11 June 2025

 Helium One Global Ltd

("Helium One" or "the Company")

Update on Southern Rukwa Mining Licence

Helium One Global (AIM: HE1), the primary helium explorer in Tanzania with a 50% working interest in the Galactica-Pegasus helium development project in Colorado, USA, provides the following update on the current status of the award of the Mining Licence in Tanzania.

Highlights

·    Negotiation of Regulatory Framework Agreements being finalised

·    Government free carried interest agreed at 17%

·    Joint Venture company to be incorporated as Songwe Helium Ltd

·    Execution of all documents and formal award of Mining Licence ("ML") to be completed shortly

James Smith, Non-executive Chairman of Helium One, commented:

"This is a pivotal period in the Company's increasing maturity and growth. The last 18 months has seen exceptional progress as we have met a series of challenges with vigour and professionalism. Getting to this point would not have been possible without the continued support from the Government of Tanzania and I would like to take this opportunity to thank them as well as the local communities where we operate who have helped us and enabled us to deliver this project. 

 I think it is a testament to the Company, that we are the first to receive a mandate to develop helium in Tanzania, and I look forward to being able to provide further successes as we develop this strategic project."

Lorna Blaisse, CEO of Helium One, commented:

"We are delighted to have concluded negotiations and reached agreement with the Tanzanian Government Negotiations Team on all documents and associated agreements that are required to complete the formal award of the ML for the southern Rukwa helium project.

This is the culmination of several years of intense activity and hard work that has included the drilling of several successful exploration wells, the discovery of helium resources, undertaking an extended well test and the filing of the ML application in September last year. The speed with which the formal application and grant process has occurred is a testament to the relationship we have built with the Tanzanian Government, and I would like to extend my heartfelt thanks to the Mining Commission and also the Ministry of Minerals for all of their invaluable support.

My thanks are also extended to the Company staff and contractors who have contributed and worked so diligently on this project and I look forward to further success as we develop this unique project."      

Details

Background

The Company received an offer letter from the Mining Commission ("MC") in Tanzania for the grant of a 480 km² ML for the southern Rukwa Helium Project (as announced 3^rd March 2025). This was subsequently accepted, and the Company has since paid the initial annual rent of approximately US$960,000.

Following negotiations with the Tanzania Government Negotiations Team ("GNT"), agreement has now been reached on the Government back-in percentage and all of the documentation required in order to conclude the formal ML award process is being completed.    

Joint Venture Company

The establishment of a joint venture company is also currently being concluded. The joint venture company is to be named Songwe Helium Ltd ("Songwe") and 83% of the issued share capital will be owned by the Helium One (through a subsidiary undertaking) and 17% by the Government of Tanzania.

The board of Songwe will consist of five members, three of which will be appointed by the Company and two by the Government. 

Governing Documents

The negotiation of all relevant agreements has been concluded and these comprise a Regulatory Framework Agreement, a Shareholders' Agreement, the Memorandum and Articles of Association of Songwe and a jointly agreed economic model.   

The Company is currently waiting for final approvals and the names of the Government-nominated directors of Songwe and upon notification, the executable versions of all documents will be prepared, and it is expected that a formal signing ceremony will then occur.

The Company is in the process of determining the next steps in the development programme and will announce these as well as the date of the signing ceremony as soon as possible.  

Relinquished Prospecting Licenses

On 1^st June 2025 Prospecting Licenses PL 11135/2017 and PL 11136/2017 expired. In light of the remoteness of these licences and the fact that they both partially offshore, the Company has decided not to seek further renewal.

For further information please visit the Company's website: www.helium-one.com   

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Contact

Notes to Editors

Helium One Global, the primary helium explorer in Tanzania with a 50% working interest in the Galactica-Pegasus helium development project in Colorado, USA. The Company holds helium licenses within two distinct helium project areas, across two continents. With an expanding global footprint, the company has the potential to become a strategic player in resolving a supply-constrained helium market.

The Company's flagship southern Rukwa Project is located within the southern Rukwa Rift Basin in south-west Tanzania.  This project entering a full appraisal and development stage following the success of the 2023/24 exploration drilling campaign, which proved a helium discovery at Itumbula West-1 and, following an extended well test ("EWT"), successfully flowed 5.5% helium continually to surface in Q3 2024.

Following the success of the EWT, the Company filed a Mining Licence ("ML") application with the Tanzania Mining Commission in September 2024. The 480km² ML has now been offered to the Company and was officially accepted in March 2025.

The Company also owns a 50% working interest in the Galactica-Pegasus helium development project in Las Animas County, Colorado, USA. This project is operated by Blue Star Helium Ltd (ASX: BNL) and has successfully completed a six well development drilling campaign in H1 2025. The completion of the development programme is a key component of the broader Galactica-Pegasus development strategy; aimed at progressing the helium and CO₂ discoveries to near-term commercial production.

This programme has seen a systematic approach to developing the extensive Lyons Formation reservoir. The programme has delivered encouraging results, in line with expectations, consistently encountering good helium (up to 3.3% He) and CO₂ concentrations in the target formation and demonstrating promising flow potential. The next steps will see the Galactica wells tied into initial production in Q4 2025.

Helium One is listed on the AIM market of the London Stock Exchange with the ticker of HE1 and on the OTCQB in the United States with the ticker HLOGF.