Noble Helium Limited provide an operational update on its exploration activities in Tanzania. The key focus of the Company in 2022 was to advance exploration activities at its flagship North Rukwa Project, with the aim of addressing every structural closure for its helium prospectivity to ensure selection of the two most promising drill candidates in 2023. During the year, the Company systematically completed a series of exploration programs designed to address each component of the helium system of the North Rukwa and understand the basin's potential for primary helium, particularly within its Basin Margin Fault Closures (BMFCs). The new data and study results, combined with the legacy oil and gas exploration data, have confirmed the extraordinary primary helium prospectivity of the North Rukwa area and its potential for a global-scale primary helium resource. Data from the Airborne Gravity Gradiometry, Soil Gas Survey, and 3D seismic, along with geotechnical studies undertaken in partnership with the University of Dar es Salaam, James Cook University and Oxford University are now being incorporated into the Company's PetrelTM based geological model to develop the two best drilling options for 2023. Noble Helium has commenced preparations for the upcoming drilling campaign, with a seasoned drilling manager and team now in place, targeting commencement of drilling in Third Quarter 2023. The Company is fully funded through these drilling preparations and a farmout process is underway, with multiple parties expressing interest. The Company will now carry out a detailed analysis of the North Nyasa SGS data. In combination with the legacy airborne gravity gradiometry and 2D seismic exploration dataset, the Company has a goal to develop a Prospective Resource Estimate in 2023, following the same process that achieved an independently certified unrisked summed mean Helium
Prospective Resource of 176BCF at the Company's North Rukwa Helium Project.