HELIX RESOURCES LIMITED — Investor Presentation 2021

Nov 23, 2021

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ASX Announcement 24 November 2021

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INVESTOR PRESENTATION

Helix Resources Limited (ASX: HLX) (“Helix” or “the Company”) is pleased to announce that Managing Director, Mike Rosenstreich is participating in the on-line 121 Mining Investment conference speaking with investors from Europe, Middle East and North America.

Attached is the presentation that he is speaking to at the conference.

This ASX release was authorised by the Company Secretary of Helix Resources Ltd.

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HLX

ABN: 27 009 138 738

ASX: HLX

Contact Details:

Helix Resources Limited 78 Churchill Avenue, SUBIACO, WA, 6008

Board of Directors:

Peter Lester Non-Executive Chairman Tim Kennedy Non-Executive Director Jason Macdonald Non-Executive Director Mike Rosenstreich Managing Director

Company Secretary

Ben Donovan

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PO Box 825 West Perth, WA, 6872

Email: helix@helixresources.com.au Web: www.helixresources.com.au Tel: +61 (0)8 9321 2644

Investor/Media Contacts:

Mike Rosenstreich Tel: +61 (0)8 9321 2644 Email: helix@helixresources.com.au

David Tasker Chapter One Advisers Email: dtasker@chapteroneadvisors.com.au Tel: 0433 112 936

Corporate Office 78 Churchill Avenue Subiaco WA 6008 www.helixresources.com.au

T +61 8 9321 2644 E helix@helixresources.com.au

(ASX:HLX)

High-Grade Cobar Copper to Power a Cleaner World

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121 Mining Investment EMEA 23-25 November 2021

IMPORTANT NOTICES

This presentation has been authorised by the Board of Helix Resources Limited

Competent Persons Statement

The information in this report that relates to exploration results, Mineral Resource estimates and geological data for the Cobar projects is based on information generated and compiled by Mr Gordon Barnes and Mr Mike Rosenstreich who are both employees and shareholders of the Company. Mr Barnes is a Member of the Australian Institute of Geoscientists and Mr Rosenstreich is a Fellow of the Australasian Institute of Mining and Metallurgy. They both have sufficient experience that is relevant to the styles of mineralisation and types of deposits under consideration and to the activities being undertaken to each qualify as Competent Person(s) as defined in the 2012 Edition of the “Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves”. Mr Barnes and Mr Rosenstreich have consented to the inclusion of this information in the form and context in which it appears in this report.

Disclaimer

This presentation has been prepared by Helix Resources Limited (“Company”). The presentation does not contain all the information that a prospective investor may require about the companies, their business or the proposal. It is not a complete statement of material information. Except where stated, the information disclosed in this presentation (“Information”) relates to the proposed business of the Company at the date of this document. This presentation does not contain advice relating to legal, taxation or investment matters. The Company makes no representation or warranty (express or implied) as to the accuracy, reliability or completeness of the Information. The Company and its subsidiaries, directors, employees, agents and consultants shall have no liability (including liability to any person by reason of negligence or negligent misstatement) for any statements, opinions, information or matters (express or implied) arising out of, contained in or derived from, or for any omissions from this presentation, except liability under statute that cannot be excluded.

This presentation does not contain an offer of securities in a Company, nor an invitation to apply for such securities. Nothing in this document should be construed as investment advice or financial product advice, whether personal or general, for the purposes of Section 766B of the Corporations Act. The document does not involve or imply a recommendation or a statement of opinion in respect of whether to buy, sell or hold a financial product. You should obtain professional advice and carry out your own independent investigations and assessment of the Information before acting.

Forward Looking Statements

This presentation may include forward-looking statements. These forward-looking statements are not historical facts but rather are based on Helix Resources Limited’s (Helix) current expectations, estimates and assumptions about the industry in which Helix operates, and beliefs and assumptions regarding Helix’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. 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 presentation speak only at the date of issue of this presentation. Subject to any continuing obligations under applicable law and the ASX Listing Rules, Helix does not undertake any obligation to update or revise any information or any of the forward-looking statements in this presentation or any changes in events, conditions or circumstances on which any such forward looking statement is based.

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INVESTMENT SNAPSHOT

WELL FUNDED, STRONG ASSETS, NEW TEAM – CLEAR STRATEGY

High-grade Copper Hits Around Existing HLX Deposits[1]

• Canbelego – 18m at 3.4% copper – extending mineralisation

• CZ – 7m at 2.8% copper (from 34m DH) - outlining new zones

• Lots of assays to come – drilling is ongoing

Strategic, Under-explored Regional Copper Trends

• High priority regional copper targets

• Major high-grade copper operations & discoveries ‘along strike’ to the north onto Aeris Resources’ (ASX:AIS) ground

• 120 ‘strike-km’ of under-explored prospective copper trends

Cobar Is A World-leading Mining Neighbourhood

• Cobar – well endowed copper (& gold) province

• Exceptional infrastructure with towns, airport, roads, water, power, telecoms and processing options within 75km

Highly Positive Copper Demand Outlook

• Copper is an essential metal for energy transformation

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Cobar, NSW
Sydney
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1 – Refer Appendix A

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CORPORATE SNAPSHOT

ASX CODE	HLX	12	MONTH SHARE PRICE &	MONTH SHARE PRICE &	MONTH SHARE PRICE &	MONTH SHARE PRICE &	MONTH SHARE PRICE &	MONTH SHARE PRICE &	MONTH SHARE PRICE &	MONTH SHARE PRICE &	MONTH SHARE PRICE &	MONTH SHARE PRICE &	DAILY VOLUME GRAPH	DAILY VOLUME GRAPH	DAILY VOLUME GRAPH	DAILY VOLUME GRAPH	DAILY VOLUME GRAPH
		0.06																700
Share price ( 10th Nov 21 close) Shares (listed) Options & Performance Rights (unlisted)	$0.017 1,258M 42.5M	0.01 0.02 0.03 0.04 0.05																100 200 300 400 500 600	Millions
Market Cap.	$21.4M	0																0
Cash (30thSept 21)	$3.72M
						Volume										Close
MAJOR SHAREHOLDERS	%	BOARD OF DIRECTORS (REFER APPENDIX B)
Yandal Investments Pty Ltd	4.1%	Peter Lester															Non-Executive Chairman
BNP Paribas Noms Pty Ltd	2.6%	Mike Rosenstreich															Managing Director
Directors & Management	2%	Tim Kennedy															Non-Executive Director
Top 20	27%	Jason Macdonald															Non-Executive Director
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EXECUTING THE HELIX STRATEGY Copper, Cobar, Funded, Focused on a Development Pathway

LOOKING BACK ON 2021 SO FAR…..

Advanced Projects

• Completed ~3,500m in 25 drill holes across 2 advanced projects – CZ & Canbelego

• Hit copper in nearly all holes

Regional Targets

• Increased airborne EM (VTEM) coverage from 20 strike-km to 120 strike-km

• 24 high-priority regional targets generated

• Advancing the Quanda, Five ways and Bijoux prospects

• Increased land position by ~200km[2] and acquired a significant Ni-Co Mineral Resource[1]

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Cobar, NSW
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New Team, locally based

• Established Exploration base in Orange NSW

• Replaced the entire exploration team – now all based in Orange

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Sydney
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Well capitalised

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1 Refer ASX Report 28 September 2018 from Alpha HPA, formerly Collerina Cobalt Ltd

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ENDEAVOR LEAD/ZINC [4]
COBAR REGION METAL
C&M
ENDOWMENT Sandfire (ASX:SFR) JV
FOCUSED ON THE COBAR REGION, NSW TRITTON COPPEROPERATIONS [1]
25kt Cu pa
CSA MINE [2]
49.9kt Cu pa
Major regional mineralised MT BOPPY GOLD [5]
trends hosting: Planned - 24koz Au
 Production hubs PEAK GOLD
OPERATIONS [3]
― 46.6koz Au, 12.1kt Pb,
Glencore (LSE:GLEN)
6.7kt Zn, 6.3kt Cu pa
―
Aeris (ASX:AIS)
―
Aurelia (ASX:AMI)
HERA GOLD/BASE
― Manuka (ASX:MKR) METALS [3]
45koz Au pa

Emerging producers
― Peel Resources (ASX:PEX) PEEL RESOURCES/BASE
METALS [7]
― Metal Endowment 134kt Cu, 295kt
Quintana Resources (pvt.)
Zn, 145kt Pb, 20Moz Ag, 267koz Au
(May Day, Mallee Bull, Wagga Tank,
―
Southern Nights and Wirlong)
Helix Resources (ASX:HLX)
QUINTANA MINERAL HILL
GOLD/BASE METALS [6]
74kt Cu, 85kt Pb, 42kt Zn,
6Mpz Ag, 267koz Au
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Refer Appendix C for details and data sources.

COPPER IN COBAR – UNTESTED REGIONAL POTENTIAL

EXISTING MINERAL RESOURCES UNDERPINNED BY HIGH-PRIORITY COPPER TARGETS IDENTIFIED ON MAJOR REGIONAL TRENDS

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2
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Two main tenement groups: ~1,500km[2] Three Major regional scale copper trends:

1. Rochford Trend – 30 km

• –

• Canbelego copper (gold) deposit[1] 1.5Mt at 1.2% Cu (JORC 2004)

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3
1
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2. Collerina Trend – 65 km

• The Central Zone (CZ) Mineral Resource[1] of 2Mt at 2% Cu[1]

3. Meryula Trend – 25 km

• Earlier stage Cu (+Pb/Zn) targets

“EM finds copper in Cobar”

In March 2021, regional EM coverage increased from ~25km to ~120km of prospective copper trends.

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1 – Refer Appendix A for details

1. WEST BLOCK - ROCHFORD TREND

EXTENDED MINERALISATION & NEW REGIONAL TARGETS

Advanced Project:

• Canbelego copper deposit – 1.5Mt at 1.2% Cu (JORC 2004)

• 70:30 co-funded JV with Aeris Resources

• (ASX:AIS). HLX – 70% & Manager

Regional Targets:

• 10 High-priority targets identified, including:

• Canbelego Extensions – North & South

• Possible extensions and repeats of the Canbelego deposit

• Bijoux Prospect – significant anomalous drill intercepts

Hole ID
	Interval	Cu(ppm)
BJRC003	10-38m	2,200
BJRC004	10-26m	1,586

• Little Boppy – high priority regional VTEM targets

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1 – Refer Appendix A ‘Mineral Resources’ for details

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1. ROCHFORD TREND

CANBELEGO - OPPORTUNITIES TO EXTEND DEPOSIT IN ALL DIRECTIONS

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• Copper mineralisation intersected in all five diamond drill holes (CANDD001 - CANDD005)

• Assay results confirm extensions to the existing mineralisation with highlights including:

• 11m at 1.1% Cu from 270m (CANDD001)

• 18m at 3.4% Cu , including 14m at 4.4% Cu (CANDD002)

• 6m at 1.26% Cu from 286m (CANDD003)

• 5m at 1.43% Cu from 286m (CANDD003)

• 10m at 1.6% Cu from 298m (CANDD003), including 5m at 2.67% Cu

• 1m at 6.98% Cu from 272m (CANDD004)

• 3m at 1.22% Cu from 69m and 2m at 1.09% Cu from 443m (CANDD005)

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1 – Refer Appendix A ‘Mineral Resource Estimates’ for details

1. ROCHFORD TREND

CANBELEGO – POISED FOR FURTHER GROWTH

Canbelego Extensions

• Down-dip - DHEM surveying of CANDD005 identifies large conductive anomaly possibly indicating extension of the high-grade copper zone in CANDD002.

Canbelego Repetitions

• VTEM highlighted potential repetitions to the North, Northeast and South of Canbelego Mineral Resource[1]

• Well supported by strong copper surface geochem

Follow-up work planned:

• Surface EM – North, South & Northeast targets

• Resource focussed diamond drilling

• Surface geochem sampling

• Drill traverses across target zones

• Metallurgical testwork

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1 – Refer Appendix A ‘Mineral Resource Estimates’ for details

2. EAST BLOCK - THE COLLERINA TREND

EXTENDED MINERALISATION & NEW REGIONAL TARGETS

Advanced Project:

• CZ copper (gold) deposit[1] – 2.0Mt at 2.0% Cu & .1 g/t Au

• 100% Helix

• Drilling in progress / high-grade copper assays

Regional Targets:

8 High priority targets identified including:

 Quanda Area

• Largely untested area with historic workings and prospective geology – re-ranked with high confidence EM anomalies

 Honeybugle Area

• Largely untested area with prospective surface geochem – re-ranked with high confidence EM anomalies

 Fiveways

• Subtle conductors, north on trend from Mt Royal and

• Carolina copper deposits (Locksley Resources (ASX:LKY))

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1 – Refer Appendix A ‘Mineral Resource Estimates’ for details

2. THE COLLERINA TREND

CZ COPPER (& GOLD ) DEPOSIT[1]

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Draft – being Updated
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• New, shallow, high-grade ‘oxidecopper’ zone intersected

• Drilled over 100m and is open to the southeast

Results include:

• 7m at 2.64% Cu & 1.18 g/t Au within 25m at 0.94% Cu from 20m

• 7m at 2.83% Cu within 30m at 0.86% Cu from 14m

• 3m at 2.74% Cu within 8m at 1.17% Cu from 32m

• CZ Mineral Resource[1] - zones of

massive sulphides intersected in diamond drillholes with copper and zinc minerals observed

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1 – Refer Appendix A for Mineral Resource details

2. THE COLLERINA TREND

DRILLING IN PROGRESS, ASSAYS PENDING FROM CZ

Diamond drilling

• Massive sulphides - from 102.3m to 105.5m comprising stratiform fine-grained pyrite and chalcopyrite (CODD0134 101.5m to 106.2m)

• Assays pending

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2. THE COLLERINA TREND –

65 STRIKE-KM ‘UNDER-EXPLORED’ Strong analogies with AIS’s Kurrajong & Constellation discoveries, north along trend

Follow-up work planned:

• Surface EM – Quanda & Fiveways

• Approved, regional scale auger-soil program over 40 strikekm of copper trend

• Resource focussed diamond drilling ( in progress )

• Drill traverses across new target zones

• Metallurgical testwork – CZ core

• Geological modelling of Mineral Resource – New Model

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2. THE COLLERINA TREND –

Ni-Co Mineral Resource[1] acquired as part of JV rationalisation Ni & Co assets complimentary to historical HLX regional Ni-Co results

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“Value-add’ for HLX:

• Transaction rationalised pre-existing Royalty and JV obligations and added prospective copper ground

• HLX now owns a ‘high-grade’ lateritic Ni-Co Mineral Resource - Homeville

• Ni-Co are critical ‘energy-metals’ -along with copper

• High-grade regional Ni & Co drill results indicate potential for resource growth

• Preliminary metallurgical testwork indicates high Ni & Co recoveries at atmospheric pressure and std temperatures i.e. ‘benign metallurgy’

• Seeking ‘Ni & Co focused’ investment partners

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1 – Refer ASX Report 28 September 2018 from Alpha HPA Ltd (formerly Collerina Cobalt Ltd

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COBAR EXPLORATION OVERVIEW – 6 MONTHS

EXPLORATION MOMENTUM – A SYSTEMATIC PIPELINE OF WORK AND NEWS FLOW

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CORPORATE PERSPECTIVES – INVESTMENT SUMMARY

A COMPELLING AUSTRALIAN COPPER EXPLORATION OPPORTUNITY

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• Well funded – executing a strong ‘drill-based’ program

• Defined copper resources – open ended growth potential; as just demonstrated with drilling at Canbelego & CZ

• Consistently delivered high-grade copper drill intercepts

• Identified significant, new copper regional copper targets

• New, focused exploration & management team, with new strategy – already generating positive results

• Strong long-term copper demand outlook

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CONTACT

MIKE ROSENSTREICH Managing Director Helix@helixresources.com.au 78 Churchill Avenue, Subiaco WA 6008 PO Box 825, West Perth WA 6872 T: +61 8 9321 2644 helixresources.com.au ASX:HLX

APPENDIX A - MINERAL RESOURCE ESTIMATES

Collerina Copper CZ (June 2019) (0.5% Cu cut-off)

Classification	Type	Tonnes	Copper	Gold	Contained Copper	Contained Gold
		Mt	%	g/t	t	Oz
Indicated	Oxide/Transition	0.17	1.1	0.0	1,900	200
Inferred	Oxide/Transition	0.46	0.6	0.0	2,700	100
Total	Oxide/Transition	0.63	0.7	0.0	4,600	300
Indicated	Fresh	0.83	2.6	0.2	21,800	6,600
Inferred	Fresh	0.57	2.5	0.1	14,100	2,500
Total	Fresh	1.40	2.6	0.2	35,800	9,100
Indicated	Oxide/Transition	0.17	1.1	0.0	1,900	200
Indicated	Fresh	0.83	2.6	0.2	21,800	6,600
Inferred	Oxide/Transition	0.46	0.6	0.0	2,700	100
Inferred	Fresh	0.57	2.5	0.1	14,100	2,500
Total	Combined	2.02	2.0	0.1	40,400	9,400

(Rounding discrepencies may occur in summary tables)

Canbelego* (October 2010) (0.5% Cu cut-off)

Classification	Type	Tonnes	Copper	Gold	Contained Copper	Contained Gold
		Mt	%	g/t	t	Oz
Inferred	Oxide/Transition/Fresh	1.50	1.2	N/A	18,000	N/A
Total	Combined	1.50	1.2	N/A	18,000	N/A

Cobar Gold (November 2019) (0.4g/t Au cut-off)

Deposit	Classification	Type	Tonnes	Gold	Contained Gold
			Mt	g/t	Oz
Sunrise	Inferred	Oxide/Transition	1.58	1.1	56,400
Good Friday	Inferred	Oxide/Transition	0.45	0.9	13,700
Boundary	Inferred	Oxide/Transition	1.54	0.9	42,800
Battery Tank	Inferred	Oxide/Transition	0.18	1.0	5,900
Total			3.75	1.0	118,800

(Rounding discrepencies may occur in summary tables)

All resources are reported as JORC2012 compliant, unless stated otherwise

NO CHANGE - Helix confirms that it is not aware of any new information or data that has not been reported which materially affects the information included in its ASX releases dated 11 June 2019 and 7 November 2019. All material assumptions and technical parameters underpinning the estimates in those releases continue to apply and have not materially changed.

(Rounding discrepencies may occur in summary tables)

• JORC 2004 Compliant Resource: For full details regarding estimation methodologies please refer ASX announcement on 7 October 2010 – reported as 100% of deposit

COLLERINA ASX EXPLORATION REPORTS - For full details of exploration results refer to Helix ASX releases 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, 13 June 2018, 18 July 2018, 16 November 2018, 10 December 2018, 11 June 2019, 17 November 2019, 4 December 2019, 14 January 2020, 24 March 2020, 2 April 2020, 28 September 2020,15 February 2021, 9 March 2021, 23 March 2021, 30 September 2021 14 October 2021 and 4 November 2021 . Helix is not aware of any new information or data that materially effects the information in these announcements.

CABELEGO ASX EXPLORATION REPORTS - For full details of exploration results refer to the ASX announcements 3 May 2021, 12 May 2021, 31 May 2021, 3 June 2021, 23 June 2021, 21 July 2021, 12 August 2021. Helix Resources is not aware of any new information or data that materially effects the information in these announcements.

COBAR GOLD ASX EXPLORATION REPORTS - For full details of exploration results refer to the ASX announcements 25 Nov 2010, 22 Feb 2011, 24 May 2011, 13 July 2011, 17 Aug 2011, 4 Oct 2012, 24 Jan 2017, 26 Apr 2017, 17 Jul 2017, 23 Aug 2017, 6 November 2019, 25 May 2020, 23 July 2020, 6 August 2020, 21 September 2020, 8 October 2020, 27 October 2020 and12 January 2021. Helix Resources is not aware of any new information or data that materially effects the information in these announcements.

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APPENDIX B - BOARD & MANAGEMENT

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Peter Lester Mining Engineer Non Executive Chairman

Mr Lester has over 40 years experience in the mining industry and has held senior executive positions with North Ltd, Newcrest Mining Limited, Oxiana/Oz Minerals Limited and Citadel Resource Group Limited.

Mr Lester’s experience covers operations, project and business development and general corporate activities including financial services. He has been a Director of several ASX listed resource companies.

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Mike Rosenstreich

Geologist Managing Director

Mr Rosenstreich contributes over 30 years technical, corporate and financial experience.

He has held senior geological roles covering exploration, development and production. He worked in resource banking with NM Rothschild before becoming founding Managing Director of Bass Metals, leading it from IPO, exploration success and over 5 years of base and precious metals production. Since late 2013, he has held several executive roles with ASX listed companies focused on ‘specialty materials’ such as tantalum, graphite and REE as well as gold and base metals in Australia and off-shore.

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Tim Kennedy Geologist Non Executive Director

Mr Kennedy has over 30 years experience in the mining industry including extensive involvement in the exploration, discovery, feasibility and development of gold, nickel, PGE, base metals and uranium projects throughout Australia.

He has held senior management positions with several resources companies including Resolute and Anglo American. His most recent role was as Exploration Manager with Independence Group NL (ASX: IGO), which during his 11 years tenure grew from being a junior explorer to a multi-asset and multi-commodity mining company.

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Jason Macdonald

Lawyer Non-Executive Director

Mr Macdonald is a qualified legal practitioner, focused on mining corporate and commercial issues.

Mr Macdonald is also a director of several private resource Cobar, NSW companies and has a diverse range of corporate, equity capital market and mining related experience.

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APPENDIX C – REGIONAL PRODUCERS & DEPOSITS

TRITTON COPPER OPERATIONS[1]

HERA GOLD/BASE METALS[3]

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• Produces 25kt Cu pa

• Ore Reserves 5.7Mt @ 1.5% Cu

• Mineral Resources 17.5Mt @ 1.5% Cu

Aeris Resources 2020 Annual Report

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• Produces 45koz Au pa

• Ore Reserves 1.2Mt @ 1.4g/t Au, 3.0% Pb, 4.7% Zn, 38g/t Ag

• Mineral Resources 1.4Mt @ 1.6g/t Au, 3.1% Pb, 4.8% Zn, 40g/t Ag

Aurelia Metals 2020 Annual Report

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CSA MINE[2]

• Produces 49.9kt Cu pa

• Largest operation in region

http://www.csamine.com.au/

PEAK GOLD OPERATIONS[3]

• Produces 46.6koz Au, 12.1kt Pb, 6.7kt Zn, 6.3kt Cu pa

• Ore Reserves 3.3Mt @ 2.3g/t Au, 0.9% Cu, 2.8% Pb, 2.9% Zn, 16g/t Ag

• Mineral Resources 11.3Mt @ 1.5g/t Au, 1.4% Cu, 1.0% Pb, 1.2% Zn, 10g/t Ag

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ENDEAVOR LEAD/ZINC[4]

• Currently Care & Maintenance

• Sandfire (ASX:SFR) earn in 100% for $30m

SFR Announcement 27/10/2020

MT BOPPY GOLD[5]

• Planned production 24koz Au

• Ore Reserves 0.27Mt @ 3.0g/t Au

• Mineral Resources 0.37Mt @ 3.23g/t Au

Manuka Resources 2020 Annual Report

Aurelia Metals 2020 Annual Report

COBAR BASE METAL ASSETS[7]

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MINERAL HILL[6]

• Multi-deposits: Parkers Hill, Red Terror, SOZ & EOZ

• Metal Endowment: 74kt Cu, 85kt Pb, 42kt Zn, 6Mpz Ag, 267koz Au

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• Multi-deposits: May Day, Mallee Bull, Wagga Tank, Southern Nights and Wirlong

• Metal Endowment: 134kt Cu, 295kt Zn, 145kt Pb, 20Moz Ag, 267koz Au

Peel Mining 2020 Annual Report

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KBL 2015 Annual Report