SASKATOON, SK, June 14,
2023 /CNW/ - Royal Helium Ltd. (TSXV: RHC)
(OTCQB: RHCCF) ("Royal" or the "Company") is pleased
to announce that the initial modules of the Steveville Helium
Processing Facility have started shipping to site. Rangeland
Trucking and Cranes of Airdrie, Alberta began shipping the initial two modules
to site from Arjae Design Solutions' fabrication facility,
approximately 475 kilometers (295 miles) from Steveville, on
June 13th. The site
preparation for the first two modules has been completed with the
balance of site preparation to be completed by end of week. The
remainder of the modules will ship over the next several weeks.
Andrew Davidson, President &
CEO of Royal states "This is an exciting day for all stakeholders
who have been involved with Royal over the past few years. This is
a significant milestone for the Company as we approach first
production."
Royal will continue to provide updates as the shipping and
installation continues.
Steveville Helium Processing Plant
The Steveville
plant is designed to process 15,000,000 cubic feet/day of raw gas
fed by the two 100% owned helium wells at Steveville, Alberta and produce 22,000 mcf of 99.999%
helium per year. The engineered life of the plant is 25 years while
both wells are expected to remain on stream for a minimum of 9
years. The plant will also produce enough fuel gas to power the
plant and up to 22,000,000 pounds of commercial CO2, which provides
for a potentially significant secondary cash flow stream to
Royal.
About Royal Helium Ltd.
Royal is an exploration,
production, and infrastructure company with a primary focus on the
development and production of helium and associated gases. The
Company controls over 1,000,000 acres of prospective helium permits
and leases across southern Saskatchewan and southeastern Alberta. Given the current and foreseeable
global undersupplied nature of this critical and non-renewable
product, Royal is well positioned to be a leading North American
producer of this increasingly high value commodity.
Royal's helium reservoirs are carried primarily with nitrogen.
Nitrogen is not considered a greenhouse gas (GHG) and therefore has
a low GHG footprint when compared to other jurisdictions that rely
on large scale natural gas production for helium extraction. Helium
extracted from wells in Saskatchewan and Alberta can be up to 90% less carbon intensive
than helium extraction processes in other jurisdictions.
Andrew Davidson
President and Chief Executive Officer
Royal Helium Ltd.
CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING
INFORMATION
Neither TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or
accuracy of this news release.
This news release includes certain statements that may be
deemed to be "forward-looking statements". All statements in news
this release, other than statements of historical facts, that
address events or developments that management of the Company
expects, are forward-looking statements, including, the Company's
intended use of the net proceeds of the Offering. Although
management believes the expectations expressed in such
forward-looking statements are based on reasonable assumptions,
such statements are not guarantees of future performance, and
actual results or developments may differ materially from those in
the forward-looking statements. The Company undertakes no
obligation to update these forward-looking statements if
management's beliefs, estimates or opinions, or other factors,
should change. Factors that could cause actual results to differ
materially from those in forward-looking statements, include market
prices, exploration and development successes, continued
availability of capital and financing, and general economic, market
or business conditions. Please see the public filings of the
Company at www.sedar.com for further information.
SOURCE Royal Helium Ltd.