CALGARY, Alberta, April 20, 2026 (GLOBE NEWSWIRE) -- Helium Evolution Incorporated (TSXV:HEVI) ("HEVI" or the "Company"), a Canadian-based helium exploration company focused on developing assets in southern Saskatchewan, is pleased to provide an operational and corporate update, including the successful completion of its 3D seismic program in the Grasslands/Mankota region, changes to its Board of Directors (the “Board”) and commentary on strengthening helium market fundamentals.

3D Seismic Program – Grasslands/Mankota Area

The Company, in partnership with North American Helium Incorporated (“NAH”), has successfully completed its approximately 170-square kilometer 3D seismic program across its Mankota/Grasslands core area in Saskatchewan (49% working interest HEVI/51% working interest NAH). Processing and interpretation of the seismic data are currently underway and will take approximately six weeks to complete. The program represents a key milestone in sharpening structural mapping and high-grading HEVI’s helium targets ahead of planned drilling activity later this year.

Board of Directors Update

The Company is pleased to announce the nomination of the Honourable Dustin Duncan to its Board at the upcoming annual general meeting.

Mr. Duncan brings extensive public policy and leadership experience, having served 18 years as a senior member of the Government of Saskatchewan, including as Minister of Energy and Resources and Minister of Environment. During his tenure, he played a key role in advancing Saskatchewan’s energy and resource sectors, with a focus on regulatory development, sustainability, and economic growth. Mr. Duncan’s deep understanding of Saskatchewan’s resource landscape and stakeholder environment will be a valuable addition to the Board.

“We are excited to welcome Dustin to the HEVI team. His experience in energy policy and strong relationships across Saskatchewan will be invaluable to HEVI as we continue to grow and execute our development plans,” said Jim Baker, Chair of the Board.

Mr. Duncan’s nomination follows the Honourable Brad Wall’s decision to step down from the Board to focus on other board and professional commitments.

“On behalf of the Board and management team, I would like to sincerely thank Brad for his leadership, insight, and meaningful contributions to the Company over the past five years,” said Baker.

Helium Market Strength Continues

Global helium markets are experiencing significant supply disruption following two major developments in the past six weeks. In March 2026, an attack on Qatar’s Ras Laffan Industrial City — one of the world’s most critical helium processing hubs, responsible for approximately 33% of global helium supply — took production offline, with repairs expected to take 3-5 years before full production is restored. Separately, Russia, which accounts for approximately 10% of global helium supply, has announced restrictions on helium exports to prioritize domestic needs and those of its closest allies, with that restriction expected to remain in place through at least the end of 2027. Combined, these two developments have removed over 40% of global helium supply from the market simultaneously.

The real-world impact is already being felt in Canada. The Saskatchewan Health Authority has been warned of a 50% cut to its helium supply, putting MRI machines and critical medical infrastructure at risk. University research facilities across the country are experiencing similar disruptions. This is the fifth global helium shortage in the past 20 years, and the most severe to date.

Against this backdrop, Canadian helium exploration and development, particularly in the stable jurisdiction of Saskatchewan, has become increasingly strategic and has recently grown to approximately 3% of global supply. The Company believes these market conditions reinforce the long-term importance of HEVI’s Saskatchewan-based helium assets and position the Company to benefit from a strengthening and potentially sustained favorable pricing environment.

Stay Connected to Helium Evolution

Shareholders and other parties interested in learning more about the Helium Evolution opportunity are encouraged to visit the Company’s website, which includes an updated corporatepresentation, and are invited to follow the Company on LinkedIn and X for ongoing corporate updates and helium industry information. Helium Evolution also provides an extensive, commissioned ‘deep-dive’ research report prepared by a third party whose background includes serving as a research analyst for several bank-owned and independent investment dealers.

About Helium Evolution Incorporated

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. HEVI’s management and board are executing a differentiated strategy to become a leading supplier of sustainably-produced helium for the growing global helium market.

For further information, please contact:

StatementRegardingForward-LookingInformation

This news release contains statements that constitute "forward-looking statements." Such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements, or developmentsintheindustrytodiffermateriallyfromtheanticipatedresults,performanceorachievementsexpressedorimplied bysuchforward-lookingstatements.Forwardlookingstatementsarestatementsthatarenothistoricalfactsandaregenerally, butnotalways,identifiedbythewords"expects,""plans,""anticipates,""believes,""intends,""estimates,""projects,""potential" and similar expressions, or that events or conditions "will," "would," "may," "could" or "should" occur.,

Forward-looking statements in this document include statements regarding the Company becoming a leading supplier of sustainably-produced helium, capital availability, finalizing drilling targets, commencing a drilling program later this year, timing and processing and interpretation of 3D seismic, integration of future drilling opportunities, helium pricing, demand and supply fundamentals, benefits of the 3D Seismic, maximizing value, the Company being well-positioned to execute its plan, changes to Board, and HEVI’s working interest and related funding and other statements that are not historical facts. By their nature, forward-looking statements involve known and unknown risks,uncertaintiesand other factorswhichmaycause ouractualresults,performance orachievements,or other future events, to bematerially different from any futureresults,performanceor achievements expressed or implied by such forward-looking statements.Suchfactorsand risksinclude,among others: the Company/NAH may abandon its drilling and future development plans; changes to the Board may not be approved; the Company may not tie-in wells; the Company /NAH may abandon the 3D Seismic program; there may be cost overruns; there may be changes to macro environment for helium supply and demand; no material adverse events will impact the Company or its partners; there may not be long-term growth; new laws or regulations and/or unforeseen events could adversely affect the Company’s business and results of operations; stock markets have experienced volatility that often has been unrelated to the performance of companies and such volatility may adversely affect the price of the Company's securities regardless of its operating performance; risks generally associated with the exploration for and production of resources; the uncertainty of estimates and projections relating to expenses and the Company’s working capital position; constraint in the availability of services; commodity price and exchange rate fluctuations; adverse weather or break-up conditions; and uncertainties resulting from potentialdelays or changes in plans with respect to exploration or development projects or capital expenditures.

Whenrelyingonforward-lookingstatementsandinformationtomakedecisions,investorsandothersshouldcarefullyconsider the foregoing factorsand risks other uncertainties and potentialevents.The Company hasassumed that the material factors referredtointhepreviousparagraphswillnotcausesuchforward-lookingstatementsandinformationtodiffermateriallyfrom actual results or events. However, the list of these factors is not exhaustive and is subject to change and there can be no assurance that such assumptions will reflect the actual outcome of such items or factors. The reader is cautioned not to place unduerelianceonanyforward-lookinginformation.Suchinformation,althoughconsideredreasonablebymanagementatthe timeofpreparation,mayprovetobeincorrectandactualresultsmaydiffermateriallyfromthoseanticipated.Forward-looking statementscontainedinthisnewsreleaseareexpresslyqualifiedbythiscautionarystatement.Theforward-lookingstatements containedinthisnewsreleasearemadeasofthedateofthisnewsrelease.TheCompanydoesnotintend,andexpressly disclaimsanyintentionorobligationto,updateorreviseanyforward-lookingstatementswhetherasaresultofnew information, future events or otherwise, except as required by law.

NeithertheTSXVentureExchangenoritsRegulationServicesProvider(asthatterm isdefinedinthepoliciesoftheTSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.