NEWS RELEASE | OCTOBER 17, 2023 | VANCOUVER BC
PULSAR GAINS HIGHLY PROSPECTIVE LICENCE AREA AT THE TUNU PROJECT, GREENLAND
Pulsar Helium Inc. (TSXV:PLSR & FRA:Y3K) ("Pulsar" or the "Company") is pleased to announce that it has received an addendum to its Licence No. 2021-45 (referred to as the Tunu Project in Greenland), confirming enlargement to include a prospective area for both helium and geothermal power generation.
The enlarged Tunu Project area now covers a total of 2,816 km2, an increase of 45km2. This enlarged area covers the Kap Tobin locality where thermal springs were sampled in 2021, returning a helium concentration of 0.8%, associated with 97% nitrogen and 2% argon. The same location has been studied by geothermal industry experts including the Iceland GeoSurvey who have published data stating that cogeneration of power and heat looks achievable due to the 80°C geochemical temperature at depth and access to the locally cold ocean as a heat sink. The Government of Greenland has stated that the usage of geothermal energy falls under the administrative purview of the Mineral Resource Authority if the usage occurs as part of a mineral exploitation activity, such as Pulsar's activities for helium.
Quote from the President & CEO, Thomas Abraham-James:
"Helium has recently been added to the European Union's list of critical raw materials, and Pulsar's Tunu project is one of very few primary helium occurrences in Europe. Tunu was generated in-house and is the first helium licence to be granted in Greenland. The licence enlargement covers a strategic location that contains a proven primary helium system, and potential for geothermal energy."
About the Tunu helium project:
Pulsar is the first mover exploring for helium in Greenland, having received the only license of its kind that gives exclusive rights for the exploration of helium, hydrogen and all other minerals (excluding hydrocarbons and radioactive elements). Licence No. 2021-45 covers an extremely large exclusive land position of 2,816km2, on the east coast of Greenland that is Europe facing. The Tunu Project was generated in-house by Pulsar technical staff and is one of few locations where primary helium (not associated with the production of hydrocarbons) has been identified, globally. Sampling of thermal springs occurred in 2021, conducted by staff from Pulsar and the Woods Hole Oceanographic Institution, helium concentrations of up to 0.8% associated mostly with nitrogen were identified.
About Pulsar Helium Inc.
Pulsar Helium Inc. is a publicly traded company listed on the TSX Venture Exchange with the ticker PLSR. Pulsar's portfolio consists of the Topaz helium project in Minnesota, USA and the Tunu helium project in Greenland. Pulsar is the first mover in both locations with primary helium occurrences not associated with the production of hydrocarbons identified at each. For further information visit https://pulsarhelium.com, follow us on X (formerly known as Twitter) https://twitter.com/pulsarhelium?lang=en and LinkedIn https://ca.linkedin.com/company/pulsar-helium-inc.
On behalf Pulsar Helium Inc.
"Thomas Abraham-James"
President, CEO and Director
Further Information:
Thomas Abraham-James President,
CEO and Director Pulsar Helium Inc.
connect@pulsarhelium.com
+ 1 (604) 599-0310
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Forward Looking Statements
This news release contains forward-looking statements and forward-looking information within the meaning of Canadian securities legislation (collectively, "forward-looking statements") that relate to the Company's current expectations and views of future events. Any statements that express, or involve discussions as to, expectations, beliefs, plans, objectives, assumptions or future events or performance (often, but not always, through the use of words or phrases such as "will likely result", "are expected to", "expects", "will continue", "is anticipated", "anticipates", "believes", "estimated", "intends", "plans", "forecast", "projection", "strategy", "objective" and "outlook") are not historical facts and may be forward-looking statements and may involve estimates, assumptions and uncertainties which could cause actual results or outcomes to differ materially from those expressed in such forward-looking statements. In particular and without limitation, this news release contains forward-looking statements pertaining to the prospective nature of the Tunu area, achievement of the Company's business objectives going forward and other statements that are not historical facts. No assurance can be given that these expectations will prove to be correct and such forward-looking statements included in this news release should not be unduly relied upon. These statements speak only as of the date of this news release.
Forward-looking statements are based on a number of assumptions and are subject to a number of risks and uncertainties, many of which are beyond the Company's control, which could cause actual results and events to differ materially from those that are disclosed in or implied by such forward- looking statements. Such risks and uncertainties include, but are not limited to Pulsar may be unsuccessful in drilling commercially productive wells; exploration and drill costs may be higher than estimates; delays in the commencement of exploration and drilling, and other factors set forth under "Cautionary Note Regarding Forward Looking Statements and Market and Industry Data" and "Risk Factors" in the Final Prospectus. The Company undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as may be required by law. New factors emerge from time to time, and it is not possible for the Company to predict all of them, or assess the impact of each such factor or the extent to which any factor, or combination of factors, may cause results to differ materially from those contained in any forward-looking statement. Any forward-looking statements contained in this news release are expressly qualified in their entirety by this cautionary statement.
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