HELIX RESOURCES LIMITED — Capital/Financing Update 2005

Nov 30, 2005

1 December 2005

Manager Company Announcements Office Australian Stock Exchange Limited 10^th Floor. 20 Bond Street SYDNEY NSW 2000

HIGHWAY NICKEL PROJECT - HELIX 25%

Helix Resources Limited ("Helix") is pleased to announce that agreement has been reached with Heron Resources Limited ("Heron") for the sale of Helix's 25% equity in the Highway Lateritic Nickel Project.

Consideration for the purchase totals \$610,000 and will be settled by a combination of \$150,000 in cash and \$460,000 in shares. The shares will be in one or more ASX listed companies, to be agreed between Helix and Heron.

Yours sincerely

Riccardo Vittino Chief Operating Officer

FOR FURTHER INFORMATION CONTACT ROB MOSIG OR RIC VITTINO ON (08) 9321 2644