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Noble Helium Advances at its Mbelele Prospect and North Rukwa

Noble Helium's quarterly update highlighted the progress made at the Mbelele Prospect and western North Rukwa. Through a fully georeferenced Petrel subsurface model, Noble visualises the Helium System elements in the correct sequence to host helium. Charge modeling by the University of Oxford predicts the presence of gas-phase helium and nitrogen in these areas, bolstering confidence for their upcoming drilling program. Additionally, the analysis of 3D seismic data from BGP over the "String of Pearls" on the eastern side is expected to provide further valuable insights. Independent modeling reveals the Neogene sediments of the Rukwa Basin's high porosity, enhancing the prospects for helium extraction. These advancements offer promising prospects for helium exploration in the region. Noble ended the quarter with a cash balance of A$4mm. : The Company recently raised A$13.5mm (two tranches - A$7.8mm in June 2023 and A$5.7mm in July 2023, shares yet to be issued for second tranche) and is confident it will be able to continue to raise as required upon satisfactory exploration results.

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