HELIX RESOURCES LIMITED — Capital/Financing Update 2017

Apr 25, 2017

ASX Announcement

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26 April 2017

RECENT DIAMOND DRILLING RETURNS NEW GOLD INTERCEPTS POTENTIAL FOR A NEW GOLD CAMP EMERGING

Highlights

• Recent drilling at Helix’s Cobar Gold Project in NSW has returned significant gold intercepts from shallow depths at two additional prospects:

Battery Tank Prospect:

Diamond hole HRDD005 drilled down dip of the discovery hole has returned

• 10m @ 3.3 g/t Au (incl. 3.3m @ 5.2g/t Au) and

• 5m @ 2.4g/t Au

within an overall intercept of 54.5m @ 1g/t Au.

Discovery hole 1m re-sampling has returned 14m @ 2.8g/t Au and 4m @ 13.3g/t Au within 43m @ 2.3g/t Au from surface to EOH.

Sunrise Prospect:

Diamond hole HRDD006 has intersected multiple gold bearing structures including:

• 8m @ 3.3g/t Au (incl. 3m @ 6.1g/t Au)

• 2m @ 3.5 g/t Au

• 7m @ 1.3g/t Au and

• 7m @ 1.2g/t Au

within an overall 88m @ 0.7g/t Au intercept of gold mineralisation from surface.

• Identification of gold bearing quartz vein arrays and breccia zones perpendicular to the regional northwest trends is an important geological breakthrough for the project. This indicates that the size and grade of the known gold mineralisation has the potential to increase significantly with further drill testing.

• Similarities have been identified between the gold mineralising controls in the nearby Peak gold trend (approx. 4 million ounce gold endowment) and the Cobar Gold Project.

- A follow-up RC drilling program is being formulated and planned. It is likely to include:

1. Infill drilling at Sunrise and Good Friday targeting the high-grade gold in northeast trending structures.

2. Step-out drilling at Battery Tank, Good Friday and Boundary Prospects to test extent of strike and dip of gold bearing structures.

3. First-pass drill testing of several regional targets.

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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Helix Resources Limited (ASX:HLX) is pleased to provide an update with regard to its recent diamond drilling program at the Cobar Gold Project in NSW.

Cobar Gold Project

The Cobar Gold Project is located approximately 40km southeast of the mining hub of Cobar in Central NSW. Helix’s 750km² of tenements cover an entire goldfield hosted in a regionally significant anticline, where northwest regional trends appear to control gold-bearing structures in highly altered sediments. Gold mineralisation was targeted by a series of historic shafts and pits when the area was mined in the late 1800’s. The goldfield was only abandoned due to a lack of water to process the gold ore at the time. The goldfield has small historic gold workings scattered over a 13km x 5km area, demonstrating the potentially extensive gold mineralised system present in the area. The area has had only limited drilling to a maximum depth of 120m from surface at four prospects (Battery Tank, Good Friday, Sunrise and Boundary).

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Figure 1: Location of the Cobar Gold Project which has a similar geological and structural setting to the Peak Gold Trend and also showing the wider district with several nearby long-life operations and significant new discoveries; including Helix’s Collerina Copper Project .

Recent diamond drilling has intersected further gold bearing structures, in addition to previously identified gold structures, with associated quartz vein arrays and breccias, within wide zones of gold mineralisation commencing from surface or very near surface.

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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The encouraging gold drill results have been returned from a direction perpendicular to the northwest regional trends now at all four prospects ( Battery Tank, Good Friday, Sunrise and Boundary ) that have been subject to initial drill testing to date.

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Figure 2: Diamond drill hole locations at the Battery Tank, Good Friday, Sunrise and Boundary Prospects showing associated anomalism in soil geochemistry

This new geological and structural interpretation provides scope for potential linkage between these prospects, both along strike and under shallow cover in drainage channels.

It also assists in planning drilling targeting dip/plunge extents, particularly where northwest and northeast structures intersect.

A regional structural review has highlighted similarities between the mineralising controls in the nearby (30km northwest) Peak gold trend, which has around a 4 million ounce gold endowment over an 8 kilometre strike length, and the gold mineralising structural controls present within the Cobar Gold Project.

A schematic long section ( refer Figure 3 ) demonstrates the exploration potential of this relatively underexplored goldfield; with existing prospects currently only limited by the lack of exploration drilling . A comparison long section of the Peak Trend is also shown ( refer Figure 3 ).

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 3: Schematic longsection comparison between the Cobar Gold Project gold field and the nearby producing Peak Trend which hosts approximately 4 million ounces of gold (looking south west).

Recent Diamond Drilling Program

The recent drill program was designed to assess alternate controls for gold mineralisation at the known prospects and confirm the presence of perpendicular (northeast trending) gold bearing structures in the broader regional northwest trends seen in the goldfield.

The 710m diamond drill program ( refer Tables 1 and 2 below ) comprised:

• four new diamond holes (two at the Battery Tank and two at the Sunrise Prospects); and

• four diamond tail extensions of previous holes (two at the Good Friday and two at the Boundary Prospects).

In addition, selected portions of sample intercepts from the December 2016 aircore drilling at Battery Tank, including discover hole HRCA0018, were re-sampled on a 1 metre basis ( refer Table 3 below ). The initial sampling was undertaken on the basis of 4 metre composites and was reported in January.

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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Following detailed geological and structural logging of the holes, the significant assays received from the program are described below.

Battery Tank Prospect

HRDD004: 1.3m @ 4.3g/t Au within 7.6m @ 1.5g/t Au from 29m, within a broader zone of 45m @ 0.4g/t Au from 0m. The hole was collared nearby and drilled at an oblique angle to the discovery hole. The hole has intersected the discovery zone up-dip.

HRDD005: 10m @ 3.3g/t Au from 23m incl. 3.3m @ 5.2g/t Au from 28m and 5m @ 2.4g/t Au from 54m within 54m @ 1g/t Au from 9.2m. The hole was drilled down-dip of HRAC018 and shows good vertical continuity of gold bearing structures within the holes, grade tenor in this hole may also be affected by core recovery and winnowing.

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Figure 4: Battery Tank Schematic Cross Section looking northwest

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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Sunrise Prospect

HRDD006: 7m @ 1.2g/t Au from 8m, 2m @ 3.5g/t Au from 39m and 7m @ 1.3g/t Au from 54m and 8m @ 3.3g/t Au incl. 3m @ 6.1g/t Au from 80m within 88m @ 0.7g/t Au from Surface.

HRDD007 : It is interpreted that this hole drilled over the top of the targeted structure with anomalous gold at the top of the hole (6m @ 0.2g/t from surface). This interpretation is based upon the lithologies and limited structure intersected within the hole, and the zone behind and down dip of HRDD007 previously returning strong gold mineralisation including 11m @ 3.5g/t Au within 28m @ 2.3g/t Au , in HRRC008³.

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Figure 5: Sunrise Prospect Schematic Cross Section looking northwest

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

The extended diamond tail assay results from HRDD003 have expanded the gold interval to 39m @ 2.4g/t Au from 29m (from 28.8m @ 3.0g/t Au reported November 2016), within a broader interval of 66m @ 1.5g/t Au from 2m.

This interval includes two zones of high-grade gold located higher in the hole that were previously reported. The high-grade gold zones included 8m @ 4.9g/t Au from 30m and 7.8m @ 4.0g/t Au from 50m¹.

The extensional drilling of HRDD003 has increased the high-grade zone at the Good Friday Prospect by approximately 10m, whilst HRDD001 extension is interpreted to be drilled underneath the mineralised shoot (refer figure 5). The new structural interpretation provides scope for this zone to extend along a north-easterly strike with a possible plunge component to the higher grade gold.

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Figure 6: Good Friday Prospect Schematic Cross Section looking northwest

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

Results are best in the previously released RC holes ( HRRC101 – 19m @ 1g/t Au incl. 2m @ 3.2g/t Au and HRRC103 – 20m @ 1.2g/t Au ). A strongly brecciated zone in the diamond tail returned anomalous gold (>0.1g/t Au) over 7m from 106m.

Based on the structures intersected in HRDD002 ( 43m @ 3.4g/t Au ) and the geology identified in the cored tails of these holes, the better target zones are likely to be behind and down dip of these holes. This target zone is planned to be tested down dip and along strike in a follow-up RC drilling program.

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Figure 7: Boundary Prospect Schematic Cross Section looking northwest

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: Drill Collar Details – Cobar Gold Project

Project	Site_ID	Northing	Easting	Dip	Azi	TotalDepth	**HoleType **
EL6140	HRDD001Ext	6485903	427021	-60	227	173.6m(frm 93.8)m	DDH(NQ)
EL6140	HRDD003Ext	6485894	427013	-60	228	137.8m(frm 57.8m)	DDH(NQ)
EL6140	HRDD004	6486130	426050	-60	290	112m	DDH(HQ& NQ)
EL6140	HRDD005	6486125	426055	-60	270	109m	DDH(HQ& NQ)
EL6140	HRDD006	6485825	427545	-60	020	133m	DDH(HQ& NQ)
EL6140	HRDD007	6485833	427518	-60	020	101.6m	DDH(HQ& NQ)
EL8433	HRRC101Ext	6485920	428955	-60	70	136m(frm 94.5m)	DDH(NQ)
EL8433	HRRC103Ext	6485905	428970	-60	70	152.4m(98.5m)	DDH(NQ)

Table 2: Diamond Drilling significant intercepts – Cobar Gold Project

Hole ID	From	**Intercept **
HRDD001	NSR	hole drilled underneath target zone
HRDD003¹	29m	39m@ 2.4g/t Au
Incl.	30m	8m@ 4.9g/t Au
Incl.	50m	7.8m@ 4.0g/t Au
within	2m	66m@1.5g/t Au
HRDD004	29m	7.6m@1.5g/t Au
Incl.	35.3m	1.3m@ 4.3g/t Au
Within	Surface	45m@0.4g/t Au
HRDD005	23m	10m@ 3.3g/t Au(incl 3.3m@ 5.2g/t Au)
And	55m	5m@ 2.4g/t Au
Within	9.2m	54.5m@1g/t Au
HRDD006	8m	7m@1.2g/t Au
And	39m	2m@ 3.5g/t Au
And	54m	7m@1.3g/t Au
And	80m	8m@ 3.3g/t Au(incl. 3m@ 6.1g/t Au)
Within	Surface	88m@0.7g/t Au
HRDD007		Drilled over the top of the targeted structure with anomalous gold at the top of the hole and significant results in previous drillingHRRC008.
HRRC101Ext		Anomalous gold 106.0-113.0m associated with breccias. Results were best in the previously released RC hole portion (19.5m @ 1g/t Au)
HRRC103Ext		Anomalous gold 98.5-102.0m associated with vein breccias. Results were best in the previously released RC hole portion (20m@1.2g/t Au)

Intervals reported are based on a 0.1g/t Au Cut-off grade with a maximum of 6m of internal dilution. DDH core (HQ & NQ) was sampled as half core over nominal 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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- Battery Tank Aircore 1m Re Sampling

Selected 1m re-sampling from the December 2016 aircore drilling at Battery Tank confirmed the initial 4m composites reported in January ( refer Table 3 below ).

The Battery Tank discovery aircore hole HRCA0018, was re-sampled at 1m intervals. The re-splits from HRAC018 returned 14m @ 2.8g/t Au from surface and 4m @ 13.3g/t Au to EOH within 43m @ 2.3g/t Au to EOH . This results shows good consistency with the original result of 43m @ 2.3g/t Au including 11m @ 5.1g/t to EOH.

The maximum 1m sample returned was an outstanding 19.5g/t Au at 39-40m downhole .

Table 3: Aircore Drilling 1m Sampling significant intercepts – Cobar Gold Project

Hole ID	From	Intercept
HRAC009	29m	3m@1.3g/t Au
HRAC011	33m	1m@1.6g/t Au
HRAC018	0m	14m@ 2.8g/t Au
	39m	4m@ 13.3g/t Au
Within	0m	43m@ 2.3g/t Au to EOH

Planned Work

A follow-up RC drilling program is being formulated and planned. It is likely to include:

1. Infill drilling at Sunrise and Good Friday targeting the high-grade in northeast trending gold structures.

2. Step-out drilling at Battery Tank, Good Friday and Boundary to test extent of strike and dip of gold bearing structures.

3. First-pass drill testing of several recently identified regional targets.

New Structural Framework

At the Prospect scale, the recent structural review at the Cobar Gold Project carried out with the assistance of an experienced structural geological consultant has also observed the northeast trending structures perpendicular to the main northwest trends, the direction that appears to control high grade gold within the prospects ( Battery Tank, Good Friday, Sunrise and Boundary ) tested to date ( refer Figure 8 ).

This geological interpretation provides scope for potential linkage between these prospects, both along strike and under shallow drainage. It will assist in targeting dip/plunge extent also, particularly where northwest and northeast structures intersect.

Multiple targets at these Prospects have now been identified by Helix and with further drill testing, this reinterpretation of the gold controls has the potential to increase the gold grades and volume of mineralisation across the known prospects significantly and increase potential deposit scale.

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 8: Position of existing Prospects in plan view with a schematic overlay of soil geochemistry and the new structural interpreation being targeted. Northeast trending quartz vein arrays and brecciation in northwest bounded corridors.

Regional Targets

Findings from the regional structural review indicates that potential exists for a large gold system to be present at the Cobar Gold Project.

The review also reinforces the idea of a common genetic relationship between gold mineralisation in the Peak Gold Trend, which has around a 4 million ounce gold endowment over an 8 kilometres strike length, and the Restdown-Canbelego-Mt Boppy region, which hosts the Cobar Gold Project ( refer Figure 3 ).

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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Gold Mineralisation

Below shows a typical example of the Cobar Gold Project gold mineralisation, from 78.6m in HRDD006. This high grade intersection is one of the deeper gold intercepts in the goldfield to date in relatively competent rock. The gold mineralisation in this intercept is associated with quartz and iron-rich veinlets/veins and breccias, in a highly deformed structural zone hosted in strongly sericite altered sediments ( refer Photo 1 ).

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Photo 1: Diamond core from HRDD006 showing high-grade gold results from 78.8m -87.8m(ppm =g/t Au)

- ENDS –

For further information:

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

Dale Hanna 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 3 April 2017. Helix Resources is not aware of any new information or data that materially effects the information in this announcement.

² For full details of exploration results refer to ASX announcement dated 17 November 2016. Helix Resources is not aware of any new information or data that materially effects the information in this announcement.

³ For full details of exploration results refer to ASX announcement dated 7 April 2011. 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

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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 NQ
techniques	chips, or specific specialised industry standard	and HQ diamond core drilling. A total of 4 new holes were drilled and
	measurement tools appropriate to the minerals under	4 previous holes were extended (refer Table 1 & 2 in body of
	investigation, such as down hole gamma sondes, or	announcement). Holes were orientated as listed in Table 2, and were
	handheld XRF instruments, etc). These examples should	drilled at dips of 60°.
	not be taken as limiting the broad meaning of sampling.	The drill hole locations were located by handheld GPS. Down hole
	 Include reference to measures taken to ensure sample	surveys were conducted during drilling, using an in-rod down-hole
	representivity and the appropriate calibration of any	system.
	measurement tools or systems used.	DDH drilling was used to obtain 1m samples over the entire hole length
	 Aspects of the determination of mineralisation that are	with 1m half core samples collected (~3kg). The 1m samples were cut
	Material to the Public Report.	and collected at a commercial laboratory, pulverized to produce a
	 In cases where ‘industry standard’ work has been done	representative charge with gold assayed. Selected screen fire assays
	this would be relatively simple (eg ‘reverse circulation	of individual samples returning greater than 5g/t Au have shown good
	drilling was used to obtain 1 m samples from which 3 kg	repeatability with the routine fire-assay results for those selected metre
	was pulverised to produce a 30 g charge for fire assay’).	intervals. Several screen fire samples did show very high grades (20
	In other cases more explanation may be required, such as	to 40g/t Au) reporting in the coarse fractions suggesting that a
	where there is coarse gold that has inherent sampling	component of coarse gold is likely to be present in these mineral
	problems. Unusual commodities or mineralisation types	systems.
	(eg submarine nodules) may warrant disclosure of
	detailed information.
Drilling	 Drill type (eg core, reverse circulation, open-hole hammer,	 DDH Drilling was the method chosen for all holes drilled. The core
techniques	rotary air blast, auger, Bangka, sonic, etc) and details (eg core diameter, triple or standard tube, depth of diamond tails, face-sampling bit or other type, whether core is	diameter was HQtriple tube (in weathered rock) and NQsizein competent rock or tails to existing holes.
	_oriented and if so, by what method, etc). _
Drill sample	 Method of recording and assessing core and chip sample	Core recoveries are observed during the drilling and any core loss was
recovery	recoveries and results assessed.	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	Some core loss was apparent and noted in the weathered portion of
	due topreferential loss/gain of fine/coarse material.	the holes,however this wasgenerallyminor.

	Criteria	JORC Code explanation	Commentary
	Logging	 Whether core and chip samples have been geologically	All core is retained as a half core representation of the metres drilled
		and geotechnically logged to a level of detail to support	with the core held at the Companies storage facility.
		appropriate Mineral Resource estimation, mining studies	Logging of core was completed with lithology, alteration, degree of
		and metallurgical studies.	oxidation, fabric and colour being recorded.
		 Whether logging is qualitative or quantitative in nature.	All holes were logged in full.
		Core (or costean, channel, etc) photography.
		 The total length and percentage of the relevant
		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 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).
	laboratory	 For geophysical tools, spectrometers, handheld XRF	Laboratory QA/QC samples involving the use of blanks,	duplicates,
	tests	instruments, etc, the parameters used in determining the	standards (certified reference materials), replicates as part of in-house
		analysis including instrument make and model, reading	procedures.
		times, calibrations factors applied and their derivation, etc.
		 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		mineralisation), sampling quality and intervals, sample	numbers,
			QA/QC and surveydata. This data,together with the assaydata

	Criteria	JORC Code explanation	Commentary
		 Documentation of primary data, data entry procedures,	received from the laboratory and subsequent survey data were entered
		data verification, data storage (physical and electronic)	into a secure Access databases and verified.
		protocols.
		 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 four known Prospects (refer Figure 2).
	distribution	establish the degree of geological and grade continuity	The drilling programs conducted by Helix remain insufficient to
		appropriate for the Mineral Resource and Ore Reserve	establish a JORC compliant resource.
		estimation procedure(s) and classifications applied.	Sampling nominal 1m intervals or applicable samples cut at the
		 Whether sample compositing has been applied.	laboratoryfor assay.
	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.	High grade gold was intersected in the reported hole with assays for
	geological	 If the relationship between the drilling orientation and the	the remaining holes awaited.
	structure	orientation of key mineralised structures is considered to
		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.

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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	70% and manager and 30% Glencore (diluting). The tenement is in
and land	such as joint ventures, partnerships, overriding royalties,	good standing, with a renewal submitted in October 2016.There are
tenure status	native title interests, historical sites, wilderness or national	no known impediments to operating in this area and EL8432 100%
	park and environmental settings.	owned by Helix granted in May 2016.
	 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 in the 1970’s with
other parties		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 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 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 6m 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	 These relationships are particularly important in the	The program was designed to intersect structural controls of high
		between	reporting of Exploration Results.	grade gold mineralisation.
		mineralisatio	 If the geometry of the mineralisation with respect to the	Structural orientation analysis is underway so true width is presently
		n widths and	drill hole angle is known, its nature should be reported.	not known.
		intercept	 If it is not known and only the down hole lengths are	Results are reported as down hole lengths
		lengths	reported, there should be a clear statement to this effect
			_(eg ‘down hole length, true width not known’). _
		Diagrams	 Appropriate maps and sections (with scales) and	Refer Figure 2-7 in the main body.
			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.
		Balanced	 Where comprehensive reporting of all Exploration Results	Refer to Table 1 and 2
		reporting	is not practicable, representative reporting of both low and
			high grades and/or widths should be practiced to avoid
			misleading reporting of Exploration Results.
		Other	 Other exploration data, if meaningful and material, should	Previously reported activities Refer to ASX announcements on
		substantive	be reported including (but not limited to): geological	www.helix.net.au for details
		exploration	observations; geophysical survey results; geochemical
		data	survey results; bulk samples – size and method of
			treatment; metallurgical test results; bulk density,
			groundwater, geotechnical and rock characteristics;
			potential deleterious or contaminating substances.
		Further work	 The nature and scale of planned further work (eg tests for	Based on these highly encouraging results so far, additional drilling is
			lateral extensions or depth extensions or large-scale step-	considered imperative to further assess the potential at various
			out drilling).	Prospects on the Cobar Gold Project.
			 Diagrams clearly highlighting the areas of possible
			extensions, including the main geological interpretations
			and future drilling areas, provided this information is not
			commercially sensitive.