Imperial Helium Corp. confirmed that drilling has commenced on the Company’s second future producing helium well on the Steveville Structure, IHC-Steveville-3 at 12-12-020-12W4. Following receipt of the well license for the Company’s second future producing helium well, IHC-Steveville-3 (12-12-020-12W4) was spud on December 6th. To date, IHC has drilled two wells, IHC-Steveville-1 and IHC-Steveville-2, which have further defined the geological structure and validated the superior reservoir quality that was first encountered by the Steveville Discovery Blow-out well in 1940. With an improved understanding of the Steveville Structure provided by previously drilled well data, log analysis of existing wells, and seismic interpretation of area geology, IHC selected the location for IHC-Steveville-3. The well is being drilled on a second structural high point, similar and connected to the original Steveville Discovery Blow-out. IHC plans to drill IHC-Steveville-3 to a total depth of approximately 1,680 metres over an estimated 20 to 22 days, taking into account the Christmas holiday. The IHC-Steveville-3 well will twin the existing 16-11-020-12W4 well, originally drilled in 1974. The formation characteristics of the identified production interval in the 16-11 well strongly parallel those found in IHC-Steveville-2 well, enhancing the probability for success. Subsequent to drilling, logging and casing of IHC-Steveville-3, expect to proceed with a minimum of two production tests, in multiple zones, over an eight-to ten-week period. The IHC-Steveville-2 well will be first producing well once brought on-stream, which is anticipated by the end of 2022. Independent production test analysis indicates that IHC-Steveville-2 is capable of producing 5-8MMcf/d, at sustained rates, for more than three years. Based on this analysis, after three or more years, anticipate the well would exhibit normal natural decline rates of approximately 15% annually over a 15-plus year field life. IHC is also in the process of securing an offtake agreement, which will represent another critical milestone on IHC’s path to producing commercial volumes of helium before the end of 2022, further details of which will be provided as agreements are finalized. IHC’s Steveville Structure property is situated over a large basement dome feature with four-way closure. The property is approximately 200Km east of Calgary and 40Km northeast of Brooks where highways 544/876 cross the structure, providing easy access for drilling and development. The property includes 24,635 hectares (95 square miles) of land leased from Heritage Royalty Resource Corporation, with rights for natural gas (including helium) below the base of the Big Valley and Nisku formations. In the winter of 1940, the first deep well to be drilled in the area was 13-22-020-12W4, which, owing to a mechanical failure on surface, resulted in the ‘Steveville blow-out’. Four subsequent wells that were drilled exploring for hydrocarbons, 08-22-020-12W4 (1947); 14-11-020-11W4 (1953); 16-11-020-12W4 (1974) referenced above; and 01-24-020-11W4 (2002) confirming both the Steveville Structure and the Steveville East Structure. IHC has acquired 3-D seismic to provide an improved understanding of the basement structure.