05 March 2026  

Helium One Global Ltd

("Helium One" or the "Company")

Galactica Project Update

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 ("the Galactica Project"), provides an update following the Blue Star Helium (ASX: BNL) ("Blue Star" or "Operator") announcement issued today regarding the Galactica Project.

Operator Reported Highlights

•   Amine unit now operational and removing CO₂ from the inlet gas stream and providing a helium-enriched gas stream to the Helium Recovery Unit ("HRU"). The HRU is now filling the onsite tube trailer with refined helium for sale under established spot-market arrangements

•   The operational team is continuing to optimise plant settings, operating pressures and flow rates to ensure peak recovery efficiency

Integrated Operations and Helium Loading Reported by the Operator

Following the commissioning of the amine unit, the Operator has advised that the Pinon Canyon Plant has commenced integrated operations. Raw gas is now being processed through the amine unit to remove CO₂, with the resulting helium-enriched stream being refined through the HRU before being pumped into the tube trailer.

The Operator reports that a significant commercial milestone has been reached with the plant currently filling a tube trailer with refined helium gas for sale under established spot-market arrangements. While the facility is now fully integrated and producing, the Operator is continuing to optimise plant settings to maximize recovery efficiency as production volumes ramp up.

The State-9 and State-16 wells are tied in and on production, alongside the Phase 1 Jackson-31 and Jackson-29 wells. Whilst the Jackson-4 well was previously tied in as part of the Phase 1 programme, it is temporarily offline for a rental compressor change-out. Jackson-2 is now tied into the gathering system and awaiting well site compression and monitoring before being brought on production. The tie-in of Jackson-27 remains scheduled to coincide with CO₂ sales.

The Operator reports that CO₂ liquefaction from the amine unit remains on track before the end of H1 2026.

Following optimisation of the plant settings, the Operator's focus will turn to optimising the existing wells and gathering system flows and planning and permitting additional wells.

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

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 and the 480km² ML was formally awarded to the Company in July 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 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 initial Galactica wells were tied into first gas in Q4 2025, with further wells coming onstream in 2026 for both helium and CO₂ production.