HELIX RESOURCES LIMITED — Capital/Financing Update 2016

Jul 5, 2016

6 July 2016

ASX Announcement

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Cobar Gold Drilling Program Finalised

• Helix has finalised a diamond and aircore drilling program on three Prospects at the Cobar Gold Project, NSW

• Diamond drilling will target the structural controls of the high-grade gold at the Good Friday and Boundary Prospects

• A 20 hole aircore drilling program will target a large gold in soil anomaly at the Battery Tank Prospect.

• Previous drilling at the Cobar Gold Project returned significant near surface gold results including:

• Good Friday Prospect: 25m @ 25.5g/t Au and 18m @ 3.2g/t Au¹

• Sunrise Prospect: 21m @ 2.7g/t Au incl. 13m @ 4.2g/t Au and 30m @ 2.2g/t Au²

• Boundary Prospect: 70m @ 1.1g/t Au incl.15m @ 2.3g/t Au²

• A drill contractor has been secured and the drilling program is expected to commence this month

Helix Resources has finalised a diamond and aircore drilling program on three gold Prospects at the Cobar Gold Project in NSW.

At the Cobar Gold Project, several gold prospects have been defined with previous drilling having returned significant near gold surface results at Boundary, Good Friday and Sunrise prospects. The proposed diamond drilling program is designed to achieve a better understanding of the structural controls at the Good Friday and Boundary prospects.

The 20 hole (1,000m) aircore program will be carried out at the Battery Tank prospect, which is a comparatively large gold in auger soil anomaly that remains untested by drilling. The anomaly covers an area of 350m x 500m with historic pits and trenches on the south western edge of the prospect. Aircore drilling will target high-grade gold structures at this prospect.

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Figure 1: Proposed drill locations at Boundary, Good Friday and Battery Tank Gold Prospects

Helix Resources Limited A.C.N. 009 138 738 Incorporated in Western Australia 78 Churchill Ave, Subiaco WA 6008

P: +61 8 9321 2644 F: +61 8 9321 3909 www.helix.net.au

Email: mick.wilson@helix.net.au

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Good Friday Prospect (70% Interest)

The Good Friday Prospect has several 30-50m deep historic shafts and other surface pits present. Previous drilling in 2007 by Helix’s diluting JV Partner intersected spectacular grades beneath one of the historic workings.

These results included 25m @ 25.5g/t Au and 18m @ 3.2g/t Au¹ . Follow-up drilling did not repeat those grades. However a review of the historic records suggests a large volume of material was mined in that vicinity and was backfilled with tailings from a nearby stamp battery. Further assessment of the potential structural controls suggest the high grade shoot remains untested at depth and may have further strike potential beyond the mined area (refer Figure 2). Once the structural control is identified with the current drilling, these zones will be targeted in future drilling.

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Figure 2: Oblique Long-section of Good Friday Prospect illustrating untested potential high-grade shoot

Helix Resources Limited A.C.N. 009 138 738 Incorporated in Western Australia 78 Churchill Ave, Subiaco WA 6008

P: +61 8 9321 2644 F: +61 8 9321 3909 www.helix.net.au

Email: mick.wilson@helix.net.au

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Boundary Prospect (100% Interest)

The Boundary Prospect was a greenfield discovery by Helix based on a robust gold-in-soil anomaly. A fence of three holes 100m apart were drilled across the target in late 2012. The middle hole returned 70m @ 1.1g/t Au, incl. 15m @ 2.3g/t Au². The controls on the mineralisation remained unclear when follow-up drilling returned results up to 5m @ 2.6g/t Au² (refer figure 3). A recent review of the lithologies intersected, suggests the follow-up drilling had not intersected the target lithology. Oriented diamond drilling will provide lithological and structural information at Boundary to better target the gold mineralisation there.

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Figure 3: Cross-section showing gold mineralisation in previous drilling at the Boundary Prospect

Battery Tank Prospect (70% Interest)

The Battery Tank Prospect is a comparatively large gold in auger soil anomaly that remains untested by drilling. The anomaly covers an area of 350m x 500m, with historic pits and trenches on the south western edge of the Prospect. Auger soil sampling has returned a peak value of 179ppb gold, with 18 samples returning better than 50ppb gold from this Prospect. Drilling will consist of a series of aircore fence lines that will target high-grade gold structures in bedrock within the Prospect area.

Sunrise Prospect (70% Interest)

The Sunrise Prospect is defined by a 250m x 500m northwest trending gold in soil anomaly with several historic pits present. Helix completed a series of RC programs over the Prospect in 2010-12 with significant results including 21m @ 2.7g/t Au incl. 13m @ 4.2g/t Au and 30m @ 2.2g/t Au². Sunrise is not planned to be drilled in the current program, however the information derived from the DDH holes at the Good Friday and Boundary Prospects will assist in targeting similar structures at Sunrise in the future.

Helix Resources Limited A.C.N. 009 138 738 Incorporated in Western Australia 78 Churchill Ave, Subiaco WA 6008

P: +61 8 9321 2644 F: +61 8 9321 3909 www.helix.net.au

Email: mick.wilson@helix.net.au

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Figure 4: Location of Cobar Gold Projects - NSW

The potential for high-grade gold deposits on the Cobar Gold Project is very good with the nearby Mt Boppy Gold Mine an example of the systems present in the area. Mt Boppy has a strike of not more than 150m, yet it has produced approximately 500,000oz of gold with an average grade of 10g/t Au.

- ENDS -

For further information:

Mick Wilson Pasquale Rombola Managing Director Chairman mick.wilson@helix.net.au pasquale.rombola@helix.net.au Ph: +61 8 9321 2644 Ph: +61 413 239 630

Competent Persons Statement

The information in this announcement that relates to Exploration Results, Mineral Resources or Ore Reserves is based on information compiled by Mr M Wilson who is a full time employee of Helix Resources Limited and a Member of The Australasian Institute of Mining and Metallurgy. Mr M Wilson has sufficient experience which is relevant to the style of mineralisation and type of deposit under consideration and to the activity which he is undertaking to qualify as a Competent Person as defined in the 2004 Edition of the ‘Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves’. Mr M Wilson consents to the inclusion in the report of the matters based on his information in the form and context in which it appears.

Details of the assumptions underlying any Resource estimations are contained in previous ASX releases or at www.helix.net.au

1 For full details of exploration results refer to ASX announcements dated 25 November 2010. Helix Resources is not aware of any new information or data that materially effects the information in these announcements.

2 For full details of exploration results refer to ASX announcements dated2 February 2011, 24 May 2011, 13 July 2011, 17 August 2011, 4 October 2012. Helix Resources is not aware of any new information or data that materially effects the information in these announcements.

Helix Resources Limited A.C.N. 009 138 738 Incorporated in Western Australia 78 Churchill Ave, Subiaco WA 6008

P: +61 8 9321 2644 F: +61 8 9321 3909 www.helix.net.au

Email: mick.wilson@helix.net.au