The information contained within this announcement is deemed by the Company to constitute inside information as stipulated under the Market Abuse Regulation (EU) No. 596/2014 as amended by The Market Abuse (Amendment) (EU Exit) Regulations 2019.
LONDON, GB / ACCESS Newswire / March 31, 2025 / Helium One Global (AIM:HE1), the primary helium explorer in Tanzania with a 50% working interest in the Galactica-Pegasus helium development project in Colorado, USA is pleased to provide the following update on its southern Rukwa Helium project in Tanzania.
Highlights
The Company has formally accepted the offer of a Mining Licence ("ML") for the southern Rukwa Helium Project as issued by the Mining Commission ("MC") in Tanzania
The area granted by the Mineral Right is the entire 480km2 that was applied for in September 2024, and covers the southern Rukwa Helium province in the Momba, Sumbawanga Urban Districts in the southern Rukwa Basin
The National Environment Management Council ("NEMC") and Ministry of Environment in Tanzania have also completed their review of the Environmental and Social Impact Assessment ("ESIA") that was filed as part of the ML application, and the ESIA has been approved and an Environmental Impact Certificate ("EI Certificate") has now been issued to the Company
Pursuant to acceptance of the offer, the Company has also paid the first annual license fee and anticipates the formalities of the award to be completed shortly
The next steps will be the formal award of the ML, and the completion and execution of Regulatory Framework Agreements
"We are very pleased to have accepted this offer of the first helium ML in Tanzania and we look forward to further appraising and developing this project. The Company acknowledges the effort of the MC that has gone into reviewing and analysing the ML application and their understanding that has resulted in an ML that is significantly larger than one normally issued for a standard mineral project in order to accommodate the helium play that extends over a larger fractured and faulted sub-surface area. Following a formal award, the Company will continue the planning stage for moving this project forward towards development.
It is a huge achievement for the Company to have progressed from flowing first helium to surface in August 2024 (following the extended well test at Itumbula West-1), to receipt of a ML in just over six months. This reflects the dedicated team we have in place, as well as the established relationships we have in-country, and I would like to extend my sincere thanks to the Mining Commission and the Ministry of Minerals for their continued support."
Details
Further to the Notification of the Grant of a Mineral Right that was made by the MC at the end of February 2025 and announced by the Company on 3 March 2024, the Company has now formally accepted the offer and, pursuant to relevant legislation, has also paid in advance the licence fee for the first 12 months.
NEMC have also completed their review of the ESIA report that formed part of the ML application and have now formally awarded the Company with an EI Certificate.
The next step in this process will be the formal award of the ML, and the completion and execution of Regulatory Framework Agreements. These are the agreements and documents that govern the establishment of a joint venture company, to be owned by both the Company and the Government of Tanzania, that will develop the southern Rukwa Helium project.
The Company will make further announcements as this process continues.
For further information please visit the Company's website: www.helium-one.com
Contact
Helium One Global Ltd Lorna Blaisse, CEO Graham Jacobs, Finance and Commercial Director
+44 20 7920 3150
Panmure Liberum Limited (Nominated Adviser and Joint Broker) Scott Mathieson Nikhil Varghese
+44 20 3100 2000
Zeus Capital Limited (Joint Broker) Simon Johnson Louisa Waddell
+44 20 3829 5000
Tavistock(Financial PR) Nick Elwes Tara Vivian-Neal
+44 20 7920 3150
Notes to Editors
Helium One Global, the AIM-listed Tanzanian explorer, holds prospecting licences across two distinct project areas, with the potential to become a strategic player in resolving a supply-constrained helium market.
The Rukwa and Eyasi projects are located within rift basins on the margin of the Tanzanian Craton in the north and southwest of the country. These assets lie near surface seeps with helium concentrations ranging up to 10.4% helium by volume. All Helium One's licences are held on a 100% equity basis.
The Company's flagship southern Rukwa Project is located within the southern Rukwa Rift Basin in south-west Tanzania. This project is considered to be entering an appraisal stage following the success of the 2023/24 exploration drilling campaign, which proved a helium discovery at Itumbula West-1 and, following an extended well test, successfully flowed 5.5% helium continually to surface in Q3 2024.
Following the success of the extended well test, the Company flowed significant quantities of helium to surface and filed a Mining Licence ("ML") application with the Tanzania Mining Commission in September 2024. The 480km2 ML has now been offered to the Company and was officially accepted in March 2025.
The Company also owns a 50% working interest in the Galactica-Pegasus helium development project in Las Animas County, Colorado, USA. This project is operated by Blue Star Helium Ltd (ASX: BNL).
Helium One is listed on the AIM market of the London Stock Exchange with the ticker of HE1 and on the OTCQB in the United States with the ticker HLOGF.
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