VANCOUVER, British Columbia, June 06, 2018 (GLOBE NEWSWIRE) -- American Helium Inc. (the “Company” or “American Helium”) (TSX.V:AHE) (OTC:AHELF) (XFRA:43UB), a resource exploration company focused on the global growth of technology-driven demand for helium, is pleased to report that it has has executed an agreement with Holbrook Basin Energy LLC of Golden, CO (HBE) to undertake an exploration drill program in Arizona.
The Arizona project location is in the “Four Corners” area where the States of Utah, Colorado, New Mexico and Arizona meet, and in the prolific helium productive Holbrook Basin, a well-established helium production district where concentrations of the gas range from trace amounts up to 10%. The area has good potential for additional discovery and production. Helium content is generally considered to be of commercial interest when the concentration is above 0.3% (Casey, 1983, p. 749). The abundant nature of the region has led to anecdotal statements over the years that “Arizona is the Saudi Arabia of helium.”
HBE has developed a compelling exploration play of interest to the Company, and expanded lease negotiations are underway. Based on available data, American Helium intends to drill an exploration well on a recently identified target proximal to successful analogous wells in the area.
Along with its property in Carbon County, Utah and the recent May 29th announcement regarding an exploration project agreement with Yankee Resources for a helium prospect in SE Colorado, today’s announcement represents a significant increase in operational planning which will be regionally managed as a result of the Company’s recent decision to open an office in Denver to more readily and efficiently service field operations across it’s rapidly growing western U.S. areas of activity.
For more information about American Helium, please visit www.amerihelium.com.
About American Helium (TSX.V:AHE) | (OTC:AHELF) | (XFRA:43UB)
American Helium Inc. is an exploration stage company with offices in British Columbia, Canada and Denver, Colorado. The Company is currently exploring for helium in Carbon County, Utah, SE Colorado and Navajo County, Arizona while evaluating additional potential acquisitions in known Helium productive regions. With planned exploration well(s) due in 2018, holding potentially significant helium resources positions American Helium to capture an opportunity offered by rising global helium prices due to growing demand for helium driven by new technology-based applications. American Helium Inc. is listed on the TSX Venture, OTCQB and Frankfurt markets.
Contact
American Helium Inc.
Operations Office, Denver
Office: 303-285-3396
Cell: 720-238-4761
Frank Jacobs, Director, President & CEO
Email: frank@amerihelium.com
Corporate Activity and Administration
Tel: 604.685.9316
Email: info@amerihelium.com
Nick DeMare, Director
Email: nick@amerihelium.com
Neither the 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.
Forward-Looking Statements
Certain information contained in this press release constitutes “forward-looking information", within the meaning of Canadian legislation. Generally, these forward-looking statements can be identified by the use of forward-looking terminology such as "is expected", "intends", or “has the potential to”. Forward looking statements contained in this press release may include statements regarding the future operating or financial performance of American Helium that involve known and unknown risks and uncertainties which may not prove to be accurate. Actual results and outcomes may differ materially from what is expressed or forecasted in these forward-looking statements. Such statements are qualified in their entirety by the inherent risks and uncertainties surrounding future expectations. The forward-looking statements included in this press release are made as of the date of this press release and the Company disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as expressly required by applicable securities legislation.
Prospective Resources are defined as “those quantities of petroleum estimated, as of a given date, to be potentially recoverable from undiscovered accumulations by application of future development projects. Prospective resources have both an associated chance of discovery and a chance of development. Prospective Resources are further subdivided in accordance with the level of certainty associated with recoverable estimates assuming their discovery and development and may be sub-classified based on project maturity.” There is no certainty that any portion of the resources will be discovered. If discovered, there is no certainty that it will be commercially viable to produce any portion of the resources. The Low Estimate represents the P90 values from the probabilistic analysis (in other words, the value is greater than or equal to the P90 value 90% of the time), while the Best Estimate represents the P50 and the High Estimate represents the P10.