Pulsar Helium acquires 1,360 acres for $2.4M at Topaz project in Minnesota 

Pulsar Helium (TSXV: PLSR) (OTCQB: PSRHF) announced Friday that it has acquired approximately 1,360 acres of surface land in Lake County, Minnesota, within its flagship Topaz project. 

Topaz, located in Lake County near Babbitt in northern Minnesota, is Pulsar’s 100%-owned flagship project and one of the leading primary helium discoveries in the US, it said.  

The surface land was purchased in an arm’s length transaction from Wolf Lands Inc. for total cash consideration of $2.48 million. The newly acquired land lies within the mineral rights that the company holds under lease from a separate private owner, and the area includes the location of its Jetstream #7 well, Pulsar said.  

Securing direct surface ownership across a key area of the Topaz project, including the JS#7 well site, further strengthens long-term operational control as Pulsar advances toward production readiness, the company said, adding that control of the surface land provides greater certainty for future infrastructure siting, development planning and operational flexibility. 

Concentration of acreage footprint provides optimal scalability of the initial and overall resource development. 

“This Acquisition, driven by our intention to develop Topaz into a significant primary helium producer, builds on growing momentum at the project as we move decisively toward production readiness, Pulsar CEO Thomas Abraham-James said in a news release.  

“It also follows recent legislative progress updating Minnesota’s permitting framework for helium extraction,” Abraham-James said. “With a clearer pathway now emerging toward future production, securing ownership of the surface land overlying our leased mineral rights…provides Pulsar with increased operational control and long-term development certainty as we continue advancing Topaz toward production.” 

The company recently concluded its Jetstream exploration and appraisal program, with all wells drilled to date having encountered gas under high pressure and is now obtaining quotes for the drilling of up to four new production wells to supplement two production-ready wells already drilled, it said.  

The news follows significant regulatory progress in Minnesota, where on May 26, Governor Tim Walz signed into law new legislation establishing a helium-specific framework for gas resource development in northeastern Minnesota, and the Minnesota Department of Natural Resources issued proposed expedited permanent rules for permitting gas resource development on May 18. 

These developments come amid a sharp tightening of global helium supply, driven by disruption to the Strait of Hormuz, attacks on QatarEnergy’s Ras Laffan facilities, Qatar supplies approximately 35% of the world’s helium, and new Russian export controls in place through the end of 2027, the company said.