Mr. Greg Robb reports

HELIUM EVOLUTION ANNOUNCES FARM-IN PARTNER TO DRILL SECOND JOINT WELL

Helium Evolution Inc.'s farm-in partner, North American Helium Inc. (NAH), has served the company notice of its intention to drill a joint well on the lands NAH earned pursuant to the farmout agreement announced on Oct. 21, 2022. The joint well is expected to spud before the end of November, 2023, and will be located at 9-18-3-8W3M (joint well No. 2). Joint well No. 2 is the second confirmed joint well and is in addition to the eight previously announced wells to be drilled by NAH on Helium Evolution lands.

Helium Evolution has confirmed that it will participate in the drilling of joint well No. 2 at its 20-per-cent working interest, which is estimated to cost the company approximately $400,000 net. Funding of the company's share of joint well No. 2 is supported by Helium Evolution's strong working capital position which totalled $8.8-million at June 30, 2023.

About Helium Evolution Inc.

Helium Evolution is a Canadian-based helium exploration company holding the largest helium land rights position in North America among publicly traded companies, focused on developing assets in southern Saskatchewan. The company has over five million acres of land under permit near proven discoveries of economic helium concentrations which will support scaling the exploration and development efforts across its land base. The company's management and board are executing a differentiated strategy to become a leading supplier of sustainably produced helium for the growing global helium market.

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