Signs Airborne Geophysical Survey Falcon Project
Pulsar Helium Inc.
05 October 2026
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NEWS RELEASE | OCTOBER 5, 2026 | LONDON, UNITED KINGDOM
PULSAR HELIUM SIGNS AIRBORNE GEOPHYSICAL SURVEY CONTRACT FOR FALCON PROJECT, MICHIGAN
Pulsar Helium Inc. (AIM: PLSR, TSXV: PLSR, OTCQB: PSRHF) ("Pulsar" or the "Company"), a primary helium company, is pleased to announce that its wholly owned subsidiary, Pulsar Helium (MI) Inc., has signed a contract with Xcalibur MPH (Canada) Ltd ("Xcalibur") to undertake a high-resolution airborne gravity gradiometry and magnetic survey at the Company's Falcon project in Michigan's Upper Peninsula, USA (the "Falcon Project"). The Falcon Project gives Pulsar a district-scale opportunity to evaluate an extensive and underexplored geological system, comprising an exclusive exploration option (the "Option") over approximately 488,090 gross acres of mineral rights.
The opportunity is to test whether the ancient Precambrian basement geology and structural architecture that underpin Pulsar's exploration model at the Company's Topaz helium project in Minnesota (the "Topaz Project") extend into Michigan. By imaging variations in subsurface density, lithology and structure across an initial priority area, the survey is intended to identify and rank the most compelling features within this vast land position, allowing Pulsar to focus follow-up exploration and future drilling where the geological evidence is strongest. This represents an important first step in converting the Falcon Project's scale and geological potential into a defined pipeline of primary helium targets. The survey is expected to commence in mid-Q4 2026.
Highlights:
- Pulsar has signed a contract with Xcalibur for a FALCON Airborne Gravity Gradiometer and magnetic survey (the "FALCON System Survey") comprising approximately 14,727 line kilometres over an initial priority area within the Falcon Project, with commencement expected in mid-Q4 2026.
- The program will use 500-metre-spaced survey lines and 5,000-metre-spaced tie lines to map density contrasts, lithological boundaries and structural architecture, supporting the identification and ranking of future helium exploration targets across Pulsar's district-scale land position.
- A newly released, high-resolution airborne magnetic and radiometric dataset funded by the U.S. Geological Survey's (the "USGS") Earth Mapping Resources Initiative ("Earth MRI") covers a large portion of the Falcon Project at no acquisition cost to Pulsar and will be integrated with the new survey data as the Company applies its Topaz exploration methodology to comparable geology in Michigan.
Thomas Abraham-James, CEO of Pulsar, commented:
"Signing this airborne survey contract marks an important step in advancing Falcon from district-scale land assembly into systematic target generation. The planned FALCON gravity gradiometry and magnetic program will provide a new, high-resolution view of the subsurface across our initial priority area, while the newly released Earth MRI magnetic and radiometric survey gives us substantial complementary regional data at no acquisition cost to Pulsar. Together, these datasets will help us efficiently rank targets and direct the next phase of work as we apply the disciplined, data-led approach developed at Topaz in Minnesota to comparable geology in Michigan."
Contracted survey
Xcalibur will deploy its purpose-built FALCON System Survey together with high-precision magnetic instrumentation, which was previously deployed successfully on the Topaz Project. The FALCON System Survey is designed to acquire high-resolution airborne gravity-gradient data for structural and lithological mapping, while magnetic acquisition will provide a complementary dataset for interpreting basement geology and major structural features.
The planned FALCON Sytem Survey comprises approximately 14,727 line kilometres. Survey lines will be spaced 500 metres apart on a 315-degree northwest-southeast orientation, with tie lines spaced 5,000 metres apart on a 045-degree northeast-southwest orientation. Flying is planned at a nominal terrain clearance of approximately 165 metres, subject to reconnaissance and final on-site safety assessment, and is expected to commence in mid-Q4 2026, subject to operational conditions.
The aircraft will also carry laser-scanning, radar-altimeter and GPS navigation equipment to support terrain correction, accurate positioning and survey quality control. Survey data will be reviewed progressively during acquisition, with preliminary products expected following completion of flying and final processed products to follow after detailed quality assurance and processing.
The program is intended to improve Pulsar's understanding of the location and extent of contrasting rock units and the structural framework of the priority area. These results will be integrated with geological mapping, geochemical work and other exploration datasets to support target selection and the efficient allocation of follow-up expenditure.
Earth MRI dataset
On September 24, 2026, the USGS published digital flight-line data from a high-resolution airborne magnetic and radiometric survey covering much of Michigan's Upper Peninsula and neighbouring northern Wisconsin. The program was funded by Earth MRI, designed by the USGS in collaboration with the Michigan Geological Survey, and acquired during 2025.
The regional program acquired approximately 216,000 line kilometres of magnetic and radiometric data across approximately 38,400 square kilometres. Aircraft flew at a nominal terrain clearance of 100 metres, with north-south flight-line spacing of 150 metres in the western block and 400 metres in the eastern block; magnetic measurements were collected using stinger-mounted magnetometers and radiometric measurements using fully calibrated gamma-ray spectrometers.
The publicly available dataset covers a large portion of the Falcon Project and is available to Pulsar at no acquisition cost. It provides a detailed regional framework that can be integrated with the higher-resolution gravity-gradient and magnetic data to be acquired by Xcalibur, helping the Company interpret lithological variation, geological contacts and structures across the wider project area.
The Falcon Project
The Falcon Project consolidates Pulsar's Michigan helium interests, including the Option covering approximately 488,090 gross acres of mineral rights in Michigan's Upper Peninsula. The Option covers non-hydrocarbon gases including helium-4, helium-3, carbon dioxide and hydrogen, and provides Pulsar with the flexibility to evaluate a district-scale geological system before progressively high-grading the most prospective areas.
Pulsar's strategy at the Falcon Project is to apply the disciplined technical workflow developed at its flagship Topaz Project in Minnesota to a large land position with comparable ancient Precambrian basement geology and structural architecture. The integrated interpretation of gravity, magnetic, radiometric, geological and geochemical datasets is expected to support the identification and ranking of prospective structures and inform the location of subsequent exploration activities.
On behalf of Pulsar Helium Inc.
"Thomas Abraham-James"
CEO and Director
Further Information:
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+44 (0) 2033 55 9889 (United Kingdom)
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About Pulsar Helium Inc.
Pulsar Helium Inc. is a publicly traded company quoted on the AIM market of the London Stock Exchange (United Kingdom) and listed on the TSX Venture Exchange with the ticker PLSR (Canada), as well as on the OTCQB with the ticker PSRHF (United States of America). Pulsar's portfolio consists of its flagship Topaz helium project in Minnesota, the Falcon project in Michigan (both in the USA), and the Tunu helium project in Greenland. Pulsar is the first mover in both locations with primary helium occurrences not associated with the production of hydrocarbons identified at each.
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.
Forward-Looking Statements
This news release contains forward-looking information within the meaning of Canadian securities legislation (collectively, "forward-looking statements") that relate to the Company's current expectations and views of future events. Any statements that express, or involve discussions as to, expectations, beliefs, plans, objectives, assumptions or future events or performance (often, but not always, through the use of words or phrases such as "will likely result", "are expected to", "expects", "will continue", "is anticipated", "anticipates", "believes", "estimated", "intends", "plans", "forecast", "projection", "strategy", "objective" and "outlook") are not historical facts and may be forward-looking statements. Forward-looking statements herein include, but are not limited to, statements relating to: the expected commencement of the airborne survey in mid-Q4 2026; the anticipated scope and completion of the FALCON System Survey; the ability of the survey and the Earth MRI dataset to identify and rank prospective helium exploration targets within the Falcon Project; the application of exploration methodologies developed at the Topaz Project to the Falcon Project; and the potential for the Falcon Project to host commercially significant primary helium and other non-hydrocarbon gas accumulations. Forward-looking statements may involve estimates and are based upon assumptions made by management of the Company, including, but not limited to, the Company's capital cost estimates, management's expectations regarding the availability of capital to fund the Company's future capital and operating requirements and the ability to obtain all requisite regulatory approvals.
No reserves have been assigned in connection with the Company's property interests to date, given their early stage of development. The future value of the Company is therefore dependent on the success or otherwise of its activities, which are principally directed toward the future exploration, appraisal and development of its assets, and potential acquisition of property interests in the future. Un-risked Contingent and Prospective Helium Volumes have been defined at the Topaz Project. However, estimating helium volumes is subject to significant uncertainties associated with technical data and the interpretation of that data, future commodity prices, and development and operating costs. There can be no guarantee that the Company will successfully convert its helium volume to reserves and produce that estimated volume. Estimates may alter significantly or become more uncertain when new information becomes available due to for example, additional drilling or production tests over the life of field. As estimates change, development and production plans may also vary. Downward revision of helium volume estimates may adversely affect the Company's operational or financial performance.
Helium volume estimates are expressions of judgement based on knowledge, experience and industry practice. These estimates are imprecise and depend to some extent on interpretations, which may ultimately prove to be inaccurate and require adjustment or, even if valid when originally calculated, may alter significantly when new information or techniques become available. As further information becomes available through additional drilling and analysis the estimates are likely to change. Any adjustments to volume could affect the Company's exploration and development plans which may, in turn, affect the Company's performance. The process of estimating helium resources is complex and requires significant decisions and assumptions to be made in evaluating the reliability of available geological, geophysical, engineering, and economic date for each property. Different engineers may make different estimates of resources, cash flows, or other variables based on the same available data.
Forward-looking statements are subject to a number of risks and uncertainties, many of which are beyond the Company's control, which could cause actual results and events to differ materially from those that are disclosed in or implied by such forward-looking statements. Such risks and uncertainties include, but are not limited to, that Pulsar may be unsuccessful in drilling commercially productive wells; the uncertainty of resource estimation; operational risks in conducting exploration, including that drill costs may be higher than estimates; commodity prices; health, safety and environmental factors; and other factors set forth above as well as risk factors included in the Company's Annual Information Form dated February 3, 2026, for the year ended September 30, 2025, found under the Company's profile on www.sedarplus.ca.
Forward-looking statements contained in this news release are as of the date of this news release, and the Company undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as may be required by law. New factors emerge from time to time, and it is not possible for the Company to predict all of them or assess the impact of each such factor or the extent to which any factor, or combination of factors, may cause results to differ materially from those contained in any forward-looking statement. No assurance can be given that the forward-looking statements herein will prove to be correct and, accordingly, investors should not place undue reliance on forward-looking statements. Any forward-looking statements contained in this news release are expressly qualified in their entirety by this cautionary statement.
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