Imperial Helium Corp. announced positive results from IHS Markit’s independent production test analysis of the IHC-Steveville-2 well (103/10-22-020-12W4) and the Company’s intention to spud a third well in the fourth quarter of 2021. The results of IHS Markit’s pressure transient analysis from the “blow-out” zone in 103/10-22-020-12W4 meet and exceed expectations, with very good porosity, high permeability, and the capability to drain, at a minimum, four square miles of reservoir. IHS Markit’s analysis is consistent with results from the blow-out well 100/13-22-020-12W4. More specifically, the reservoir in 103/10-22 is over pressured with a P of 2,433 psia, a porosity of 15%, a permeability of 60 to 80 milli-Darcies, and an Absolute Open Flow of 22.6 mmcfd. Furthermore, the 103/10-22 well is capable of a sustained production rate between 5 to 8 mmcfd at a surface pressure of 1,000 psi with less than a 15% sandface drawdown for a minimum of three years before decline. Importantly, these results are on point with the Company’s guidance to have a production facility with a throughput capacity of 10 mmcfd of raw gas from two-wells on stream in the fourth quarter of 2022. Imperial Helium also announces that it is proceeding with drilling another well in the Steveville structure this fall. This appraisal/development well targets a local high on the Steveville structure between IHC-Steveville-2 and IHC-Steveville-1, and will twin an existing well, 16-11-020-12W4. There is a strong positive correlation between IHC-Steveville-2 and 16-11-020-12W4, and the Company anticipates comparable results to IHC-Steveville-2. Imperial Helium’s Steveville 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 land leased from Heritage Royalty Resource Corporation covering 24,635 hectares (95 square miles), 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 100/13-22-020-12W4, which, owing to a mechanical failure on surface, resulted in the Steveville blow-out. Production testing reported six million cubic feet a day (6MMCf/d) of non-burnable gas, dominantly nitrogen. Four subsequent wells, drilled exploring for hydrocarbons, 08-22-020-12W4 (1947), 14-11-020-11W4 (1953), 16-11-020-12W4 (1974), and 01-24-020-11W4 (2002) confirm the structure. Imperial Helium acquired seismic to provide an improved understanding of the structure, and has drilled two appraisal wells, IHC-Steveville-2 (103/10-22-020-12W4) and IHC-Steveville-1 (102/03-01-020-12W4), to define the resource potential on the Steveville structure. IHC-Steveville-2 confirms the presence of producible gas in the Steveville structure with a Helium concentration of 0.43%.