Imperial Helium Corp. announced it has completed a successful appraisal of the Steveville structure on its Helium Property, located in Southeastern Alberta. Imperial Helium has completed the production testing of IHC-Steveville-1 and IHC-Steveville-2 as part of its two well appraisal well program of the Steveville structure. IHC-Steveville-2 is a key component of the appraisal, located on the crest of the structure, adjacent to the “blow-out well” at 100/13-22-020-12W4. In IHC-Steveville-2, a 12 meter zone was perforated over an interval equivalent to the “blow-out zone” in the offsetting 13-22 well. The perforated interval tested at a rate of approximately 2mmcf/d through a 14/64 inch choke, at a drawdown of 5% over a period of 5.5 days. Gas analysis confirmed a Helium concentration of 0.43%. The flowing pressure at surface was 1885 psi which continued to increase over the entire flow period. Reservoir temperature was found to be 114.5°F . Liquid was produced at a rate of less than a 1bbl/mmcf. Upon shut-in the pressure build-up was near instantaneous and remained constant through-out the shut-in period, which is indictive of a higher quality reservoir. The IHC-Steveville-1 well was located along the down-dip edge of the structure. Production testing of an interval equivalent to the helium producing intervals in IHC-Steveville-2 and 13-22 produced formation water. The presence and depth of gas in the 13-22 well, but only water in the IHC-Steveville-1 well has defined a narrow 10m interval for a gas/water contact. This result provides with increased confidence in defining the potential producible resources within the structure. Imperial Helium is currently integrating the results of IHC-Steveville-1 and IHC-Steveville-2 into its geological model. The Company has engaged IHS-Markit to conduct an independent pressure transient analysis of the production test data to help establish potential production rates and reservoir extent. Following this, the Company will make a determination of next steps in the development of the project. In addition, the IHS-Markit results along with geological, geophysical, and petrophysical analyses will be forwarded to GLJ for resource certification. As of October 6, 2021, the Company has a cash balance of approximately $6.6 million or $0.077/share. This strong balance sheet gives the company flexibility and the ability to deploy capital towards the continued development of its asset base. In line with the Imperial Helium’s Strategic Alliance Agreement, the Company is in advanced discussions with its EPC partner ON2 solutions for the construction and delivery of a Prototype Plant. This plant is intended to expedite the design of production facilities at Steveville and other opportunities. In addition, Imperial Helium is in discussions with Offtake Partners for the delivery of helium upon first production, currently anticipated to commence from the Steveville property in 2022.