SASKATOON, SK, June 14,
2022 /CNW/ - Royal Helium Ltd. ("Royal" or the
"Company") (TSXV: RHC) (TSXV: RHC.WT) (OTCQB: RHCCF) is pleased to
announce that it has received the final results on its seismic
program at Val Marie. The program,
which consisted of 35 kilometers of both newly acquired and
purchased trade data has identified a series of large structural
features, from which Royal has selected its initial drill target as
well as five additional high priority targets. The initial well at
Val Marie has been permitted and
is scheduled to spud on July 10,
2022.
Stephen Halabura, Royal's VP
Exploration states, "The initial seismic program at Val Marie went exactly as planned. The data
recovered from the new seismic shoot was of exceptionally high
quality and the interpretation of this data by our partners at RPS
Energy Services, along with the integration of the existing trade
data that we acquired, clearly demonstrates the highly prospective
nature of the Val Marie project
area."
The Val Marie project is
located in Southwest Saskatchewan
and consists of claims totalling 13,000 hectares. The project lies
in the heart of the Bowdoin Dome feature which has hosted both
historic and current helium production.
Appointment of Mr. Martin Wood to Board of Directors
Royal is also pleased to announce the addition of Mr.
Martin Wood to the Company's board
of directors. Mr. Wood is a resource industry professional, serving
as the Chairman of Altona Rare Earths Limited and the former Chief
Executive Officer of Kogi Iron Limited, Mr. Wood is also the
founder and Managing Director of Vicarage Capital Limited, which is
a Financial Conduct Authority registered, full-service brokerage
house in the United Kingdom. Prior
to this, Mr. Wood worked in resource finance for NM Rothschild
& Sons Limited, Standard Bank (London) Limited, London and Benfield Advisory, providing
services to resource companies. To make room for the addition of
Mr. Wood to the Company's board of directors, Mr. Tom MacNeill will step down. The board of
directors would like to thank Mr. MacNeill for his years of service
to the Company.
Andrew Davidson, President, and
CEO, adds, "The addition of Martin
Wood to the board of directors strengthens our growing
global presence. With deep professional experience in the resource
industry and the capital markets in the United Kingdom, Martin's representation on the
board of directors is welcome as our exposure outside of
Canada and the United States grows and our projects
continue to move forward."
About Royal Helium Ltd.
Royal controls over 1,000,000 acres of prospective helium land
in southwestern and south-east Saskatchewan. All of Royals' lands are in
close vicinity to highways, roads, cities and importantly, close to
existing oil and gas infrastructure, with a significant portion of
its land in close proximity to existing helium producing locations.
With stable, rising prices and limited, non-renewable sources for
helium worldwide, Royal intends to become a leading North American
producer of this high value commodity.
CAUTIONARY STATEMENT REGARDING
FORWARD-LOOKING INFORMATION
Neither TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release.
This news release includes certain statements that may be
deemed to be forward-looking statements or forward-looking
information under applicable Canadian securities legislation
(together, the "forward-looking statements") that may not be based
on historical fact, including without limitation, statements
containing the words "believe", "may", "plan", "will", "estimate",
"continue", "anticipate", "intend", "expect", "potential" and
similar expressions. Forward-looking statements are necessarily
based on estimates and assumptions made by management of the
Company in light of our experience and perception of historical
trends, current conditions and expected future developments, as
well as the factors we believe are appropriate.
All statements in this news release, other than statements of
historical facts, that address events or developments that
management of the Company expects, are forward-looking statements.
Forward-looking statements include but are not limited to
statements relating to: the spudding of the initial well at
Val Marie, the prospective nature
of the Val Marie area and the
commencement of drilling at Val
Marie.
Although management believes the expectations expressed in
such forward-looking statements are based on reasonable
assumptions, such statements are not guarantees of future
performance, and actual results or developments may differ
materially from those in the forward-looking statements. The
Company undertakes no obligation to update these forward-looking
statements if management's beliefs, estimates or opinions, or other
factors, should change. Factors that could cause actual results to
differ materially from those in forward-looking statements, include
market prices, exploration and development successes, continued
availability of capital and financing, and general economic, market
or business conditions. Please see the public filings of the
Company at www.sedar.com for further information.
SOURCE Royal Helium Ltd.