HELIX RESOURCES LIMITED — Investor Presentation 2021

Jun 22, 2021

ASX Announcement

23 June 2021

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Gold Coast Investment Showcase Presentation

Helix Resources ( ASX: HLX ) is pleased to advise that the Company’s Managing Director, Mike Rosenstreich will be speaking to the attached presentation, “High Grade Cobar Copper” today at the Gold Coast Investment Showcase in the Gold Coast.

This ASX release was authorised by the Managing Director 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

PO Box 825 West Perth, WA, 6872

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

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

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

Media Contact:

Michael Vaughan Fivemark Partners Tel: +61 422 602 720 Email: michael.vaughan@fivemark.com.au

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

T +61 8 9321 2644 F +61 8 9321 3909 E helix@helixresources.com.au

HIGH GRADE COBAR COPPER

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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.

Supporting Information

Details of JORC 2012 compliant information and the assumptions underlying all Resource estimations are contained in previous ASX releases or at www.helixresources.com.au For full details of recent exploration results refer to the ASX announcements 28 September 2020, 2 November 2020, 16 November 2020, 25 November 2020, and 23 December 2020. Helix Resources is not aware of any new information or data that materially effects the information in these announcements.

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 - planned drilling to the end of 2021

RECENT EXPLORATION SUCCESS AT CANBELEGO COPPER PROJECT

• 14 metres at 4.2% copper

• Potential resources extensions – Canbelego & CZ Deposits

• New downhole geophysical targets – indicative of high-grade copper shoots

UNDERPINNED BY

• Existing copper resources with major growth upside

• Highly prospective copper neighbourhood

• Rejuvenated management team

• Strong 10 year copper demand forecast

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Cobar, NSW
Sydney
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1 – Refer Appendix A

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CORPORATE SNAPSHOT

ASX CODE		HLX	SHARE PRICE GRAPH - 12 MONTHS TO 18 JUNE 2021	SHARE PRICE GRAPH - 12 MONTHS TO 18 JUNE 2021
Share price (at 18 June 2021 close)		$0.036
52 week high / low	$0.051/$0.008
Shares on issue		1,255M
Options on issue (unlisted)		32.5M
Market Cap. (at $0.036)		$45M
Approx. EV		$39M
				Cobar, NSW
MAJOR SHAREHOLDERS (pre issue of new	shares)	%	BOARD OF DIRECTORS
Yandal Investments Pty Ltd		4.1%	Peter Lester	Non-Executive Chairman
BNP Paribas Noms. Pty Ltd		2.7%	Mike Rosenstreich	Managing Director
Directors & Management		1.8%	Tim Kennedy	Non-Executive Director
Top 20		27%	Jason Macdonald	Non-Executive Director

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Refer Appendix 3 for Board & Management details

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STRATEGY The ‘right’ metals – copper & gold, in the ‘right’ neighbourhood, to underpin a strong business case

COPPER IN COBAR

Established, well endowed copper province

• Located in a region with +150 years copper production, ongoing new discoveries and numerous base metal and gold production hubs

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Cobar region - over 150 years of copper mining

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ENDEAVOR LEAD/ZINC [4]
C&M
Sandfire (ASX:SFR) JV
TRITTON COPPER
OPERATIONS [1]
25kt Cu pa
CSA MINE [2]
49.9kt Cu pa
MT BOPPY GOLD [5]
Planned - 24koz Au
PEAK GOLD
OPERATIONS [3]
46.6koz Au, 12.1kt Pb,
6.7kt Zn, 6.3kt Cu pa
HERA GOLD/BASE
METALS [3]
45koz Au pa
PEEL RESOURCES/BASE
METALS [7]
Metal Endowment 134kt Cu, 295kt
Zn, 145kt Pb, 20Moz Ag, 267koz Au
(May Day, Mallee Bull, Wagga Tank,
Southern Nights and Wirlong)
QUINTANA MINERAL HILL
GOLD/BASE METALS [6]
74kt Cu, 85kt Pb, 42kt Zn,
6Mpz Ag, 267koz Au
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HELIX’S STRATEGY

Focussed on the Cobar region, NSW

Major regional mineralised The ‘right’ neighbourhood - high trends: value exploration potential in a richly  endowed province production hubs

• Glencore (LSE:GLEN)

• Aeris (ASX:AIS)

• Sandfire Resources (ASX:SFR)

• Aurelia (ASX:AMI)

• Manuka (ASX:MKR)

• emerging producers

• Peel Resources (ASX:PEX)

• Quintana Resources (pvt.)

• Helix Resources (ASX:HLX)

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Refer Appendix B for details and data sources.

COPPER IN COBAR – UNLOCKING REGIONAL POTENTIAL

24 High-priority copper targets identified on major regional trends

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

• “EM finds copper in Cobar”

• 3 Major regional scale copper trends:

1. Collerina Trend – 65 km

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

• ‘On trend’ from Tritton, Kurrajong & Constellation-high grade copper discoveries

2. Rochford Trend – 30 km

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

3. Meryula Trend - 25 km

• Earlier stage, Cu (+Pb-Zn) targets

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1 – Refer Appendix A for details.

1. THE COLLERINA TREND

Hosts the CZ Copper Deposit

8 High priority targets identified for example, at:

 Quanda Area

• South ‘on trend’ to Kurrajong Deposit (3-4Mt at 1.5-2.0% Cu)[1] and new high-grade Constellation copper discovery (Aeris ASX:AIS) assays eg 3.6m at 22.6% Cu & 5.85m at 4.6% Cu[2]

 Honeybugle Area

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

• CZ Deposit , North & South Extensions

• Extensions to current Mineral Resource, coincident with .

• magnetic high and surface Geochem. No drilling

 Fiveways

• Subtle conductors, north on trend from Mt Royal and

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

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1 – Exploration Target, refer Aeris Annual Report 2020

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2 – AIS ASX Report, 9 March 2021 Constellation Deposit Continues to Grow

1. THE COLLERINA TREND

High-grade sulphide deposit

• Helix Discovery – 2016

• 100% owned

• 2Mt at 2.0% Cu & 0.1 g/Au for 40.4kt contained copper. (JORC2012)

• 60% Indicated & 40% Inferred (by Cu tonnes)[1]

• Oxide & transitional Cu mineralisation is 13% of Mineral Resource

• High-grade copper shoots controlled by regional scale fold-hinges

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1 – Refer Appendix A for Mineral Resource details

1. THE COLLERINA TREND

CZ Deposit is open in all directions

• High-grade CZ shoot defined by south-east plunging fold axis

• Geological modelling has identified possible parallel plunging shoots – referred to ‘Fold Hinge geological model’

• Soon to be tested by diamond drilling after RC failed to hit targets

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1. THE COLLERINA TREND

Clear geological analogies with Aeris’ (ASX:AIS) Constellation Discovery

Collerina drill core – from 5 metres at 4.8% Cu

Collerina drill core – from 11 metres 6.6% Cu (CODD001 from 81 metres downhole)

(CORCDD090 from 330 metres downhole)

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4% Cu
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17% Cu

Constellation drill core – 5.85 metres at 4.6% Cu , 0.96g/t Au & 8.4g/t Ag (TAKD006 from 200.1 metres downhole)[1]

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1 - AIS ASX Report, 9 March 2021 Constellation Deposit Continues to Grow

2. ROCHFORD TREND

Newly extended, large scale copper trend

10 High-priority targets identified, for example, at:

• Boppy Broken Hill Area

• Canbelego Extensions North, South & West

• Possible extensions and

repeats of the Canbelego deposit

• Caballero

• Bijoux Prospect

2021 VTEM is the first survey on this tenement group

Note : Canbelego JV: Helix 70% & Manager. Aeris Resources (ASX:AIS) 30%. Parties co-funding.

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1 – Refer Appendix A ‘Mineral Resources’ for details

2. ROCHFORD TREND

Canbelego – DHEM highlights new opportunities to extend deposit in all directions

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Canbelego

• Canbelego Inferred Resource of 1.5Mt at

• 1.2% Cu (JORC 2004)[1]

• Strong drilling results to date:

• 4/4 copper sulphide intercepts

• Extended known mineralisation 90m down

  • dip and 200m north along strike

• DHEM critical targeting tool – identifying potential high-grade shoots

• 5th drill hole in progress - Central Shoot

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

2. ROCHFORD TREND

14 metres at 4.2% copper – outstanding, thickened intercept

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?
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• CANDD001 2 metres at 3.07% copper within a broader interval of 11 metres at 1.10% copper from 270 metres downhole

CANDD002 - 14 metres at 4.22% copper from 263 metres downhole, including

o 3 metres at 7.01% copper from 352 metres; and

o 4 metres at 6.91% copper from 358 metres .

o A new mineralised position (above the main lode) 2 metres at 3.0% copper from 118 metres from 110 metres downhole.

CANDD004 - 4.8 metres with variable chalcopyrite from 273 metres - comprised mainly 0.5% disseminated chalcopyrite with two intervals totalling 1.2 metres where 5 to 70% disseminated, vein and massive chalcopyrite was observed.

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2. ROCHFORD TREND

Canbelego – VTEM has highlighted potential for repeat lodes

Canbelego Extensions

• Down-dip - currently drilling and hitting down-dip extensions to the ‘known’ Canbelego mineralisation

as well as

• Recent VTEM highlighted potential extensions to the North, South & West

• Well supported by strong copper surface geochem

Follow-up work planned:

• Surface and downhole EM – in progress

• Resource focussed diamond drilling – in progress

• Surface geochem sampling

• ‘Light’ RC drill traverses across target zones

• Diamond drill testing of new refined targets

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

CORPORATE PERSPECTIVES – 2021 WORK PROGRAM

Systematic pipeline of work and news flow

“May 2021 Capital Raise enables ‘Continuous’ drilling for the rest of 2021”

• DDH & RC at Canbelego & CZ deposit areas; extensional & infill drilling

• to grow the scale and confidence of the resources

• Regional target test drilling-focus high-priority targets identified in Q1

Q3 2021

• Surface geochem sampling (ongoing) – regional & drill target scale

• Metallurgical sampling and test work design

Work on 120 km of prospective copper trends

• Collerina

• Rochford

― Meryula

Near-term news flow – focused on drilling

• diamond drilling; further extensions to high-grade copper mineralisation – Canbelego/CZ

• downhole & surface EM targets; important for new drill targets

• • Assays - CANDD001 & 002 later in June Ongoing assay results

• • New regional targets

• Drilling – continue resource extensional ‘step-out’ holes

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Q4 2021
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• Regional targets – continue drilling (reprioritising with new data)

• Surface & downhole EM – follow up of new and extended targets

• Initial development studies – mining, processing, environmental &

• permitting

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CORPORATE PERSPECTIVES – INVESTMENT SUMMARY

Compelling Australian copper exploration opportunity

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• Well funded – now looking to drill continuously for 2021

• Defined copper resources – open ended growth potential

at Canbelego – drilling high-grade copper Outstanding result - 14 metres at 4.2%

• 24 significant, new copper targets in a highly mineralised copper terrain

• Aggressive 2021 drilling program in progress

• Focused management team, with new strategy – already generating positive results

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• 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

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APPENDIX A

Mineral Resource estimates

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

	Classification	Type	Tonnes		Copper	Gold	Contained Copper	Contained Copper	Contained Gold
			Mt		%	g/t		t	Oz
	Indicated	Oxide/Transition	0.17		1.1	0.0		1,900	200
	Inferred Total Indicated Inferred Total	Oxide/Transition Oxide/Transition Fresh Fresh Fresh	0.46 0.63 0.83 0.57 1.40		0.6 0.7 2.6 2.5 2.6	0.0 0.0 0.2 0.1 0.2		2,700 4,600 21,800 14,100 35,800	100 300 6,600 2,500 9,100
	Indicated	Oxide/Transition	0.17		1.1	0.0		1,900	200
	Indicated Inferred	Fresh Oxide/Transition	0.83 0.46		2.6 0.6	0.2 0.0		21,800 2,700	6,600 100
	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 Inferred Total	Type Oxide/Transition/Fresh Combined	Tonnes Mt 1.50 1.50		Copper % 1.2 1.2	Gold g/t N/A N/A	Contained Copper t 18,000 18,000		Contained Gold Oz N/A 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)

- Cobar Gold (November 2019) (1.2g/t Au cut off)

Deposit	Classification	Type	Tonnes	Gold	Contained Gold
			Mt	g/t	Oz
Sunrise	Inferred	Oxide/Transition	0.50	2.1	33,100
Good Friday	Inferred	Oxide/Transition	0.10	1.7	5,300
Boundary	Inferred	Oxide/Transition	0.22	1.8	12900
Battery Tank	Inferred	Oxide/Transition	0.05	1.9	, 3,000
Total			0.87	1.0	54,300

(Rounding discrepencies may occur in summary tables)

(Rounding discrepencies may occur in summary tables)

• JORC 2004 Compliant Resource: For full details regarding estimation methodologies please refer ASX announcement on 1 October 2010 – reported as 100% of deposit

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 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.

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 and 23 March 2021. Helix 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 – REGIONAL PRODUCERS & DEPOSITS

References

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TRITTON COPPER OPERATIONS[1]

• 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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HERA GOLD/BASE METALS[3]

• 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

CSA MINE[2]

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• 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

KBL 2015 Annual Report

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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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APPENDIX C

Directors & 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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