HELIX RESOURCES LIMITED — Investor Presentation 2021

Feb 17, 2021

Metals for the times Copper & Gold February 2021

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10-Yr Gold Price
5-Yr Copper Price
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Mike Rosenstreich Managing Director

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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 announcement that relates to Exploration Results, Mineral Resources or Ore Reserves is based on information compiled by Mr M Wilson who is a full time employee of Helix Resources Limited and a Member of The Australasian Institute of Mining and Metallurgy. Mr M Wilson has sufficient experience which is relevant to the style of mineralisation and type of deposit under consideration and to the activity which he is undertaking to qualify as a Competent Person as defined in the 2012 Edition of the ‘Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves’. Mr M Wilson consents to the inclusion in the report of the matters based on his information in the form and context in which it appears.

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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2

INVESTMENT SNAPSHOT

STRONG COPPER FUNDAMENTALS

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• Increased demand forecast from uptake into EV’s and renewable energy transition underpinned by stimulus infrastructure construction

• 20% increase in copper price over the past 6 months

PROSPECTIVE NEIGHBOURHOOD

• Cobar – well endowed copper (& gold) province

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• Hosts the CSA Mine (Cu-Au), Tritton Copper Operations, Peak Gold Mine, and Hera Mine (Au+Basemetals)

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

EXISTING COPPER RESOURCES WITH FURTHER UPSIDE

• Existing high-grade copper resources[1] – opportunities for major growth by extensional drilling

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• Large scale prospective regional trends with emerging new copper prospects with little or no drilling

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Cobar, NSW
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• Geophysical (EM) surveys ‘find copper’; positive results will generate drilling targets

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COBAR GOLD – ONLY JUST SCRATCHED THE SURFACE

• Structure and geology similar to nearby Peak Gold Mine (4Moz Au)

• Existing (100koz) resource[1 ] and numerous gold targets

1 – Refer Appendix A

3

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STRATEGY The ‘right’ metals in the ‘right’ neighbourhood to underpin a strong business case

HELIX’S STRATEGY - IS FOCUSED ON COPPER & GOLD

The ‘right’ metals;

• Copper leveraged to renewable energy transition, EV & infrastructure spending

- Gold, as always, a safe haven in volatile times

“Metals for the times” - strong Fundamentals for Copper and Gold

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Copper
World Copper Supply and Demand Model
2019 - 2030
Based on S&P Global Markets Data Jan 2021
28 1.00
27 0.50
26
0.00
25
-0.50
24
-1.00
23
-1.50
22
21 -2.00
20 -2.50
2019 2020e 2021e 2022e 2023e 2024e 2025e 2026e 2027e 2028e 2029e 2030e
Total Refinery Production Mt
World Copper Demand Mt
Implied Market Balance (before inventory) Mt [RHS]
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Gold

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• Current Copper demand is c.23Mtpa of which 60% is for conductivity applications

• An important part of all risk-averse investment portfolios

• EV and Renewables forecast to contribute to a 40% growth in Conductivity applications

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5

STRATEGY IS FOCUSED ON THE COBAR REGION

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The ‘right’
neighbourhood - high
value exploration
potential in a richly
endowed province
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TRITTON COPPER OPERATIONS [1]
ENDEAVOR LEAD/ZINC [4]
C&M 25kt Cu pa
Sandfire (ASX:SFR) JV
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
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LEGEND
Helix Prospect
Major Mine
Major Deposit
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Refer Appendix 3 for details and data sources.

6

HELIX’S STRATEGY WITHIN THE PREMIER COBAR MINERAL REGION

Pursue exploration prospects to grow Resources and with asset consolidation opportunities, target development of a copper (and gold) production hub for the SE Cobar region

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Objective: Build Helix shareholder value focusing on Cobar and Copper.

Implementation:

 Copper Strategy

• Build resource inventory

• Development studies – Prefeasibility level

• Assess new opportunities in the region

 Gold Strategy

• Review Cobar Gold Project results in context of “Peak” style geological model

• Explore commercialisation opportunities

 Chile Copper Assets

• Commercialisation through farm-out or divestment

 Corporate Strategy

• Fund raising; serve interests of existing shareholders and strengthen register with new long-term, supportive investors

• Renewed Investor Relations / Stakeholder communications focus

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LEGEND
HLX Prospects
Regional Prospects Cobar, NSW
Production Centres
Endeavor (Base Metals) Avoca Tank (Au)
Murrawombie (Cu)
Muriel Tank (Au)
CSA (Cu) Kurrajong (Cu)
Tritton (Cu)
The Peak
Mt Boppy (Au)
(Au, Base Metals) Budgerygar (Cu)
CANBELEGO JV Widgelands (Cu)
Copper Deposit
Rochford (Cu) Tindalls/Yathella (Cu)
Trend
COBAR GOLD PROJECT Bijoux Prospect
Battery Tank Goldfield Deposit
Nymagee (Cu)
Hera (Au, Base Metals)
Wirlong
Tottenham (Cu/Au)
Federation (Au, Base Metals)
Overflow
COLLERINA PROJECT
Central Zone Copper Deposit
May Day Mallee Bull (Cu)
Mineral Hill (Cu/Au)
Blind Calf (Cu)
Southern Nights (Base Metals)
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N 25km

7

CORPORATE SNAPSHOT

ASX CODE		HLX	12	MONTHS	MONTHS	MONTHS	MONTHS	MONTHS	MONTHS	MONTHS	MONTHS	MONTHS	MONTHS	MONTHS	MONTHS	MONTHS	MONTHS	MONTHS	MONTHS	MONTHS		TO	TO	TO	TO	TO	TO	TO	TO		15	15	15	15	15	15	15	Feb	Feb	Feb	Feb	Feb	Feb	Feb	Feb	Feb	Feb	Feb	2021	2021	2021	2021	2021	2021	2021	2021	2021	2021	2021	2021	2021	SHARE	SHARE	SHARE	SHARE	SHARE	SHARE	SHARE	SHARE	SHARE	SHARE	SHARE	SHARE	SHARE	SHARE	SHARE	SHARE	SHARE	SHARE	SHARE	SHARE		PRICE	PRICE	PRICE	PRICE	PRICE	PRICE	PRICE	PRICE	PRICE	PRICE	PRICE	PRICE	PRICE	PRICE	PRICE	PRICE	PRICE	PRICE	GRAPH	GRAPH	GRAPH	GRAPH	GRAPH	GRAPH	GRAPH	GRAPH	GRAPH	GRAPH	GRAPH	GRAPH	GRAPH	GRAPH	GRAPH	GRAPH	GRAPH	GRAPH	GRAPH	GRAPH	GRAPH	(ASX:HLX)	(ASX:HLX)	(ASX:HLX)	(ASX:HLX)	(ASX:HLX)	(ASX:HLX)	(ASX:HLX)	(ASX:HLX)	(ASX:HLX)	(ASX:HLX)	(ASX:HLX)	(ASX:HLX)	(ASX:HLX)	(ASX:HLX)	(ASX:HLX)
			0.0225																																																																																																																																						50.0
Share price (at 15 Feb 2021 close)		A$0.010		0.02																																																																																																																																					45.0
Shares on issue Post T1 of Placement Post T2 of Placement Unlisted options Market capitalisation – post T1 Number of Shareholders*		974 M 1,094M 36.5 M A$9.7M 1,808	0.0075 0.01 0.0125 0.015 0.0175 Share Price - Close (A$/share)																																																																																																																																						15.0 20.0 25.0 30.0 35.0 40.0		Volume Traded (M)
			0.005
Cash Estimates	Post T1 of Placement	A$1.66M																																																																																																																																							10.0
(at 31/1/2020)	Post T2 of Placement*	A$3.40M	0 0.0025																																																																																																																																						- 5.0
Debt		Nil		21/01/20							21/02/20										21/03/20											21/04/20											21/05/20											21/06/20 21/07/20 Daily Vol (M)																							21/08/20 21/09/20 Daily Close																							Cobar, 21/10/20 21/11/20																						NSW 21/12/20 21/01/21											21/02/21
MAJOR SHAREHOLDERS (pre-placement)		%	BOARD								OF								DIRECTORS
Yandal Investments		5.5%	Peter			Lester																																																																																																	Non-Executive																								Chairman
Gee Vee Pty Ltd		5.4%	Mike Rosenstreich																																																																																																																				Managing												Director
Directors & Management		3.5%	Tim Kennedy																																																																																																								Non-Executive																								Director
Top 20		38.2%	Jason				Macdonald																																																																																																				Non-Executive																								Director

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*Placement - in 2 tranches (T1 & T2); refer ASX report 18 February 2021. T2 is subject to shareholder approval.

8

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

Mick Wilson Geologist General Manager - Geology

Lawyer Non-Executive Director

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

Mick’s technical experience includes project generation, mineral exploration using geology, geochemistry, geophysics and drilling; mineral resource drilling, Cobar, NSWmineral resource estimation and evaluation programs; monitoring joint venture projects, and project advancement.

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

Mr Wilson graduated from ANU with a BEc and BSc Hons degrees, and is a member of AusIMM. He has held various technical and management roles at Helix, and played a major role in generating the Company’s current project portfolio.

9

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COPPER Good progress on cracking the regional and structural ‘copper code’ – now focus on accelerating rate of discovery and resource growth to underpin a copper business case.

THREE ADVANCED COPPER PROJECTS WITHIN A WELL ESTABLISHED PRODUCTION REGION

• 1,500km[2] prospective ground position,

• Located in a region with +100 years copper production, ongoing new discoveries and 3 base metal and gold production hubs.

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1. The Collerina Project:

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

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LEGEND
Avoca Tank (Au)
HLX Prospects
N Murrawombie (Cu) Regional Prospects
Production Centres
20km
Tritton (Au, Ag, Cu)
Kurrajong (Cu)
CANBELEGO JV
Copper Deposit
Budgerygar (Cu)
Mt Boppy (Au)
Muriel Tank (Au)
Widgelands (Cu)
Rochford Trend
Bijoux Prospect (Cu/Au) Tindalls/Yathella (Cu)
COBAR GOLD PROJECT
Battery Tank Goldfield Deposit
Nymagee (Cu)
Hera (Au, Base Metals)
Wirlong
COLLERINA PROJECT
Federation (Au, Base Metals) Central Zone Copper Deposit
Tottenham (Cu/Au)
Overflow
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• Lateral and down-plunge CZ extensions

• Tindalls, Yathella and Widgelands targets; strong soil and geophysical anomalies

2. Rochford Trend:

• 15 km prospective copper trend

• Bijoux prospect – new 1.7 x 0.7 km soil anomaly with anomalous scout drill intercepts[1]

3. The Canbelego JV: (70% HLX, 30% AIS)

• 3 km soil/geophysical anomalous zone

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

• Helix controls 85km of the prospective VMS belt within the Cobar base metal and gold producing region

• Limited exploration on the wider project area

1 – refer Mineral Resources summary and ASX announcements listed in Appendix A

11

COLLERINA COPPER PROJECT

Major regional copper trend

Multiple prospects identified across three priority target zones within the main 25km Collerina Copper Trend:

• Defined by anomalous soil, geophysical signatures and rock chip assays

• Led to Helix’s discovery of the CZ deposit within Collerina Trend

• Plus - 60km of prospective corridor north and south of the main Collerina Copper Trend

• Priority targets

• Yathella

• Tindalls

• Widgelands Trend

• Homeville Trend

• Limited drilling except at CZ Deposit

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490000mE 500000mE 510000mE
Widgelands NE
Emerging Prospect
25km Copper Trend
Homeville Trend
Emerging Prospect
Widgelands Trend
Rockchips up to
7.3% Cu, 0.6g/t Au
Yathella
Collerina Central Zone (CZ) Deposit
Tindalls Initial Resource
Emerging Prospect 2Mt @ 2.0% Cu
Max’s Folly
Collerina South
Emerging Prospect
646000mN
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12

COLLERINA COPPER PROJECT

Helix discovery, flagship project.

• CZ deposit: high-grade results include 11m at 6.6% Cu , 12m at 5.0% Cu, 14m at 4.0% Cu and 10m at 3.7% Cu[1]

• Initial CZ Indicated and Inferred Mineral Resource estimate (June 2019): 2.02 Mt at 2.03% Cu and 0.1g/t Au for 40kt copper and 9.4koz gold; almost 50% Indicated category[1]

• CZ Mineral Resource open in all directions – recent drilling tested for resource extensions and geological model down dip. Recent results:

• Supportive of the Fold Hinge geological model on high grade shoots

100% owned.

High grade copper project.

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• Missed Northern Fold Hinge / electromagnetic (EM) target due to drill hole deviation

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13

1 – refer Mineral Resources summary and ASX announcements listed in Appendix A

COLLERINA COPPER PROJECT

Geological model – proving up Extensions to high grade resource – current thinking:

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

• Geological modelling based on drill intercepts and modelling of EM[1] data has identified possible parallel plunging shoots – referred to ‘Fold Hinge geological model’

• Recent drilling results - add further support to that model:

• 1m at 1.0% Cu (CORC124) and 1m at 1.0% Cu (CORC125) in semi-massive chalcopyrite on flank of Northern Fold Hinge shoot

• Next steps:

• further downhole EM and refinement of geological model

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3D Schematic of the Fold Hinge geological model for the Collerina copper mineralisation

• Step-out, extensional drilling of the parallel shoot positions – with diamond drilling technique

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1 - Downhole EM (DHEM) has proven to be an effecting targeting tool for base metals in the Cobar region and in combination with surface EM surveys is a primary targeting tool for Helix

14

COLLERINA COPPER PROJECT Advancing to feasibility study Resource Growth

• Numerous zones identified for infill and extension drilling for potential open pit and underground developments

• Modelling and DHEM[1 ] confirmed the presence of high-priority Northern FoldHinge and Southern Fold Hine target zones

Development Studies

• Mine development and geotechnical

• Metallurgical test work of oxide and sulphide mineralisation

• Processing route design and options

• Initial environmental and permitting requirements

Creates the framework to incorporate planned advancement of other copper targets into business case

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15

ROCHFORD TREND

Newly extended, large scale copper trend

Rochford Trend

• ~15km trend extending SE from Canbelego

• Outlined by regionally anomalous soil geochemistry, geophysical signatures and prospective geology

• Canbelego at northern end is a defined copper-gold deposit[1]

• Bijoux Prospect at southern end is a new open-ended, copper target

Canbelego

• Joint Venture with local Producer, Aeris Resources on EL6105; Helix 70% and manager.

• Canbelego Deposit estimate is 1.5 mt at 1.5% Cu (JORC 2004)[1] – depth potential with ‘drill-ready’ untested EM conductor modelled below deposit

• Larger geochemical ‘footprints’ at Canbelego West and SE Extension and Caballero Prospect ~3km south.

Limited scout drill holes away from Canbelego deposit

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16

1 – Refer Appendix A ‘Mineral Resources’ for details

BIJOUX – ROCHFORD TREND

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BJRC001
BJRC002
BIJOUX PROSPECT
Sub-cropping Copper in auger
ironstone Soil anomaly (red)
Mid/Late Channel
MLEM Anomaly
(Channel 33)
BJRC003
BJRC004
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Success in first scout holes

Bijoux Prospect

• 1.7km x 700m copper in soil anomaly

• Outcropping anomalous gossan

• Helix drilled 4 scout holes in 2020 at 2 locations

• pXRF[1 ] results include:

• 38m at 0.22% Cu ( BJRC003) from surface (peak reading of 0.54%Cu)

• 33m at 0.13% Cu (BJRC004) from 4m (peak reading of 0.50% Cu)

• 2m at 0.1% Cu, 0.15% Zn (BJRC001) from 49m.

• Recent anomalous gold assays, 4m at 2 g/t (BRC004) are a possible vector to new mineralisation

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High priority EM and drilling work planned for early 2021 exploration program

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1. pXRF readings are semi-quantative and are deemed to only provide an indication of base metal mineralisation. In addition, the pXRF device is not able to detect gold that may be present in the samples. The samples will be sent to a commercial laboratory for gold and base metal assay.

17

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GOLD Exploring for large deposits, but with small ‘footprints’ - lots of ‘smoke’ to see through and focus in on emerging ‘hot’ targets.

COBAR GOLD PROJECT

Emerging gold field

Comparison of Helix’s Cobar Project with Peak Gold Trend

Known province for large scale and high grade gold deposits e.g. Peak and Mt Boppy

• Helix has a large goldprospective ground position of ~600 km[2]

• Comparable geological setting to nearby 4Moz Peak Gold Trend

• Existing 118koz Au JORC-2012 compliant oxide gold deposits[1]

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Nth Target
Zone
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• Multiple targets generated with some reconnaissance drilling completed

• Challenge – targets have small ‘footprints’ but large vertical dimensions[2]

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1 – Refer Appendix A for details 2 – Refer Appendix B for explanation

19

COBAR GOLD PROJECT

New gold targets – “seeing through the smoke’

• Existing Inferred Oxide Mineral Resource (from surface)

• 3.75Mt at 1g/t Au for 118koz Gold (incl. 55koz at 2g/t Au)[1]

• Battery Tank Prospect – wide zones of gold mineralisation;

• 43m at 2.3 g/t Au from surface, incl. 4m at 13.3g/t Au and 14m at 2.8g/t Au

• 54m at 1g/t Au from 9.2m, incl. 10m at 3.3g/t Au incl. 3.3m at 5.2g/t Au and 5m at 2.4g/t Au,

• Numerous historic gold workings,

• Clear potential for significant depth extensions using the Peak Trend geological model.

Over 40 strong additional regional targets - all untested by drilling Geological model demonstrates significant gold system potential – reviewing and assessing all the data ahead of further ground work

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NORTHERN FOLDNOSE
TARGET AREA
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20

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OTHER PROSPECTS Chile exploration; seeking to commercialise 100% owned copper prospects.

CHILE PROJECTS – SAMUEL AND JOSHUA

Large scale porphyry and manto copper targets

100% ownership of 3 highly prospective early-stage copper (and gold) projects in an accessible, low-elevation area in Chile

• Blanco Y Negro: a historical mine with an Indicated and Inferred Mineral Resource of 1.5 mt at 1.4% Cu and 0.5 g/t Au[1]

• Joshua Copper Porphyry: several largescale copper targets defined by geophysics and drilling including 352m at 0.27% Cu, 240m at 0.22% Cu and 400m at 0.25% Cu[1]

• Samuel Project: large scale copper target defined by geophysics and early-stage drilling

Looking at opportunities to attract outside, project level investment into this ‘worldclass’ copper province

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Location Plan of Helix’s Chilean Projects

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1- refer ASX report 22 December 2020

22

2021 WORK PROGRAM

Accelerated work program for 2021

COPPER

Discover, grow and advance

copper resources into prefeasibility study

• Infill and extensional drilling of CZ and Canbelego copper resources[1]

• Large scale geophysical surveys; EM data is a critical discovery tool. Extend coverage of regional scale Rochford and Collerina trends

• Major drill programs – both diamond core and RC to systematically test prospects and targets

• Ongoing auger soil programs (HLX owned rig) to define and refine targets

• Metallurgical test work

• Move forward on development studies

GOLD

• Detailed review of results to vector into potential high-grade positions

• Geochemical sampling and mapping to better understand and prioritise the numerous gold targets

CHILE

• Asset rationalisation – pursue JV or divestment opportunities

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23

1 – refer Mineral Resources summary and ASX announcements listed in Appendix A

PLANNED WORK PROGRAM TIMELINE

Systematic pipeline of work and news flow, focused on one project but 95 km of prospective ‘Copper Trend’

Q1 2021

Q2 2021

Q3 2021

• Heli-VTEM survey ~ 2,000 line km over Rochford and Collerina Copper trends

• Surface EM and DHEM surveys for drill targeting

• Surface geochem sampling – for target definition

• Drilling – Canbelego & CZ deposit areas – extensional & infill

• Regional target test drilling

• Surface geochem sampling – regional & multi element analysis

• Metallurgical sampling and test work design

• Drilling – Canbelego & CZ deposit areas - extensional

• Regional target test drilling

• Surface geochem sampling – ongoing

• Surface EM – drilling follow up of new and extended targets

• Initial development studies – mining, processing etc

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Q4 2021
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Subject to results above:

• Drilling – resource upgrade focus on new targets

• Regional target test drilling - ongoing

• Development Studies – including Mineral Resource update

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INVESTMENT SUMMARY

Key Value Drivers

DISCOVERY

Motivated, experienced reinvigorated team to deliver results through 2021

• Existing high-grade copper resources – opportunities for major growth by extensional drilling

• Large scale prospective regional trends with emerging new copper prospects with little or no drilling – add value through systematic targeting and aggressive follow-up drilling

• Geophysical (EM) surveys ‘find copper’ in the Cobar region; positive results will generate drilling targets

A ‘big bold’ approach to make discoveries, grow resources and have the regional scale knowledge to rank and prioritise targets to optimise effort and expenditure DEVELOPMENT

• Initiate mine development studies – metallurgy, mining assessments and permitting process – ‘demonstrate a path to development’

• Look regionally for growth opportunities to consolidate exploration and development opportunities

More than exploration; on pathway of development and growth CORPORATE

• Strengthen share register and funding situation

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• Improve shareholder communications

Attract and retain shareholders….. ‘get folks talking about Helix’

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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
		Mt	%	g/t	t
Indicated	Oxide/Transition	0.17	1.1	0.0	1,900
Inferred	Oxide/Transition	0.46	0.6	0.0	2,700
Total	Oxide/Transition	0.63	0.7	0.0	4,600
Indicated	Fresh	0.83	2.6	0.2	21,800
Inferred	Fresh	0.57	2.5	0.1	14,100
Total	Fresh	1.40	2.6	0.2	35,800
Indicated	Oxide/Transition	0.17	1.1	0.0	1,900
Indicated	Fresh	0.83	2.6	0.2	21,800
Inferred	Oxide/Transition	0.46	0.6	0.0	2700
Inferred	Fresh	0.57	2.5	0.1	, 14,100
Total	Combined	2.02	2.0	0.1	40,400

(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)

- 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 and 15 February 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 and 12 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 – COBAR GOLD TARGET MODEL

Only just scratched the surface…

• Current Mineral Resource is in oxide material in upper 150m.

• Regionally, gold and base metal deposits have significant depth extents.

• Initial prospects focused on assessing potential around historic high-grade workings.

• Gaining understanding of specific structural features controlling formation of gold deposits which require precise drill testing.

• Helix’s Mineral Resources[5] remain open at depth.

1600m

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150m
vertical
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5 – Refer Appendix A ‘Mineral Resources’ for details

APPENDIX C – 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

CSA MINE[2]

• Produces 49.9kt Cu pa

• Largest operation in region

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

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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

ENDEAVOR LEAD/ZINC[4]

• Currently Care & Maintenance

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

SFR Announcement 27/10/2020

PEAK GOLD OPERATIONS[3]

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• 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

Aurelia Metals 2020 Annual Report

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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

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