Helium Evolution Provides Operations Update

Source: www.gulfoilandgas.com 6/17/2024, Location: North America

Helium Evolution Incorporated ("HEVI" or the "Company"), a Canadian-based helium exploration company focused on developing assets in southern Saskatchewan, is pleased to provide an update regarding its Mankota helium discoveries.

The 9-18-3-8W3 well (“9-18 Well”) stimulation is now anticipated to take place later in June or in July 2024. The delay is due to higher than normal rainfall in the Mankota area, which has impacted the surface conditions and postponed the start of the 9-18 Well stimulation.

Looking ahead, HEVI is diligently working on acquiring surface leases for multi drilling locations on four sections of recently acquired land, in which the Company holds a 100% working interest (“4 Crown Sections”). In addition, HEVI and its partner, North American Helium Inc. (“NAH”), are working together to finalize drilling locations and acquire surface leases for up to nine joint development wells (the “New Wells”) on a defined helium trend in the Mankota area. The New Wells are expected to spud between Q3 2024 and Q2 2025.

Additionally, HEVI announces that, subject to applicable TSX Venture Exchange approval, the Board of Directors of the Company has approved the amendment of an aggregate of 700,000 incentive stock options, of which 420,000 incentive stock options have vested (the "Amended Options"), previously granted to certain consultants, and investor relations service providers of the Company under the Company's 2021 stock option plan (the "Option Amendments"). The Amended Options were originally granted on June 30, 2022 at an exercise price of $0.385 per share, and are exercisable until June 30, 2027. Pursuant to the Option Amendments, the exercise price of the Amended Options has been amended to $0.15 per share and there is no change to the expiry date. None of the Amended Options are held by insiders of the Company.

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 the Company’s current corporate presentation, 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. In addition to recent media articles, HEVI maintains a profile on the Investing News Network platform, where further information, editorial pieces and industry reviews are available.


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