First Helium Inc. announced the commencement of drilling its third exploration well, the "14-23" target, which is located on First Helium's 100% owned, 79,000 acre Worsley landholdings in Northern Alberta, Canada. Targeting multiple helium-bearing formations, successful drilling of the 14-23 well will potentially add incremental contingent resource1 volumes to those of the successful 15-25 helium discovery well, which has been independently evaluated. As with the Company's 15-25 helium discovery well, which includes associated volumes of natural gas and natural gas liquids, First Helium intends to produce and market any potential associated surplus hydrocarbon volumes included in future discovery wells to capitalize on the current strong outlook for natural gas and liquids pricing, and maximize cash flow in support of further growth.

First Helium's 79,000 acres along the Worsley Trend is highly prospective for both helium and natural gas. Historical exploration and development drilling on the trend has encountered rich helium concentrations ranging from 0.5% to 1.9% in a number of formations.