Pulsar Helium Inc. - Projects

The Topaz Project, Minnesota, USA (100% owned)

Topaz is a significant helium discovery in a new helium province where Pulsar holds a first-mover advantage. Flow testing in two wells revealed Jetstream #1 averaging 8.1% helium and Jetstream #2 averaging 5.6%. These results solidify Topaz’s status as a top-tier primary helium discovery, with further flow testing of new wells planned for 2026. Helium concentrations exceeding 0.3% are generally considered by industry to have potential for economically viability. The gas flowed naturally to the surface under pressure and wasn’t associated with water, which is advantageous as water can be environmentally and processing-wise problematic. The rapid pressure rebound indicates a substantial gas accumulation. A development plan is now underway to assess the full production potential.

About the project

Topaz is located in Minnesota, Midwest USA and is a new helium discovery in a new helium province where Pulsar is the first mover. On flow testing in two wells, Jetstream #1 had an average of 8.1% helium, and Jetstream #2 an average of 5.6% helium, reinforcing Topaz’s status as a top-tier primary helium discovery.

Drilled in 2011, a previous explorer intersected helium-rich gas by chance while exploring for nickel.

Laboratory analysis of gas from Jetstream #1 also confirmed the presence of highly elevated concentrations of helium-3. A gas that is incredibly rare on Earth and has applications in quantum computing, fusion and more.

Location

Topaz is located in the state of Minnesota, 100km north of the regional centre of Duluth. The project has excellent infrastructure, road access, local services, grid power, and an available highly skilled workforce. The area understands resource development with 150 years of resource extraction and is within 8 miles of one of North America’s largest iron ore mines. The State of Minnesota is currently in a rule-making process to enable helium and hydrogen production.

The coordinates are:

Latitude 47° 38' 05'' N

Longitude 91° 42' 03'' W

Mineral Rights

Topaz is located on private mineral rights for which Pulsar has exclusive leases. Further application has been submitted with the State for additional areas of interest to provide Pulsar with district scale control.

Work Program

Drilling activities are ongoing, building on the success of the Jetstream #1 and #2 appraisal wells. The objective being to delineate a gas discovery of sufficient size to realise initial production. Other field activities consist of seismic surveys and baseline studies. All technical data is being reviewed and assessed by Chart Industries Inc., a leader in industrial gas equipment, who are conducting production studies and optimal production plant design.

Geology

The geology of the discovery area includes some of the oldest rocks in North America, suggesting excellent helium source rock. The stable tectonic conditions prevailing over the last billion years in the Topaz area may have allowed significant helium volumes to accumulate.

High Concentration

Exceptional helium grade with potential low OPEX.

Short Roadmap

Short path to production.

High Value

Three products with the potential to be monetised, helium, CO2 and helium-3.

Excellent Location

Good accessibility with skilled workforce and existing infrastructure.

First Mover

Pulsar has a significant advantage in a new helium location.

Supportive Legislation

New legislation for helium project development to benefit the Topaz project.

Topaz