Duyuru • Mar 10
Helium Evolution Incorporated, Annual General Meeting, May 20, 2026 Helium Evolution Incorporated, Annual General Meeting, May 20, 2026. Duyuru • Sep 04
Helium Evolution Incorporated Provides Operations Update Helium Evolution Incorporated provided an operational update on its helium processing facility in the Mankota area, located at 1-2-4-9W3 (the "Soda Lake Facility") and the related gathering system. The Soda Lake Facility, a joint project with North American Helium Incorporated ("NAH") is in its final stages of construction, now more than 95% complete. Designed to process 12 million standard cubic feet per day of raw gas, the facility will initially be supplied by three helium wells connected through a dedicated pipeline gathering system. Construction of the wellsite metering facilities and associated pipeline infrastructure to the Soda Lake Facility is underway and is expected to take approximately one month to complete. Startup of the purification facility and connected wells remains on track for early in the fourth quarter of 2025. HEVI holds a 20% working interest in both the Soda Lake Facility and the related gathering system, representing an investment of approximately $5.3 million. This commitment is fully funded through the Company's recently completed $8.3 million convertible note issuance, which closed on August 29, 2025. Duyuru • Aug 26
Helium Evolution Incorporated announced that it expects to receive CAD 8.3 million in funding from ENEOS Xplora USA Limited Helium Evolution Incorporated announced a private placement and entered into an agreement with ENEOS Xplora USA Limited to issue a convertible Note for aggregate proceeds of CAD 8,300,000 on August 26, 2025. The Note is convertible into common Shares of the company at a minimum conversion price of CAD 0.205. The Note will bear an interest rate of 8.5% per annum and mature on August 29, 2027. The transaction is expected to close August 29, 2025. Duyuru • Mar 25
Helium Evolution Incorporated Provides Update on 5-30 and 10-36 Wells Helium Evolution Incorporated provided an update on two of the Company's helium discovery wells: the 5-30-3-8W3 well ("5-30 Well") and the 10-36-3-9W3 well ("10-36 Well"), both located along the Mankota helium fairway. HEVI holds a 20% working interest in both the 5-30 Well and the 10-36 Well, in partnership with the operator, North American Helium Inc. ("NAH"). On February 25, 2025, the Company announced preliminary results from the 5-30 Well including production of approximately 9.7 million standard cubic feet per day ("MMscf/d") at 10,700 kiloPascal ("kPa") flowing tubing pressure after a five-day extended flow period. The preliminary test results also confirmed a helium content of 0.76%, significantly higher than the commercially viable threshold of 0.3%. Pressure data analysis indicated the 5-30 Well is a new pool discovery. The preliminary test results confirmed a helium content of 0.,81%, again well above the commercially viable threshold of 0.,3%. Duyuru • Mar 12
Helium Evolution Incorporated, Annual General Meeting, May 21, 2025 Helium Evolution Incorporated, Annual General Meeting, May 21, 2025. Duyuru • Mar 11
Helium Evolution Incorporated announced that it expects to receive CAD 2.7098 million in funding from ENEOS Xplora USA Limited Helium Evolution Incorporated announced a private placement to issue 15,940,000 units at a price of CAD 0.17 per unit for gross proceeds of CAD 2,709,800 on March 10, 2025. The transaction will include participation from new investor ENEOS Xplora USA Limited. The first closing of the offering is expected to close on or about March 17, 2025, with a second closing anticipated on or about March 31, 2025, subject to requisite approvals by the TSX Venture Exchange. Following the second closing date, the investor will hold approximately 19.9% of the issued and outstanding shares on a diluted basis. Each unit will be comprised of one common share and one half of one common share purchase warrant. Each warrant will entitle the holder thereof to acquire one common share at a price of CAD 0.27 for a period of one year from the applicable closing dates, with an acceleration feature if the closing price over a 30-day period remains at or above CAD 0.51 per common share at any time following the six-month anniversary of closing. The unit shares, warrants and warrant shares issued pursuant to the offering will be subject to a six month hold period from the applicable closing dates, in accordance with the terms of the investment agreement. Duyuru • Feb 27
Helium Evolution Incorporated Provides Significant Update on Production Facilities, Preliminary Results of 5-30 Well Helium Evolution Incorporated announced plans for production facilities in the Mankota area, with anticipated production slated for the fourth quarter of 2025. Additionally, the Company is providing preliminary test results from its 5-30-3-8W3 helium discovery well (the “5-30 Well”), located along the Mankota helium fairway. HEVI holds a 20% working interest in the 5-30 Well, in partnership with the operator, North American Helium Inc. HEVI continues to work closely with NAH to plan the next phase of development in the Mankota area. With four helium discovery wells in close proximity to one another, NAH is actively pursuing the licensing and installation of processing facilities in the area. The size and specifications of the facility will be determined following the final analysis of the 5-30 Well results. It is anticipated that the facilities will be operational in the fourth quarter of 2025, contingent on surface, licensing and installation considerations. HEVI fully supports this initiative, as the establishment of processing facilities is a crucial step in HEVI’s strategy to transition toward commercial helium production. Completion, perforation and initial production testing of the 5-30 Well are ongoing. After an extended 5-day flow testing period, the 5-30 Well was producing approximately 9.7 million standard cubic feet per day at 10,700 kiloPascal flowing tubing pressure. The preliminary test results also confirmed a helium content of 0.76%, significantly higher than the commercially viable threshold of 0.3%. Furthermore, the 5-30 Well produced negligible water, signaling strong potential for efficient helium recovery and processing. Duyuru • Feb 10
Helium Evolution Provides Encouraging Preliminary Update on 10-36 Well Helium Evolution Incorporated announced preliminary test results from its 10-36-3-9W3 helium discovery well (the "10-36 Well") along the Mankota helium fairway. HEVI holds a 20% working interest in the 10-36 Well, in partnership with the operator, North American Helium Inc. ("NAH"). Completion, perforation and initial production testing of the 10-36 Well are ongoing. After an extended 5-day flow testing period, the 10-36 Well was producing approximately 11.5 million standard cubic feet per day ("MMscf/d") at 13,100 kiloPascal ("kPa") flowing tubing pressure. The preliminary test results also confirmed a helium content of 0.81%, significantly higher than the commercially viable threshold of 0.3%. Furthermore, the 10-36 Well produced negligible water, signaling strong potential for efficient helium recovery and processing. Following the extended production flow period, the 10- 36 Well will be shut in for 14 days to gather reservoir pressure data. This data will be analyzed to further evaluate the resource potential and optimize future development. The 10-36 Well preliminary results are subject to further analysis. Duyuru • Jan 22
Helium Evolution Incorporated Announces 10-36 Well Encounters Helium and Drilling Update Helium Evolution Incorporated announced that its farm-in partner, North American Helium Inc. ("NAH"), has successfully completed drilling operations and is proceeding with casing of the joint well at 10-36-3-9W3 (the "10-36 Well"), located on lands near Mankota in Saskatchewan.
The 10-36 Well, a delineation well situated approximately one kilometer east of original 9-35-3-9W3 ("9-35
Well") discovery well and 1.3 kilometers south of the 10-1-4-9W3 ("10-1 Well") delineation helium well, will
undergo completion, testing and evaluation in the coming weeks. This process will confirm the presence of
helium and assess commerciality of the potential helium discovery. HEVI also anticipates several key upcoming milestones in its development drilling program: 12-29-2-8W3 ("12-29 Well"), spud on January 20, 2025; 5-30-3-8W3 ("5-30 Well"), anticipated to spud immediately following the rig release of the 10- 36 Well; 3-19-3-8W3 ("3-19 Well"), anticipated to spud on or around February 7, 2025; and NAH has obtained a license for a well at 5-17-3-8W3 ("5-17 Well"). Duyuru • Jan 16
Helium Evolution Provides Update on 10-1 Helium Discovery and Drilling Plans Helium Evolution Incorporated provided an update on its helium discovery following the completion of the Deadwood zone and initial testing of the joint well drilled at 10-1-4-9W3 (“10-1 Well”). On December 16, 2024, the Company announced that the 10-1 Well successfully flow tested at approximately 9.5 million standard cubic feet per day (“MMscf/d”) with a flowing tubing pressure of 10,800 kiloPascals during the four-day extended flow period. The gas composition of the 10-1 Well revealed 0.75% helium and 96.3% nitrogen, with the balance comprised of fractional percentages of minor component gases. Helium concentrations above 0.3% are deemed commercially viable. Since HEVI’s initial announcement, a post-flow pressure transient analysis (“PTA”) of the 10-1 Well, conducted by Petro Management Group Ltd. has provided encouraging insights. The PTA utilized a composite reservoir model to assess pressure response, flow rates, reservoir properties and potential pool boundaries, all of which are important data points for guiding future development plans in the area. The PTA indicated no reservoir pressure depletion or discernible reservoir boundaries, suggesting the presence of a potentially large, expansive and productive reservoir. Additionally, bottomhole pressures recorders were installed in the offsetting well located approximately two kilometers away at 9-35-3-9W3 (“9-35 Well”) during the 10-01 Well’s flow test. Analysis of this pressure data confirmed pressure communication between the two wells, further supporting the potential of a large, continuous reservoir. The PTA also calculated an absolute open flow potential of 26.0 MMscf/d, which is approximately 95% higher than the 9-35 Well. Furthermore, the absence of water during the test period is a favorable factor for helium recovery and processing. HEVI is also pleased to announce that its partner, North American Helium Inc. (“NAH”), has served the Company notice of its intention to move a second drilling rig into the Mankota area to drill a joint well. The 12-29-2-8W3 (the “12-29 Well”) well is expected to spud on or around January 20, 2025. HEVI is pleased to confirm its participation in the drilling of the 12-29 Well, with the Company holding a 20% working interest. The estimated total cost for HEVI’s share in the 12-29 Well is approximately $0.4 million net. Upcoming Catalysts: 10-36-3-9W3 (“10-36 Well”), drilling is currently underway; 5-30-3-8W3 (“5-30 Well”), anticipated to spud on or around January 20, 2025, immediately following the rig release of the 10-36 Well; 12-29 Well, anticipated to spud on or around January 20, 2025; and 3-19-3-8W3 (“3-19 Well”), anticipated to spud on or around February 7, 2025. Duyuru • Jan 07
Helium Evolution Incorporated Spuds Well Along the Mankota Helium Fairway Helium Evolution Incorporated announced 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 confirmed 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. Duyuru • Dec 17
Helium Evolution Incorporated Provides Encouraging Preliminary Update on 10-1 Well Helium Evolution Incorporated announced preliminary test results from its 10-1-4-9W3 helium discovery well (the "10-1 Well") along the Mankota helium fairway. HEVI holds a 20% working interest in the 10-1 Well, in partnership with the operator, North American Helium Inc. ("NAH"). Completion, perforation and initial production testing of the 10-1 Well is ongoing. At the end of a 4-day extended flow testing period, the 10-1 Well was producing approximately 9.5 million standard cubic feet per day ("MMscf/d") at 10,800 kilopascal ("kPa") flowing tubing pressure. The preliminary test also confirmed a helium content of 0.75%, significantly higher than the commercially viable threshold of 0.3%. Additionally, the 10-1 Well produced negligible water, indicating strong potential for efficient helium recovery and processing. After the extended production flow period, the 10-1 well will be shut in for 14 days to collect reservoir pressure data, which will be analyzed to further evaluate the resource's potential. Looking ahead, HEVI continues to work closely with NAH to plan the next phase of development. This includes the drilling of a joint well at 10-36-3-9W3 (the "10-36 Well"), which is expected to spud on or around January 2, 2025, subject to surface conditions. Duyuru • Nov 06
Helium Evolution Incorporated Announces Partner to Drill Additional Joint Well Helium Evolution Incorporated provided an update on its exploration activities, including the results of its recent joint well and plans for future drilling. The joint well drilled at 7-2-4-9W3M (the “7-2 Well”), in which HEVI holds a 20% working interest alongside its partner, North American Helium Inc. (“NAH”), has reached total depth. Following a thorough evaluation, the decision was made to suspend the cased hole portion of the well, which allows for flexibility to re-enter the well at a later date to explore additional targets via a sidetrack. Looking ahead, NAH has notified the Company of its intention to drill another joint well in the Mankota area, to be located at 10-1-4-9W3M (the “10-1 Well”). The 10-1 Well is anticipated to spud in the coming days. This initiative is part of the previously announced development plan for up to nine wells in the Mankota area, detailed on April 2, 2024. HEVI confirmed its participation in the drilling of the 10-1 Well, with the Company holding a 20% working interest. The estimated total cost for HEVI’s share in the 10-1 Well is approximately $0.4 million net and is supported by HEVI’s strong working capital position, which totaled $4.7 million as of June 30, 2024. This continued investment in the Mankota area underscores HEVI’s commitment to expanding its footprint in a promising sector. Duyuru • Oct 23
Helium Evolution and North American Helium Inc. to Drill Joint Well Helium Evolution Incorporated announced that its partner, North American Helium Inc. ("NAH"), has served the Company notice of its intention to drill a joint well in the Mankota area. This initiative is part of the previously announced development plan for up to nine wells in the Mankota area, as disclosed on April 2, 2024. The joint well is expected to spud before the end of October 2024 and is located at 7-2-4-9W3M (the "7-2 Well"). HEVI is pleased to confirm its participation in the drilling of the 7-2 Well, with the Company holding a 20% working interest. The estimated total cost for HEVI's share in the 7-2 Well is approximately $0.4 million net and is supported by HEVI's strong working capital position, which totaled $4.7 million as of June 30, 2024. Duyuru • Apr 11
Helium Evolution Incorporated Confirms Positive 9-35 Well Results Helium Evolution Incorporated provided an update on helium discovery following the completion of the Deadwood zone and initial testing of the joint well drilled at 9-35-3-9W3 ("9-35 Well"). On February 26, 2024, the Company outlined that the 9-35 Well flow tested at approximately 7 million standard cubic feet per day ("MMscf/d") and 9,000 kiloPascals flowing tubing pressure during the six-day extended flow period. The gas composition of the 9-35 Well is 0.64% helium and 96.7% nitrogen, with the balance comprised of fractional percentages of minor component gases. Helium concentrations over 0.3% are deemed commercially viable. Since HEVI's initial announcement, a post-flow pressure transient analysis ("PTA") conducted by Petro Management Group Ltd. has revealed positive insights. A composite reservoir model was used to determine pressure response, flow rates, reservoir properties and potential pool boundaries, all of which represent important data points to help inform future development plans in the area. 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 toodiffermaterially from the anticipated results, performance or achievements, and uncertainties resulting from potentialdelays or changes in plans with respect to exploration or development projects or capital expenditures. Whenlying on forward-lookingstatements, investors and otherssh shall carefully consider the foregoing factors and risks, other uncertainties and potential events. Duyuru • Apr 03
Helium Evolution Confirms Additional Drilling of Up to 9 New Wells on Joint Land and Provides Operations Update Helium Evolution Incorporated announce a joint initiative with its partner and the operator, North American Helium Inc. to embark on an ambitious drilling program in the Mankota area of Saskatchewan. HEVI and NAH are planning to drill up to nine joint development wells which are expected to spud between Third Quarter 2024 and Second Quarter 2025, subject to surface and environmental restrictions. With HEVI’s 20% working interest in the New Wells, the Company is positioned to capitalize on this strategic expansion, building upon three existing helium discoveries at Mankota, including the commercially viable 2-31 Well. The Company intends to work with NAH over the coming months to determine specific well locations and timelines. The additional drilling and development of the New Wells provides HEVI multiple catalysts and potential news events from now until the Company achieves first helium sales, expected in 2025. The Company is also pleased to confirm that HEVI has acquired an additional four sections of land (“4 Crown Sections”) that was previously unleased and is adjacent to existing HEVI and NAH development in the Mankota area, effectively filling in an area near the heart of existing helium activity. HEVI Upcoming Milestones and Catalysts - 2024 /2025 The accompanying map provides a visual overview of the Mankota area, showing existing wells and the location of the proposed 12-30 helium processing facility. 2-31 Well HEVI’s first helium discovery well at 2-31-2-8W3 (“2-31 Well”) was successfully stimulated and tested at economic rates with a helium concentration of 0.95%, more than three times the 0.3% level deemed commercially viable. Negligible volumes of water were produced at the 2-31 Well, a positive indication for helium recovery and processing. 9-18 Well After initial testing, HEVI’s discovery well at 9-18-3-8W3 (“9-18 Well”) had a preliminary helium concentration of 0.78% and no water. The 9-18 Well is awaiting stimulation, with timing subject to surface conditions. 9-35 Well HEVI’s discovery well at 9-35-3-9W3 (“9-35 Well”) has been shut-in for the requisite 21-day period to collect reservoir pressure data for interpretation. The Company and NAH are currently evaluating the results to determine next steps. 14-20 Location HEVI and NAH intend to drill an offset location to the 2-31 Well (the “14-20 Location”) designed to further delineate the helium pool. Due to environmental restrictions, the 14-20 Location will not be drilled until after September 15, 2024. New Well drilling program HEVI and NAH intend to drill six to nine New Wells, inclusive of the 14-20 Location, on the joint lands noted in the accompanying map, placing the New Wells in proximity to NAH’s producing Mankota pool and as a continuation of the trend being developed at Mankota. 12-30 Facility NAH has received approval for a facility license at 12-30-2-8W3 (the “12-30 Facility”), approximately 1,500 metres from the 2-31 Well. A final investment decision on the 12-30 Facility is expected subsequent to further delineation of the adjacent helium pool, followed by construction and commissioning, with the goal of supporting first helium sales in 2025. HEVI intends to continue updating the market on significant events and developments as information becomes available. Duyuru • Mar 12
Helium Evolution Incorporated, Annual General Meeting, May 22, 2024 Helium Evolution Incorporated, Annual General Meeting, May 22, 2024. Duyuru • Feb 27
Helium Evolution Incorporated Provides Operations Update Featuring Preliminary Production Test Data from Two Helium Discovery Wells Helium Evolution Incorporated provided an operational update on three Mankota-area wells in which the Company maintains a 20% working interest alongside HEVI's partner and the operator, North American Helium Inc. ("NAH"), including preliminary test results from two wells and confirmed stimulation of a third well. HEVI continues to work with NAH to determine optimal next steps, which may include the drilling of an offset location designed to further delineate the pool during the latter half of 2024. In addition, NAH has received approval of a facility license at 12-30-2-8W3, approximately 1,500 metres from the 2-31 Well, the construction of which would represent another significant milestone on HEVI's path to commercialization. Completion, perforation and initial production testing of HEVI's discovery well at 9-35-3-9W3 ("9-35 Well") is ongoing. The 9-35 Well was producing approximately 7 MMscf/d at 9,000 kPa flowing tubing pressure at the end of a six-day extended flow period, with a helium concentration of 0.64% and no water. After the extended production flow period, the 9-35 Well will be shut in for a 21-day period to collect reservoir pressure data for interpretation. After initial testing, HEVI’s discovery well at 9-18-3-8W3 (“9-18 Well”) had a preliminary helium concentration of 0.78% and no water. In an effort to enhance productivity, as was successfully done on the 2-31 Well, the 9-18 Well will be stimulated in the coming weeks, subject to surface conditions. Duyuru • Nov 22
Helium Evolution Confirms First Helium Discovery Helium Evolution Inc. confirmed HEVI's first joint helium discovery with partner, North American Helium Inc. ("NAH"), following completion of the Deadwood zone and initial testing of the joint well drilled at 2-31-2-8W3 ("Joint Well #1"), as announced on September 25, 2023. Joint Well #1 underwent a series of tests to confirm flow rates, reservoir boundaries and gas composition, all of which represent important data points to help inform future development plans in the area. Joint Well #1 had helium concentrations of 0.95%, more than three times the 0.3% level deemed commercially viable, and 96% nitrogen, with the balance comprised of fractional percentages of minor component gases. This gas composition is consistent with NAH's producing helium pool 15 kilometers to the north, supporting HEVI's belief that the area offers meaningful potential for commercial helium development. Duyuru • Oct 25
Helium Evolution Incorporated Provides Operations Update Helium Evolution Incorporated announced that its farm-in partner, North American Helium Inc. ("NAH"), has informed HEVI of its intention to amend one of its previously selected locations from 12-36-3-9W3 to 9-35-3-9W3 ("Test Well Area #1"). In addition, HEVI has granted NAH an extension of the original spud date from November 1, 2023 to November 30, 2023 in order to accommodate rig scheduling. NAH is responsible for 100% of the drilling costs for Test Well Area #1, while HEVI retains a 20% working interest in that well. As announced on September 25, 2023, HEVI and its partner NAH, successfully drilled and cased the first joint well and encountered helium at 2-31-2-8W3 ("Joint Well #1"). The Company announced that Joint Well #1 has been completed, and the testing and evaluation phase is underway. HEVI has a 20% working interest in Joint Well #1. Upon conclusion of the testing and evaluation phase, HEVI will provide a further update on the well's performance. Duyuru • Oct 14
Helium Evolution Incorporated Announces Farm-In Partner to Drill Second Joint Well Helium Evolution Incorporated announced that its farm-in partner, North American Helium Inc. ("NAH"), has served the Company notice of its intention to drill a joint well on the lands NAH earned pursuant to the farm-out agreement (the "Amended Farmout Agreement") announced on October 21, 2022. The joint well is expected to spud before the end of November 2023, and will be located at 9-18-3-8W3M ("Joint Well #2"). Joint Well #2 is the second confirmed joint well and is in addition to the eight previously announced wells to be drilled by NAH on HEVI lands. HEVI has confirmed that it will participate in the drilling of Joint Well #2 at its 20% working interest, which is estimated to cost the Company approximately $0.4 million net. Funding of the Company's share of Joint Well #2 is supported by HEVI's strong working capital position which totaled $8.8 million at June 30, 2023. Duyuru • Sep 29
Helium Evolution Incorporated Provides Update on Recent Wells and Highlights Planned Quarter/23 Drilling Helium Evolution Incorporated provided an update on the status of two recently drilled wells, along with upcoming planned drilling for the fourth quarter of 2023. As announced on September 25, 2023, HEVI and farm-in partner, North American Helium Inc. successfully drilled and cased the first joint well to encounter helium at 2-31-2-8W3 on lands within Block 1 at Mankota in Saskatchewan. HEVI has a 20% working interest in Joint Well #1. NAH has indicated their intention to proceed with completion and production testing of Joint Well #1 in the coming weeks, after which HEVI will provide an update on the well's performance. As previously announced on September 19, 2023, NAH spud the farmout well at 11-13-13-29W3 ("Test Well #4"), on farmout lands within Block 3 at Fox in Saskatchewan. Test Well #4 was drilled and fully funded by NAH pursuant to a previously announced farmout arrangement. After reaching total depth, NAH notified HEVI that the open hole portion of Test Well #4 will be adopted, but that NAH is electing to suspend the cased hole portion of the well to afford optionality and the ability to re-enter it at a later date. Duyuru • Sep 26
Helium Evolution’s Farmout Well Encounters Helium, Proceeding with Completion and Testing Helium Evolution Incorporated announced that its farm-in partner, North American Helium Inc., has successfully completed drilling and casing of the first joint well at 2-31-2-8W3 (“Joint Well #1”), on lands within Block 1 at Mankota in Saskatchewan. NAH will complete, test and evaluate the well in the coming weeks to confirm the presence of helium and assess commerciality of the potential helium discovery. Duyuru • Aug 31
Helium Evolution Provides Update from North American Helium’s Fifth Farmout Well HeliumEvolution Incorporated provides an update on the fifth farmout well at 6-13-5-7W3 (“Test Well Area #2”), on farmout lands within the McCord block in Saskatchewan. Test Well Area #2 was drilled and fully funded by HEVI’s farmout partner, North American Helium Inc. (“NAH”), pursuant to a previously announced farmout arrangement (the “Farmout”). After reaching total depth, NAH notified HEVI that Test Well Area #2 will be abandoned.Upcoming Drilling Catalysts and Key Dates; On or before November 1, 2023: The Mankota location selected at 5-36-3-9W3 (“Test Well Area #1”) is scheduled to be spud by NAH; and On or before March 31, 2024: The Fox location selected at 11-13-13-29W3 (“Test Well #4”) is scheduled to be spud by NAH. NAH is responsible for 100% of the drilling costs for Test Well Area #1 and Test Well #4, while HEVI retains a 20% working interest in the wells, supporting the Company’s continued financial flexibility and capital conservation. New Risk • Jun 10
New major risk - Market cap size The company's market capitalization is less than US$100m. Market cap: US$11.9m This is considered a minor risk. Companies with a small market capitalization are most likely businesses that have not yet released a product to market or are simply a very small company without a wide reach. Either way, risk is elevated with these companies because there is a chance the product may not come to fruition or the company's addressable market or demand may not be as large as expected. In addition, if the company's size is the main factor, it is less likely to have many investors and analysts following it and scrutinizing its performance and outlook. Currently, the following risks have been identified for the company: Major Risks Shares are highly illiquid. Revenue is less than US$1m. Minor Risks Less than 3 years of financial data is available. Shareholders have been diluted in the past year (22% increase in shares outstanding). Market cap is less than US$100m (US$11.9m market cap). Duyuru • Jan 10
Helium Evolution Provides Update on Seismic Acquisition and Second Farmout Well Drilled by North American Helium Helium Evolution Incorporated provides an update on the second well (the “Second Test Well”), NAH Pinto Creek 01-01-06-10W3M, on farmout lands within Block 1 at Mankota in Saskatchewan. The Second Test Well was drilled and fully funded by HEVI’s farmout partner, North American Helium (“NAH”), pursuant to a previously announced farmout arrangement. After reaching total depth, NAH informed HEVI that the Second Test Well will be abandoned. NAH is expected to select its third licenced location on HEVI lands (the “Third Test Well”) by March 31, 2023 and spud the Third Test Well before June 30, 2023. 
