CALGARY, Alberta, Jan. 25, 2023 (GLOBE NEWSWIRE) — Global Helium Corp. (CSE: HECO) (OTC: HECOF) (the “Company” or “Global”), one of North America’s largest helium exploration and development companies, is pleased to announce it has acquired additional acreage in southern Saskatchewan’s “helium fairway,” advancing the Company’s 100%-owned acreage to over 1.5 million acres, making Global one of the largest helium-focused landholders in North America.
Post-acquisition, Global Helium has over $9.5 million in cash and is Canada’s second largest land holder of helium rights. Global enjoys 100% ownership of the entire 1.5 million acres and pays royalties of less than 5%, yielding greater than a 95% Net Revenue Interest.
“We continue to advance our strategic priorities, which include: (i) expanding our Saskatchewan land holdings in Canada, (ii) using geophysical and other technologies to evaluate our land base to advance our prospects to the drill stage, and (iii) identifying and capturing new opportunities in the United States. We are very pleased with our progress in all of these areas,” stated Wes Siemens, Global’s President, “and we look forward to making several announcements on these fronts in the coming months.”
The Company’s current holdings are in Saskatchewan’s famed “helium fairway,” home to most of Canada’s helium reserves and production where helium has been tested and produced in concentrations of over 2% since the 1960’s. Saskatchewan’s original helium discoveries were made pre-1960 as early explorers for oil and natural gas in Saskatchewan found “inert, non-flammable or non-combustible gas,” which turned out to be primarily nitrogen and helium. Helium and nitrogen are both zero carbon, inert, non-combustible gases.
A helium discovery of 2% or more is considered exceptional in North America and compares very favorably to helium that is typically produced concurrently with hydrocarbons, as is the case in Russia and the Middle East, where helium is typically 0.05% to 0.20% of the production stream. When produced in Saskatchewan, helium can be found in substantially higher concentrations and is typically produced without hydrocarbons, making it a highly concentrated, green, zero carbon product that is easier to process and produce.
The additional acreage increases the Company’s total landholdings across all three core areas in Saskatchewan to 621,261 ha (1,535,168 acres) and Global is still actively adding acreage. The Company’s three Canadian core areas provide significant helium prospectivity over a variety of targets and risk profiles.
Core Area One – Swift Current:
Core Area One encompasses over 835,000 acres and is northeast of Swift Current, home to Saskatchewan’s original helium production facility. Large geological structures have been long known to exist in the area and were proposed for helium exploration in 1960. One such formation on Global’s land, the Lawson Structure, shows four-way closure over 17,000 acres and is a potential structural trap for helium. This feature was drilled in 1944 by Imperial Oil and review of the available data shows the well recovered large percentages of nitrogen and “non-combustible gas” – indicating the potential for helium. The Company recently discovered two additional structures, after analysis and interpretation of previous seismic studies (see press release dated October 6, 2023).
Core Area Two – Regina:
Core Area Two encompasses 425,000 acres and is in south-central Saskatchewan, approximately 150 km south of Regina, where there are multiple stratigraphic formations and helium targets. Global’s land flanks that of other helium explorers who have previously announced their intentions to pursue several drilling targets adjacent to the Company’s land. In addition, there are a number of adjacent wells that have tested helium with concentrations ranging from 1.4% to 2.45%. Global’s most recent land acquisition now expands deep into the Williston Basin.
Core Area Three – Montana Border:
Core Area Three encompasses 275,000 acres and is on the Canadian side of the Montana and Saskatchewan border. This attractive acreage sits in the middle of two recent helium discoveries at Eastbrook and Climax, Saskatchewan. High percentage helium tests have been recorded in Montana where significant industry activity is also underway, very close to the Canadian border – and the Company’s significant land holdings.
Wes Siemens added, “We continue to aggressively build Global into one of the largest helium-focused companies in North America. In addition to new land updates, I look forward to updating shareholders on our extensive geoscience program over the coming weeks and months. We are excited to be undertaking such a large geophysical assessment of our three core areas. The combination of multiple technologies will give us the best resolution and information upon which to make technical and operational drilling-focused decisions. This program is expected to produce several drill-ready prospects and we intend to act on them as quickly as possible in 2023.”
ON BEHALF OF THE BOARD OF GLOBAL HELIUM CORPORATION
“Wes Siemens”
Wes Siemens, P.Eng.
President
For more information:
Walter Spagnuolo, Investor Relations
Tel: +1 (877) 816 8163
[email protected]
About Global Helium (CSE: HECO) (OTC: HECOF)
Global Helium is an exploration stage company focused on the exploration, acquisition, development, and production of helium to meet the needs of increasing helium demand and shrinking helium supply in North America and around the world. The Company has a seasoned team of industry professionals and technical experts and has established connections with North American and international helium buyers. Together, the team has captured 100%-owned permits encompassing over 1.5 million acres prospective for helium in Saskatchewan’s well-established helium fairway.
Find out more at: https://globalhelium.com/.
Forward-Looking Statements
No securities regulatory authority has reviewed nor accepts responsibility for the adequacy or accuracy of the content of this news release.
This news release contains forward-looking statements and other statements that are not historical facts. Forward-looking statements are often identified by terms such as “will”, “may”, “should”, “anticipate”, “expects” and similar expressions. All statements other than statements of historical fact, included in this internal announcement are forward-looking statements that involve risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from the Company’s expectations include the failure to satisfy the conditions of the relevant securities exchange(s) and other risks detailed from time to time in the filings made by the Company with securities regulators. The reader is cautioned that assumptions used in the preparation of any forward-looking information may prove to be incorrect. Events or circumstances may cause actual results to differ materially from those predicted, as a result of numerous known and unknown risks, uncertainties, and other factors, many of which are beyond the control of the Company. The reader is cautioned not to place undue reliance on any forward-looking information. Such information, although considered reasonable by management at the time of preparation, may prove to be incorrect and actual results may differ materially from those anticipated. Forward-looking statements contained in this internal announcement are expressly qualified by this cautionary statement. The forward-looking statements contained in this internal announcement are made as of the date of this internal announcement and the Company will update or revise publicly any of the included forward-looking statements as expressly required by applicable law.
