First Helium Inc. provided an update on operating activities at its Worsley property. The conversion of a previously abandoned well bore to a water disposal well, along with necessary equipment installation and modifications to its Worsley Oil Battery, has been successfully completed. The project, which was designed to reduce operating costs and enable optimized production at the Worsley Oil Battery, is ready to be put into operation pending final regulatory approval of the Company's water disposal scheme.

Earlier this year, the Company applied for and successfully received approval from the Alberta Energy Regulator to convert a previously abandoned well bore to a water disposal well. The Company performed the operation in its second quarter and is diligently working through the requisite regulatory process to receive final approval to commence operations and begin realizing the commercial benefits of the project. Management estimates that total operating costs will be reduced by over 50% at the Worsley Oil Battery upon start-up of the disposal operation.