Helix Resources announced the imminent commencement of a regional scale auger geochemical sampling program. The objective is to rapidly evaluate numerous historical and early-stage targets to identify and advance new copper prospects to add to its existing Mineral Resource inventory at its copper projects located in the Cobar region of NSW. Having secured a strong funding position in May 2022 and built up its Orange based exploration team the Company is now aggressively widening its regional scale exploration activities to maximise its potential for a major copper discovery.

These additional activities include the new geochemical auger program, additional airborne geophysical surveys and reprocessing of existing large data sets, regional structural mapping and interpretation. Concurrently, Helix is continuing an active ongoing reverse-circulation (RC) and diamond drilling programs on more advanced targets. These regional scale exploration initiatives are designed to generate additional advanced targets to increase the level of drilling activity to deliver significant growth of the existing copper resource base.

Regional Geochemical Auger Drill Sampling: Following analysis of historical auger soil sampling data overlain on recent detailed landform and regolith mapping the Company can interpret which of the historical soil sampling was not effective due to being over areas of transported cover. It has also highlighted areas which it thinks will be amenable to first pass coverage to assess recent VTEM anomalies and various prospects which have never truly been assessed in a systematic manner. This program, comprises approximately 13,000 holes/samples and will be ongoing for the next 12 months involving 1 to 2 special purpose hydraulic auger rigs.

Several traverses of aircore or slim-line RC drilling are being contemplated on the recently granted Exploration Licences overlying the newly identified Quanda Trend to initially map the depth of cover to provide context for further geochemical sampling and airborne geophysical surveys. Knowing "what" is being sampled by the auger drilling is critical to understanding the resultant geochemical assays. This requires mapping and interpreting the landforms and regolith profiles i.e., the erosional or depositional regimes and weathering history of the different areas.

To advance this knowledge, Helix utilised "Sentinel" multispectral satellite data overlain onto a new high-quality, detailed elevation data to provide robust context in planning areas suitable for auger geochemical sampling. Sampling using a hydraulic auger rig is shallow, generally less than 5 metres depth, but occasionally deeper, so it is important to identify areas which are suitable to test for geochemical anomalies related to underlying bedrock hosted mineralisation. There are significant areas of transported cover on Helix's tenure which mask any geochemical signals that could disperse from the underlying bedrock.

These areas have been excised from the planned coverage areas. There are also areas covered by historical Helix hand-auger sampling which appear to have been too shallow for effective sampling and will be retested with hydraulic auger and sampled under geological supervision. The sampling procedure will be to collect a 0.5 to 1.0 kg sample of `minus-2mm' materials from each hole and submit for low-level, multi-element analysis to generate multifactor geochemical anomaly maps.

The Helix personnel supervising the drilling will also utilise portable, handheld XRF analyser to "live-map" certain elements and optimise the sampling survey. The assay results are expected to have a turn-around time in the laboratory of approximately 30 to 45 days. To better understand the regolith over the newly identified Quanda Trend, where there is very little to no historical exploration or outcrop, the Company plans to undertake several traverses utilising vertical aircore or a slimline RC drill method to `map' the regolith.

Mapping the weathering profile down the hole and contouring the depth to bedrock from surface and understanding the extent of transported cover will assist in planning effective geophysical and geochemical surveys in the future. Commensurate with the regolith analysis, the Company is also compiling and interpreting various geological, elevation, geochemical and geophysical data sets to better understand the key geological structures controlling the distribution of mineralisation - at both regional and prospect scales. One of the exciting new aspects to arise from this work is the identification of two additional distinctive mineralised trends prospective for copper termed the `Restdown Trend' and the `Quanda Trend' in the Western and Eastern tenement groups, respectively.

A review of the existing geophysical data and the information from the upcoming auger-sampling program will contribute to better define these trends ahead of further airborne geophysical surveys such as VTEM - a very successful prospecting tool in the greater Cobar region. Next Steps: Auger drilling will commence imminently and to be ongoing for the next 9-12 months with 1 to 2 rigs active at any one time. The timing of areas to test will be dictated by land access matters such as weather and cropping activities.

Therefore, the initial auger program will commence on the Western Tenement group areas where the land use is predominantly open range grazing compared to the cropping intensive activities in the east. Helix has capacity and the ability to rapidly follow up (subject to land access and approvals from NSW Resources) to tighten up sample spacing to define copper targets for drill testing - with either /or a combination of geophysics, infill auger or scout RC drilling. The Company looks forward to providing regular updates on the geochemical results for this regional scale program over the existing and newly emerging copper-mineralised trends.