Helium Evolution announces the filing of the Company’s interim condensed financial statements and associated management’s discussion and analysis for the three and six month periods ended June 30, 2023 (the “Quarterly Report”).

Helium Evolution provides an update on the fourth farmout well that was drilled and fully funded by HEVI’s farmout partner, North American Helium Inc. (“NAH”), at 12-13-10-8W3 (“Test Well #5”).

Helium Evolution today provides an update on the third farmout well that was drilled and fully funded by HEVI’s farmout partner, North American Helium Inc. (“NAH”), at 12-11-05-10W3 (“Test Well #3”).

Helium Evolution is pleased to announce that its farm-in partner, North American Helium Inc. (“NAH”), has confirmed that NAH has spud the third farmout well at 12-11-05-10W3 (“Test Well #3”) on farmout lands within Block 1 at Mankota in Saskatchewan, pursuant to a previously announced farmout arrangement (the “Farmout”) (see news releases dated October 21, 2022, and June 28, 2022). Test Well #3 is the third of seven wells to be drilled by NAH on HEVI lands by March 31, 2024. Test Well #3 is situated approximately 10 kilometers northwest of the NAH helium discovery at Mankota. NAH is responsible for 100% of the drilling costs for Test Well #3, while HEVI retains a 20% working interest in said well, supporting the Company’s continued financial flexibility and capital conservation.