HELIOS ENERGY LTD — Director's Dealing 2011

Jul 17, 2011

Level 1, 33 Ord Street West Perth, Western Australia 6005 Australia

Telephone: +61 8 9420 9300 Facsimile: +61 8 9481 2690

18 July 2011

ASX Compliance Pty Limited Level 8 Exchange Plaza 2 The Esplanade PERTH WA 6000

Attention: Farlee Walker - Senior Adviser, Listing (Perth)

Dear Farlee

NEW HORIZON MINERALS LTD - APPENDIX 3Y

I refer to the Company's announcement lodged with ASX Ltd ("ASX") on 18 July 2011 regarding a change of director's interest notice for Mr Gary Steinepreis, Mr Patrick Burke and Mr Robert Hodby ("Appendix 3Y's").

1. Please explain why the Appendix 3Y's was lodged late.

Due to an administrative error, the Company had not prepared the Appendix 3Y's in relation to the non-renounceable entitlement issue of options completed on 9 June 2011. This error was identified today and the Company immediately prepared and lodged the Appendix 3Y's.

2. What arrangements does the Company have in place with its directors to ensure that it is able to meet its disclosure obligations under listing rule 3.19A?

The Company has written agreements in place with each of its Directors in the form of Attachment 1 to Guidance Note 22 dealing with Director Disclosure of Interests.

Each of the Company's Directors are aware of their obligations to inform the Company where there is a change in their notifiable interest.

3. If the current arrangements are inadequate or not being enforced, what additional steps does the Company intend to take to ensure compliance with listing rule 3.19B?

The current arrangements are adequate and the Chairman has instructed the Company Secretary to ensure that he and each of the Directors are reminded of and fully understand their disclosure obligations under ASX Listing rule 3.19A.

The Company apologises for this late lodgement.

Yours sincerely

G Steineprin

Gary Steinepreis Director

ASX Markets Supervision Ptv Ltd

ABN 26 087 780 489 Level 8, Exchange Plaza

Telephone 61 8 9224 0000 Facsimile 61 8 9221 2020

2 the Esplanade Perth WA 6000

PO Box D187 Perth WA 6840

www.asx.com.au

18 July 2011

Mr Gary Steineprels New Horizon Minerals Ltd Level 1 33 Ord Street WEST PERTH WA 6005

By Facsimile: 08 9481 2690

Dear Gary

New Horizon Minerals Limited (the "Company")

Appendices 3Y - Director's Interest Notices.

We refer to the following:

The Appendices 3Y lodged by the Company with ASX Limited ("ASX") on 18 July 2011 for Gary Steinepreis, Patrick Burke and Robert Hodby and

• $\mathbf{1}$ . Listing rule 3.19A which requires an entity to tell ASX the following:
• $3.19A.1$ The notifiable interests of a director of the entity (or in the case of a trust, a director of the responsible entity of the trust) at the following times.
  • On the date that the entity is admitted to the official list. $\bullet$
  • On the date that a director is appointed.

The entity must complete Appendix 3X and give it to ASX no more than 5 business days after the entity's admission or a director's appointment.

• 3.19A.2 A change to a notifiable Interest of a director of the entity (or in the case of a trust, a director of the responsible entity of the trust). The entity must complete Appendix 3Y and give it to ASX no more than 5 business days after the change occurs.
• $3.19A.3$ The notifiable interests of a director of the entity (or in the case of a trust, a director of the responsible entity of the trust) at the date that the director ceases to be a director. The entity must complete Appendix 3Z and give it to ASX no more than 5 business days after the director ceases to be a director.
• $2.$ Listing rule 3,19B which states as follows.

An entity must make such arrangements as are necessary with a director of the entity (or in the case of a trust, a director of the responsible entity of the trust) to ensure that the director discloses to the entity all the information required by the entity to give ASX completed Appendices 3X, 3Y and 3Z within the time period allowed by listing rule 3.19.A. The entity must enforce the arrangements with the director,

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The Companies Update dated 27 June 2008, reminding listed entities of their obligation to notify ASX 3. within 5 business days of the notifiable interests in securities held by each director and outlining the action that ASX would take in relation to breaches of listings rules 3.19A and 3.19B.

As the Appendices 3Y indicate changes in Director's interests for Mr Steinepreis, Mr Burke and Mr Hodby on 8 June 2011 it appears as though that the Appendices 3Y should have been lodged with ASX by 16 June 2011.

As a result of these matters, the Company may be in breach of listing rules 3.19A and/or 3.19B.

Please note that ASX is required to record details of breaches of the listing rules by listed companies for its reporting requirements.

ASX reminds the Company of its contract with ASX to comply with the listing rules. In the circumstances ASX considers that it is appropriate that the Company make necessary arrangements to ensure there is not a reoccurrence of a breach of the listing rules.

Having regard to listing rules 3.19A and 3.19B and Guidance Note 22: "Director Disclosure of Interests and Transactions in Securities - Obligations of Listed Entities", we ask that you answer each of the following questions.

• 1. Please explain why the Appendices 3Y were lodged late.
• $\overline{2}$ . What arrangements does the Company have in place with its directors to ensure that it is able to meet its disclosure obligations under listing rule 3.19A?
• 3 If the current arrangements are inadequate or not being enforced, what additional steps does the Company intend to take to ensure compliance with listing rule 3.19B?

Your response should be sent to me by facsimile on facsimile number (08) 9221 2020. It should not be sent to the Company Announcements Office.

A response is requested as soon as possible and, in any event, not later than 5:00pm W.S.T on Wednesday, 20 July 2011.

Under listing rule 18.7A, a copy of this query and your response will be released to the market, so your response should be in a form suitable for release and must separately address each of the questions asked. If you have any queries or concerns, please contact me immediately.

Yours sincerely,

$\overline{\phantom{a}}$

Farlee Walker Adviser, Issuers (Perth)

$\mathbf{I}$