Mendell Helium (AQSE: MDH) Final results for the period ended 31 March 2025

Final results for the period ended 31 March 2025

M3 Option Extension

Notice of AGM

Mendell Helium is pleased to provide the Company’s audited results for the period ended 31 March 2025.

As announced on 27 June 2024, the Company has an option to acquire M3 Helium Corp. (“M3 Helium”), a producer of helium based in Kansas and with an interest in six wells.  There is no certainty that the Company’s option to acquire M3 Helium will be exercised, nor that the enlarged group will successfully complete its re-admission to trading on the AQSE Growth Market.

Highlights in the Chairman’s and CEO’s statements include:

·    Plans to admit to trading on AIM remain on track and will follow production commencing at M3 Helium’s Rost 1-26 well (“Rost”)

·    Positive developments at Rost with increasing visible gas shows

·    Operations continuing at the Jasper well in Nebraska following earlier weather delays and equipment difficulties

·    Extension of date on which our option to acquire M3 Helium must be exercised to 30 November 2025

The Company’s annual report and accounts for the year ended 31 March 2025 and notice of annual general meeting (“AGM”) were posted on 30 September 2025 to Mendell Helium’s shareholders.  The AGM will be held at 10.30 am on Thursday 30 October 2025 at Edinburgh Printmakers, Castle Mills, 1 Dundee Street, Edinburgh, EH3 9FP.

Copies of the annual report and accounts and notice of AGM are available on the Company’s website:  https://www.mendellhelium.com

This announcement contains inside information for the purposes of the UK Market Abuse Regulation and the Directors of the Company are responsible for the release of this announcement.

Nick Tulloch, Chief Executive Officer of Mendell Helium and Chairman of M3 Helium, said: “We are pleased to publish our annual report for the year ended 31 March 2025 but we know that investors will be particularly interested in looking forward to production commencing at Rost and our planned admission to AIM.  These events are, as we have said before, linked.  Both Mendell Helium and M3 Helium believe that the time to move to AIM is when Rost’s helium production is substantively underway.  At that point, M3 Helium would anticipate being capable of generating significant revenue from that well which we hope would correspond to investor interest in Mendell Helium.

“Operations at Rost are proceeding very satisfactorily.  As expected, removal of water is visibly increasing gas flows which are evident now both at the well head itself and in the interruption of water flowing from the well into the storage tanks on site. I am also pleased to confirm that M3 Helium has secured the lease of a tube trailer which will be used to deliver production to the off-taker and, whilst the well is de-watered, M3 Helium is progressing the commissioning of the PSA and the gas connections to enable the trailer to be filled at the well head.  M3 Helium remains optimistic about the opportunity that Rost is developing and, importantly, the operation continues to attract interest from other industry partners.

“Our preparations for AIM itself are also proceeding satisfactorily with all documentation well advanced.  We have today extended the date on which our option to acquire M3 Helium must be exercised to 30 November 2025 but this should not be read as a target date for admission to AIM, since the target we have set ourselves is to ensure that all steps for moving to AIM should be completed by the time Rost starts delivering helium to the off-taker and, judged on this metric, we consider that all processes are on track.”

ENDS

Engage with the Mendell Helium management team directly by asking questions, watching video
summaries and seeing what other shareholders have to say. Navigate to our Interactive Investor
website here: https://mendellhelium.com/s/a6a55a

This announcement contains inside information for the purposes of the UK Market Abuse Regulation and the Directors of the Company are responsible for the release of this announcement.

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