HELIX RESOURCES LIMITED — Capital/Financing Update 2018

Nov 28, 2018

29 November 2018

Exploration Drilling Update Joshua Copper Project – Chile First interval over 0.5% Cu returned in sulphide-rich hydrothermal breccia.

Highlights

• Planned 3,000m diamond drilling program is now 83% complete. Drilling continues to significantly expand the known extent of the copper-bearing porphyry system at Joshua.

• First copper intervals above 0.5% have been returned from newly identified hydrothermal breccias - demonstrating the grade potential of the Joshua system.

• Hole 3, (JS18-003, EOH 686m) intersected a strongly altered hydrothermal breccia assaying 16m at 0.51% Cu from 546m, within 30m at 0.36% Cu from 544m - the highest interval of copper grades ever intersected at Joshua. Assays for the majority of the hole (56%) are still awaited.

• Hole 4 (JS18-004, EOH 550m) intersected over 100m of molybdenite-bearing quartz veins in strongly silicified dacite porphyry. All assays are awaited.

• The presence of molybdenite indicates a hotter part of the system and for the first time a molybdenum-mineralised porphyry intrusion has been identified. This is a very important milestone for the prospectivity of Joshua.

• Wide zones of copper mineralisation were also intersected in Hole 2 (JS18-002, EOH 704m) in strongly altered hydrothermal breccias, assaying 262m at 0.15% Cu from 46m, including 70m at 0.21% Cu from 238m. These broad zones of breccia-hosted copper mineralisation are significant in that they are amenable to being upgraded during later (hypogene) hydrothermal events (e.g. +0.5% Cu in Hole 3).

• The fifth hole (JS18-005) in the program is currently in progress and testing the zone between Hole 4 (molybdenum-rich porphyry) and Hole 3 (hydrothermal breccia zones with assays exceeding 0.5% Cu).

• Our understanding of the metal associations and metal zonation trends within the system have improved considerably throughout Phase 1 drilling program. A more robust geological model is emerging for targeting higher copper grades (as seen in Hole 3) within the broader zone of sulphide mineralised breccia (as seen in Hole 2) – an important development for targeting future drilling.

• All drilling and assaying from the current program expected to be completed before the end of December 2018.

• Manhattan Corporation (ASX:MHC) is funding this AUD$1M exploration program as its Option commitment under a Heads of Agreement (“HOA”), with Helix’s Chilean technical team managing the work.

Helix Resources Limited I ACN 009 138 738 I 78 Churchill Ave, Subiaco WA 6008 P: +61 8 9321 2644 F: +61 8 9321 3909 I www.helix.net.au I Email: mick.wilson@helix.net.au

Helix Resources Limited (ASX:HLX) ( Helix or the Company ) is pleased to provide an update for the diamond drilling program at the Joshua Porphyry Copper Project in Chile. Manhattan Corporation (ASX:MHC) is funding the cost of this exploration program as part of its option commitment under a Heads of Agreement (“HOA”) entered into with Helix earlier this year.

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Figure 1 | Relative positions of 2018 drill holes (completed and in progress) at Joshua shown on north-looking Google image.

Diamond Drilling

The 3000m diamond drilling program at the Joshua Porphyry Copper Project in Chile is 83% complete (2,500m).

Drilling continues to expand the known footprint of the copper-bearing porphyry system, and for the first time, a molybdenum-mineralised porphyry intrusion and a new phase of brecciation with higher copper grades (+0.5% Cu) have been intersected.

Holes 1 and 2 have been completed west of the silica cap (and previous Helix drilling) testing new geophysical and geological anomalies. Hole 3 has been completed to test a new zone in the valley east of all previous drilling, and holes 4 and 5 are the first holes ever drilled into an area even further east and interpreted to possibly represent a second porphyry system - Porphyry System 2.

Hole 4 (DDH JS18-004), located 1.3km NE of hole 3, is the first hole drilled into interpreted Porphyry System 2. The hole intersected over 100m of molybdenite-bearing (<0.1% molybdenite), A-type quartz veins in strongly silicified dacite porphyry, which geophysically is expressed as a strong IP resistivity anomaly. This is the first time that a broad interval of molybdenum mineralisation has been intersected at Joshua. The hole finished at 550m and all assay results are awaited.

Hole 3 (DDH JS18-003), located 1.3km ENE of hole 2 and 1.3km SW of hole 4, intersected hydrothermal breccia assaying 30m at 0.36% Cu from 554m, including 16m at 0.51% Cu from 556m - the best copper grade ever intersected at Joshua so far. The dimensions and orientation of this breccia body, which cuts across (or intrudes) an earlier hydrothermal breccia, remains undefined at present, as the next nearest drill hole (JS15004, drilled in 2015) is located over 400m to the west. Assays for the majority of the hole (56%) are still awaited.

Hole 2 (DDH JS18-002) finished at 704m and intersected disseminated and vein-style sulphide (including pyrite, chalcopyrite, molybdenite) in altered andesite and diorite porphyry hydrothermal breccia from 34m to 654m down-hole (refer to ASX Announcement 22 October 2018). The mineralised parts of this hydrothermal breccia assayed 262m at 0.15% Cu from 46m, including 70m at 0.21% Cu from 238m (refer to Table 2 for other mineralised intervals).

H E L I X R E S O U R C E S L I M I T E D 2

Significance

Our understanding of the metal associations and metal zonation trends within the Joshua porphyry copper system have improved considerably throughout the current drilling program. This has led to a more robust geological model for targeting the higher copper grades (as seen in hole 3) within the broader zone of sulphide mineralised breccia (as seen in hole 2) – an important development for the more effective planning of future drill holes in a mineralised system now drill defined over an area 3km by 1km.

The broad-spaced drilling in this program has illustrated three key features. 1. The Joshua Project was subject to multiple mineralising porphyry events. 2. The overall system is significantly larger than the area drilled previously, and 3. Intervals returning copper grades exceeding 0.5% Cu are present at Joshua.

All drilling and assaying from the current program are expected to be completed before the end of December 2018.

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Figure 2 A. | Silicified dacite porphyry containing molybdenite-bearing A-type quartz veins (hole JS18-004, 355m). Assays awaited.

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Figure 2 B. Hydrothermal dacite breccia with albite rims on biotite-magnetite altered breccia clasts and with a sulphide-bearing chlorite matrix (hole JS18-003, 533m).

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Figure 2 C. Hydrothermal dacite breccia with albite rims on breccia clasts and sulphide-bearing silica-chlorite matrix (hole JS18-003, 520m).

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Figure 2 D. Sulphide-bearing hydrothermal dacite breccia with tourmaline matrix (hole JS18-002, 545m).

H E L I X R E S O U R C E S L I M I T E D 3

Table 1. Diamond Drill Hole (DDH) Summary - 2018 (JS18 series, completed and in progress)

Hole ID (DDH)	East (WGS-84 19S)	North (WGS-84 19S)	RL (metres)	Depth (meters)	Angle (degrees)	Direction (magnetic)
JS18-001 JS18-002 JS18-003 JS18-004 JS18-005	320125 320360 321680 322760 322375	6613695 6613400 6613675 6614400 6614070	1571 1470 1154 1185 1095	425m EOH 704m EOH 686m EOH 550m EOH 135m (in progress)	-60 -70 -70 -70 -70	230 180 235 315 300

Coordinates: UTM WGS-84 19S EOH: End of Hole (final depth)

Table 2. Diamond Drill Hole (DDH) Assay Summary

Hole ID (DDH)	From (metres)	To (metres)	Interval (metres)	Results
JS18-002 JS18-002 JS18-002 JS18-002 JS18-003 JS18-003	46 incl. 238 340 590 544 incl. 546m	308 308 364 598 574 562	262 70 24 8 30 16	0.15% Cu 0.21% Cu 0.14% Cu 0.12 % Cu 0.36% Cu 0.51% Cu

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Figure 3 | Drill section showing imaged IP Chargeability and all mineralised drill results (2011, 2012, 2015, 2018) projected onto section 6613600N (UTM19S WGS84). Manhattan holes JS18-004 (completed) and JS18-005 (in progress) lie off this section 600m and 1,100m respectively further to the northeast.

H E L I X R E S O U R C E S L I M I T E D 4

Final assay results for all holes are anticipated to be received before the end of 2018. Results will be received sequentially in batches.

Holes 1 and 2 have been completed west of the silica cap (and previous drilling) into new zones. Hole 3 has been completed to test a new zone in the valley east of all previous drilling, and holes 4 and 5 are the first holes ever drilled, further east into interpreted Porphyry System 2.

Drilling continues to expand the known footprint of the copper-bearing porphyry system at Joshua, and for the first time a molybdenum-mineralised porphyry intrusion and a new phase of brecciation with higher copper grades (+0.5% Cu) have been intersected. Our understanding of the metal associations and metal zonation trends within the system have improved substantially, leading to a more robust model for the planning and targeting of future drill holes.

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Figure 4 | Imaged aeromagnetic data (analytic signal) showing Helix copper soil anomalies (yellow: +150ppm Cu, red: +500ppm Cu, refer JORC Table for survey details), location of historical drill holes (pale blue dots) and Manhattan drill holes (green dots) and the location of the interpreted three porphyry systems within the Joshua Project Area.

About the Joshua Copper Project

The Joshua Copper Project is located 350km north of Santiago in Chile’s coastal porphyry copper belt. The 50 sq.km project area has all-year-round access and is favourably situated at low altitude, and close to infrastructure including ports, rail, roads and possible power and water solutions for any future mining scenarios.

The Joshua porphyry copper system is characterised by a regionally significant alteration anomaly (6.5km by 2km), centered on a zone of surface copper mineralization, brecciation and silica-tourmaline alteration. The broad alteration response at Joshua is similar to that of the Andacollo Cu-Au porphyry deposit located 45km to the northwest of the Joshua Project and operated by North American mid-cap company Teck.

The Joshua porphyry system is defined by a series of clustered porphyry intrusions within a broad NE-trending envelope of variably altered (propylitic, phyllic, argillic and potassic) Cretaceous andesite.

Copper sulphide orebodies are characteristically found within the high chargeability (+15mV/V) envelope in many world-class porphyry systems. At Joshua, these zones of high chargeability also correlate with zones of high and moderate IP resistivity, and high (magnetite alteration) and low (magnetite destruction in phyllic alteration) zones of magnetism. The five planned holes are broad-spaced and are to be collared along a 2.7km-long, NE-trending section.

H E L I X R E S O U R C E S L I M I T E D 5

The Joshua system was discovered by Helix in 2011. Drilling returned a number of significant copper intercepts, including 352m at 0.27% Cu, 240m at 0.22% Cu and 400m at 0.25% Cu¹.

On the 1 August 2018, Helix and Manhattan Corporation Limited announced that Manhattan had met the final preconditions of an option agreement with Helix. Manhattan can earn up to an 80% interest in the Joshua Porphyry Copper Project by free-carrying Helix to a Bankable Feasibility Study on the Project. Helix can elect to contribute at delivery of the BFS (20% equity) or choose to dilute to a 1% net smelter royalty.

Key terms of the HOA

The HOA provides an avenue for Manhattan to earn up to an 80% interest in the Joshua Project in exchange for Helix being free-carried through to completion of a BFS.

Key terms of the HOA include:

• Stage 1: Helix has granted an option to Manhattan whereby Manhattan can exercise that option by sole funding expenditure of A$1.0 million on the Joshua Project within 9 months of the Commencement Date, such expenditure to be expended on 3,000m of diamond drilling ( Option ).

• If Manhattan exercises the Option by funding the requisite expenditure it shall have the right to earn up to an 80% interest in the Joshua Project on the following basis:

• Stage 2: Manhattan may earn a 51% Joint Venture Interest in the Joshua Project by sole funding the expenditure necessary to complete a further 5,000m of drilling within 18 months of the Commencement Date.

• Stage 3: If Stage 2 is completed, Manhattan may elect to earn a further 29% (giving it a total 80%) Joint Venture Interest by sole funding expenditure up to the completion of a BFS in respect of the Joshua Project.

• In the event that Helix chooses not to contribute to the Joint Venture after the completion of the BFS (Stage 3), it will dilute its Joint Venture Interest in exchange for an uncapped 1.0% Net Smelter Return royalty over the Joshua Project.

• Helix will be the Manager of the Joshua Project during Stage 1. Manhattan will be the Manager for Stages 2 and 3, unless Helix and Manhattan mutually agree that Helix is to be retained as Manager.

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Figure 5 | Helix’s Chilean Project Locations, Region IV, Chile.

H E L I X R E S O U R C E S L I M I T E D 6

Exploration Portfolio Rationalisation

The Joshua Project forms part of Helix’s ongoing portfolio rationalisation strategy, which includes the recently announced Samuel Project JV with JOGMEC (ASX announcement 3 September 2018) and the sale of the Company’s Yalleen iron ore interests earlier this year (ASX announcement 15 January 2018).

During 2018 Helix has successfully secured exploration funding for both of its large Chilean copper projects (Joshua and Samuel), with the potential for in excess of $6 million to be spent on exploration at these projects over the next two and a half years (should both farm-in parties fulfill all of their farm-in obligations under the respective agreements).

This rationalisation process has facilitated exploration funding for the potential advancement of these Chilean copper projects. The outcome so far enables Helix to be free carried on two of its three Chilean copper projects (whilst ultimately retaining the right to appropriate project equity) at the same time as permitting Helix to maintain its focus towards its flagship NSW copper projects.

- ENDS -

For further information:

Mick Wilson Managing Director mick.wilson@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 reviewed 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 and 2012 Editions 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 previous ASX announcements 10 August 2011, 28 March 2012, 8 June 2012, 17 December 2015, 6 February 2016, 1 August 2018 and 22 October 2018 on Helix’s website. Helix Resources is not aware of any new information or data that materially effects the information in this announcement

Forward-Looking Statements

This ASX release may include forward-looking statements. These forward-looking statements are not historical facts but rather are based on Helix Resources Ltd.’s current expectations, estimates and assumptions about the industry in which Helix Resources Ltd operates, and beliefs and assumptions regarding Helix Resources Ltd.’s future performance. Words such as “anticipates”, “expects”, “intends”, “plans”, “believes”, “seeks”, “estimates”, “potential” and similar expressions are intended to identify forward-looking statements. Forward- looking statements are only predictions and are not guaranteed, and they are subject to known and unknown risks, uncertainties and assumptions, some of which are outside the control of Helix Resources Ltd. Past performance is not necessarily a guide to future performance and no representation or warranty is made as to the likelihood of achievement or reasonableness of any forward-looking statements or other forecast. Actual values, results or events may be materially different to those expressed or implied in this presentation. Given these uncertainties, recipients are cautioned not to place reliance on forward looking statements. Any forward- looking statements in this announcement speak only at the date of issue of this announcement. Subject to any continuing obligations under applicable law and the ASX Listing Rules, Helix Resources Ltd does not undertake any obligation to update or revise any information or any of the forward-looking statements in this announcement or any changes in events, conditions or circumstances on which any such forward looking statement is based.

No new information that is considered material is included in this document. All information relating to exploration results has been previously released to the market and is appropriately referenced in this document. JORC tables are not considered necessary to accompany this document

H E L I X R E S O U R C E S L I M I T E D 7

JORC Code Table

Sampling Techniques and Data

Criteria	JORC Code explanation	JORC Code explanation	Commentary	Commentary
Sampling		Nature and quality of sampling (e.g. cut	Drilling
techniques		channels, random chips, or specific specialised		Chile-based commercial drilling contractors conducted the RC and DDH drilling
		industry standard measurement tools		(DV Drilling in 2011, 2012; TerraServices SA 2015) – a total of 16 holes for
		appropriate to the minerals under		5,504.2m Holes were orientated at various grid directions and were drilled at
		investigation, such as down hole gamma		dips of between 60-90°.
	  	sounds, or handheld XRF instruments, etc.). These examples should not be taken as limiting the broad meaning of sampling. Include reference to measures taken to ensure sample representivity and the appropriate calibration of any measurement tools or systems used. Aspects of the determination of mineralisation that are Material to the Public Report. In cases where ‘industry standard’ work has been done this would be relatively simple (e.g. ‘reverse circulation drilling was used to obtain 1 m samples from which 3 kg was pulverised to produce a 30 g charge for fire assay’). In	     	DV Drilling is conducting the DDH drilling - September to December 2018. Drill hole locations were determined using a hand-held GPS. No down-hole surveys were conducted. RC drill cuttings were collected in a cyclone and split on-site. First-pass sampling was conducted using 2m composites, followed in a few cases with subsequently resampling on 1m intervals. Diamond core was sampled on 2m intervals, taking half or quarter core as a first pass and then with follow-up sampling at various intervals (=/<1m) to better understand particular lithological metal associations. The samples were collected by either the Drilling Contractors (RC cuttings) and supervised at all times by Helix staff, or by Helix staff (diamond core). The samples were under the direct control of Helix staff at all times and were transported to the laboratory by Helix staff.
		other cases more explanation may be required,	Soils
		such as where there is coarse gold that has		Soil samples (315) were collected in 2013 for Helix by experienced contract
		inherent sampling problems. Unusual		samplers under the direction of CSA Global staff.
		commodities or mineralisation types (e.g.		Samples were collected at 200m intervals along lines 200m apart.
		submarine nodules) may warrant disclosure of		The samples were collected by digging and removing soil from shallow holes
		detailed information.		(~15cm deep). The soil from each sample pit was then sieved to minus 1mm
				and the recovered fraction analyzed by a licensed XFR Operator using a
				portable,hand-hand Olympus Delta XRF analyzer supplied from Australia by

Criteria	JORC	Code explanation	Commentary	Commentary
				CSA Global, specifically for the job.
				The QA/QC data collected over the course of the program indicate no issues
				were encountered with the analytical method and assay results.
				The data was collected and stored digitally in the field.
			Rock Samples (including Rock Chip Samples)
				Rock samples were collected by Helix staff.
				Each sample is a composite of approximately 5 pieces of rock collected within a
				3m radius of the recorded sample point to give a total sample weight of
				approximately 2kg to 3kg.
				The samples were secured in the company compound before being driven to
				the laboratory by Helix staff.
				At the laboratory, the samples were crushed and pulverised using industry
				standards.
				The laboratory’s standard QA/QC procedures were carried out.
Drilling		Drill type (e.g. core, reverse circulation, open-		RC (2011) and DDH (2012, 2015, 2018 – in progress) were the drilling methods
techniques		hole hammer, rotary air blast, auger, Bangka,		chosen.
		sonic, etc.) and details (e.g. core diameter,		The RC holes were drilled with a 150mm face-sampling hammer using industry
		triple or standard tube, depth of diamond tails,		practice drilling methods.
		face-sampling bit or other type, whether core is oriented and if so, by what method, etc.).		Diamond HQ and NQ drill core was collected using double tube and all other industry practice methods.
Drill sample		Method of recording and assessing core and		Sample weight and recoveries were observed during the drilling and any under-
recovery		chip sample recoveries and results assessed.		sized or over-sized drill samples were recorded.
		Measures taken to maximise sample recovery		Samples were checked by the geologist for volume, moisture content, possible
		and ensure representative nature of the		contamination and recoveries. Any issues were discussed with the drilling
		samples.		contractor.
		Whether a relationship exists between sample
		recovery and grade and whether sample bias
		may have occurred due to preferential
		loss/gain of fine/coarse material.

Criteria	JORC Code explanation	JORC Code explanation	Commentary	Commentary
Logging		Whether core and chip samples have been		A representative sample of the RC chips collected from each of the interval
		geologically and geotechnically logged to a		sampled were logged and then stored in chip trays for future reference.
		level of detail to support appropriate Mineral		The drill core was stored in core trays and comprehensively logged and
		Resource estimation, mining studies and		sampled.
		metallurgical studies.		RC chips and drill core were logged for lithology, alteration, degree of oxidation,
		Whether logging is qualitative or quantitative		fabric, colour and occurrence and type of sulphide mineralisation.
		in nature. Core (or costean, channel, etc.) photography.		All reference RC chips and drill core have been stored in the Helix secure compound in Ovalle, Chile.
		The total length and percentage of the relevant intersections logged.		Visual estimates of the proportion of sulphides: From systematic logging of NQ diamond drill core, the visual estimate of the total amount of sulphide
				(pyrite+chalcopyrite+molybdenite) in individual metre intervals ranges from
				0.01% to 5%. The relative proportion of each sulphide species present in each
				metre interval is estimated to range from absent to 50% of the total amount of
				sulphide present. The amount of sulphide and the relative proportions of the
				sulphide species from metre to metre are highly variable and a detailed estimate
				of this variability is not possible within the limits of acceptable accuracy. The
				metal grades of the core shall be determined by assay. The sulphides occur as
				disseminations and randomly oriented, penetrative veins. The veins range from
				0.1mm to 20cm thick. The sulphide is accompanied by one or more of the
				following gangue minerals in variable proportions: quartz, albite, chlorite,
				sericite, epidote and tourmaline. The visual estimates are estimates only and fine
				sulphide may be under-estimated, if present. Identification of the sulphide
				species and visual estimates of the proportions of those sulphide species
				present have been made by two geologists with more than 25 years experience
				each in porphyry copper mineralisation.
			
Sub-		If core, whether cut or sawn and whether		The preparation of DDH and RC samples follow industry practice. This involves
sampling		quarter, half or all core taken.		oven drying, pulverization of total sample using LM5 mills until 85% passes 75
techniques		If non-core, whether riffled, tube sampled,		micron.
and sample		rotary split, etc. and whether sampled wet or		The laboratory’s standard QA/QC procedures were carried out.
preparation		dry.		The sample sizes are considered appropriate to thegrain size of the material

Criteria	JORC Code explanation	JORC Code explanation	Commentary	Commentary
		For all sample types, the nature, quality and		being sampled.
		appropriateness of the sample preparation		Repeatability of assays was assessed and considered well with the tolerance
		technique.		limits for the style of mineralisation under investigation.
		Quality control procedures adopted for all
		sub-sampling stages to maximise
		representivity of samples.
		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 beingsampled.
Quality of		The nature, quality and appropriateness of the		All assays were conducted at accredited assay laboratories in Santiago, Chile
assay data		assaying and laboratory procedures used and		(2011, 2012, 2018 – planned): Andes Analytical Assay AAA; 2015 ALS Chemex).
and		whether the technique is considered partial or		The analytical technique used for base metals was a mixed acid digest with an
laboratory		total.		MS determination of metal concentrations. Gold was assayed by fire assay and
tests		For geophysical tools, spectrometers,		aqua regia methods.
		handheld XRF instruments, etc., the		Laboratory QA/QC samples involving the use of blanks, duplicates, standards
		parameters used in determining the analysis		(certified reference materials) and replicates as part of in-house procedures.
		including instrument make and model, reading times, calibrations factors applied and their derivation, etc.		Helix and Manhattan are not aware of any new information or data that materially effects the information in these announcements.
		Nature of quality control procedures adopted
		(e.g. standards, blanks, duplicates, external
		laboratory checks) and whether acceptable
		levels of accuracy (i.e. lack of bias) and
		precision have been established.
Verification		The verification of significant intersections by		Results have been verified by Helix Company management.
of sampling		either independent or alternative company		Geological data was collected using handwritten log sheets, which detailed
and assaying		personnel.		geology (weathering, structure, alteration, mineralisation), sample quality,
		The use of twinned holes.		sample interval, sample number and QA/QC inserts (standards, duplicates,

Criteria	JORC Code explanation	JORC Code explanation	Commentary	Commentary
		Documentation of primary data, data entry		blanks) into the numbering sequence. This data, together with the assay data
		procedures, data verification, data storage		received from the laboratory, and subsequent survey data were entered into a
		(physical and electronic) protocols.		secure Access databases and verified.
		Discuss anyadjustment to assaydata.
Location of		Accuracy and quality of surveys used to locate		The drill collar positions were determined using a GPS (±5m).
data points		drill holes (collar and down-hole surveys),		Grid system is WGS-84 Zone 19S.
	 	trenches, mine workings and other locations used in Mineral Resource estimation. Specification of the grid system used. Qualityand adequacyof topographic control.	  	Surface RL data collected using GPS. Variation in topography is approximately 400m within the drill zone. All drill pads are also visible on Google Earth images.
Data spacing		Data spacing for reporting of Exploration		Drill holes were positioned to test specific parts of a porphyry copper system
and		Results.		and designed to intersect rocks lying beneath either anomalous surface features
distribution		Whether the data spacing and distribution is		such as rock alteration (silica, tourmaline, sericite, chlorite, magnetite, clay)
		sufficient to establish the degree of geological		and/or high metal concentrations (copper, molybdenum), or IP anomalies (zones
		and grade continuity appropriate for the		of high resistivity and/or chargeability).
		Mineral Resource and Ore Reserve estimation		No drilling had been conducted by anyone on the Joshua Project prior to Helix
		procedure(s) and classifications applied.		commencing drilling operations in 2011.
		Whether sample compositing has been		Three phases of drilling have subsequently been conducted (#1: RC in 2011 #2:
		applied.		diamond drilling in 2012, #3: diamond drilling in 2015).
				The drilling planned for Sept to Dec 2018 (in progress) and will be conducted in
				a manner consistent with the procedures set out in this JORC table.
				Drilling phases 1 & 2 were conducted for Helix. Phase 3 was completed by IMG
				Contractors on behalf of EPG Partners as part of an Option Agreement to earn
				an interest in the Joshua Project (since expired). Helix supervised this drilling.
				Phase 4 drilling (Sept to Dec 2018) is being supervised by Helix for Manhattan
				Corporation Limited as part of an Option Agreement.
Orientation		Whether the orientation of sampling achieves		Surface sampling and the position of the drill holes and sampling techniques
of data in		unbiased sampling of possible structures and		and intervals are considered appropriate for the early-phase exploration of a
relation to		the extent to which this is known, considering		large porphyry system with bulk-tonnage copper sulphide potential.
geological		the deposit type.		The distribution of copper is known to be variablyenriched and depleted within

Criteria	JORC Code explanation	JORC Code explanation	Commentary	Commentary
structure		If the relationship between the drilling		an overall porphyry copper system. The relatively small area drilled to date
		orientation and the orientation of key		(700m by 600m) is not sufficient to suggest a positive or negative bias, and the
		mineralised structures is considered to have		large hydrothermal system at Joshua, as defined by the ASTER alteration
		introduced a sampling bias, this should be		mapping (6.5km by 2km), has yet to be fully investigated on the ground because
		assessed and reported if material.		of the large areal extent of the system.
Sample		The measures taken to ensure sample security.		Chain of Custody is managed by Helix staff and its contractors. The samples
security				were freighted directly to the laboratory with appropriate documentation listing
				sample numbers, sample batches, and required analytical methods and element
				determinations.
Audits or		The results of any audits or reviews of		No additional QA/QC has been conducted for the drilling to date.
reviews		samplingtechniques and data.
Section 2 Reporting of Exploration Results
(Criteria listed in thepreceding section also apply to this section.)
Criteria	JORC Code explanation		Commentary
Mineral		Type, reference name/number, location and		The Joshua Project is located on concessions Joshua 1-17. Helix owns the
tenement and		ownership including agreements or material		project 100%, with Manhattan having the right to earn an interest in the project
land tenure		issues with third parties such as joint		of up to 80% by delivering a Bankable Feasibility Study.
status		ventures, partnerships, overriding royalties,		The mineral concessions are in good standing and payment of statutory fees is
		native title interests, historical sites,		managed for Helix and Manhattan by a Land Management Consultant in
		wilderness or national park and		Santiago, Chile.
		environmental settings.		This is no statutory, minimum, annual expenditure commitment for exploration
		The security of the tenure held at the time		and mining titles in Chile.
		of reporting along with any known impediments to obtaining a licence to operate in the area.	 	There are no known impediments to operating in this area. The drill area is situated at a relatively low altitude for Chile (<1800m) and can be accessed allyear round.

Criteria	JORC Code explanation	JORC Code explanation	Commentary	Commentary
Exploration		Acknowledgment and appraisal of		No previous modern exploration has occurred at Joshua prior to Helix’s
done by other		exploration by other parties.		involvement commencing in 2010.
parties				A number of small artisanal mines and working are present throughout the
				district.
Geology		Deposit type, geological setting and style of		The project is considered to be prospective for copper (gold-molybdenum)
		mineralisation.		porphyry-style mineralisation.
Drill hole		A summary of all information material to the		Refer to Helix’s previous announcements dated 10 August 2011, 28 March
Information		understanding of the exploration results		2012, 8 June 2012, 17 December 2015 and 6 February 2016.
		including a tabulation of the following		Helix and Manhattan are not aware of any new information or data that
		information for all Material drill holes:		materially effects the information in these announcements.
		If the exclusion of this information is		A portion of the results have been included in this announcement as indicative
		justified on the basis that the information is		of previous drilling results for information purposes only.
		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.		The zoned to be drilled under the auspices of the Manhattan Option Agreement will be 1) step-outs from earlier mineralised drill intercepts, and 2) the testing of new anomalous zones (IP anomalies, surface geochemical anomalies, alteration anomalies) within the much broader Joshua porphyry
				system.
Data		In reporting Exploration Results, weighting		Refer to Helix’s previous announcements dated 10 August 2011, 28 March
aggregation		averaging techniques, maximum and/or		2012, 8 June 2012, 17 December 2015 and 6 February 2016.
methods		minimum grade truncations (e.g. cutting of		Helix and Manhattan are not aware of any new information or data that may
		high grades) and cut-off grades are usually		materially effects the information in these announcements.
		Material and should be stated.
		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

Criteria	JORC Code explanation	JORC Code explanation	Commentary	Commentary
		stated.
Relationship		These relationships are particularly		The drilling was initially designed to ‘prove concept’ that a large, porphyry
between		important in the reporting of Exploration		copper system is present at Joshua.
mineralisation		Results.		The geology (lithological associations, metal associations, alteration zonation
widths and		If the geometry of the mineralisation with		patterns) has been determined to be consistent with that of a large porphyry
intercept		respect to the drill hole angle is known, its		system.
lengths		nature should be reported.		The initial three phases of drilling (2011, 2012, 2015) were also designed to
		If it is not known and only the down hole		investigate the potential for copper mineralisation beneath the outcropping
		lengths are reported, there should be a clear		copper exposed in the silica cap and hydrothermal breccias on surface.
		statement to this effect (e.g. ‘down hole		Porphyry copper systems are generally broad in all dimensions and mineralised
		length, true width not known’).		drill intercepts are generally treated as true-widths given the size of the system
				and the pervasive nature of the mineralisation (100’s of metres wide and thick).
Diagrams		Appropriate maps and sections (with scales)		Refer to Figure 2, 3 and 4 in MHC ASX announcement titled: Manhattan Signs
		and tabulations of intercepts should be		Landmark Agreement on Joshua Copper Project dated 8 June 2018.
		included for any significant discovery being		Manhattan is not aware of any new information or data that materially effects
		reported These should include, but not be		the information in these announcements.
		limited to a plan view of drill hole collar
		locations and appropriate sectional views.
Balanced		Where comprehensive reporting of all		Refer to Helix’s previous announcements dated 10 August 2011, 28 March
reporting		Exploration Results is not practicable,		2012, 8 June 2012, 17 December 2015 and 6 February 2016.
		representative reporting of both low and		Helix and Manhattan are not aware of any new information or data that
		high grades and/or widths should be		materially effects the information in these announcements.
		practiced to avoid misleading reporting of
		Exploration Results.
Other		Other exploration data, if meaningful and		ASTER: PhotoSat Information Ltd conducted the remote-sensing mineral
substantive		material, should be reported including (but		alteration study in March 2018. ASTER (Advanced Spaceborne Thermal Emission
exploration		not limited to): geological observations;		and Reflection Radiometer) is an imaging instrument flying on Terra, a satellite
data		geophysical survey results; geochemical		launched in December 1999 as part of NASA’s Earth Observation System. Band
		survey results; bulk samples – size and		widths in the Visible to Near-Infrared, Shortwave Infrared and Thermal Infrared
		method of treatment; metallurgical test		are measured. Diagnostic combinations (ratios) of these bands are then used to
		results; bulk density, groundwater,		characterize and mapthe areal extend of Iron Oxide,Hydroxyl,Kaolinite-

Criteria	JORC Code explanation	JORC Code explanation			Commentary	Commentary
		geotechnical and	rock	characteristics;		Alunite, Sericite and Silica alteration zones.
		potential deleterious or		contaminating		Induced Polarisation (IP) Survey:A pole-dipole IP survey was conducted for
		substances.				Helix by Quantec Geoscience in 2011. The data was collected on 100m centres
						along E-W lines spaced 200m apart using Industry best practices for data
						collection and processing.
						Aeromagnetics:A drone-borne aeromagnetic survey was conducted by GFDas
						Geofisica UAV over an area of approximately 25sq. km. in August 2018 for Helix
						as part of the Manhattan Option work program. The drone was fitted with a
						fluxgate magnetometer. Flight lines: N-S and 50m apart. Tie-lines: E-W and
						1000m apart. The survey was designed to cover the entire ASTER alteration
						anomaly. Elevation difference across the survey area: 850m. Total flight lines:
						approx. 500km. Average altitude: 1,200m. System Name: GeoMagDrone™. The
						data has been imaged by Southern Geoscience Consultants in Perth, Western
						Australia.
Further work		The nature and scale of planned further				Manhattan is funding a minimum A$1m program to deliver 3,000m of DDH
		work (e.g. tests for	lateral extensions or			drilling at Joshua targeting new areas surrounding the previous work
		depth extensions or	large-scale step-out			conducted by Helix.
		drilling).				The drilling program commenced in September 2018 and will take
		Diagrams clearly highlighting the areas of				approximately 3 months to complete.
		possible extensions,	including the main			Drill core assay results will be received progressively during the drilling program
		geological interpretations and future drilling				and it is anticipated that all results will be received before the end of 2018.
		areas, provided this information is not commercially sensitive.				Refer to Manhattan announcements dated 8 June 2018, 26 June 2018, 1 August 2018, 3 September 2018 and 7 September 2018 for additional information.
						Manhattan is not aware of any new information that materially changes the
						results and information reported in these announcements.