Helix Resources Limited (ASX: HLX) (Helix or the Company) is pleased to announce initial pXRF readings from the recently completed augur soil surface sampling program, targeting additional copper systems along the Collerina Trend.

Helix has continued to work-up regional targets along the broader Collerina Copper Trend with over 1,000 first pass auger soil samples collected using the Company's Landcruiser mounted hydraulic auger rig.

All samples collected have been initially tested with a pXRF. Samples from anomalous areas are being sent to a certified laboratory to assay for precious and base metals. This pXRF work is being utilised during the programs to prioritise areas for infill, fast-tracking targeting for follow-up drilling.

Collerina South Prospect

Auger sampling has covered the south east extension of the host rocks of the Collerina Deposit, by approximately another 2km.

Whilst sampling to date is on a 100m x 200m grid, and much broader than the surface sampling over the Collerina Deposit, a pattern of complex folding (mimicking the complexity noted in the magnetics) appears to be emerging in the copper-in-soil anomalism at this Prospect. This pattern is very similar to the folding seen at the micro-scale in Collerina Deposit core. Thickening of sulphides o fold noses will be the priority areas to follow-up and infill at the Collerina South Prospect.

Widgelands NE Prospect

First-pass auger sampling has been undertaken on a 400m x 100m grid over the northern end of the Collerina Copper trend. Helix has previously reported surface rockchips returning up to 7.3% Cu and 0.5g/t Au from sub-cropping ironstones in this area (refer ASX ann 13 Feb 2018).

The Collerina Copper Trend bifurcates here with two prospective trends present. These trends continue NNW on Helix's Quanda and Honeybugle tenements to become the Tritton Mine and Kurrajong Deposit trends in Aeris' Tritton-Girilambone mine camp.

Surface sampling across this target area identified a series of elongate copper-in-soil anomalies that coincide with geological, magnetic and subtle airborne EM trends. Infill sampling to refine anomalies is planned.

Tindalls Prospect

At the Tindalls Prospect area, two historic shafts (approximately 50m deep) are located on a favourable geological and structural trend. An Ironstone breccia similar to that seen at the Collerina Deposit has been mapped at surface along this trend. Interpretation of the local Magnetics suggests evidence for multiple deformation events across this area, a key component to developing structural thickening and copper enrichment at the Collerina Copper Deposit. The recent auger sampling has confirmed a continuous trend of copper in soil anomalism between the Yathella Prospect to the North and Max's Folly to the south

Ongoing Regional Programs

Further sampling is continuing, testing areas including the Homeville Trend, a trend north of the Collerina Deposit and infill target areas identified from the auger programs so far. Up to 2000 additional samples are expected to be collected during this phase. Robust copper-in-soil anomalous areas will be assessed and prioritised for initial drill testing.

This work continues to illustrate the high value potential targets that are being generated from within Helix's asset portfolio. The new prospect areas being targeted have not been subject to modern exploration.

Rehabilitation

During the 2019 field season Helix has also systematically completed its rehabilitation commitments on its NSW tenements. Clearing rehabilitation liabilities provides flexibility and up-scaling of future drill programs on our flagship Cobar Region assets.

Contact:

Mick Wilson

Tel: +61 8 9321 2644

Email: mick.wilson@helix.net.au

Forward-Looking Statements

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

No new information that is considered material is included in this document. All information relating to exploration results has been previously released to the market and is appropriately referenced in this document.

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