Quantum Helium Advances Sagebrush Stimulation Programme, Aims for Q4 2026 Start

For best results when printing this announcement, please click on link below: RNS Number: 7593V Quantum Helium Limited 22 September 2026 22 September 2026 Quantum Helium Limited ("Quantum" or the "Company") Quantum Advances Sagebrush Stimulation Programme Larger-volume treatment being modelled as Company progresses wider Colorado drilling strategy OTC Markets Quotation to Go Live on 22 September 2026 Under Ticker QHELF Investment and Related Party Transaction Quantum Helium Limited (AIM: QHE) is pleased to provide an update on the next phase of operations at its Sagebrush Project in Colorado, its broader drilling strategy and a strategic non-core investment.

Highlights · IPT Well Solutions has recommended a conventional propped fracture stimulation of the Upper Leadville interval at Sagebrush-1, with a larger-volume treatment now being modelled. · Detailed execution planning is underway, with Quantum targeting commencement of the Sagebrush stimulation programme during Q4 2026, subject to regulatory approvals, service-company availability and normal operational considerations. · The Sagebrush programme forms part of Quantum's broader Colorado development strategy, with further drilling activity across Sagebrush and Coyote Wash being progressed for 2027.

· The Company has received confirmation that its OTC Markets quotation will go live on 22 September 2026 (US Eastern Time), providing increased accessibility for US-based investors. · Quantum has approved a £250,000 strategic non-core investment in Herencia Resources plc, while retaining substantial financial capacity to fund its core exploration and development programme. The Company enters the next phase of development from a strong financial and operational position, with substantial cash resources, a clearly defined technical programme across Sagebrush and Coyote Wash and a pipeline of potential value-creating catalysts over the next 12 to 18 months.

Sagebrush - Next Phase of Development The Company has completed a detailed technical review of the stimulation and completion data from Sagebrush-1 together with its specialist completion adviser, IPT Well Solutions ("IPT"). The objective of this work is to determine the most effective completion approach to improve reservoir connectivity, establish sustainable helium-bearing gas flow rates and assess the productive potential of associated liquids. The review has further refined the Company's understanding of the Upper Leadville Formation and provided a clear technical basis for the next phase of operations.

IPT's review indicates that the mineralogy and organic content of the Leadville Formation may have limited the effectiveness of the previous acid-based treatments, supporting the move to a conventional propped fracture stimulation designed to create sustained conductive pathways into the reservoir. Importantly, analysis of the most recent stimulation data indicates good communication between the wellbore and the formation, which IPT considers favourable for the effective placement of proppant during the next phase of operations. IPT has recommended that the Company proceed with a conventional propped fracture stimulation of the Upper Leadville interval.

Following further technical review, IPT is now modelling a larger-volume treatment, with the final treatment design, proppant volumes and operating parameters to be confirmed as part of the detailed execution programme. The objective of the programme is to establish effective and sustained connectivity between the wellbore and the reservoir by creating a conductive fracture extending away from Sagebrush-1 and improving connectivity with the natural fracture network within the Leadville Formation.

IPT's technical review indicates that interconnection with natural fracture networks can be an important driver of productivity, with the proposed propped fracture designed to improve the potential for connection with those networks. IPT has also noted that, in the absence of clear geological barriers, there is potential for downward fracture growth from the Upper Leadville treatment interval into the Lower Leadville, providing additional potential reservoir contact and potentially more cost effective than a separate stimulation of the Lower Leadville horizon at this stage.

The treatment will be undertaken on a staged basis, enabling the Company and its technical advisers to monitor formation response and make adjustments during operations where appropriate. Subject to regulatory approvals, service-company availability and normal operational considerations, the Company is targeting commencement of the Sagebrush stimulation programme during Q4 2026. Following treatment, Sagebrush-1 is expected to be flowed back and evaluated to assess reservoir response and the productive capability of the Upper Leadville interval.

IPT has recommended that the well be flowed back and placed on artificial lift as soon as operationally feasible following treatment. Wider Colorado Drilling Strategy The Sagebrush stimulation and subsequent flow evaluation represents an important component of Quantum's broader Colorado exploration and development strategy. The technical information generated at Sagebrush-1 will be integrated with the Company's seismic, geological and reservoir data as Quantum progresses planning for further drilling activity across Sagebrush and Coyote Wash during 2027.

The Board's objective is to build progressively on the geological and reservoir knowledge generated across the Company's existing assets and use that information to assist in determining the location, design and sequencing of future drilling activity. Accordingly, the forthcoming Sagebrush stimulation programme is not viewed as a standalone operation. It forms part of a broader development strategy designed to advance the Company's Colorado portfolio through targeted stimulation, evaluation and further drilling.

Progressing the Next Phase of Operations IPT is now progressing the detailed execution design for Sagebrush-1, including revised fracture modelling, completion procedures and engagement with potential stimulation service providers regarding equipment availability.

In parallel, the Company is progressing workstreams across its wider Colorado programme, including: · finalisation of the Sagebrush stimulation and operational programme; · regulatory and operational approvals; · service company engagement and scheduling; · equipment and personnel mobilisation planning; · preparations for subsequent flowback and evaluation at Sagebrush-1; and · ongoing technical and drilling planning across Sagebrush and Coyote Wash for 2027.

Subject to receipt of the necessary regulatory approvals, service-company availability and normal operational considerations, the Company intends to mobilise the required equipment and commence the Sagebrush stimulation programme during the next quarter. The Board believes the combination of the Sagebrush stimulation programme, subsequent well evaluation and further drilling activity being progressed across the Company's Colorado portfolio provides Quantum with a series of meaningful operational catalysts over the next 12 to 18 months.

OTC Markets Update The Company has received confirmation that its OTC Markets quotation will go live on 22 September 2026 (US Eastern Time) under the trading symbol QHELF. The quotation will provide increased accessibility for US-based investors. Strategic Investment in Herencia Resources plc The Company has approved a £250,000 strategic non-core equity investment in Herencia Resources plc ("Herencia", the "Herencia Investment"), an exploration and development company progressing the Great Caesar Gold Project in Queensland, Australia and its proposed return to the London public markets. Carl Dumbrell and Graham Duncan are directors of both Herencia and Quantum Helium.

12% of Herencia's enlarged issued ordinary share capital. 74m. 01 pence. Quantum remains well funded for its core exploration, development, operating and working-capital requirements.

The Board also believes it has a responsibility to manage the Company's cash resources actively and efficiently. The Board's objective for the Herencia Investment is to generate potentially stronger returns on a limited portion of the Company's available cash than would typically be available from conventional bank deposits or term deposits, while retaining substantial funding capacity for Quantum's core activities. Following a review of a number of potential opportunities, Herencia emerged as the Board's preferred investment.

The Board was attracted by the quality and development potential of the Great Caesar Gold Project, Herencia's proposed return to the London public markets and the potential for capital appreciation as the project advances. Carl Dumbrell and Graham Duncan have intimate knowledge of the Great Caesar Gold Project and its development potential, providing the Board with a detailed understanding of the opportunity when assessing the investment.

The £250,000 investment is modest relative to Quantum's overall financial position and, in the Board's view, provides an opportunity to enhance returns from a relatively small portion of the Company's available cash resources while retaining substantial financial capacity for the continued advancement of Sagebrush, Coyote Wash and the Company's other core activities. The investment is non-core to Quantum's principal helium and energy activities and does not represent a change in the Company's principal business or strategy.

As at 31 December 2025 Herencia reported net liabilities of £1,926,000 (current unaudited pro forma net assets are £288,000 before Quantum's proposed investment). Herencia reported a loss of £11,000 for the period to 31 December 2025. 505 million. 54% of that cash balance.

Following review of the Company's forecast expenditure and working-capital requirements, the Board remains satisfied that Quantum retains substantial financial capacity to fund its current exploration, development, operating and working-capital requirements. Related Party Transaction Herencia is classified as a related party of the Company due to the directorships held by Carl Dumbrell and Graham Duncan and accordingly the Herencia Investment constitutes a related party transaction for the purposes of AIM Rule 13 of the AIM Rules for Companies.

The Directors independent of the Extension, being Andrew Scott and Nigel Harvey consider, having consulted with SP Angel Corporate Finance LLP, the Company's nominated adviser, that the terms of the Herencia Investment are fair and reasonable in so far as the Company's shareholders are concerned. Outlook Quantum is entering a significant period of activity, with the next phase of the Sagebrush stimulation programme now moving towards execution alongside the continued progression of the Company's wider Colorado drilling strategy.

The Board believes Quantum's combination of independently assessed helium resources, a growing Colorado development portfolio, strong funding and a clearly defined operational programme provides a strong platform for the next stage of growth.

Reflecting his confidence in the Company's strategy and outlook, following publication of the Company's financial results and subject to receiving the necessary dealing clearance from the Company's Board and satisfying applicable regulatory requirements, Executive Chairman Carl Dumbrell intends to purchase ordinary shares in Quantum in the market Carl Dumbrell, Executive Chairman of Quantum Helium, commented: "Quantum enters this next phase in a very strong position. We are well funded, we have an experienced technical team and, following the detailed work undertaken with IPT, we now have a clear pathway for the next stage of operations at Sagebrush.

"The forthcoming stimulation programme builds directly on the technical information generated from the earlier work at Sagebrush-1. IPT has recommended a conventional propped fracture stimulation and is now modelling a larger-volume treatment designed to establish stronger and more sustained connectivity with the Leadville reservoir. "Importantly, Sagebrush is one part of a broader development strategy across our Colorado portfolio. Alongside the stimulation and evaluation programme, we are progressing technical and drilling plans across Sagebrush and Coyote Wash for 2027, providing the Company with a wider pipeline of potential activity and catalysts.

"Our strong financial position allows us to fully pursue our core operational programme while also managing a limited portion of our cash resources actively and efficiently. The Board's objective is to seek potentially stronger returns on that limited portion of capital than would typically be available from conventional bank or term deposits, while retaining substantial funding capacity for our core activities. "We believe Herencia represents an attractive opportunity for capital appreciation and, importantly, the investment does not alter our core strategy or focus.

"With Sagebrush moving towards execution, our wider Colorado drilling strategy progressing and substantial financial resources available to us, we believe Quantum has a significant programme of potential catalysts ahead. " Market Abuse Regulation (MAR) Disclosure The information contained within this announcement is deemed by the Company to constitute inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014 ('MAR') which has been incorporated into UK law by the European Union (Withdrawal) Act 2018. Upon publication via Regulatory Information Service ('RIS'), this information is now in the public domain.

Enquiries: Quantum Helium Limited NOMAD and Joint Broker Carl Dumbrell SP Angel Corporate Finance LLP Chairman Stuart Gledhill / Richard Hail / Adam Cowl +44 (0) 20 3470 0470 Brand Communications Joint Broker Alan Green CMC Markets UK Plc Tel: +44 (0) 7976 431608 Douglas Crippen +44 (0) 020 3003 8632 Joint Broker CREST Corporate Broking Jerry Keen / Robert Bell Tel: +44 (0) 203 973 3678 Updates on the Company's activities are regularly posted on its website: Notes to editors Quantum (AIM: QHE) explores, develops and produces helium, hydrogen and hydrocarbons, with projects in the United States and Australia.

The Company targets opportunities that can generate operating cash flow and offer development upside while continuing exploration. Its portfolio includes several US projects and Australian royalty interests. This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom.

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