CALGARY, Alberta, Jan. 06, 2025 (GLOBE NEWSWIRE) -- 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, in partnership with the operator, North American Helium Inc. (“NAH”), the Company has spud the 10-36-3-9W3 well (the “10-36 Well”) along the Mankota helium fairway.
The 10-36 Well is an offset well to HEVI’s recent helium discovery wells at 10-1-4-9W3 (the “10-1 Well”) and 9-35-3-9W3 (the “9-35 Well”), both of which demonstrated significant helium potential. HEVI holds a 20% working interest in the 10-36 Well, the 10-1 Well and the 9-35 Well.
In addition, HEVI is pleased to confirm its participation in the following upcoming wells within the Mankota helium fairway:
5-30-3-8W3 (the “5-30 Well”), anticipated to spud on or around January 20, 2025; and
3-19-3-8W3 (the “3-19 Well”), anticipated to spud on or around February 7, 2025.
The spudding of the 10-36 Well is an important step in the Company’s ongoing efforts to develop its helium assets in the highly prospective Mankota area. With multiple high-potential drilling opportunities underway, HEVI is well positioned for continued growth in helium exploration and production.
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 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.
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 spudding of the 5-30 Well and the 3-19 Well, the Company’s expectations regarding helium production from its land generally, the Company’s expectation regarding helium potential of the 10-1 Well and the 9-35 Well, the potential of drilling opportunities, the prospective potential of the Mankota area in general, the Company becoming a leading supplier of sustainably-produced helium, the Company being well positioned for future helium exploration and production, 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 and/or NAH may abandon or defer plans for the 5-30 Well and/or the 3-19 Well; the Company and/or NAH may choose to defer, accelerate or abandon its exploration, development and production plans; the Company and/or NAH may determine not to bring the 9-35 Well and/or the 10-1 Well onto production;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.
