JXSN#4 FLOWS HELIUM (6.5% He) TO SURFACE GALACTICA/PEGASUS - Seite 2

Table 1: Key results from recent Galactica/Pegasus wells

Key parameter

JXSN#1

JXSN#2

JXSN#3

Helium concentration (%)

1.98

3.14

2.14

Gas column in Lyons formation (ft)

217.5

101+

230

Net pay in Lyons formation (ft)

143.5

101

153.5

Stabilized initial flow rate (mcfd)

412

202

412

JXSN#4 is located approximately 1.7 miles to the northwest of the JXSN#1 helium discovery well. The JXSN#4 location was strategically selected to provide the structural and stratigraphic control and reservoir gas composition (6.5% He) for the planned offsetting development wells shown on the map below and announced on 15 September 2022.

This ASX Announcement has been authorised for release by the Board of Blue Star Helium Limited.

About Blue Star Helium:

Blue Star Helium Ltd (ASX:BNL) is an independent helium exploration and production company, headquartered in Australia, with operations and exploration in North America.  Blue Star's strategy is to find and develop new supplies of low cost, high grade helium in North America. For further information please visit the Company's website at www.bluestarhelium.com

About Helium:

Helium is a unique industrial gas that exhibits characteristics both of a bulk, commodity gas and of a high value specialty gas and is considered a "high tech" strategic element.  Due to its unique chemical and physical qualities, helium is a vital element in the manufacture of MRIs and semiconductors and is critical for fibre optic cable manufacturing, hard disc manufacture and cooling, space exploration, rocketry, lifting and high-level science.  There is no way of manufacturing helium artificially and most of the world's reserves have been derived as a by-product of the extraction of natural hydrocarbon gas.