CALGARY, Alberta, Jan. 21, 2025 (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 announce that its farm-in partner, North American Helium Inc. (“NAH”), has successfully completed drilling operations and is proceeding with casing of the joint well at 10-36-3-9W3 (the “10-36 Well”), located on lands near Mankota in Saskatchewan.
The 10-36 Well, a delineation well situated approximately one kilometer east of original 9-35-3-9W3 (“9-35 Well”) discovery well and 1.3 kilometers south of the 10-1-4-9W3 (“10-1 Well”) delineation helium well, will undergo completion, testing and evaluation in the coming weeks. This process will confirm the presence of helium and assess commerciality of the potential helium discovery.
“We are excited to see continued progress in our partnership with NAH. The successful drilling of the 10-36 Well is a significant step forward in advancing our development efforts in the region,” said Greg Robb, President of HEVI. “We are eager to evaluate the results of this well, as it holds the potential to further unlock the helium resources in the area and move us closer to achieving our commercial production goals.”
HEVI also anticipates several key upcoming milestones in its development drilling program:
- 12-29-2-8W3 (“12-29 Well”), spud on January 20, 2025;
- 5-30-3-8W3 (“5-30 Well”), anticipated to spud immediately following the rig release of the 10-36 Well;
- 3-19-3-8W3 (“3-19 Well”), anticipated to spud on or around February 7, 2025; and
- NAH has obtained a license for a well at 5-17-3-8W3 (“5-17 Well”).
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 the Company’s current 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 ‘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 5.6 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.
Statement Regarding Forward-Looking Information
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 developments in the industry to differ materially from the anticipated results, performance or achievements expressed or implied by such forward-looking statements. Forward looking statements are statements that are not historical facts and are generally, but not always, identified by the words “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’s expectations regarding the Company and/or NAH’s development and exploration plans, the Company’s expectations regarding the Mankota helium fairway, the Company and/or NAH’s ability to identify future exploration and drilling targets, increasing shareholder value, the productivity of the 10-36 Well, timing and drilling of the 5-30 Well, the 5-17 Well and the 3-19 Well, the Company’s expectations regarding recoverability of helium, timing of completion, testing and evaluation of the 10-36 Well, growing of helium assets and delivering returns to shareholders, the Company’s ability to preserve capital and other statements that are not historical facts. By their nature, forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause actual results, performance or achievements, or other future events, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Such factors and risks include, among others: the Company may be unsuccessful in drilling commercially productive wells; the Company and/or NAH may choose to defer, accelerate or abandon its exploration and development plans; the Company and/or NAH may choose to not bring wells onto production; the Company and/or NAH may abandon plans to complete, test and/or evaluate the 10-36 Well; the Company and/or NAH may abandon plans to drill the 5-30 Well, the 5-17 Well and/or the 3-19 Well; the Company and/or NAH may abandon the drilling of the 12-29 Well; 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; constraint in the availability of services; commodity price and exchange rate fluctuations; adverse weather or break-up conditions; and uncertainties resulting from potential delays or changes in plans with respect to exploration or development projects or capital expenditures.
When relying on forward-looking statements and information to make decisions, investors and others should carefully consider the foregoing factors and risks, other uncertainties and potential events. The Company has assumed that the material factors referred to in the previous paragraphs will not cause such forward-looking statements and information to differ materially from 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 undue reliance on any forward-looking information. Such information, although considered reasonable by management at the time of preparation, may prove to be incorrect and actual results may differ materially from those anticipated. Forward-looking statements contained in this press release are expressly qualified by this cautionary statement. The forward-looking statements contained in this press release are made as of the date of this press release. The Company does not intend, and expressly disclaims any intention or obligation to, update or revise any forward-looking statements whether as a result of new information, future events or otherwise, except as required by law.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/effb4e34-ab65-4437-b8a2-d6efdfbba6d5
