Amongst highest Helium purities ever reported at 20% to 25%, extensive regional Hydrogen and Helium play and international first to see initial Helium and Hydrogen concentrations at surface with increasing concentrations and strong indications of high Helium purities.

Highlights:

Hydrogen and Helium concentrations at surface. The Company understands that this has not been achieved before, and would be an international first for a non-petroleum system.
Helium concentrations in gas at standard conditions extracted from water, with third-party interim laboratory results of up to 20% to 25% purity (50,000 times the concentration in the atmosphere) and which is among the highest reported. Testing is ongoing.
There is current and historical evidence that confirms the presence of both Natural Hydrogen and Helium in numerous locations across PEL 687 (per Figure 1).
Initial Stage 2 exploration testing shows very promising and increasing purities of both Natural Hydrogen and Helium being detected at surface as the Ramsay 1 and 2 wells are dewatered. (Refer Figure 2 for Hydrogen in the Ramsay 2 well).
The acquisition phase of the Ramsay 2D seismic program is completed, and initial results show the data to be suitable for selecting future well locations on a regional basis for the ongoing drilling program.
In conjunction with our Australian advisors, Gold Hydrogen and Mizuho (a leading global Japanese Bank) have signed a non-binding MOU to establish a framework for the development of their relationship, including the consideration of future advisory assignments and the cooperative promotion of Natural Hydrogen and Helium usage. Mizuho has a number of Japanese energy industry clients with global operations that are interested in a range of issues associated with the discovery, usage and ESG / sustainability benefits of Natural Hydrogen and Helium.

Gold Hydrogen Managing Director, Neil McDonald said: “We successfully continue our efforts to confirm that potentially extensive quantities of both Natural Hydrogen and Helium in world class purities exist over only a portion of this permit, and we believe this will be extended to larger portions of our permitted area as outlined in the historical data. To have an initial world first to see Hydrogen and Helium to surface is very exciting for our further ongoing exploration and drilling programs in even better locations. Our results to date only confirm the global interest our project has been receiving, and why we are very proud to be working with Mizuho Bank with their global clients’ interests in both Natural Hydrogen and Helium.”

The Directors of Gold Hydrogen Limited (Gold Hydrogen, ASX: GHY, the Company) are pleased to provide the following operational and commercial update. The Company’s project related activities are currently focused on its groundbreaking Ramsay Project on the Yorke Peninsula, prospective for both Natural Hydrogen and Helium.

Further Detail:

Relationship with Mizuho Securities of Japan

In the last months, the Company attended investor and technical/industry-related conferences in Adelaide, Perth, and Tokyo, Japan.

Mizuho Securities (Mizuho) is a leading global Japanese corporate bank and has been promoting Gold Hydrogen to existing global Japanese Energy companies. The Japanese documentary about Natural Hydrogen, partly filmed in South Australia, and featuring Gold Hydrogen (amongst other industry participants) was released in Japan during the June 2024 quarter. As a result of this documentary, and the Company’s attendance at the Japan Energy Summit, a relationship was established with Mizuho to manage multiple inquiries from Japanese Energy Companies for future investment into Gold Hydrogen and its projects.

Gold Hydrogen and Mizuho have now signed a non-binding MOU to establish a framework for the development of their relationship, including the consideration of future advisory assignments and the cooperative promotion of Natural Hydrogen and Helium usage. Mizuho has a number of Japanese energy industry clients with global operations that are interested in a range of issues associated with the discovery, usage and ESG/sustainability benefits of Natural Hydrogen and Helium.

Early Gas Analysis Results Show High Helium Purity of 20% to 25% – 50,000 Times More Than for Atmosphere

A leading internationally recognized laboratory has reported to the Company its preliminary compositional measurements from gas dissolved in water samples taken from the Helium zone in Ramsay 2, which show Helium levels in the order of 50,000 times the concentration of Helium in the atmosphere. Subject to confirmation in the finalized reports, this would equate to purity levels of 20% to 25% Helium and would be among the highest levels of Helium measured from dissolved gas. Refer Appendix A for Listing Rule 5.30 disclosure requirements.

Status of Ramsay 2D Seismic Survey

The primary objectives of the Ramsay 2D regional seismic program are to assist in the delineation of potential Natural Hydrogen and Helium accumulation(s), and to support the identification of future drilling targets on the Yorke Peninsula. Results from historical well core sample fluid inclusion analysis confirm that both Natural Hydrogen and Helium are present across the Yorke Peninsula and Kangaroo Island (PEL 687) as outlined below in Figure 1.

The data acquisition phase of the Ramsay 2D seismic survey has been completed with 575km of 2D seismic lines recorded. The data is currently undergoing processing.

Once analyzed, the data from the 2D seismic survey, when combined with the Company’s other data sets such as the airborne survey data, soil-gas survey data, historical offset well data, and the Ramsay 1 & 2 drill log data and flow test data, will assist the Company in planning future well locations and well designs.

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Figure 1 – Various Data Points Indicating the Presence of Natural Hydrogen and Helium in PEL 687[/caption]

Commencement of Stage 2 Exploration Well Testing – Ramsay 1 & 2 Exploration Wells

Initial Stage 2 exploration testing results indicate increasing levels for purities of both Natural Hydrogen and Helium are being measured. As depicted in Figure 2 for Hydrogen in Ramsay 2, the shallow Hydrogen zone is showing an increasing trend for daily recorded levels of Natural Hydrogen (corrected for air contamination) at surface. Testing on Ramsay 1 commenced seven days after Ramsay 2, and the Company has been focusing on the Helium zone down hole. The compilation and verification of the data recorded to date is ongoing whilst testing continues.

Ramsay 1 is dewatering the deeper Helium zone, and gas from the produced water in the separator at surface, and the preliminary data to be verified, show significant and increasing purity levels of Helium. Ramsay 2 is dewatering the shallow Hydrogen zone, and results being recorded highlight the increasing levels of Natural Hydrogen (refer blue line in Figure 2) measured from the annulus at surface. Refer Appendix A for Listing Rule 5.30 disclosure requirements.

These are interim results, but they are highly encouraging for the future of the Ramsay Project, as it is likely that future wells to be drilled in more optimal locations will demonstrate the potential for further improved gas flow and/or purity results.

In this phase of testing, we have identified some isolated formation water in several zones of high permeability. We are managing this produced formation water in line with the Environmental Approval Conditions issued by the State Government.

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Figure 2 – Ramsay 2 Testing 200 to 350m Shallow Hydrogen Zone 7 & 8 – Hydrogen concentrations increasing as testing continues as measured from the annulus (corrected for air and Nitrogen contamination)[/caption]

First Key Step on the Journey to Future Commercialisation

The Company is of the view that the Ramsay Project contains significant prospective resources of both Natural Hydrogen and Helium (refer Tables 1 & 2), with large-scale potential that it is aiming to commercialize over time.

There is very little data available for dedicated Hydrogen wells anywhere in the world due to the lack of analogue wells. Accordingly, there is inherent uncertainty with regard to the expected outcomes of the Ramsay 1 and Ramsay 2 exploration well testing program.

To the Company’s knowledge, the only Natural Hydrogen field currently in production is located in Mali, West Africa, where Natural Hydrogen production is used to power the small town of Bourakebougou. It has been reported that the Natural Hydrogen wells in Mali do not have any decline in production and are continually regenerating and producing at the same rate.

Helium is extremely valuable and indicatively, longer-term bulk pricing is expected to approximate USD450 per Mcf (thousand cubic feet).

Natural Hydrogen has a high energy content and extracting it even in small quantities may prove commercial for localized applications. Furthermore, given that Helium was also found within both the Ramsay 1 and Ramsay 2 wells, being able to extract and process both gases in small quantities may provide potential short-term commercial and/or proof of concept opportunities to help progress the Ramsay Project. The Company’s activities to date represent the start of a very exciting technical journey and are not dissimilar to the eventual success of existing world-renowned oil and gas energy projects, which took time to reach their full potential. Results from the testing program will provide the Company with valuable information for future drilling and well completion.

About Gold Hydrogen

Gold Hydrogen is focused on the discovery and development of world-class Natural Hydrogen and Helium gases in a potentially extensive province in South Australia. This region has only recently had its Natural Hydrogen and Helium potential confirmed by the Company via its maiden drilling campaign. The domestic and global demand for Hydrogen and Helium, combined with new exploration techniques and experienced personnel, provides Gold Hydrogen with an extraordinary opportunity to define and ultimately develop a new Natural Hydrogen and Helium gas province.

The combined permit area of the Gold Hydrogen group is approximately 75,332 km². Gold Hydrogen holds one granted exploration license (the Ramsay Project - PEL 687) and its two 100% owned subsidiary companies (White Hydrogen Australia and Byrock Resources) hold an additional seven (7) applications for Natural Hydrogen and Helium exploration within South Australia. Gold Hydrogen is also the preferred applicant for four (4) gas storage exploration licenses applications (GSELA) covering an area of 8,107 km² within the Yorke Peninsula portion of PEL 687 in South Australia. These storage license applications are in addition to the granted exploration license and application licenses.

The group’s permit areas are characterized by low population densities, cooperative stakeholders, and aspects of the natural environment suited to the exploration and development of a future Natural Hydrogen and Helium gas province. Gold Hydrogen places considerable importance on close liaison with landholders, traditional owners, and all other stakeholders, and this approach has led to the grant of its key tenement PEL 687 in South Australia. The Company intends to continue to invest in these efforts.

Further Information

Further information on the Gold Hydrogen group, its projects, and its Board and Management can be found on the Company’s website www.goldHydrogen.com.au together with a copy of the Company’s Replacement Prospectus of 29 November 2022.

Gold Hydrogen Verifies Exceptional Purity Levels of Hydrogen and Helium