Royal Helium Ltd. (TSXV: RHC) (TSXV: RHC.WT) (OTCQB: RHCCF) ("Royal" or the "Company") is pleased to announce that it has entered into an agreement with a syndicate of investment dealers led by Cormark Securities Inc. (collectively the "Underwriters"), to increase the size of its previously announced bought deal public offering of units. The Company will now issue 26,925,000 units (the "Issued Units") of Royal at a price (the "Offering Price") of $0.26 per Issued Unit, for gross proceeds to the Company of approximately $7 million (the "Offering").

Royal has granted to the Underwriters an option to purchase additional units, equal to 15% of the number of Issued Units sold pursuant to the Offering at the Offering Price, for market stabilization purposes and to cover over-allotments for a period expiring 30 days after the date of closing.

The net proceeds of the Offering will be used to fund engineering and design costs associated with the Company's production plant planned for Steveville, completion and exploration activities on the Company's lands and for general corporate purposes.

Closing is expected on Oct 13, 2022 and is subject to TSX Venture Exchange and other necessary regulatory approvals.

Royal controls over 1,000,000 acres of prospective helium land in southern Saskatchewan and southern Alberta. All of Royals' lands are in close vicinity to highways, roads, cities and importantly, close to existing oil and gas infrastructure, with a significant portion of its land in close proximity to existing helium producing locations. 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.

This press release shall not constitute an offer to sell or solicitation of an offer to buy the securities in any jurisdiction. The common shares and the warrants will not be and have not been registered under the United States Securities Act of 1933 and may not be offered or sold in the United States absent registration or applicable exemption from the registration requirements.