Mr. Thomas Abraham-James reports

PULSAR HELIUM SECURES DISTRICT-SCALE HELIUM EXPLORATION OPTION ACROSS 488,090 ACRES IN MICHIGAN'S UPPER PENINSULA

Pulsar Helium Inc.'s wholly owned subsidiary, Pulsar Helium (MI) Inc., has entered into an exclusive option to lease non-hydrocarbon gas agreement with Keweenaw Land Association Ltd. (KLA) covering approximately 488,090 gross acres of mineral rights in Michigan's Upper Peninsula.

The agreement, together with the 5,742 gross acres previously acquired through the company's acquisition of Pulsar Michigan (formerly Hybrid Hydrogen Inc.) as announced Jan. 5, 2026, establishes the company's potential footprint in Michigan. These areas in Michigan are now known as the Falcon project.

Highlights:

• Exclusive three-year exploration option commencing March 31, 2026, covering approximately 488,090 gross acres of KLA's mineral rights in Michigan's Upper Peninsula;
• Option covers non-hydrocarbon gases including helium-4, helium-3, carbon dioxide and hydrogen, providing exposure to district-scale geological potential across the KLA land position;
• The agreement contains a staged acreage surrender schedule, allowing Pulsar to refine its exploration focus across the 488,090 acres over the three-year term and thereby reduce its retained acreage, with a final development leasehold of up to 20,000 net acres selectable at option exercise.
• Upon any such exercise of the option, the company and KLA would enter into a definitive non-hydrocarbon gas lease with established commercial terms including proceeds distributed as royalty revenue payable to KLA;
• Defined exploration expenditure commitment over the option period, covering geochemical sampling, geophysical surveys, geological studies and exploratory drilling.

Thomas Abraham-James, chief executive officer of Pulsar, commented: "This agreement with Keweenaw Land Association marks a transformative step for Pulsar and for our Falcon project in Michigan. The scale of this optioned land position, nearly half a million acres of exclusive helium exploration rights, is exceptional and reflects the quality of KLA as a partner and the strength of the geological thesis we have developed for the Upper Peninsula.

"Our work at the Topaz project in Minnesota has demonstrated that primary helium systems can be discovered and confirmed with a disciplined, technically rigorous approach, and we intend to bring exactly that same methodology to Falcon. Michigan's Precambrian basement geology is highly prospective, and the region has not seen any activity for primary helium exploration. We have assembled a district-scale position that gives us the flexibility to evaluate a very large geological system before high grading our focus to the most compelling targets. We are excited about what lies ahead in Michigan."

The Falcon project

The Falcon project consolidates all of Pulsar's Michigan helium interests under a single program. The 5,742 gross acres previously acquired have been incorporated into the broader Falcon project alongside the new KLA option acreage. Together, these interests provide Pulsar with one of the largest potential non-hydrocarbon gas exploration footprints in the Upper Midwest.

Michigan's Upper Peninsula shares key geological characteristics with helium-bearing systems identified elsewhere in the North American craton, including the ancient Precambrian basement rocks that are understood to be a primary source of primordial helium accumulations. Pulsar's operational experience at the Topaz project in Minnesota where the company has achieved a 100-per-cent technical well success rate and confirmed high-grade helium concentrations, including rare helium-3, provides a strong foundation for evaluating the helium potential of Michigan's Upper Peninsula. The geological setting of the Upper Peninsula, characterized by similar ancient basement geology and structural architecture, offers compelling analogues for primary helium accumulation.

Additional information

The option enables Pulsar Michigan to undertake exploration work for non-hydrocarbon gases, including helium-4, helium-3, carbon dioxide and hydrogen, on 488,090 gross acres, with the exclusive option to enter into a formal non-hydrocarbon gas lease agreement at any time during the three-year term. Pulsar Michigan shall undertake exploration work amounting to at least $1-million (U.S.) across the three-year period.

Pulsar Michigan shall pay up to a maximum of approximately $580,000 (U.S.) to maintain the option during the three-year period. The option fee shall be adjusted annually based on the per-acre fee multiplied by the retained acreage respective of the surrender schedule. Unless otherwise agreed with KLA, Pulsar Michigan shall surrender between 25 per cent and 75 per cent of the original contract area before the end of year 1 and an additional 25 per cent by the end of year 2.

At any time during the three-year option period, Pulsar Michigan may exercise the option and confirm its selected final retained lease area of up to 20,000 acres to enter into a formal non-hydrocarbon gas lease agreement with KLA. Any such agreement's terms would include payments per leased acre and royalties.

About Pulsar Helium Inc.

Pulsar Helium is a publicly traded company quoted on the AIM (Alternative Investment Market) of the London Stock Exchange (United Kingdom) and listed on the TSX Venture Exchange with the ticker PLSR (Canada) as well as on the OTCQB with the ticker PSRHF (United States). Pulsar's portfolio consists of its flagship Topaz helium project in Minnesota, the Falcon project in Michigan (both in the United States) and the Tunu helium project in Greenland. Pulsar is the first mover in both locations with primary helium occurrences not associated with the production of hydrocarbons identified at each.

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