helium, the primary helium explorer in Tanzania with a 50% working interest in the Galactica-Pegasus helium development project in Colorado, USA, is pleased to provide the following update on its southern Rukwa Helium Project in Tanzania.

The offer letter of the ML is an achievement for the Company, following the discovery at Itumbula West-1 last year. The ML application, which was submitted in September 2024, was accompanied by a feasibility study which outlines the potential of the helium resource in southern Rukwa.

Following approval from the MoM, the MC were able to allow the full 480km  which was applied for, and which is significantly larger than a standard ML area for conventional mining practices. The MoM and MC recognise that the helium potential in southern Rukwa is geologically unique given the gas in solution play, and that the Company has identified extensive faulting mechanisms and fracture networks and by including these in the ML area, it provides the Company with the best opportunity to fully leverage the helium potential.

The offer letter and terms are now under detailed review by the Company and further announcements will be made in due course.

This historical moment, for both the Company and for Tanzania, is the first ML to be offered for helium in Tanzania and also the first of such a significant size. I would like to express my appreciation to the Ministry of Minerals and the Mining Commission for their support of this application and project, and for entrusting the Company in paving the way for this flagship commodity sector in-country. I would like to thank the Helium One team who have worked so hard on this and to all our shareholders for their continued support,” commented Loran Blaisse, Chief Executive Officer.