VANCOUVER, British Columbia, May 29, 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 a significant increase in business opportunities has led to the establishment of a satellite office in Denver, CO to manage regional operations in Utah and to further facilitate the expanded activities of the Company.
The recent rebranding and shift from the previous Bruin Point company name, was undertaken to demonstrate a new mission, vision, goals and activities at and beyond its singularly important Utah holdings. While the previous name referenced a geological outcrop in Utah close to the Company’s property, the name of American Helium ushers in a new era for the Company and reflects the strategic plan to expand operational reach and activity.
As part of the increased activity, the Company has executed a project agreement with Yankee Resources LLC of Golden, CO and has appointed LoneTree Energy & Associates LLC to acquire certain acreage in SE Colorado. The project consists of two parts. The immediate objective is to redrill two wells that have proven helium resources and were plugged and abandoned in the mid-nineties, offering the potential for near term production.
The second part of the project will offer an exploration focus through the acquisition of land and a subsequent 3D seismic survey aimed at further defining areas of likely helium accumulations.
In related news, the Company reports that as part of its commitment to increased efforts in the region that Frank Jacobs, American Helium President & CEO has relocated to Denver to more effectively drive operations.
For more information about American Helium, please visit www.amerihelium.com and follow us on Twitter or LinkedIn and like our Facebook page.
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 southeast Carbon County, Utah and 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.
Tel: 604.685.9316
Email: info@amerihelium.com
Nick DeMare, Director
Email: nick@amerihelium.com
Curtis White
Email: curtis@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.