Helium One Global Ltd. Reports Independent CPR Results

The information contained within this announcement constitutes inside information.

Helium One Global Announces Independent CPR on Tanzanian Southern Rukwa Helium Project

LONDON, GB / ACCESS Newswire / June 25, 2025 / Helium One Global (AIM:HE1), a key player in Tanzania’s helium exploration scene and holding a 50% stake in the Galactica-Pegasus helium development project in Colorado, today revealed the findings of an independent competent person’s report (“CPR”) assessing the contingent and prospective resources at its southern Rukwa Helium Project in Tanzania. The evaluation was conducted by Sproule ERCE, a leading international reserves auditor.

This assessment focuses exclusively on the recently acquired 480km² Mining Licence (“ML”) area (see fig.1). The resource estimates are largely consistent with the company’s internal figures, which underpinned the Feasibility Study (“FS”) and the ML application submitted in September 2024.

Key Highlights:

• Sproule ERCE has evaluated the deterministic sum of 2C Gross Helium Contingent Resources¹ for the Itumbula development at 295,797 thousand standard cubic feet (“Mscf”), with a 3C case of 1,345,591 Mscf Gross Helium Contingent Resources¹.
• Additional Prospective Resources² within the broader ML area, excluding those allocated to the Itumbula discovery, are estimated by Sproule ERCE at 709,239 Mscf (2U) and 3,227,556 Mscf (3U) (Unrisked).
• Contingent Resources¹ have been assessed using type curves and a well schedule, considering both an Early Production System (“EPS”) and a subsequent Central Processing Facility (“CPF”).
• Sproule ERCE has classified Contingent Resources¹ for the EPS under the “Development on Hold” sub-category for the initial ML period. Production beyond this point falls under “Development Unclarified,” as a standard license extension will be required.
• The phased development plan begins with a 5-well EPS, followed by a 15-well program and culminating in a 46-well full-field development.

James Smith, Non-Executive Chairman of Helium One, commented:

“The completion of this Independent CPR reinforces our long-held belief: the Southern Rukwa project has the potential to be a crucial and strategic helium asset in Africa.”

“We’re eager to finalize the Mining Licence’s execution and collaborate with the Tanzanian government and local communities to move this project forward.”

Lorna Blaisse, CEO of Helium One, added:

“We are pleased that this CPR validates the work conducted following our successful drilling at ITW-1 and the subsequent extended well test. Furthermore, it boosts our confidence in the unconventional helium play. We’ve confirmed a resource with the ability to make a significant impact in a supply-constrained market.”

“This is the first helium contingent resources CPR in Tanzania for a definite license area. With this development, we’re advancing our project towards development with more confidence.”

CPR Details:

Sproule ERCE notes that, unlike conventional gas discoveries, helium in the southern Rukwa Project is stored within water aquifers, and therefore, there’s no specific trap defined. The gas-water ratio and helium concentrations can change with water production. This CPR follows the Society of Petroleum Engineers (“SPE”) guidelines.

Contingent Resources

Sproule ERCE assessed Contingent Resources¹, utilizing type curves and a well schedule for the EPS and the ensuing CPF development. “Development on Hold” is the sub-category for the EPS for the initial period of the mining licence. Further production beyond this initial phase is assigned to the “Development Unclarified” sub-class.

Fig.1Map illustrating the red ML outline (ML 0795/2025) of 480km² in the southern Rukwa Helium Project, with wells drilled and associated helium measurements.

Sproule ERCE generated type curves for a typical well by forecasting water production and then probabilistically multiplying it by gas-water ratio and helium percentages to establish P90-P50-P10 ranges for a type well. This data was then utilized to generate a multi-well production profile which was also constrained to the facility’s capacity.

Prospective Resources

Beyond the Contingent Resources¹, Sproule ERCE has also calculated Prospective Resources² within the awarded ML area, not included by the Itumbula discovery. According to the company, those estimated volumes are potentially recoverable through future development.

Sproule ERCE has allocated Prospective Resources² to the mapped basement fault areas that are not being targeted by EPS or CPF development. These are estimated using a similar method to that used for Contingent Resources¹, determining water production forecasts and calculating for further drilling in prospective locations. Well spacing has been calculated using Helium One’s reservoir simulator.

Sproule ERCE has evaluated the geological chance of success (“COS”) of the Prospective Resources², assigning a COS of 50%. The key risk factors for Helium resources are source (generation and migration) and reservoir (presence and efficacy), with reservoir efficacy posing the highest risk.

Proposed Development Plan

Sproule ERCE has reviewed the proposed plans for the Itumbula West development, including a full-scale development and an EPS. In this strategy, wells are sited near the mapped basement faults. The company believes reservoir quality increases near these faults, especially within the fault damage zone.

The EPS, which is conceptually similar to the full development, is designed with a lower initial capital investment. The wells will be connected to a central facility, where produced fluids will be processed into sales-grade helium, wastewater released, and waste gases are to be vented on site. The EPS is anticipated to operate for six months before the full development project is implemented.

Feasibility Study

This CPR validates the company’s understanding of the project while using the ITW-1 helium discovery data from last year. Additionally, it incorporates the extended well test (“EWT”) data that enabled the company to generate a detailed dynamic volumetric model. The FS will be released formally once the ML has been awarded and all associated agreements have been executed.

Definitions:

¹Contingent Resourcesrepresent potentially recoverable gas quantities from known accumulations where project maturity isn’t sufficient for commercial development, due to contingencies. Contingent Resources are further categorized according to certainty as 1C, 2C, and 3C.

²Prospective Resourcesare estimated recoverable quantities from undiscovered accumulations by application of future projects. Prospective Resources have a geological discovery chance and development chance. Estimates are categorized as 1U, 2U, and 3U. Prospective Resources can be further categorized as Prospects, Leads, and Plays.