HELIX RESOURCES LIMITED — Major Shareholding Notification 2011

May 31, 2011

Form 604

Corporations Act 2001 Section 671B

Notice of change of interests of substantial holder

To Company Name/Scheme	Helix Resources Limited
ACN/ARSN	009 138 738
1. Details of substantial holder(1)
Name	Gee Vee Pty Ltd and Gregory James Wheeler
ACN/ARSN (if applicable)	009 458 299
There was a change in the interests of the substantial holder on	31/05/2011
The previous notice was given to the company on The previous notice was dated	28/08/2008 28/08/2008

2. Previous and present voting power

The total number of votes attached to all the voting shares in the company or voting interests in the scheme that the substantial holder or an associate (2) had a relevant interest (3) in when last required, and when now required, to give a substantial holding notice to the company or scheme, are as follows:

Class of securities (4)	Previous notice
	Person's votes	Voting power (5)	Person's votes	Voting power (5)
Ord	6,773,839	5.2%	16,873,259	8.27%

3. Changes in relevant interests

Particulars of each change in, or change in the nature of, a relevant interest of the substantial holder or an associate in voting securities of the company or scheme, since the substantial holder was last required to give

Date of change	Person whose relevant interest changed	Nature of change (6)	Consideration given in relation to change $(7)$	Class and number of securities affected	Person's votes affected
$30/9/08$ - 28/8/09	Gee Vee Pty Ltd	On market purchases	\$71,345	475,000	475,000
31/5/2011	Gee Vee Pty Ltd	Exercise of Options	\$488,920.53	9.624.420	9.624,420

1. Present relevant interests

Particulars of each relevant interest of the substantial holder in voting securities after the change are as follows:

Holder of relevant interest	Regis tered holder of securi	Person entitled to be registered as holder (8)	Nature of relevant interest $(6)$	Class and number of securities	Person's votes
Gee Vee Pty Ltd ATF Wheeler Superannuation A/c	Gee Vee Pty Ltd	Gee Vee Pty Ltd	Legal and Beneficial ownership	6,255,500 Ordinary Shares	6,255,500
Gee Vee Pty Ltd ATF GJ Wheeler Family A/c	Gee Vee Pty Ltd	Gee Vee Pty Ltd	Legal and Beneficial ownership	10,617,759 Ordinary Shares	10,617,759
Gregory James Wheeler	Gee Vee Pty Ltd	Gee Vee Pty Ltd	Taken under section As above 608 of the Corporations Act to have a relevant interest by reason of having control of Gee Vee Pty Ltd		As above

5. Changes in association

The persons who have become associates (2) of, ceased to be associates of, or have changed the nature of their association (9) with, the substantial holder in relation to voting interests in the company or scheme are as follows:

Name and ACN/ARSN (if applicable)	Nature of association

6. Addresses

The addresses of persons named in this form are as follows:

Name	Address
Gee Vee Pty Ltd	2 Yarrimup Close, Duncraig, WA, 6023
Gregory James Wheeler	As above

Signature

print name Gregory James Wheeler

sign here

Capacity Director

01/06/2011

date

DIRECTIONS

If there are a number of substantial holders with similar or related relevant interests (eg. a corporation and its related corporations, or the manager and trustee of an $(1)$ equity trust), the names could be included in an annexure to the form. If the relevant interests of a group of persons are essentially similar, they may be referred to throughout the form as a specifically named group if the membership of each group, with the names and addresses of members is clearly set out in paragraph 6 of the form.

$\frac{1}{\lambda}$

See the definition of "associate" in section 9 of the Corporations Act 2001. $(2)$

$(3)$ See the definition of "relevant interest" in sections 608 and 671B(7) of the Corporations Act 2001.

$(4)$ The voting shares of a company constitute one class unless divided into separate classes.