VANCOUVER, May 25, 2018 /CNW/ - 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 it has filed official notification of intent regarding its upcoming workplan activities in Utah.
As part of the expansion of operations at the Company's Utah acreage, American Helium is undertaking preparations for the drilling of an exploration well, and as part of that process a Notice of Staking (NOS) has been filed with the offices of the Bureau of Land Management (BLM).
A Notice of Staking (NOS) is effectively a public announcement which precedes a 30-day public comment period during which interested parties are invited to participate. Upon completion of the comment period, the Company has 10 days to undertake an on-site inspection with personnel from the BLM field office located in Price, Utah. The field inspection identifies and defines the need for any additional environmental or related studies and provides key information to refine and clarify cost estimations relative to site preparations for the drilling equipment.
The Company will provide updates as events unfold and looks forward to mobilizing the drill equipment as part of its ongoing 2018 workplan.
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.
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.