Helium Evolution Incorporated (TSXV: HEVI | OTCQB: HEEVF) has announced a significant milestone at its Grasslands project in southern Saskatchewan, confirming alignment with partner North American Helium Inc. on 3D seismic interpretation and up to 10 initial drilling targets. The company also disclosed changes to its Board of Directors, with two resignations and one new appointment effective immediately. Investors may be watching closely as the earliest anticipated drilling commencement is January 2027, subject to permitting and rig availability.

Key Points

  • Helium Evolution Incorporated (TSXV: HEVI | OTCQB: HEEVF) is a Calgary-based helium exploration company focused on southern Saskatchewan assets
  • HEVI and partner North American Helium Inc. have agreed on up to 10 initial bottom hole drilling locations at the Grasslands project following completion of 170 km² 3D seismic interpretations
  • Earliest anticipated drilling commencement is January 2027, pending final drilling licences and winter rig availability
  • Board changes include the resignations of Philip Hughes and Michael Graham, and the appointment of Anton du Plessis, a senior corporate finance professional with approximately 30 years of experience

Grasslands 3D Seismic Work Completed, Permitting for Up to 10 Wells Now Underway

Both HEVI and North American Helium Inc. have each independently completed their 170 km² 3D seismic interpretations across the Grasslands project, and the two partners have agreed on an initial set of bottom hole drilling locations. North American Helium, which operates the project, is now advancing the surface location permitting process for up to 10 wells. The company stated that the earliest anticipated drilling commencement is January 2027, with the total number of wells to be drilled remaining subject to final drilling licences and winter drilling rig availability. HEVI stated it will provide additional details once permitting is complete.

CEO Malcolm Adams Calls Seismic Alignment a Meaningful Milestone

In the announcement, President and CEO Malcolm Adams described the agreement with North American Helium on the Grasslands 3D seismic interpretation and 10 initial drilling targets as "a meaningful milestone for HEVI." Adams added that the company looks forward to supporting North American Helium as the permitting process advances. The release does not include additional operational or financial guidance beyond what has already been disclosed regarding the drilling programme's timing and scope.

Board Reshuffle Brings Corporate Finance Expertise to HEVI

Effective immediately, Philip Hughes and Michael Graham have resigned from HEVI's Board of Directors. Anton du Plessis has been appointed to replace them, bringing approximately 30 years of corporate finance experience, including prior service as CEO and board member of a public lithium company, as well as senior roles at several international investment banks. Board Chair James Baker acknowledged the contributions of both departing directors, noting Hughes's governance leadership and Graham's technical oil and gas expertise, before welcoming du Plessis's capital markets background.