Pulsar Helium (TSXV:PLSR) has gained exclusive rights to explore about 488,090 gross acres of Keweenaw Land Association mineral holdings under a three-year Option to Lease Non‑Hydrocarbon Gas Agreement that starts 31 March.
The acreage, combined with a prior 5,742-acre acquisition, is now consolidated as the Falcon Project.
Under the Option Pulsar Michigan must spend at least US$1m on exploration over three years and may pay up to ~US$580,000 to maintain the Option. A staged acreage-surrender schedule requires Pulsar to reduce the area (25-75% by year one, plus a further 25% by year two) before selecting a final development lease of up to 20,000 net acres. Exercise at any time during the term would convert the Option into a definitive lease with per‑acre payments and royalties to KLA.
The Option covers non‑hydrocarbon gases including helium‑4, helium‑3, carbon dioxide and hydrogen. Keweenaw Land Association holds over 1.3 million acres of mineral rights across Michigan and northern Wisconsin.
Pulsar points to its Topaz Project record, a "100% technical well success rate and confirmed high‑grade helium concentrations including rare helium‑3", as the operational template for Falcon.
"This agreement with Keweenaw Land Association marks a transformative step for Pulsar and for our Falcon Project in Michigan," said Thomas Abraham‑James, CEO
