helium Inc. ("First Helium" or the "Company") (TSXV:HELI)(OTCQB:FHELF)(FRA:2MC) today acknowledged the heightened focus on the security of global helium, oil and LNG supply amid escalating geopolitical tensions related to the Iran conflict and reconfirmed the strategic positioning of its asset portfolio.

Against this backdrop, First Helium's North American asset base - including its Charlie Lake Shallow Heavy Oil project and a helium contingent resource estimate of 323 million cubic feet^1,2,3 - is increasingly strategic as markets reassess supply risk tied to Middle East production.

"Recent geopolitical developments are reinforcing the importance of stable, North American-sourced energy and helium," said Ed Bereznicki, President & CEO of First Helium. "Our combination of oil development potential, and a significant helium enriched natural gas resource, positions the Company to benefit from growing supply security concerns."

Asset Portfolio Overview

First Helium continues to advance its 53,000-acre (~83 sections) land base at Worsley, Northern Alberta, Canada (See Figure 1). Based on Management's evaluation, highlights include:

Charlie Lake Shallow Heavy Oil Project

• Internal assessment of oil in place and recoveries justifies commercial development

• Currently, over 30 horizontal drilling locations identified across 10 sections (targeting ~125,000 barrels per well)

• Existing Company-owned infrastructure supports lower operating costs

In Q1-2025, the 7-30 well was drilled and completed in the Charlie Lake formation. Approximately 50 barrels of 15-degree API oil was recovered from the well in the two calendar days following an acid stimulation, demonstrating vertical well, cold flow heavy oil capability. Approximately 1 km southeast, the well logs from the previously drilled 1-30 well, in conjunction with clean oil observed at surface while drilling through the same interval as tested in 7-30, confirm Management's assessment of the Charlie Lake formation on its land base.

Helium Project

The Company's helium assets provide exposure to increasing demand for secure, non-Middle East supply.

15-25 Vertical Well (Leduc Formation):

• Tested natural gas with 1.3% helium: development pending processing facility

• Independent contingent resource estimate^1,2,3

  • 323 mmcf helium

  • 12.6 Bcf natural gas

  • 372 mbbls natural gas liquids

• Estimated NPV10 of ~$18 million^2,3,4 (based on C$500/mcf helium)

• Over 9,600 acres of proprietary 3D Seismic at East Worsley, near 1.7% - 5.7% helium content well bores

• Front-End Engineering Design ("FEED") study for 15-25 helium processing facility completed

• 46 km of gas pipelines to support helium gas production across the Worsley Project

5-27 Horizontal Well (West Worsley - Blue Ridge Formation):

• Drilled and cased, ready for completion and testing

• Offset historical production supports helium content of ~0.8-0.9%

• Successful testing leads to additional 31 horizontal drilling locations

7-15 Vertical Well (East Worsley - Blue Ridge Formation):

• Located ~26 km east of 5-27 well

• Tested 1.0% helium content

• Confirms potential for regional, helium enriched natural gas development play spanning the Company's 53,000-acre, 100% owned land base

Geopolitical Context Driving Helium Market Focus

Helium is a critical input for semiconductors, aerospace, and medical imaging, and is designated as a critical mineral by the Government of Canada⁵. Global supply has historically been constrained and is heavily concentrated in a small number of jurisdictions.

Recent reports indicate that a major helium production facility in Qatar - a country responsible for over one-third of global supply - has been disrupted following a drone strike linked to the Iran conflict. These events are intensifying concerns over supply reliability and highlighting the strategic value of stable, North American helium sources.

Ongoing Strategic Initiatives

The Company continues to evaluate opportunities to accelerate development and unlock value across its oil and helium portfolio, including potential partnerships and financing alternatives.

"Our focus remains on advancing our assets in a disciplined manner while positioning the Company to capitalize on evolving global energy dynamics," added Mr. Bereznicki

Notes:

1. The Company engaged Sproule Associates Ltd. ("Sproule"), independent evaluator, to evaluate the Contingent Resources of the Company attributable to the Worsley (15-25) Well. The effective date of the Sproule Report is March 31, 2021 and the preparation date of the Sproule Report is June 18, 2021 and it consists of an evaluation of the helium and P&NG Contingent Resources of the Issuer's interests in a single Leduc pool in the Worsley Well. The Sproule Report was prepared for the purpose of evaluating the Issuer's helium and P&NG Contingent Resources according to the Canadian Oil and Gas Evaluation Handbook (the "COGE Handbook") resource definitions that are consistent with the standards of National Instrument 51-101.

2. "Contingent resources" are not, and should not be confused with, oil and gas, or helium reserves. Sproule Report effective date March 31, 2021. Further information regarding Contingent Resources can be found in First Helium's Final Prospectus, dated June 28, 2021, filed on First Helium's SEDAR+ profile at www.sedarplus.ca.

3. Units: mmcf = million cubic feet, mcf = thousand cubic feet, Bcf = billion cubic feet, mbbls = thousand barrels.

4. Estimates of future net revenue, whether calculated without discount or using a discount rate, do not represent fair market value.

5. https://www.canada.ca/en/campaign/critical-minerals-in-canada/critical-minerals-an-opportunity-for-canada.html .

Figure 1 - Worsley Core Area

ABOUT FIRST HELIUM

Led by a core Senior Executive Team with diverse and extensive backgrounds in Oil & Gas Exploration and Operations, Mining, Finance, and Capital Markets, First Helium seeks to execute its shallow heavy oil growth strategy and position its option for future development of a premium North American, helium-enriched natural gas play.

First Helium holds over 53,000 acres along the highly prospective Worsley Trend in Northern Alberta which has been the core of its exploration and development drilling activities to date.

Building on its successful 7-30 shallow heavy oil discovery well, 15-25 helium discovery well, 1-30 and 4-29 light oil wells, and the 5-27 helium-enriched natural gas horizontal evaluation well at the Worsley project, the Company has identified numerous follow-up drill locations and acquired an expansive infrastructure system to facilitate future exploration and development across its Worsley land base. Cash flow from its successful oil wells at Worsley has helped support First Helium's ongoing exploration and development growth strategy.

For more information about the Company, please visit www.firsthelium.com.

ON BEHALF OF THE BOARD OF DIRECTORS

Edward J. Bereznicki
President, CEO and Director

CONTACT INFORMATION

First Helium Inc.
Investor Relations
Email: ir@firsthelium.com
Phone: 1-833-HELIUM1 (1-833-435-4861)

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

SOURCE: First Helium Inc