HELIX RESOURCES LIMITED — Capital/Financing Update 2018

Aug 30, 2018

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ASX ANNOUNCEMENT
31 August 2018
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Initial Exploration RC Drilling at Helix’s Yathella Copper Prospect

Highlights

	An initial reconnaissance exploration RC drill program at the Yathella Copper Prospect
	consisting of a minimum of four holes is planned to commence this weekend following the
	securing of a drill rig to undertake the program.
	The reconnaissance drill program is designed to provide an initial test of the coincident
	geochemical and geophysical targets at Yathella.
	The drill holes will be prioritised for downhole EM (DHEM) surveying to establish the geometry
	of the geological target.
	Yathella shows considerable similarities to the Collerina Copper Deposit including:
	 Geochemistry:Discrete and robust copper-in-soil anomalism (peak soil 0.13% Cu) over
	250m x 250m, remaining open in several directions.
	 Geophysics: A coincident airborne EM (VTEM) and fixed loop EM (FLEM) anomaly
	returning similar EM response to the Collerina Deposit.
	 Geology:A favourable pre-cursor geological setting for base metal accumulation.

Helix Resources Limited (ASX:HLX) ( Helix or the Company ) is pleased to advise that an initial reconnaissance exploration drilling program is planned to commence this weekend at the Yathella Copper Prospect.

The Yathella Copper Prospect is a regional exploration target within the Company’s Collerina Copper Project in Central NSW, located approximately 6km northwest of the Collerina Copper Deposit and situated along the prospective Collerina Copper Trend (refer to Figure 1).

Yathella shows considerable similarities to the Collerina Copper Deposit including a discrete and robust copper-in-soil geochemical anomaly (peak soil 0.13% Cu) over 250m x 250m which remains open in several directions (refer to Figure 2).

The prospect’s surface geochemistry is coincident with airborne EM (VTEM) and fixed loop EM (FLEM) geophysical anomalies which return similar EM responses to the anomalies observed at the Collerina Copper Deposit. Both the surface geochemical and geophysical features are interpreted to relate to a favourable pre-cursor geological setting for potential base metal accumulation.

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

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Figure 1: Yathella Copper Prospect, located on the Collerina Copper Trend 6km NW from the Collerina Copper Deposit

The reconnaissance drill program is planned to consist of a minimum of four RC holes designed to test coincident geochemical and geophysical targets at Yathella. These holes will be prioritised for downhole EM (DHEM) surveying in order to assist in establishing the 3-dimensional geometry of the exploration target. The exploration drilling will represent the first drill test of basement lithologies at Yathella.

Drilling is expected to commence over the weekend.

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Figure 2: Coincident geophysical and geochemical anomalism at the regional Yathella Copper Prospect

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Managing Director Mick Wilson said: “We are excited to be testing the Yathella Copper Prospect with RC drilling. There are encouraging signs that further copper-bearing mineral systems may exist within the fertile Collerina Copper Trend. Yathella has emerged as one of several possible targets, being only 6 km from our flagship Collerina Deposit. This RC drilling will provide important geological and structural information following up the oxide copper intersected at Yathella, in a single shallow scout hole drilled above the VTEM anomaly in May” (refer ASX announcement 17 May 2018).

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Figure 3: Location of Helix’s projects in the Central West Region of NSW

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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

For full details of exploration results refer to previous ASX announcements on Helix’s website. Helix Resources is not aware of any new information or data that materially effects the information in this announcement

¹ For full details of exploration results refer to the ASX announcements dated 4 February 2015, 29 June 2016, 1 December 2016, 3 August 2017, 8 November 2017, 14 February 2018, 27 February 2018, 5 April 2018, 14 May 2108 and 13 June 2018. Helix Resources is not aware of any new information or data that materially effects the information in these announcements.

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 forwardlooking 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.

APPENDIX 1:

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Figure 4: Original Collerina copper in soil anomaly and moving loop EM plate prior to discovery

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