Helium Evolution Incorporated ("HEVI" or the "Company"), a Canadian-based helium exploration company focused on developing assets in southern Saskatchewan, is pleased to announce the commencement of two significant seismic programs, the execution of a pooling agreement with North American Helium Incorporated (锟絅AH锟�) and to provide an operational update.
Pooling Agreement and 3D Seismic Program 锟� Grasslands/Mankota Area
The Company is pleased to announce that HEVI and NAH have entered into a pooling agreement covering certain lands in the Grasslands/Mankota area. Under the agreement, approximately 40,000 acres of pooled land (the 锟絇ooled Lands锟�) will be shared 51% by NAH and 49% by HEVI. The Pooled Lands include 100%-owned acreage being contributed by each party and undeveloped acreage previously held at an 80% NAH / 20% HEVI working interest, which will be revised to the 51% / 49% split. Developed sections in the Pooled Lands will remain unchanged at 80% NAH and 20% HEVI. NAH is the designated operator of all the operations in the Pooled Lands area.
Concurrently, HEVI and NAH are initiating an approximately 170-square kilometer, NAH operated, 3D seismic program (the 锟�3D Seismic锟�) across the Pooled Lands. The 3D Seismic is expected to significantly enhance subsurface understanding by supplementing existing 2D seismic data, providing seismic coverage over lands with identified helium leads, reducing drilling risk, and expanding the inventory of prospective drill targets.
The 3D Seismic is expected to be completed over the next six weeks, with data processing and interpretation planned for Q2-2026. Subject to results, HEVI and NAH anticipate commencing a drilling program on the Pooled Lands as early as Q3-2026.
The 3D Seismic is expected to cost approximately $4.9 million (gross), or $2.4 million net to HEVI.
Glenbain 2D Seismic Shoot
In December 2025, the Company completed an approximately 60-kilometer 2D seismic program over its 100% lands in the Glenbain area (see inset map). The data is currently undergoing processing and is expected to be interpreted in Q1-2026, with the objective of firming up a drilling location for a future drilling program in 2026 or 2027, subject to capital availability.
Operations Update
The Company is also providing an update on the status of its helium processing facility in the Mankota area, located at 1-2-4-9W3 (the 锟絊oda Lake Facility锟�). During the fourth quarter of 2025, production from the wells tied into the Soda Lake Facility fell below the levels required to support sustained facility operation. A workover program was carried out on the affected wells; however, further optimization will be required to achieve consistent production volumes. As a result, the Soda Lake Facility has been temporarily placed on standby while the Company and NAH evaluate optimization options, advances the 3D Seismic program and development plans, including the integration of future drilling opportunities to support reactivation of the Soda Lake Facility.
Importantly, the Company锟絪 3D Seismic directly offsets the Soda Lake Facility, which is expected to further inform and accelerate the Company锟絪 development strategy. Following data acquisition and interpretation in Q2-2026, drilling targets are expected to be finalized, with drilling scheduled to commence around September 1, 2026. Successful wells, in combination with the previously flow tested well located at 5-30-3-8W3 well (锟�5-30 Well锟�), and potentially the previously flow tested wells located at 2-31-2-8W3 (the 锟�2-31 Well锟�) and 9-18-3-8W3 (the 锟�9-18 Well锟�), are expected to be tied into the Soda Lake Facility in fall 2026. Continued drilling success could allow for near-term reactivation of the Soda Lake Facility and production from the Mankota/Grasslands area utilizing existing infrastructure.
Looking Ahead
HEVI remains confident in its growth prospects. HEVI锟絪 strategy partnership with NAH enables cost and risk sharing on key development activities, allowing the Company锟絪 current cash position to support a broader scope of exploration and development initiatives in 2026.
锟絋he pooling agreement with NAH represents a meaningful step forward in maximizing the value of our Mankota lands,锟� said Jim Baker, Interim President and CEO of HEVI. 锟紹y aligning interests and deploying high-quality 3D seismic, we are enhancing our ability to identify and prioritize high-confidence drilling targets while managing risk and capital efficiency. While the temporary standby of the Soda Lake Facility is disappointing, its proximity to the 3D Seismic program positions us to quickly tie in future successful wells, potentially avoiding the typical 18-month facility construction timeline. HEVI remains focused on the bigger picture锟絙uilding a scalable helium asset base in one of Canada锟絪 most prospective helium-producing regions.锟�
Stay Connected to Helium Evolution
Shareholders and other parties interested in learning more about the Helium Evolution opportunity are encouraged to visit the Company锟絪 website, which includes an updated corporate presentation, 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 锟絛eep-dive锟� research report prepared by a third party whose background includes serving as a research analyst for several bank-owned and independent investment dealers.