Royal Helium Signs Term Sheet for Project Financing

In accordance with the term sheet, an initial draw on the facility in the amount of USD $10 million will be advanced to the Company upon closing, which is anticipated to occur on or about December 12, 2022. Jeff Sheppard, the Chief Financial Officer of Royal states, "This project financing, once closed, covers the remaining costs for the Alberta processing plant, allowing Steveville to begin helium deliveries to our off-take partners by April 2023. Completion of the credit facility and issuance of the warrant consideration is subject to execution of a definitive agreement and TSX Venture Exchange and regulatory approvals.Royal controls over 1,000,000 acres of prospective helium land across southern Saskatchewan and southeastern Alberta. With stable, rising prices and limited, non-renewable sources for helium worldwide, Royal intends to become a leading North American producer of this high value commodity. These forward-looking statements are subject to numerous risks and uncertainties, certain of which are beyond the Companys control, including without limitation, risks associated with oil and gas exploration, development, exploitation, production, marketing and transportation, loss of markets, volatility of commodity prices, volatility in production rates, environmental risks, the ability to procure services and materials necessary to complete the Climax processing plant at the cost and within the timeline anticipated by the Company, inability to obtain drilling rigs or other services, capital expenditure costs, including drilling, completion and facility costs, unexpected decline rates in wells, wells not performing as expected, delays resulting from or inability to obtain required third party and regulatory approvals, ability to access sufficient capital from internal and external sources, inability to access gas transportation and processing infrastructure, the impact of general economic conditions in Canada, the United States and overseas, industry conditions, changes in laws and regulations (including the adoption of new environmental laws and regulations) and changes in how they are interpreted and enforced, increased competition, the lack of availability of qualified personnel or management, fluctuations in foreign exchange or interest rates, and the uncertainty of estimates and projections of production, costs and expenses.