Helix Resources Limited (ASX: HLX) (Helix or the Company) is pleased to provide an exploration update for the Cobar Gold Project.

HIGHLIGHTS

A Reverse Circulation (RC) drill rig has recommenced drilling at The Cobar Gold Project, NSW. This program is expected to be completed in November.

Drill pad and access track preparation for all the remaining prospects in this program will be completed this week.

Although the area has many old shafts and workings, this phase of work will be the first-ever drilling at Lone Hand, Girl in Blue, Reward North, Homeward Bound, Republic East and other new regional prospects in the gold camp.

Helix Executive Chairman, Peter Lester, said: 'In this second phase of the program, drilling will be focussed on previously untested areas identified as a high priority for drilling in the broader gold camp. Track and pad clearing at historic workings and new structural zones is being finalised this week. This current work is aimed at identifying areas where there is potential to extend the current 'from-surface' Inferred Resource base of 118,000oz gold'.

Drill Program

The gold drilling program planned as a result of the mid-year capital raising envisaged 29 holes for approximately 3,400m of drilling. The first 13 holes were in areas with reasonably easy access and known gold mineralisation identified in rock chip sampling and previous drilling. The remaining holes in the program will be in previously undrilled areas where high potential geochemical and structural indicators were highlighted in a recent review by internal and external consultants. This current gold drilling program is expected to be completed during November.

Contact:

Peter Lester

Tel: +61 8 9321 2644

Email: helix@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.

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