Helium Evolution Provides Well Results and Announces Partner to Drill Additional Joint Well

Company Overview - Helium Evolution Incorporated (HEVI) is a Canadian-based helium exploration company focused on developing assets in southern Saskatchewan, holding the largest helium land rights position in North America among publicly-traded companies with over five million acres under permit [6] Recent Exploration Activities - HEVI has provided an update on its exploration activities, including the results of a joint well (7-2 Well) where it holds a 20% working interest alongside North American Helium Inc. (NAH), which has reached total depth and the cased hole portion has been suspended for future exploration [2][4] - NAH plans to drill another joint well (10-1 Well) in the Mankota area, anticipated to spud in the coming days, as part of a development plan for up to nine wells in the area [3][4] Financial Position - The estimated total cost for HEVI's share in the 10-1 Well is approximately $0.4 million, supported by a strong working capital position of $4.7 million as of June 30, 2024, indicating the company's capability to fund its exploration initiatives [4] Strategic Commitment - HEVI's continued investment in the Mankota area underscores its commitment to expanding its footprint in the helium sector, aiming to become a leading supplier of sustainably-produced helium for the growing global market [4][6]