Helium Evolution

Helium Evolution Provides Operations Update

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 partner, North American Helium Inc. (“NAH”), has spud the previously announced farm-out well located at 9-35-3-9W3 (“Test Well Area #1”). NAH is responsible for 100% of the drilling costs for Test Well Area #1, while HEVI retains a 20% working interest in that well. Test Well Area #1 is approximately four kilometres south of the NAH producing helium pool at Mankota in Saskatchewan and approximately 11 kilometres northeast of HEVI’s helium discovery at 2-31-2-8W3 (“Joint Well #1”), as announced on November 21, 2023.

HEVI also reports that completion operations for the well located at 9-18-3-8W3 (“Joint Well #2”), in which the Company maintains a 20% working interest, have commenced. Upon conclusion of the completion, testing and evaluation activities, HEVI will provide a further update on the performance of Joint Well #2.

HEVI wishes to thank all shareholders and stakeholders for their continued support and looks forward to providing future updates on its exploration and development activities throughout 2024.

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 an updated corporatepresentation, and are invited to follow the Company on LinkedIn and Twitter 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. In addition to recent mediaarticles, HEVI maintains a profile on the InvestingNewsNetwork platform, where further information, editorial pieces and industry reviews are available.

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 over five 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.

For further information, please contact:

Greg Robb, President & CEO
Kristi Kunec, CFO

Phone: 1-587-330-2459
Email: info@heliumevolution.ca
Web: https://www.heliumevolution.ca/

Cindy Gray, Investor Relations

heviinfo@5qir.com | 1-403-705-5076

StatementRegardingForward-LookingInformation

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 developmentsintheindustrytodiffermateriallyfromtheanticipatedresults,performanceorachievementsexpressedorimplied bysuchforward-lookingstatements.Forwardlookingstatementsarestatementsthatarenothistoricalfactsandaregenerally, butnotalways,identifiedbythewords"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 becoming a leading supplier of sustainably-produced helium, future updates on exploration and development activities, timeline of the completion, testing and evaluation stage for Joint Well #2 and the success thereof, success of the drilling of Test Well Area #1, statements around the helium discovery at Joint Well #1, the Company's beliefs regarding growth of the global helium market and other statements that are not historical facts. By their nature, forward-looking statements involve known and unknown risks,uncertaintiesand other factorswhichmaycause ouractualresults,performance orachievements,or other future events, to bematerially different from any futureresults,performanceor achievements expressed or implied by such forward-looking statements.Suchfactorsand risksinclude,among others:NAHmaybe unsuccessfulindrillingcommerciallyproductive wells; the Company or NAH may choose not to bring Joint Well #1 onto production; the Company or NAH may abandon or defer plans for the completion, testing and evaluation of Joint Well #2; the Company or NAH may abandon or defer the drilling of Test Well Area #1; 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 and the Company’s working capital position; constraint in the availability of services; commodity price and exchange rate fluctuations; adverse weather or break-up conditions; and uncertainties resulting from potentialdelays or changes in plans with respect to exploration or development projects or capital expenditures.

Whenrelyingonforward-lookingstatementsandinformationtomakedecisions,investorsandothersshouldcarefullyconsider the foregoing factorsand risks other uncertainties and potentialevents.The Company hasassumed that the material factors referredtointhepreviousparagraphswillnotcausesuchforward-lookingstatementsandinformationtodiffermateriallyfrom 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 unduerelianceonanyforward-lookinginformation.Suchinformation,althoughconsideredreasonablebymanagementatthe timeofpreparation,mayprovetobeincorrectandactualresultsmaydiffermateriallyfromthoseanticipated.Forward-looking statementscontainedinthisnewsreleaseareexpresslyqualifiedbythiscautionarystatement.Theforward-lookingstatements containedinthisnewsreleasearemadeasofthedateofthisnewsrelease.TheCompanydoesnotintend,andexpressly disclaimsanyintentionorobligationto,updateorreviseanyforward-lookingstatementswhetherasaresultofnew information, future events or otherwise, except as required by law.

NeithertheTSXVentureExchangenoritsRegulationServicesProvider(asthatterm isdefinedinthepoliciesoftheTSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Source

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Helium Evolution (TSXV:HEVI)

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Helium Evolution

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