HELIX RESOURCES LIMITED — Capital/Financing Update 2017

Aug 22, 2017

ASX Announcement

23 August 2017

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Drilling Continues to Expand Gold Camp at the Cobar Gold Project

• Reverse Circulation (RC) drilling at the Cobar Gold Project has continued to expand near-surface gold mineralisation in this emerging gold camp.

• New gold intercepts have expanded the known prospects (both along strike and at depth), identified further gold structures and highlighted additional gold systems at the regional prospects.

• Results from prospects tested in the program include:

Battery Tank: 23m @ 2.0g/t Au from 26m, incl. 5m @ 3.1g/t Au.

Good Friday: 4m @ 5.0g/t Au within 38m @ 0.8g/t Au from surface & 15m @ 1.0g/t Au from 12m

Sunrise: 2m @ 5.6g/t Au & 9m @ 1.9g/t Au within 32m @ 1.0g/t Au from 8m; 7m @ 2.5g/t Au from 95m Boundary: 5m @ 2.6g/t Au within 20m @ 0.9g/t Au from 7m; 11m @ 1.1g/t Au from 108m to EOH Reward: 4m @ 2.5g/t Au within 20m @ 1.1g/t Au from 16m

Key Points

• Drilling continues to demonstrate broad zones of gold mineralisation, including multiple stacked goldbearing structures.

• Gold mineralisation has been intersected in fresh rock (approx. 80-120m from surface) in depth extensions of known gold-bearing structures.

• A new gold-bearing structure has been identified at the Reward Prospect with 20m @ 1.1g/t Au from 16m, incl. 4m @ 2.5g/t Au, intersected 70m southeast of the historic workings. This new target is located on a major regional lineament and remains open in all directions.

• Potentially economic, near surface gold intercepts have been returned at five prospects and all have potential to continue at depth.

• The Cobar Gold Project is located 35km southeast of the Peak Gold mining operation, and is very well positioned within the infrastructure rich district.

• Helix’s Cobar Gold Project is one of the most significant recent greenfield gold discoveries in the district, a region renowned for long-life and depth extensive gold and base metal deposits.

Helix Resources Limited (ASX:HLX) ( Helix or the Company ) is pleased to advise that the recent RC drilling program at the Cobar Gold Project has continued to expand the footprint of near-surface gold mineralisation.

The drilling program consisted of a total of 30 holes for 3,600m using two RC drill rigs across six prospects.

New gold intercepts identified during recent drilling have expanded the known prospects both along strike and at depth. The drilling has also identified further gold structures and highlighted the potential for additional gold systems at regional 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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Highlights from drilling at the prospects include:

• Battery Tank Prospect: 23m @ 2.0g/t Au from 26m, incl. 5m @ 3.1g/t Au (continues to demonstrate the broad gold-bearing systems at this emerging prospect).

• Good Friday Prospect: 4m @ 5.0g/t Au within 38m @ 0.8g/t Au from surface & 15m @ 1.0g/t Au from 12m. (confirms presence of northeast trending structures at Good Friday).

• Sunrise Prospect: 2m @ 5.6g/t Au & 9m @ 1.9/t Au within 32m @ 1.0g/t Au from 8m; 7m @ 2.5g/t Au from 95m (fresh). (confirmation of perpendicular structures and depth extensions into fresh rock).

• Boundary Prospect: 5m @ 2.6g/t Au within 20m @ 0.9g/t Au from 7m; 11m @ 1.1g/t Au from 108m (mineralised to EOH).

• Reward Prospect: 4m @ 2.5g/t Au within 20m @ 1.1g/t Au from 16m (a gold-bearing structure at a new prospect).

Managing Director Mick Wilson commented : “ The Cobar Gold Project continues to be one of the most encouraging greenfield gold discoveries in the Cobar District. We continue to enhance our understanding of the nature and geometry of these gold systems. The results from this year’s exploration programs, our proximity to operating mines and the fact that all our discoveries start from, or near to surface, collectively have boosted our confidence in the potential of this emerging gold project ”.

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Figure 1: Goldfield Prospect Plan, showing gold in soil anomalies and current program RC drill collar locations.

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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Central Gold Prospects

A program of 23 RC drill holes was undertaken to test the strike and dip extents of gold bearing structures at the four Central Gold Prospects (Boundary, Sunrise, Good Friday and Battery Tank).

The drilling was designed to expand the knowledge and understanding surrounding the previous near surface gold results.

Boundary Prospect

Drilling has expanded the known strike of the main structure at Boundary to over 200m. The Boundary Prospect was a greenfield discovery by Helix, defined at surface by a gold in soil anomaly. This main gold-bearing structure remains open along strike in both directions as well as at depth.

Scissor holes HRRC105 & HRRC106 were drilled south to north and north to south respectively targeting the main structure and confirming the dip and strike of the system.

Significantly, both holes intersected new gold zones at shallow intervals before entering the main structure at depth. HRRC105 & HRRC106 both ended in mineralisation and are suitable candidates for future diamond tails to drill through the entire main structure in fresh rock.

The presence of possible northern and southern sub-parallel structures approximately 30m each side of the main structure at Boundary is a highly encouraging development. All gold-bearing structures at Boundary remain open along strike and at depth (refer to Figures 2 & 3).

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Figure 2¹: Schematic Boundary Prospect Plan: Strike of gold mineralisation in three gold bearing structures identified in drilling.

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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Table 1: RC Drilling intersections from the Boundary Prospect

Prospect	Hole ID	**Intercept **	Gradeg/t Au	DepthFrom	Comment
Boundary	HRRC104	54m	0.1	2m
	and	18m	0.6	67m
	incl.	4m	1.4	75m
	and	1m	2.8	84m
Boundary	HRRC105	20m	0.9	7m
	incl.	5m	2.6	14m	New gold bearing structure (south)
		22m	0.9	79mto EOH	Hole abandoned due to poor sample return (DDH tail required)
	incl.	4m	2.1	80m
	and	2m	2.0	89m
	and	2m	2.5	99m
Boundary	HRRC106	14m	0.6	19m
	incl.	2m	1.6	24m
	and	2m	1.0	31m
	and	1m	2.2	66m
		11m	1.1	108m to EOH	Hole abandoned due to poor sample return (DDH tail required)
	incl.	1m	3.2	111m
Boundary	HRRC107	10m	0.2	22m	Drilled over top of main Boundary gold structure
Boundary	HRRC108	19m	0.3	80m
	incl.	2m	1.0	80m
	and	2m	0.8	97m
Boundary	HRRC109	35m	0.7	1m
	incl.	17m	1.2	19m
	incl.	2m	3.0	22m
	and	5m	2.0	30m
Boundary	HRRC110	36m	0.7	23m
	incl.	7m	1.1	33m
	and	6m	1.6	47m

Intervals reported are based on a 0.1g/t Au Cut-off grade with a maximum of 4m of internal dilution. RC samples were riffle split from the rig at 1m intervals. Samples were dried, pulverised and assayed for gold using a lead collection fire assay method.

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 3¹: Schematic section of Boundary Prospect (from dashed zone of Figure 2) shows the main gold structure at Boundary and the new sub-parallel structures.

Sunrise Prospect

Drilling continues to demonstrate evidence for additional gold structures at the Sunrise Prospect, specifically multiple gold-bearing structures stacked perpendicular to the overall north-west trend at the prospect. More significantly, gold mineralisation has been intersected in fresh rock at Sunrise, in positions relating to depth extensions of these gold-bearing structures.

Results from HRRC119-124 have also highlighted possible geological vectors that may assist in targeting additional strike and depth extensions with further drilling.

The 7m @ 2.5g/t Au (incl. 2m @ 6.9g/t Au) in fresh rock from 95m in HRRC123 complements an intersection of 8m @ 3.3g/t Au (incl. 3m @ 6.1g/t Au¹) from 80m in near-fresh rock in HRDD006 drilled earlier this year. Both intersections are hosted in zones of highly silica/sericite altered sediments and associated quartz veining all disrupted and brecciated within interpreted north-east trending structures.

A broad zone of gold mineralisation was also intersected in HRRC122. Multiple quartz vein arrays were logged over the 61m interval and correlate well with the higher grade gold results identified throughout this intercept. This intercept is located west and south of a strong zone of gold mineralisation, further illustrating the subparallel nature of north-east gold controls.

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

Drilling at Good Friday has confirmed the presence of new gold zones north of the mineralised zone which was subject to diamond drilling earlier this year. The new gold bearing structures were intersected in HRRC127 (11m @ 2.5g/t Au incl. 4m @ 5g/t Au) & HRRC128 (15m @ 1g/t Au). Both holes were drilled in a northerly direction and extend the overall width of the gold system at Good Friday to at least 150m (open along strike), with three gold bearing structures interpreted at this prospect.

A link hole designed to test the structures between the zone intersected in HRRC127 at Good Friday and gold mineralisation 220m east, located in the western-most holes of the Sunrise Prospect. The hole was abandoned before hitting the target zone of 180m due to significant water incursion and no sample return at 150m. The hole will be assessed for a diamond tail a future program.

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Figure 4¹: Schematic Plan of Sunrise and Good Friday area showing multiple north-east trending gold structures

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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Table 2: RC Drilling Significant intersections from the Sunrise and Good Friday Prospects

Prospect	Hole ID	**Intercept **	Gradeg/t Au	Depth From	Comment
Sunrise	HRRC119	30m	0.4	Surface
	incl.	2m	2.1	18m	Newgold bearingstructure
	and	3m	1.1	51m
Sunrise	HRRC120	32m	1.0	8m
	incl.	2m	5.6	9m	high grade zone
	and	9m	1.9	13m
Sunrise	HRRC121	6m	0.5	Surface
	incl.	1m	1.0	2m
	and	4m	0.6	88m
Sunrise	HRRC122	61m	0.6	21m	Confirmation of E-W structures
	incl.	1m	2.0	21m
	and	1m	2.8	40m
	and	1m	2.6	55m
	and	4m	2.3	69m
Sunrise	HRRC123	5m	0.3	30m
	and	7m	2.5	95m	Gold intercept in fresh rock
	incl.	2m	6.9	96m	high grade zone
Sunrise	HRRC124	11m	0.5	10m
	incl.	1m	2.0	11m
	and	4m	0.5	98m	anomalousgold in fresh rock
	and	7m	0.3	158m	anomalousgold in fresh rock
Link hole	HRRC125	1m	0.6	63m	Hole abandoned at 150m, target depth 180m.(DDH tail required)
	and	1m	0.6	80m
Good Friday	HRRC126		NSR
Good Friday	HRRC127	38m	0.8	Surface
	Incl.	11m	2.5	17m	newgold bearingstructure
	Incl.	4m	5.0	22m	high grade zone
Good Friday	HRRC128	15m	1.0	12m	newgold bearingstructure
	Incl.	1m	4.9	23m
Good Friday	HRRC129	4m	0.4	49m
Good Friday	HRRC118		NSR

Intervals reported are based on a 0.1g/t Au Cut-off grade with a maximum of 3m of internal dilution. RC samples were riffle split from the rig at 1m intervals, samples in less prospective shale zones were collected as 4m composites. Samples were dried, pulverised and assayed for gold using a lead collection fire assay method.

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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Battery Tank Prospect

Additional drilling at the Battery Tank Prospect demonstrates the presence of a broad zone of gold mineralisation, in a structure with a sub-vertical dip. HRRC130 was drilled down dip of HRDD004 (45m @ 0.4g/t Au from surface incl. 7.6m @ 1.5g/t Au) and has returned 44m @ 1.1g/t Au from 5m incl. 23m @ 2.0 g/t Au from 26m downhole. The strike direction of this structure is interpreted to be north-east.

The comparison of results from this recent RC hole, the original aircore hole (HRAC018 - 43m @ 2.3g/t Au from surface) and diamond results suggests the diamond drilling at the Battery Tank Prospect may have underreported gold tenor in the oxidised rock (refer Figure 5).

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Figure 5¹: Schematic cross-section of Battery tank Prospect showing gold intervals in HRRC130 and previous holes

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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Table 3: RC Drilling Significant intersections from the Battery Tank Prospect

Prospect	Hole ID	Intercept	Gradeg/t Au	Depth From	Comment
Battery Tank	HRRC130	44m	1.1	5m
	Incl.	23m	2.0	26m	high grade zone
	Incl.	5m	3.1	26m
	and	3m	2.4	35m
	and	2m	3.0	42m
Battery Tank	HRRC131	4m	0.6	80m
Battery Tank	HRRC132	19m	0.1	3m
	and	11m	0.3	34m
	Incl.	1m	1.3	35m
	and	1m	1.4	39m
Battery Tank	HRRC133	6m	0.1	4m

Intervals reported are based on a 0.1g/t Au Cut-off grade with a maximum of 3m of internal dilution. RC samples were riffle split from the rig at 1m intervals, samples in less prospective shale zones were collected as 4m composites. Samples were dried, pulverised and assayed for gold using a lead collection fire assay method.

Regional Drilling

A first-pass exploration slim-line RC program was also undertaken to complete an initial drill test of two regional prospects: Republic and Reward (for locations, refer Figure 1). It should be noted that all drill samples from these regional targets were collected as 4m composite samples.

At the Reward Prospect , one hole was drilled as an exploration drill test of a potential mineralised zone located between a 30m deep historic gold mine shaft and a series of 10m to 20m deep mine shafts which lie 75m to the east. Whilst no significant gold mineralisation was intersected, the hole was abandoned at 63m after hitting an historic stope and losing sample return. A further two holes were drilled in order to identify potential extensions east, and repeats of this position to the south.

The southern orientated hole, HRRC116, returned a highly encouraging 20m @ 1.1 g/t Au from 16m including 4m @ 2.5g/t Au from 20m through a new gold-bearing structure. This zone is located 70m southeast of the historic workings and remains open in all directions (refer Figure 6).

This new gold mineralised structure on the south side of the Reward Prospect, located within a major northsouth regional lineament, a zone that also appears to host the Lone Hand (~600m south) and Girl in Blue (~1,500m south) Prospects . This major structure is considered an important control to mineralisation in the gold field and has a similar orientation to the controlling structures seen at the +4Moz Au Peak Gold Trend, located 35km northwest of the Cobar Gold Project.

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 6: Schematic plan of the Reward Prospect area showing gold in soil anomalism and recent drill traces. The new gold-bearing structure is located southeast of the historic workings, in an area that is open in all directions.

At the Republic Prospect , four holes were drilled on broad spacing; each to a depth of 120m. These holes were designed to provide an initial drill test of the open-ended 250m x 250m gold in soil anomaly. The open geochemical anomaly is located south-east of an historic mine shaft and a number of associated trenches. The south-eastern most hole HRRC113 encountered broad gold anomalism consisting of 24m @ 0.2g/t Au intersected from 48m. Note: individual 1m re-splits of this zone will be carried out and the geology re-assessed to best orientate future drilling at this prospect.

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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Table 4: RC Drilling Significant intersections from the Republic and Reward Prospects

Prospect	Hole ID	**Intercept **	Goldgrade(g/t)	Depth From	Comment
Republic	HRRC111	4m	0.1	60m
	and	4m	0.1	104m
Republic	HRRC112		NSR
Republic	HRRC113	24m	0.2	48m
	incl.	8m	0.4	68m
Republic	HRRC114	8m	0.1	8m
	and	4m	0.1	104m
Reward	HRRC115	8m	0.2	24m
Reward	HRRC116	44m	0.6	4m
	incl.	20m	1.1	16m 20m 32m	New gold structure on major regional lineament
	incl.	4m	2.5
	and	4m	1.5
Reward	HRRC117	8m	0.1	4m

Intervals reported are based on a 0.1g/t Au Cut-off grade with a maximum of 4m of internal dilution. RC samples were riffle split from the rig at 1m intervals all samples were from these prospects were collected initially as 4m composites. Samples were dried, pulverised and assayed for gold using a lead collection fire assay method.

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Figure 7: The Cobar Gold Project: located 35km SE of The Peak Mine operation & 25km S of the historic Mt Boppy Mine

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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Table 5: RC Program Drill Collar Information

Project	Hole ID	Northing	Easting	RL	Azimuth	Total Depth	Hole Type	Prospect
EL6140	HRRC104	6485870	428960	300	10	120	RC	Boundary
EL8433	HRRC105	6485870	428975	300	10	103	RC	Boundary
EL8433	HRRC106	6485980	428990	300	190	119	RC	Boundary
EL6140	HRRC107	6485900	428850	300	10	118	RC	Boundary
EL8433	HRRC108	6485860	429035	300	10	104	RC	Boundary
EL6140	HRRC109	6485896	428898	300	10	115	RC	Boundary
EL6140	HRRC110	6485890	428940	300	10	120	RC	Boundary
EL6140	HRRC111	6488430	424075	300	10	120	SLRC	Republic
EL6140	HRRC112	6488445	424155	300	10	120	SLRC	Republic
EL6140	HRRC113	6488390	424150	300	10	120	SLRC	Republic
EL6140	HRRC114	6488340	424065	300	10	120	SLRC	Republic
EL6140	HRRC115	6486914	424587	300	10	63	SLRC	Reward
EL6140	HRRC116	6486888	424628	300	190	109	SLRC	Reward
EL6140	HRRC117	6486889	424629	300	10	103	SLRC	Reward
EL6140	HRRC118	6485910	427018	300	10	100	SLRC	Good Friday
EL6140	HRRC119	6485678	427655	300	10	178	RC	Sunrise
EL6140	HRRC120	6485686	427604	300	10	118	RC	Sunrise
EL6140	HRRC121	6485810	427571	300	10	118	RC	Sunrise
EL6140	HRRC122	6485785	427524	300	10	156	RC	Sunrise
EL6140	HRRC123	6485814	427462	300	10	178	RC	Sunrise
EL6140	HRRC124	6485860	427442	300	10	178	RC	Sunrise
EL6140	HRRC125	6485860	427145	300	10	150	RC	Good Friday
EL6140	HRRC126	6485866	427034	300	10	118	RC	Good Friday
EL6140	HRRC127	6485922	427043	300	10	118	RC	Good Friday
EL6140	HRRC128	6485900	426994	300	10	118	RC	Good Friday
EL6140	HRRC129	6485875	426960	300	10	200	RC	Good Friday
EL6140	HRRC130	6486130	426055	300	270	60	RC	BatteryTank
EL6140	HRRC131	6486145	425985	300	10	118	RC	BatteryTank
EL6140	HRRC132	6486110	426027	300	10	118	RC	BatteryTank
EL6140	HRRC133	6486085	426060	300	10	118	RC	BatteryTank

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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- ENDS -

For further information:

Mick Wilson Managing Director mick.wilson@helix.net.au Ph: +61 8 9321 2644

Dale Hanna CFO/Company Secretary dale.hanna@helix.net.au Ph: +61 8 9321 2644

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 2012 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 announcement dated 7 April 2011, 17 November 2016, 3 April 2017, 26 April 2017 11 May 2017 and 30 June 2017. Helix Resources is not aware of any new information or data that materially effects the information in this announcement.

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

JORC Code – Table 1

Sampling Techniques and Data

Criteria	JORC Code explanation	Commentary
Sampling	 Nature and quality of sampling (eg cut channels, random	The Cobar Gold Project drilling used a commercial contractor for
techniques	chips, or specific specialised industry standard	Conventional and slim-line RC drilling. A total of 30 new holes were
	measurement tools appropriate to the minerals under	drilled (refer Table 1, 2, 3 4 & 5 in body of announcement). Holes were
	investigation, such as down hole gamma sondes, or	orientated as listed in Table 5, and were drilled at dips of 60°.
	handheld XRF instruments, etc). These examples should	The drill hole locations were located by handheld GPS. Down hole
	not be taken as limiting the broad meaning of sampling.	surveys were conducted in the Conventional RC holes during drilling,
	 Include reference to measures taken to ensure sample	using an in-rod down-hole system at a nominal 50m interval.
	representivity and the appropriate calibration of any	RC drilling was used to obtain 1m samples over the entire hole length
	measurement tools or systems used.	with 4m composite samples collected using a spear from regional
	 Aspects of the determination of mineralisation that are	targets and where the logged geology was less prospective shale
	Material to the Public Report.	intervals. 1m samples were collected using riffle splitter attached to
	 In cases where ‘industry standard’ work has been done	the rig from the conventional RC where geology was considered
	this would be relatively simple (eg ‘reverse circulation	prospective. Samples (both composite and 1m) were collected to
	drilling was used to obtain 1 m samples from which 3 kg	provide a 2kg sample. The samples were sent to a commercial
	was pulverised to produce a 30 g charge for fire assay’).	laboratory, pulverized to produce a representative charge with gold
	In other cases more explanation may be required, such as	assayed. Samples from the Regional Prospects were also assayed for
	where there is coarse gold that has inherent sampling	a multi-element suite using a mixed acid digest. Selected screen fire
	problems. Unusual commodities or mineralisation types	assays of individual samples returning greater than 5g/t Au have
	(eg submarine nodules) may warrant disclosure of	shown good repeatability with the routine fire-assay results for those
	detailed information.	selected metre intervals.
Drilling	 Drill type (eg core, reverse circulation, open-hole hammer,	RC Drilling was the method chosen for all holes drilled. The hole
techniques	rotary air blast, auger, Bangka, sonic, etc) and details (eg	diameter was 5.5 inch in the Conventional RC and 4.5 inch in the
	core diameter, triple or standard tube, depth of diamond	slimline RC.
	tails, face-sampling bit or other type, whether core is
	_oriented and if so, by what method, etc). _
Drill sample	 Method of recording and assessing core and chip sample	Sample recoveries are observed during the drilling and any significant
recovery	recoveries and results assessed.	sample loss was noted the geological logs.
	 Measures taken to maximise sample recovery and ensure	Samples were checked by for volume, moisture content, possible
	representative nature of the samples.	contamination and recoveries. Any issues are discussed with the
	 Whether a relationship exists between sample recovery	drilling contractor.
	and grade and whether sample bias may have occurred	No relationship between sample recovery and grade was observed in
	due topreferential loss/gain of fine/coarse material.	the RC drilling.

Criteria	JORC Code explanation	Commentary
Logging	 Whether core and chip samples have been geologically	Representative samples were sieved and placed into plastic chip trays
	and geotechnically logged to a level of detail to support	to enable geological logging by the supervising geologist. These trays
	appropriate Mineral Resource estimation, mining studies	are retained and stored by the company top allow check logging at a
	and metallurgical studies.	later date.
	 Whether logging is qualitative or quantitative in nature.	Logging of drill chips was completed with lithology, alteration, degree
	Core (or costean, channel, etc) photography.	of oxidation, fabric and colour being recorded.
	 The total length and percentage of the relevant	All holes were logged in full.
	intersections logged.
Sub-	 If core, whether cut or sawn and whether quarter, half or	The preparation of samples follows industry practice. This involves
sampling	all core taken.	oven drying, pulverization of total sample using LM5 mills until 85%
techniques	 If non-core, whether riffled, tube sampled, rotary split, etc	passes 75 micron.
and sample	and whether sampled wet or dry.	Field QA_QC involved the laboratories standard QA_QC procedures.
preparation	 For all sample types, the nature, quality and	A selection of umpire sampling of the core pulps at a separate lab will
	appropriateness of the sample preparation technique.	be undertaken to confirm the results received
	 Quality control procedures adopted for all sub-sampling	The sample sizes are considered appropriate to the grain size of the
	stages to maximise representivity of samples.	material being sampled. Repeatability of assays was good.
	 Measures taken to ensure that the sampling is
	representative of the in situ material collected, including for
	instance results for field duplicate/second-half sampling.
	 Whether sample sizes are appropriate to the grain size of
	the material being sampled.
Quality of	 The nature, quality and appropriateness of the assaying	All assays were conducted at an accredited assay laboratory. The
assay data	and laboratory procedures used and whether the	analytical technique used for Gold via the fire assay method and scree
and	technique is considered partial or total.	fire assay method (-75µm). Selected samples were assayed for
laboratory	 For geophysical tools, spectrometers, handheld XRF	pathfinder elements using a 4 acid digest.
tests	instruments, etc, the parameters used in determining the	Laboratory QA/QC samples involving the use of blanks, duplicates,
	analysis including instrument make and model, reading	standards (certified reference materials), replicates as part of in-house
	times, calibrations factors applied and their derivation, etc.	procedures.
	 Nature of quality control procedures adopted (eg
	standards, blanks, duplicates, external laboratory checks)
	and whether acceptable levels of accuracy (ie lack of bias)
	andprecision have been established.
Verification	 The verification of significant intersections by either	Results have been verified by Company management.
of sampling	independent or alternative company personnel.	Geological data was/is being collected using handwritten log sheets
and	 The use of twinned holes.	which detailed geology (weathering, structure, alteration,
assaying	 Documentation of primary data, data entry procedures,	mineralisation), sampling quality and intervals, sample numbers,
	data verification, data storage (physical and electronic)	QA/QC and survey data. This data, together with the assay data
	protocols.	received from the laboratory and subsequent survey data were entered
		into a secure Access databases and verified.

Criteria	JORC Code explanation	Commentary	Commentary
	 Discuss any adjustment to assay data.
Location of	 Accuracy and quality of surveys used to locate drill holes		The drill collar positions were picked-up using GPS.
data points	(collar and down-hole surveys), trenches, mine workings		Grid system is GDA94 Zone 55.
	and other locations used in Mineral Resource estimation.		Surface RL data collected using GPS. Topography around the drilled
	 Specification of the grid system used.		area is a slight slope grading from Grid North-East to drainage west of
	 Quality and adequacy of topographic control.		the main drilled area. Variation in topography is less than 5m across
			the drilled area.
Data spacing	 Data spacing for reporting of Exploration Results.		Drill holes at the Cobar Gold Project were targeting structural controls
and	 Whether the data spacing and distribution is sufficient to		in six Prospects (refer Figure 1).
distribution	establish the degree of geological and grade continuity		The drilling programs conducted by Helix at Republic and Reward
	appropriate for the Mineral Resource and Ore Reserve		prospects remain insufficient to establish a JORC compliant resource.
	estimation procedure(s) and classifications applied.		Helix plans to assess the data spacing at Boundary, Good Friday,
	 Whether sample compositing has been applied.		Sunrise and Battery Tank with the aim of preparing a JORC 2012
			compliant resource.
			Where deemed appropriate, (Regional prospects or less prospective
			shale intervals) 4m composite samples were collected using a spear at
			the drill site. Toproduce a 2kgcomposite sample.
Orientation	 Whether the orientation of sampling achieves unbiased		No orientation based sampling bias has been identified in the data to
of data in	sampling of possible structures and the extent to which		date.
relation to	this is known, considering the deposit type.	
geological	 If the relationship between the drilling orientation and the		No material sampling bias is considered to be present in the current
structure	orientation of key mineralised structures is considered to		drilling orientations.
	have introduced a sampling bias, this should be assessed
	and reported if material.
Sample	 The measures taken to ensure sample security.		Chain of Custody is managed by the Company. The samples were
security			freighted directly to the laboratory with appropriate documentation
			listing sample numbers intervals to cut and analytical methods
			requested.
Audits or	 The results of any audits or reviews of sampling		No additional QA/QC has been conducted for the drilling to date.
reviews	techniques and data.

Section 2 Reporting of Exploration Results

(Criteria listed in the preceding section also apply to this section.)

Criteria	JORC Code explanation	Commentary
Mineral	 Type, reference name/number, location and ownership	The Cobar Gold Project is located on EL6140, a JV between Helix
tenement	including agreements or material issues with third parties	90% and manager and 10% Glencore (diluting). The tenement is in
and land	such as joint ventures, partnerships, overriding royalties,	good standing. There are no known impediments to operating in this
tenure status	native title interests, historical sites, wilderness or national	area and EL8433 100% owned by Helix granted in May 2016.
	park and environmental settings.
	 The security of the tenure held at the time of reporting
	along with any known impediments to obtaining a licence
	to operate in the area.
Exploration	 Acknowledgment and appraisal of exploration by other	Previous modern exploration on the Cobar Gold Project was limited
done by	parties.	set-depth 20m open hammer holes drilled by CRA at Good Friday in
other parties		the 1970’s with follow-up work by Glencore in the mid 2000’s.Historic
		shafts and pits are present throughout the area, which date back to
		small scale miningactivities in the late 1800’s and early1900’s.
Geology	 Deposit type, geological setting and style of mineralisation.	The prospect is considered to be sediment hosted mesothermal to
		epithermal stylegold.
Drill hole	 A summary of all information material to the understanding	Refer to table 1,2, 3, 4 & 5 in the body of the text
Information	of the exploration results including a tabulation of the	No material information was excluded from the results listed
	following information for all Material drill holes:
	 If the exclusion of this information is justified on the basis
	that the information is not Material and this exclusion does
	not detract from the understanding of the report, the
	Competent Person should clearly explain why this is the
	case.
Data	 In reporting Exploration Results, weighting averaging	Intervals reported are based on a 0.1g/t Au Cut-off grade with a
aggregation	techniques, maximum and/or minimum grade truncations	maximum of 4m of internal dilution
methods	(eg cutting of high grades) and cut-off grades are usually	No weighting has been used
	Material and should be stated.	No metal equivalent results were reported.
	 Where aggregate intercepts incorporate short lengths of
	high grade results and longer lengths of low grade results,
	the procedure used for such aggregation should be stated
	and some typical examples of such aggregations should
	be shown in detail.
	 The assumptions used for any reporting of metal
	equivalent values should be clearly stated.

Criteria JORC Code explanation Commentary
Relationship between mineralisatio n widths and intercept lengths  These relationships are particularly important in the reporting of Exploration Results.  If the geometry of the mineralisation with respect to the drill hole angle is known, its nature should be reported.  If it is not known and only the down hole lengths are reported, there should be a clear statement to this effect (eg ‘down hole length, true width not known’). The program was designed to intersect and expand trends of known gold mineralization and to further define structural controls of high grade gold mineralisation. Geological interpretation is underway so true width is presently not known. Results are reported as down hole lengths
Diagrams  Appropriate maps and sections (with scales) and tabulations of intercepts should be included for any significant discovery being reported These should include, but not be limited to a plan view of drill hole collar locations and appropriate sectional views. Refer Figures 1 to 6, and tables 1 to 5 in the main body.
Balanced reporting  Where comprehensive reporting of all Exploration Results is not practicable, representative reporting of both low and high grades and/or widths should be practiced to avoid misleading reporting of Exploration Results. Refer to Tables 1 to 5.
Other substantive exploration data  Other exploration data, if meaningful and material, should be reported including (but not limited to): geological observations; geophysical survey results; geochemical survey results; bulk samples – size and method of treatment; metallurgical test results; bulk density, groundwater, geotechnical and rock characteristics; potential deleterious or contaminating substances. Previously reported activities Refer to ASX announcements on www.helix.net.au for details
Further work  The nature and scale of planned further work (eg tests for lateral extensions or depth extensions or large-scale step- out drilling).  Diagrams clearly highlighting the areas of possible extensions, including the main geological interpretations and future drilling areas, provided this information is not commercially sensitive. Based on these continuing encouraging results, a review of all drill data is planned with further soils sampling, mapping and additional drilling considered imperative to further assess the potential at various prospects on the Cobar Gold Project.