Project Update at the Flagship Rudyard Project

13 October 2025

Helix Exploration PLC("Helix Exploration" or "Helix" or the "Company")

Project Update at the Flagship Rudyard Project

Helix Exploration, the helium exploration and development company with near-term production assets within the 'Montana Helium Fairway', is pleased to provide an update on its flagship Rudyard project as it progresses towards first helium gas production.

Highlights:

· Mobilisation of the PSA plant to site is due to commence this week

· All insurance is now complete and ready for the first helium gas production

· The Helium PSA plant has been fully tested and is ready for production

· Site preparation and construction of the custom-built housing facilities are 100% complete

· Final key components of PSA are scheduled to arrive in November 2025

· The first helium production is anticipated to commence shortly after the final components arrive on site in November 2025

· Helix is in advanced discussions with multiple industrial gas companies regarding off-take arrangements and the Company will provide further updates in due course

· As announced on 10 September 2025, the Company plans to perforate the upper Souris River formation at Inez #1. Recompletion activities are scheduled to re-commence once a workover unit becomes available, which is expected within the next few weeks.

Bo Sears, CEO of Helix Exploration, commented: "We are delighted with the progress Helix has made over the past six months as we enter the final phase before becoming the first producer of its kind in the State of Montana. The pace at which the team has executed this phase of the Rudyard project is a real testament to their professionalism and commitment. Achieving this level of progress so soon after listing is an exceptional accomplishment. We are excited about the opportunities that production presents for the Company and remain focused on maintaining this momentum through the remainder of 2025, into 2026, and beyond."

Project Update

Progress at the Company's flagship project in the Rudyard field, Montana, continues to advance with multiple workstreams for production nearing completion.

Construction of the Company's main asset, the PSA plant, has now been completed. The plant was assembled by Wikota Design & Construction LLC ("Wikota") at their plant in Houston. A Helix representative has inspected and approved the PSA plant for transport, and it is now being prepared for shipment by truck to the Rudyard site.

On site in Montana, the PSA plant will be housed in our fully completed, custom-built plant facility. Instillation of the membrane and PSA will be conducted by a team of engineers from Wikota, with support from Nu Wave Services of Havre, Montana who have overseen the assembly of key components, including the gathering system, membranes, and electrical and gas supply.

Once the helium compressor unit, which is scheduled for delivery in November 2025, arrives at the site, the final connection process will begin. This is expected to be a two-week process to install and then bring the plant online.

Commercialisation

The Board has a clear strategy to deliver long term value for Helix shareholders as it enters this pivotal stage for the Company. The Board are in discussions with multiple industrial gas companies regarding potential offtake contracts. The Company will update the market accordingly once a contract has been signed with the selected partner. 

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.

Enquiries

Helix Exploration

Cairn - Nominated Adviser

Hannam & Partners - Joint Broker

Camarco - Financial PR

Notes to Editors

Helix Exploration is a helium exploration company focused on the exploration and development of helium deposits within the 'Montana Helium Fairway'. Founded by industry experts with extensive experience of helium systems in the US, the Company listed in April 2024.

Helix is focused on production at its Rudyard Project in northern Montana, taking advantage of existing infrastructure and low-cost processing to target first gas in 2025. The Company has four production wells targeting up to 236ft Helium / Nitrogen gas in the Souris and Red River formations, flowing up to 3,800 Mcf/day at 1.2% helium. Rudyard field can support multiple production wells and has potential to generate net revenue of $115 - $220 million over a 12.5 year life of field.

Helix is committed to open and transparent communication with investors and the wider market as the project progresses through development into production.

"Our approach is simple: build scale efficiently, develop resources strategically, and deliver near-term cash flow." CEO - Bo Sears

The Company's Admission Document, and other information required pursuant to AIM Rule 26, is available on the Company's website at https://www.helixexploration.com/.

Caution regarding forward looking statements

Certain statements in this announcement, are, or may be deemed to be, forward looking statements. Forward looking statements are identified by their use of terms and phrases such as ''believe'', ''could'', "should" ''envisage'', ''estimate'', ''intend'', ''may'', ''plan'', ''potentially'', "expect", ''will'' or the negative of those, variations or comparable expressions, including references to assumptions. These forward-looking statements are not based on historical facts but rather on the Directors' current expectations and assumptions regarding the Company's future growth, results of operations, performance, future capital and other expenditures (including the amount, nature and sources of funding thereof), competitive advantages, business prospects and opportunities. Such forward looking statements reflect the Directors' current beliefs and assumptions and are based on information currently available to the Directors.