HELIX RESOURCES LIMITED — Capital/Financing Update 2016

Apr 3, 2016

==> picture [193 x 52] intentionally omitted <==

ASX Announcement

4 April 2016

Cobar Gold Project - Exploration to Recommence

• Helix is recommencing exploration on its highly prospective gold project located in the Cobar Mining District in NSW.

• Helix’s tenements have the potential to host high-grade deposits similar to the nearby Mt Boppy Gold Mine (Historic Production 500,000oz @ 10g/t gold).

• Previous drilling has 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 recent geological review of the Company’s Cobar Gold assets has identified a series of untested drill ready targets and new areas prospective for high-grade gold.

Helix Resources is pleased to advise that a recent geological review of the Company’s Cobar Gold assets has identified a series of drill ready targets and new areas prospective for high-grade gold.

The Company controls over 300km² of gold prospective ground in the Cobar District (refer Figure 1). The projects host numerous historic shafts and pits mined in the early 1900’s. Previous drilling has identified significant gold mineralisation at three prospects being Good Friday, Sunrise and Boundary Prospects. The early stage drilling, mostly targeting beneath old workings and surface geochemistry has returned the significant results.

==> picture [428 x 290] intentionally omitted <==

Figure 1: Location Map of Cobar Gold Tenements

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

==> picture [193 x 52] intentionally omitted <==

The potential for high-grade gold deposits on the Cobar Gold Projects 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.

Within the Helix gold prospects identified to date, high grade controls are not well understood. During a detailed geological review, a series of drill targets have been identified with the plan to carry out oriented diamond drilling to test these possible controls. The aim is to clearly define the structural controls of highgrade gold within the broader gold mineralised envelopes at each prospect.

Good Friday Prospect:

The Good Friday Prospect has several 30-50m deep historic shafts and other surface pits present. Previous drilling in 2007 by our 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 could 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). These zones are priority targets for drilling.

==> picture [465 x 326] intentionally omitted <==

Figure 2: Oblique Longsection 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

==> picture [193 x 52] intentionally omitted <==

Sunrise Prospect:

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 (refer figure 3) . The gold is hosted in sediment and appears to be associated with the porous coarser units. The structural controls of the high-grade and extensions to the system at depth remain untested and are a priority target for drilling.

==> picture [440 x 293] intentionally omitted <==

Figure 3: Type-Section through the Sunrise Gold Prospect

Boundary Prospect:

The Boundary Prospect was a greenfield discovery based on a 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 only returned results up to 5m @ 2.6g/t Au² (refer figure 4). A recent review of the lithologies intersected, suggests the follow-up drilling had not intersected the target lithology. Additional drilling is planned.

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

==> picture [193 x 52] intentionally omitted <==

==> picture [426 x 283] intentionally omitted <==

Figure 4: Section from Boundary Prospect

Regionally, the project areas have been subject to various rounds of soil sampling and an aeromagnetic survey. However, large robust gold-in-soil anomalies remain untested by drilling. In addition to the series of priority targets within the known prospects, new areas will be worked-up with extensional and infill soil auger geochemistry.

==> picture [363 x 257] intentionally omitted <==

Figure 5: Regional soil geochemistry on detailed aeromagnetics

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

==> picture [193 x 52] intentionally omitted <==

- 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