Helium Evolution Announces Most Recent Farmout Well Encounters Helium - Completion and Testing Proceeding

CALGARY, Alberta, Jan. 23, 2024 (GLOBE NEWSWIRE) -- Helium Evolution Incorporated (TSXV:HEVI) ("HEVI" or the "Company"), a Canadian-based helium exploration company focused on developing assets in southern Saskatchewan, is pleased to announce that its partner, North American Helium Inc. (“NAH”), has successfully completed drilling and casing of the farm-out well located at 9-35-3-9W3 (“Test Well Area #1”). NAH was responsible for 100% of the drilling costs for Test Well Area #1. Going forward, any joint operations involving Test Well Area #1 will be shared by NAH and HEVI at an 80% and 20% ratio, respectively. NAH and HEVI plan to complete, test and evaluate Test Well Area #1 in the coming weeks to verify the presence of helium and assess commerciality of this potential helium discovery, and will keep investors updated on progress.

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