Helium Evolution Provides Grasslands Project Update and Board of Directors Update

CALGARY, Alberta, Oct. 08, 2026 (GLOBE NEWSWIRE) -- Helium Evolution Incorporated (TSXV:HEVI and OTCQB:HEEVF) ("HEVI" or the "Company"), a Canadian-based helium exploration company focused on developing assets in southern Saskatchewan, is pleased to provide an update on the advancement of its Grasslands project in southern Saskatchewan, operated in partnership with North American Helium Inc. (“NAH”).

HEVI and NAH have each completed their 170 km² 3D seismic interpretations across the Grasslands project, agreed on an initial set of bottom hole drilling locations, and NAH is now advancing the surface location permitting process for up to 10 wells. Earliest anticipated drilling commencement is January 2027, with the total number of wells to be drilled subject to final drilling licenses and winter drilling rig availability. HEVI will provide additional details regarding the timing and scope of the drilling program once the permitting process is completed.  

“Alignment with NAH on the Grassland 3D seismic interpretation and 10 initial drilling targets is a meaningful milestone for HEVI. We look forward to supporting NAH where needed as they advance the drilling location permitting process at Grasslands,” said Malcolm Adams, President and CEO of HEVI.

Board of Directors Update
The Company also announces changes to its Board of Directors (the “Board”), effective immediately. Philip Hughes and Michael Graham have resigned as directors, and Anton du Plessis has been appointed to the Board.

Mr. du Plessis is a senior corporate finance professional with approximately 30 years of experience, including as the CEO and board member of a public lithium company. Prior thereto, Mr. du Plessis held senior positions at several international investment banks.

“We sincerely thank Philip and Michael for their significant contributions to HEVI,” said James Baker, Chair of the Board. “Philip provided strong leadership as Chair of the Audit Committee and brought valuable financial and governance expertise to the Board. Michael’s engineering and oil and gas experience provided important technical and industry insight as HEVI advanced its helium strategy. We are pleased to welcome Anton to the Board, whose extensive corporate finance, capital markets and public company experience will further strengthen our Board as HEVI moves into its next phase of growth.”

Stay Connected
Shareholders and other parties interested in learning more about the HEVI 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.

About Helium Evolution Incorporated
HEVI is a Canadian-based helium exploration company 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:

Malcolm Adams, 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 becoming a leading supplier of sustainably-produced helium; capital availability; benefit of director to the Board; growth of the Company; the Company’s plans to apply for surface locations and drilling licenses; the timing, scope and commencement of future drilling activities; the advancement of the Grasslands project; and the potential for the identified drilling locations to support future helium exploration and development 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: assumptions regarding permitting, regulatory and drilling approvals, not being able to obtain surface or drilling licenses, the availability of capital and services, cooperation with project partners and the timing and results of future exploration activities; contributions not being as expected; exploration and development risks; operational and technical challenges; financing risks; environmental and permitting risks; and general economic, market, and industry conditions.

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.