Royal Helium Ltd. announced that its wholly-owned subsidiary, Imperial Helium Corp. ("Imperial"), has agreed to acquire a significant new project located in the vicinity of the Company's Steveville asset in southern Alberta from an arm's-length private company (the "Vendor"). Pursuant to the terms of a purchase and sale agreement among Royal, the Vendor and Imperial (the "Purchase and Sale Agreement") Imperial has now exercised its sole and exclusive one-time option to purchase the Asset pursuant to the terms of a revised seismic review and option to purchase agreement between Imperial and the Vendor.

Royal's geological and engineering team has determined that the newly acquired land in Alberta holds significant potential for high flow rate helium enriched gas in the Cambrian and Devonian horizons in at least two structures identified in the acquired and reprocessed 2D seismic. Royal has plans for an initial drill program for the fall/winter season of 2023. Details will be provided once the program is finalized.

The Asset includes the entire right, title, estate and interest to drill, explore, and produce as well as all surface rights and records not in the public domain.