Helium Evolution updates Grasslands drilling plans, board

Helium Evolution Incorporated said it and partner North American Helium Inc. have completed 170 km² of 3D seismic interpretations across the Grasslands project in southern Saskatchewan and agreed on an initial set of bottom-hole drilling locations. North American Helium is now advancing surface-location permitting for up to 10 wells, with the earliest anticipated drilling start in January 2027.

For retail investors watching the stock, the immediate change is that the project has moved one step further along the permitting and planning path, but the company said the total number of wells will still depend on final drilling licences and winter rig availability. Helium Evolution said it will give more detail on timing and scope once permitting is complete.

The company also said changes to its board took effect immediately. Philip Hughes and Michael Graham resigned as directors, and Anton du Plessis joined the board.

Helium Evolution described du Plessis as a senior corporate finance professional with about 30 years of experience, including work as chief executive and board member of a public lithium company, and said he previously held senior roles at several international investment banks. Chair James Baker thanked Hughes and Graham for their contributions and said du Plessis would strengthen the board as the company moves into its next phase of growth.