The Company Is Evaluating Multiple Additional Targets within the Land Package Near Existing Helium Production
Calgary, Alberta, September 14, 2021 /CNW/ – First Helium Inc. (“First Helium” or the “Company”) (TSXV: HELI) (FRA: 2MC), a helium exploration company with access to significant development opportunities across western Canada, is pleased to highlight continued progress on its evaluation of highly prospective helium exploration lands in Southern Alberta. The Company secured the option agreement (the “Option”) with a large independent royalty company (the “Optionor”) in May 2021 specifically to review the Optionor’s seismic database within the 357,220 net hectares (approximately 880,000 acres) of optioned lands (the “Option Land Block”) for targets prospective for helium.
“We are extremely pleased with our ongoing evaluation of the Option Land Block. The Option provides a tremendous opportunity for a growing helium explorer to evaluate, on an exclusive priority basis, such a vast amount of seismic data on a large land base, near existing helium production,” said Ed Bereznicki, President & CEO of First Helium. “The option structure is ideal as it gives us immediate access to a contiguous land package in an area with known helium content indications, and a significant amount of seismic data which would take many years and tens of millions of dollars to generate”, added Mr. Bereznicki.
The Option Land Block is located near existing helium production in Southern Alberta. Historical gas analyses from numerous well penetrations on, and in the vicinity of, the Option Land Block indicate helium content ranging from 0.5% to greater than 2.0%.
“These prospective lands, which include areas that have historically produced unrecovered helium gas along with targeted hydrocarbons, strategically augment our helium development project at Worsley and set the stage for a second potential core area to be explored and developed by the Company,” added Mr. Bereznicki.
The Option provides First Helium with access to approximately 900 square kilometers of three-dimensional seismic data and 530 kilometers of two-dimensional seismic data for priority evaluation over the large contiguous land base. Ready access to a large seismic database, necessary for de-risking helium exploration over a large prospective land base, facilitates an accelerated exploration cycle for the Company in connection with the Option Land Block. Details of the Option are more fully described in the Company’s Final Prospectus, dated June 28, 2021.
ABOUT FIRST HELIUM
First Helium is a helium exploration and development company operating in the Worsley area of Alberta, Canada. It was founded to capitalize on the untapped potential of significant helium resources in Western Canada, in response to the shifting supply dynamics of the global marketplace. Building on its successful discovery well, which has production tested at over 1.3% of helium content over three test periods, First Helium is working to develop its land base of over 32,000 hectares along the highly prospective Worsley helium trend. To establish its operating base, First Helium seeks to market its helium gas into the North American market via term off-take marketing arrangements with established third-party distribution companies.
For more information about the Company, please visit www.firsthelium.com. The Company’s final prospectus, financial statements and management’s discussion and analysis, among other documents, are all available on its profile page on SEDAR at www.sedar.com.
ON BEHALF OF THE BOARD OF DIRECTORS
Edward J. Bereznicki
President, CEO and Director
First Helium Inc.
Phone: 1-833-HELIUM1 (1-833-435-4861)
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FORWARD-LOOKING AND CAUTIONARY STATEMENTS
This news release contains certain statements or disclosures relating to First Helium that are based on the expectations of its management as well as assumptions made by and information currently available to First Helium which may constitute forward-looking statements or information (“forward-looking statements”) under applicable securities laws. All such statements and disclosures, other than those of historical fact, which address activities, events, outcomes, results or developments that First Helium anticipates or expects may, or will occur in the future (in whole or in part) should be considered forward-looking statements. In some cases, forward-looking statements can be identified by the use of the words “expect”, “will” and similar expressions. In particular, but without limiting the foregoing, this news release contains forward-looking statements pertaining to the listing of the Common Shares on the Exchange, the use of funds and the Company’s strategy. The forward-looking statements contained in this news release reflect several material factors and expectations and assumptions of First Helium including, without limitation: that First Helium will continue to conduct its operations in a manner consistent with past operations; the general continuance of current or, where applicable, assumed industry conditions; availability of debt and/or equity sources to fund First Helium’s capital and operating requirements as needed; and certain cost assumptions.
Forward-looking statements are based on estimates and opinions of management at the date the statements are made and are subject to risks, uncertainties and assumptions, including those set out in the Final Prospectus dated June 28, 2021 and filed under the Company’s profile on SEDAR at www.sedar.com. First Helium does not undertake any obligation to update forward looking statements, except as required by applicable securities laws. Investors should not place undue reliance on forward-looking statements.