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Helium Evolution Provides Significant Update on Production Facilities, Preliminary Results of 5-30 Well, and 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 excited to announce plans for production facilities in the Mankota area, with anticipated production slated for the fourth quarter of 2025. Additionally, the Company is providing preliminary test results from its 5-30-3-8W3 helium discovery well (the “5-30 Well”), located along the Mankota helium fairway. HEVI holds a 20% working interest in the 5-30 Well, in partnership with the operator, North American Helium Inc. (“NAH”).
Looking Ahead to Production
HEVI continues to work closely with NAH to plan the next phase of development in the Mankota area. With four helium discovery wells in close proximity to one another, NAH is actively pursuing the licensing and installation of processing facilities in the area. The size and specifications of the facility will be determined following the final analysis of the 5-30 Well results. It is anticipated that the facilities will be operational in the fourth quarter of 2025, contingent on surface, licensing and installation considerations. HEVI fully supports this initiative, as the establishment of processing facilities is a crucial step in HEVI’s strategy to transition toward commercial helium production.
“We are very excited about moving to production in the Mankota area,” said Greg Robb, CEO of HEVI. “The results thus far are promising, and we are optimistic about our ability to achieve commercial production in the near future. This is a major milestone for our development in the Mankota region. Our ongoing partnership with NAH will be critical as we move towards the installation of processing facilities and scaling up production.”
5-30 Well Preliminary Test Results
Completion, perforation and initial production testing of the 5-30 Well are ongoing. After an extended 5-day flow testing period, the 5-30 Well was producing approximately 9.7 million standard cubic feet per day (“MMscf/d”) at 10,700 kiloPascal (“kPa”) flowing tubing pressure. The preliminary test results also confirmed a helium content of 0.76%, significantly higher than the commercially viable threshold of 0.3%. Furthermore, the 5-30 Well produced negligible water, signaling strong potential for efficient helium recovery and processing.
Following the extended production flow period, the 5-30 Well will be shut in for 14 days to gather reservoir pressure data. This data will be analyzed to further evaluate the resource potential and optimize future development.
Flow Test Results from Select HEVI Wells:
| Well | Bottom Hole Pressure (kPa) | Bottom Hole Temperature (°C) | Helium Content | Rate (MMscf/d) | Tubing Pressure (kPa) | Water |
| 5-30 Well (Preliminary)1 | 23,959 | 82 | 0.76% | 9.7 | 10,700 | Negligible |
| 10-36 Well (Preliminary)2 | 23,600 | 78 | 0.81% | 11.5 | 13,100 | Negligible |
| 10-1 Well3 | 24,069 | 78 | 0.75% | 9.5 | 10,800 | Negligible |
| 9-35 Well4 | 23,928 | 81 | 0.64% | 7.0 | 9,000 | Negligible |
| 2-31 Well5 | 24,189 | 81 | 0.95% | 4.0 | 5,500 | Negligible |
1 The 5-30 Well preliminary results are subject to further analysis.
2 Well located at 10-36-3-9W3 (the “10-36 Well”); preliminary results are subject to further analysis.
3 Well located at 10-1-4-9W3 (the “10-1 Well”)
4 Well located at 9-35-3-9W3 (the “9-35 Well”)
5 Well located at 2-31-2-8W3 (the “2-31 Well”)
Operations Update
HEVI provides the following operations update on its other wells:
- 3-19-3-8W3 well (the “3-19 Well”): Drilling has ceased prior to reaching the targeted zone due to operational challenges and the early onset of spring weather in the Mankota area. As a result, NAH has made the decision to abandon the 3-19 Well. The target will be re-evaluated as part of the fall drilling program.
- 12-29-2-8W3 (the “12-29 Well”): Completion operations have been suspended until the latter half of 2025 due to environmental restrictions in the area. Operations on the 12-29 Well had to cease by February 22, 2025, in compliance with these regulations.
HEVI and NAH intend to resume drilling in the Mankota area after September 1, 2025, given the environmental and surface restrictions that will be in place until that time.
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 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 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/ |
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 future production from the 2-31 Well, the 9-35 Well, the 5-30 Well, the 10-36 Well and the 10-1 Well, abandoning the 3-19 Well, the Company’s expectations regarding scalable helium production from its land generally, the Company and/or NAH’s plans with respect to shutting in the 5-30 Well for a 14-day period and the interpretation of results, reevaluation of the target for the 3-19 Well, resumption of drilling after September 1, 2025, installation of production facilities including the size, specifications and timing, the Company’s plans to do further analysis on the 10-36 Well, the Company and/or NAH’s plans for the 12-29 Well including timing, the Company's intention to provide further updates regarding significant updates and developments, the Company becoming a leading supplier of sustainably-produced helium, timeline of future updates, 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, uncertainties and other factors which may cause our 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: NAH may be unsuccessful in drilling commercially productive wells; the Company may not provide future updates; the Company and/or NAH may abandon or defer plans for continuing the completion, testing and evaluation of the 10-36 Well and the 5-30 Well; the Company and/or NAH may choose to defer, accelerate or abandon its exploration and development plans; the Company and/or NAH may determine not to bring the 9-35 Well, the 10-1 Well, the 10-36 Well, the 5-30 Well or the 2-31 Well onto production; the Company and/or NAH may not unsuspend the 12-29 Well; the Company and/or NAH may change intentions with regards to the 3-19 Well; the Company and/or NAH may choose to not reevaluate the 3-19 Well target in the fall drilling program; the Company and/or NAH may abandon, defer or accelerate plans and decisions regarding production facilities; 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 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 news release are expressly qualified by this cautionary statement. The forward-looking statements contained in this news release are made as of the date of this news 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.
Innovation Mining: Transforming Gold Mining with RZOLV — Safe, Cost-effective, High-performance alternative to Toxic Cyanide
Innovation Mining is disrupting the market and establishing itself as a leader in cleantech gold extraction through its RZOLV, a proprietary, non-toxic hydrometallurgical formula that's sustainable, safe, and water-based alternative to cyanide. RZOLV addresses a long-standing industry challenge, enabling mining operations to transition toward sustainable and high-performance gold extraction without compromising profitability.
RZOLV offers similar cost and performance metrics as cyanide, but with a non-toxic, reusable and sustainable profile.
RZOLV allows efficient gold extraction that unlocks untapped resources. Innovation Mining is currently focused on validating its technology through a 100-tonne industrial test, after which full commercialization efforts will begin.
Company Highlights
- Innovation Mining has developed RZOLV, a proprietary, non-toxic hydrometallurgical formula for gold extraction. The formula offers a sustainable, safe, and water-based alternative to cyanide.
- RZOLV enables a seamless transition from cyanide without requiring additional infrastructure investments, making adoption cost-competitive and operationally efficient.
- The RZOLV formula has been tested on over 250 kilograms of ore, demonstrating high performance comparable to cyanide while eliminating toxic waste risks.
- Scalability and reliability: A 100-tonne leach test is planned within the next several months to further validate scalability and reinforce its economic and operational advantages for miners.
- Regulatory and social benefits: By removing cyanide from the process, RZOLV will simplify regulatory approvals, reduce compliance risks, and improve social licenses to operate, making it a future-proof solution for responsible mining.
- Enhanced ESG profile: Mining companies adopting RZOLV can significantly improve their environmental, social, and governance (ESG) standing, appealing to investors and stakeholders focused on sustainability and responsible resource development.
- Versatile gold recovery: RZOLV enables efficient gold extraction not only from traditional ores but also from low-grade ore, concentrates, and tailings, unlocking untapped resources.
This AInnovation Mining profile is part of a paid investor education campaign.*
Click here to connect with Innovation Mining to receive an Investor Presentation
Innovation Mining
Investor Insight
Amid increasing regulatory restrictions on cyanide and a growing demand for sustainable mining practices, Innovation Mining is a compelling investment opportunity positioned to disrupt the market and establish itself as a leader in cleantech gold extraction.
Overview
Innovation Mining is a clean-tech company with an innovative technology that promises to transform the gold mining industry. The company has developed RZOLV, a breakthrough water-based hydrometallurgical formula that effectively recovers gold from ores, concentrates and tailings without the environmental and regulatory burdens associated with cyanide.
While cyanide has been the industry standard for over a century, its toxic nature has led to bans in several countries and costly permitting challenges for mining companies. RZOLV offers similar cost and performance metrics as cyanide, but with a non-toxic, reusable and sustainable profile. The company is currently focused on validating its technology through a 100-tonne industrial test, after which full commercialization efforts will begin.
Company Highlights
- Innovation Mining has developed RZOLV, a proprietary, non-toxic hydrometallurgical formula for gold extraction. The formula offers a sustainable, safe, and water-based alternative to cyanide.
- RZOLV enables a seamless transition from cyanide without requiring additional infrastructure investments, making adoption cost-competitive and operationally efficient.
- The RZOLV formula has been tested on over 250 kilograms of ore, demonstrating high performance comparable to cyanide while eliminating toxic waste risks.
- Scalability and reliability: A 100-tonne leach test is planned within the next several months to further validate scalability and reinforce its economic and operational advantages for miners.
- Regulatory and social benefits: By removing cyanide from the process, RZOLV will simplify regulatory approvals, reduce compliance risks, and improve social licenses to operate, making it a future-proof solution for responsible mining.
- Enhanced ESG profile: Mining companies adopting RZOLV can significantly improve their environmental, social, and governance (ESG) standing, appealing to investors and stakeholders focused on sustainability and responsible resource development.
- Versatile gold recovery: RZOLV enables efficient gold extraction not only from traditional ores but also from low-grade ore, concentrates, and tailings, unlocking untapped resources.
Technology Value Propositions
Innovation Mining is a clean-tech company dedicated to the research, development and commercialization of RZOLV, a revolutionary, water-based hydrometallurgical formula for gold recovery.
As a safe, non-toxic and cost-competitive alternative to cyanide, RZOLV addresses a long-standing industry challenge, enabling mining operations to transition toward sustainable and high-performance gold extraction without compromising profitability.
RZOLV has been extensively tested in laboratory settings, demonstrating high gold recovery rates, fast leach kinetics, and comparable performance to traditional cyanide processes. A major advantage of the formula is its water-based composition, which ensures scalability without the need for complex infrastructure modifications. Innovation Mining has achieved a significant breakthrough by modifying the RZOLV formula, ensuring its cost-competitiveness with cyanide. Operating cost savings include: insurance, cyanide destruction circuits, monitoring and site remediation. This advancement applies to both whole-ore vat leaching and heap leaching processes, enhancing the economic viability of eco-friendly gold extraction.
In the near term, Innovation Mining plans to conduct a 100-tonne leach test to validate its industrial-scale applicability. With increasing regulatory restrictions on cyanide and a growing demand for sustainable mining practices, Innovation Mining is positioned to disrupt the market and establish the company as a leader in clean-tech gold extraction.
Competitive Advantages
Innovation Mining's RZOLV formula presents several distinct advantages over traditional cyanide-based gold extraction methods:
- Non-toxic and Eco-friendly: Water-based chemistry with no hazardous byproducts, significantly reducing environmental impact and permitting challenges.
- Effective & High-Performance: Delivers high-performance gold recovery rates and fast leach kinetics, making it a reliable alternative to cyanide.
- Stability: RZOLV is a chemically stable solution, ensuring consistent performance and reliability over time.
- Seamless Integration: Requires no major infrastructure overhauls, enabling easy adoption for miners
- Scalability: Proven in lab tests and undergoing industrial-scale validation to demonstrate commercial viability.
- Cost-effective: Comparable costs to cyanide while lowering permitting, remediation, and operational expenses.
- Regulatory Benefits: Allows for easier permitting due to non-toxic nature, reducing compliance risks.
- Versatile Gold Recovery: Effectively extracts gold from low-grade ore, concentrates, and tailings, unlocking additional value.
- Commercialization: Industry interest and strategic partnerships under development to accelerate commercialization.
- Strong Executive Leadership: Backed by a highly experienced team with a track record of success in mining, metallurgy, and business development.
Management Team
Duane A. Nelson – Director, CEO
Founder of Innovation Mining, Duane Nelson brings extensive experience in clean-tech innovation and mining operations. He was a co-founder and past director of EnviroMetal Technologies and has a proven track record in leading successful ventures in the mining sector.
Chester F. Millar – Chairman of the Board
An inductee of the Canadian and Mexican Mining Hall of Fame, Chester Millar has a distinguished career in building junior mining companies. He discovered and founded the Afton Mine and has served as chairman for both Glamis Gold and Eldorado Gold.
Joseph Ovsenek – Director
Joseph Ovsenek was president and CEO of Pretium Resources, where he led the advancement of the high-grade gold Brucejack Mine which has been operating profitably since commercial start-up in 2017. Ovsenek began his nine-year tenure at Pretium in 2011 as chief development officer and led the over $2 billion financing.
Grant Bond – Chief Financial Officer
Grant Bond is a chartered professional accountant with more than 12 years of financial management experience in the mining industry. His expertise includes financial reporting, risk management and SOX compliance.
Chris Babcock – Vice-president Operations
With extensive experience in building profitable gold mines across North America, Chris Babcock has held key positions, including president and CEO of Castle Gold, and manager of Mexico for Alamos Gold during the early development of the Mulatos project.
Janet L. Sheriff – Director
Janet Sheriff brings 25 years of senior management experience in the mining industry. She previously served as chief executive officer of Golden Predator Mining and president of enCore Energy.
Hanif Jafari – CTO
Hanif Jafari holds a Master of Engineering in Mining and Mineral Processing from the University of British Columbia. He is proficient in construction, value chain analysis, and strategic growth planning across diverse domestic and international markets. Jafari has over eight years in hydrometallurgical research.
Bruce Bried – Director
Bruce Bried is a mining engineer with over 28 years’ experience in the engineering, development, operation, reclamation and management of producing mines, including Dickenson Mines (now Goldcorp) and the KamKotia Arthur White Mine in Red Lake.
Darryl J. Yea – Director
Darryl Yea has over 35 years of diverse experience in operations, investment banking, corporate finance and venture capital with public and private companies in several industries. He was president and chief executive officer of C.M. Oliver (TSX:OLV), a national financial services organization.
Michael Cowin – Director
Michael Cowin has 20 years of investment banking and investment experience. Since 2007, he has been a director of Northcape Capital, a boutique investment fund based in Australia which manages over A$8 billion.
William R. Sheriff – Advisory Board
William Sheriff is an entrepreneur and visionary with over 40 years’ experience in the minerals industry and the securities industry and has been responsible for significant capital raises along with corporate development. He is currently the executive chairman of enCore Energy, USA’s largest uranium producer.
Keith Peck – Advisory Board
Keith Peck is a consultant with Holnik Capital. He was previously chairman and chief executive officer of Lincoln Peck Financial. Peck has over 35 years of investment banking experience, including as vice-president and director of RBC Dominion Securities and Haywood Securities, and vice-chairman of Yorkton Securities.
