Quantum Helium Limited is pleased to provide a year-end operational update following a highly active period across its Colorado portfolio.
Last week marked two major milestones for the Company: completion of the Sagebrush 3D seismic acquisition and finalisation of the Coyote Wash Sproule ERCE independent resource report. The Company also finalised the Irrevocable Letter of Credit required for the extended flow test at Sagebrush-1. Together, these achievements have significantly advanced Quantum's regulatory, technical and development position heading into 2026.
Operational Highlights
• Sagebrush 3D seismic acquisition completed, with the full dataset now preparing to move into processing this week.
• Sproule ERCE's independent verification report on Coyote Wash finalised, confirming Quantum's second certified helium resource and taking total independently assessed 2U gross helium across Sagebrush and Coyote Wash to more than 1 BCF.
• Irrevocable Letter of Credit finalised, with all required funds transferred. The official letter is expected to be issued shortly and will be lodged immediately with the Tribe and the Bureau of Indian Affairs (BIA) alongside the Tribal Council authorisation.
• Regulatory progress continues with the Company expecting final sign-off for the extended flow test at Sagebrush-1 once the BIA completes its review cycle.
• Acquired an additional 7.5% Working Interest at Sagebrush taking the Company's holding to 90%, consolidating Quantum's position as it moves into a pivotal period of testing and development.
Looking Ahead to 2026
With two verified helium prospective resources, a basin-wide 3D seismic platform, and the final administrative requirements for testing now nearing completion, Quantum is well positioned for a catalyst-rich start to 2026.
Key early-2026 priorities include:
• Receipt of fully processed and interpreted 3D seismic results
• Commencement of the extended flow test at Sagebrush-1 upon final BIA approval
• Integration of the new seismic into 2026 drilling and development planning
• Advancement of commercial discussions and surface development options
Quantum Chief Executive Officer, Howard McLaughlin, commented: "This month has been exceptionally productive for Quantum, with a number of major milestones all achieved within days of each other. Finishing the Sagebrush 3D seismic, finalising the Sproule ERCE report on Coyote Wash, and completing the Irrevocable Letter of Credit collectively move us a significant step closer to flow testing Sagebrush-1 and progressing the wider development plan.
The Letter of Credit has now been finalised, with all required funds transferred, and we expect the formal document to be issued shortly. Once received, it will be delivered immediately to the Tribe and the BIA with the accompanying authorisations. Subject to their availability, we anticipate sign-off shortly thereafter.
The seismic dataset is now ready to be transferred for processing, and this will give us valuable insights into the structure around Sagebrush-1 and potential new drilling targets for 2026.
As we close out the year, I would like to thank our shareholders for their continued support. We enter 2026 with strong momentum, a clear operational pathway, and a portfolio that continues to strengthen. I wish all our investors and stakeholders a safe and enjoyable Christmas and holiday season."