10:56 AM EST, 02/12/2025 (MT Newswires) -- Helium Evolution ( HEEVF ) on Wednesday announced "significant progress" on its ongoing helium exploration activities along the Mankota helium fairway, "which holds considerable promise".

In an operations update, HELI said its partner North American Helium has completed drilling operations at a key joint well, the '5-30 Well'. It added North American Helium will complete, test and evaluate the well in the coming weeks to confirm the presence of helium and evaluate commerciality of the potential helium discovery.

HELI provided an update on drilling. Within that it said operations on the 12-29 Well must cease by February 22, 2025, due to environmental restrictions in the area.

Greg Robb, President and CEO, in Wednesday's statement said: "We are committed to advancing our development efforts and believe the results from the 5-30 Well are critical to moving towards our ultimate goal of helium production.

Its shares were at last look down $0.01 at $0.195 amid losses for the broader market.

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