First Helium Commences Drilling 4-29 Target

First Helium Commences Drilling 4-29 Target

Follow Up to Successful 1-30 Discovery Well

TSXV: HELI   FRA: 2MC

First Helium Inc. ("First Helium" or the "Company") (TSXV: HELI) (FRA: 2MC), today announced the commencement of drilling its second exploration well, the " 4-29 " target, which is located on First Helium's 100% owned, 79,000 acre Worsley landholdings in Northern Alberta Canada.  Targeting multiple helium gas horizons and potential light oil accumulations, drilling of the 4-29 well is a follow-up to the successful 1-30 discovery well, which has produced at an average rate of approximately 400 barrels per day of light oil since coming on-stream on January 23 rd 2022.

First Helium Inc. (TSXV: HELI) (CNW Group/First Helium Inc.)

"Drilling of the 4-29 target highlights the potential to capture value from multiple commodity streams across our highly prospective 79,000 acre Worsley Trend," said Ed Bereznicki , President & CEO of First Helium. "Any successful outcomes from testing targets like 4-29 and 1-30 should significantly benefit our shareholders as our team executes on the vision to become a leading independent provider of helium gas in North America ," added Mr. Bereznicki.

The 4-29 well is located near the Company's 1-30 light oil discovery well, and approximately 3 kilometers to the southeast of the 15-25 helium well on the core Worsley Property.  A geologic and seismic review of the region suggests that, like the 1-30 and 15-25, the 4-29 target presents as a structural high on the Leduc Reef Complex.

Based on the Company's assessment of economic Leduc wells along the Worsley Trend, approximately 20% have been light oil producers, and the balance have been natural gas producers containing potential economic helium content.  A detailed geological and geophysical evaluation of the Company's lands in the vicinity of the 15-25 well, the 1-30 well, and along the broader Worsley Trend has yielded additional compelling drill targets.  First Helium will incorporate  the results from the drilling and testing of the 4-29 well to strategically pursue new drilling locations across the highly prospective, 90 km wide Worsley Trend.

On January 31, 2022 , the Company granted 100,000 incentive stock options (the "Options") to a consultant of the Company.  The Options are exercisable at $0.35 per common share and expire on May 27 , 2026.  The Options are subject to certain vesting provisions and were granted pursuant to the Company's shareholder-approved stock option plan and are subject to the policies of the TSX Venture Exchange and any applicable regulatory hold periods.

ABOUT First Helium

Led by a core Senior Executive Team with diverse and extensive backgrounds in Oil & Gas Exploration and Operations, Mining, Finance, and Capital Markets, First Helium seeks to be one of the leading independent providers of helium gas in North America .

Building on its successful 15-25 helium discovery well at the Worsley project, the Company has identified numerous follow-up drill locations and acquired an expansive infrastructure system to facilitate future exploration and development of helium across its Worsley land base.  Cash flow from its successful 1-30 oil well at Worsley , beginning in February, 2022, will help support First Helium's ongoing helium exploration and development growth strategy.

First Helium holds over 79,000 acres along the highly prospective Worsley Trend in Northern Alberta , and 276,000 acres in the Southern Alberta Helium Fairway, near existing helium production.  In addition to continuing its ongoing exploration and development drilling at Worsley , the Company has identified a number of high impact helium exploration targets on the prospective Southern Alberta Helium Fairway lands to set up a second core exploration growth area for the Company.

For more information about the Company, please visit www.firsthelium.com .

ON BEHALF OF THE BOARD OF DIRECTORS

Edward J. Bereznicki
President, CEO and Director

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX) accepts responsibility for the adequacy or accuracy of this release.

FORWARD-LOOKING AND CAUTIONARY STATEMENTS

This news release contains certain statements or disclosures relating to First Helium that are based on the expectations of its management as well as assumptions made by and information currently available to First Helium which may constitute forward-looking statements or information ("forward-looking statements") under applicable securities laws. All such statements and disclosures, other than those of historical fact, which address activities, events, outcomes, results, or developments that First Helium anticipates or expects may or will occur in the future (in whole or in part) should be considered forward-looking statements. In some cases, forward-looking statements can be identified by the use of the words "expect", "will" and similar expressions. In particular, but without limiting the foregoing, this news release contains forward-looking statements pertaining to the timing and rate of production of the 1-30 discovery well; the timing of the completion of the construction and commissioning of an oil battery at 1-30; anticipated cash flows; the entering into of off-take marketing arrangements; the use of funds and the Company's strategy. The forward-looking statements contained in this news release reflect several material factors and expectations and assumptions of First Helium including, without limitation: that First Helium will continue to conduct its operations in a manner consistent with past operations; the general continuance of current or, where applicable, assumed industry conditions; availability of debt and/or equity sources to fund First Helium's capital and operating requirements as needed; and certain cost assumptions.

Forward-looking statements are based on estimates and opinions of management at the date the statements are made and are subject to risks, uncertainties and assumptions, including those set out in the Final Prospectus dated June 28, 2021 and filed under the Company's profile on SEDAR at www.sedar.com .  Readers are cautioned that actual results may vary materially from the forward-looking statements made in this news release. Risks that could cause actual events or results to differ materially from those projected in forward-looking statements include, but are not limited to, risks associated with the oil and gas industry; the ability of First Helium to fund the capital and operating expenses necessary to achieve its business objectives; the impact of the COVID-19 pandemic on the business and operations of First Helium; the state of financial markets; increased costs and physical risks relating to climate change; loss of key employees and those risks described in the Final Prospectus dated June 28 , 2021.  First Helium does not undertake any obligation to update forward looking statements, except as required by applicable securities laws. Investors should not place undue reliance on forward-looking statements.

SOURCE First Helium Inc.

Cision View original content to download multimedia: https://www.newswire.ca/en/releases/archive/February2022/15/c7848.html

News Provided by Canada Newswire via QuoteMedia

HELI:CA
The Conversation (0)
First Helium Adds Over 500,000 Barrels of Total Proved + Probable Light Oil Reserves at Worsley

First Helium Adds Over 500,000 Barrels of Total Proved + Probable Light Oil Reserves at Worsley

TSXV: HELI    OTCQB: FHELF    FRA: 2MC

Receives $1.2 Million for Oil Deliveries in June

News Provided by Canada Newswire via QuoteMedia

Keep reading...Show less
First Helium Commences Drilling "14-23" Helium Target

First Helium Commences Drilling "14-23" Helium Target

TSXV: HELI    OTCQB: FHELF    FRA: 2MC

First Helium Inc. ("First Helium" or the "Company") (TSXV: HELI) (OTCQB: FHELF) (FRA: 2MC), today announced the commencement of drilling its third exploration well, the "14-23" target, which is located on First Helium's 100% owned, 79,000 acre Worsley landholdings in Northern Alberta, Canada . Targeting multiple helium-bearing formations, successful drilling of the 14-23 well will potentially add incremental contingent resource 1 volumes to those of the successful 15-25 helium discovery well, which has been independently evaluated.

News Provided by Canada Newswire via QuoteMedia

Keep reading...Show less
First Helium Licenses Third Exploration Well at Worsley

First Helium Licenses Third Exploration Well at Worsley

TSXV: HELI    OTCQB: FHELF    FRA: 2MC

Drilling of the "14-23" Helium Target Well Planned for Mid-July

News Provided by Canada Newswire via QuoteMedia

Keep reading...Show less
First Helium Receives $1.2 Million For April Oil Production Deliveries

First Helium Receives $1.2 Million For April Oil Production Deliveries

TSXV: HELI OTCQB: FHELF FRA: 2MC

Reports Average Daily Oil Production of 520 BBL/D Over Last Five Days

News Provided by Canada Newswire via QuoteMedia

Keep reading...Show less
First Helium to Drill Two Helium Targets at Worsley in Late Q2

First Helium to Drill Two Helium Targets at Worsley in Late Q2

Plans to Capitalize on Attractive Outlook for Helium and Natural Gas Pricing

First Helium Inc. ("First Helium" or the "Company") (TSXV: HELI) (OTCQB: FHELF) (FRA: 2MC), today announced that it plans to drill two prospective helium targets commencing late Q2 at its 100% owned, 79,000 acre Worsley Property in Alberta, Canada . The wells will target potential natural gas accumulations which are expected to contain commercial quantities of helium gas along with natural gas.  Based on associated historic oil & gas drilling and operating data, helium content ranges from 0.5% to 1.9% across the Company's Worsley Property.  The wells will be funded from cash on hand, accumulated from the Company's oil production operations.

News Provided by Canada Newswire via QuoteMedia

Keep reading...Show less
West High Yield  Resources Ltd. Announces Stock Option Grant

West High Yield Resources Ltd. Announces Stock Option Grant

West High Yield (W.H.Y.) Resources Ltd. (TSXV: WHY) (the "Company" or "West High Yield") is pleased to announce that its board of directors approved and authorized the grant and issuance of a total of 1,578,000 stock options (each an "Option" and collectively, the "Options") effective March 25, 2024.

1,160,000 of the Options were issued to the members of the board of directors of the Company; 60,000 of the Options were issued to one (1) officer of the Company; and 403,000 of the Options were issued to four (4) different consultants of the Company. One (1) Option entitles the holder thereof to purchase one (1) common share of the Company (each a "Share" and collectively, the "Shares"). All of the Options vest on their date of grant and have a term of 10 years from their date of grant. The exercise price of the Options was set at CAD$0.23 per Share, which was above the closing trading price of the Shares on the TSX Venture Exchange (the "TSXV") on their date of grant.

News Provided by Newsfile via QuoteMedia

Keep reading...Show less
canada flag, parliament

Mining Leaders Call on Canada to Support Critical Minerals Industry

Canada holds a significant presence in the global resource sector, but a recent KPMG survey shows mining leaders agree more work needs to be done if the country wants to be an industry leader in critical minerals.

While 91 percent of those polled are optimistic about the nation’s potential to become a key critical minerals player, a similarly overwhelming majority — or 98 percent of respondents — believe that much effort is needed to put Canada at the forefront. They'd like to see more investment and government commitment, as well as favorable tax policies.

Keep reading...Show less
Billion Dollar Uranium Market Growing at a Solid Rate Along With Rising Adoption Strategies

Billion Dollar Uranium Market Growing at a Solid Rate Along With Rising Adoption Strategies

FN Media Group News Commentary - The Global Uranium Mining Market has consistently been growing over the past several years and is expected to continue for years to come. Uranium is a silver-white metal chemical element belonging to the lanthanide series of the periodic table. Its chemical symbol is U and its atomic order is 92. Each uranium atom has 92 protons and 92 electrons, 6 of which are valence electrons. Uranium is micro-radioactive, its isotopes are unstable, and uranium-238 and uranium-235 are the most common. A report from Market Reports World said that the global Uranium market size is expected to expand at a CAGR of 3.6% of 3.6% during the forecast period, reaching USD $3.27 Billion by 2027. The report said that the primary factors propelling the growth in the industry is primarily fueled by technological advancements, evolving consumer preferences, and the impact of government policies and regulations, which serve as drivers for expansion. Another report from 360Research Reports said: "The Global Uranium Mining, market is anticipated to rise at a considerable rate during the forecast period, between 2024 and 2031. In 2023, the market is growing at a steady rate and with the rising adoption of strategies by key players, the market is expected to rise over the projected horizon." Active mining companies in the markets this week include Stallion Uranium Corp. (OTCQB: STLNF) (TSX-V: STUD), CanAlaska Uranium Ltd. (OTCQX: CVVUF) (TSX-V: CVV), Denison Mines Corp (NYSE American: DNN), IsoEnergy Ltd. (OTCQX: ISENF) (TSX-V: ISO), Energy Fuels Inc . (NYSE American: UUUU).

News Provided by GlobeNewswire via QuoteMedia

Keep reading...Show less
Appia Exhibiting at PDAC 2024 and Invites Shareholders and Delegates to Visit Us at Booth 2715 in the Investors Exchange, South Building

Appia Exhibiting at PDAC 2024 and Invites Shareholders and Delegates to Visit Us at Booth 2715 in the Investors Exchange, South Building

Appia Rare Earths & Uranium Corp. (CSE: API) (OTCQX: APAAF) (FSE: A0I0) (MUN: A0I0) (BER: A0I0) (the "Company" or "Appia") is pleased to announce that it will be exhibiting at the annual 2024 Prospectors & Development Association of Canada Convention (PDAC), the world's premier mineral exploration & mining event. We invite all our shareholders and conference delegates to visit us at booth #2715 in the Investors Exchange, South Building. The in-person event will be held at the Metro Toronto Convention Centre (MTCC) from Sunday, March 3rd to Wednesday, March 6th, 2024 (Click here for floor map).

Stephen Burega will also be presenting the Appia Corporate Update on March 6th at 10:50 am during the Electric Materials 2 session located in room 801B.

News Provided by Newsfile via QuoteMedia

Keep reading...Show less
Appia Announces Maiden Rare Earth Mineral Resource Estimate of 6.6 Million Tonnes Indicated Grading 2,513 ppm TREO and 46.2 Million Tonnes Inferred grading 2,888 ppm TREO at the PCH Ionic Adsorption Clay Project in Goias, Brazil

Appia Announces Maiden Rare Earth Mineral Resource Estimate of 6.6 Million Tonnes Indicated Grading 2,513 ppm TREO and 46.2 Million Tonnes Inferred grading 2,888 ppm TREO at the PCH Ionic Adsorption Clay Project in Goias, Brazil

Appia Rare Earths & Uranium Corp.(CSE: API) (OTCQX: APAAF) (FWB: A0I0) (MUN: A0I0) (BER: A0I0) (the "Company" or "Appia") is pleased to announce that it has received an independent maiden Mineral Resource Estimate (MRE) for its ionic adsorption clay (IAC) project located in the State of Goiás, Brazil, known as the PCH Project. The MRE was prepared by Yann Camus, P.Eng., of SGS Canada Inc. - Geological Services ("SGS").

Highlights:

News Provided by Newsfile via QuoteMedia

Keep reading...Show less

Latest Press Releases

Related News

×