24 Nov

Investor Presentation - 121 Mining Investment Conference

ASX Announcement 2 4 November 2021 Corporate Office 78 Churchill Avenue Subiaco WA 6008 www.helixresources.com.au T +61 8 9321 2644 E helix@helixresources.com.au INVESTOR PRESENTATION Helix Resources Limited (ASX: HLX) (“Helix” or “the Company”) is pleased to announce that Managing Director, Mike Rosenstreich is participating in the on - line 121 Mi ning Investment conference speaking with investors from Europe, Middle East and North America. Attached is the presentation that he is speaking to at the conference. T his ASX release was authorised by the Company Secretary of Helix Resources Ltd . ABN: 27 009 138 738 ASX: HLX Contact Details: Helix Resources Limited 78 Churchill Avenue, SUBIACO, WA, 6008 PO Box 825 West Perth, WA, 6872 Email: helix@helixresources.com.au Web: www.helixresources.com.au Tel: +61 (0)8 9321 2644 Board of Directors: Peter Lester Non - Executive Chairman Tim Kennedy Non - Executive Director Jason Macdonald Non - Executive Director Mike Rosenstreich Managing Director Company Secretary Ben Donovan Investor/Media Contacts: Mike Rosenstreich Tel: +61 (0)8 9321 2644 Email: helix@helixresources.com.au David Taske r Chapter One Advisers Email: dtasker@chapteroneadvisors.com.au Tel: 0433 112 936 HLX 121 Mining Investment EMEA 23-25 November 2021 High - Grade Cobar Copper to Power a Cleaner World (ASX:HLX) IMPORTANT NOTICES This presentation has been authorised by the Board of Helix Resources Limited Competent Persons Statement The information in this report that relates to exploration results, Mineral Resource estimates and geological data for the Cobar projects is based on information generated and compiled by Mr Gordon Barnes and Mr Mike Rosenstreich who are both employees and shareholders of the Company. Mr Barnes is a Member of the Australian Institute of Geoscientists and Mr Rosenstreich is a Fellow of the Australasian Institute of Mining and Metallurgy. They both have sufficient experience that is relevant to the styles of mineralisation and types of deposits under consideration and to the activities being undertaken to each qualify as Competent Person(s) as defined in the 2012 Edition of the “Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves”. Mr Barnes and Mr Rosenstreich have consented to the inclusion of this information in the form and context in which it appears in this report. 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. 2 3 High-grade Copper Hits Around Existing HLX Deposits 1 ? Canbelego – 18m at 3.4% copper – extending mineralisation ? CZ – 7m at 2.8% copper (from 34m DH) - outlining new zones ? Lots of assays to come – drilling is ongoing Cobar Is A World-leading Mining Neighbourhood ? Cobar – well endowed copper (& gold) province ? Exceptional infrastructure with towns, airport, roads, water, power, telecoms and processing options within 75km Cobar, NSW Sydney 1 – Refer Appendix A INVESTMENT SNAPSHOT WELL FUNDED, STRONG ASSETS, NEW TEAM – CLEAR STRATEGY Strategic, Under-explored Regional Copper Trends ? High priority regional copper targets ? Major high-grade copper operations & discoveries ‘along strike’ to the north onto Aeris Resources’ (ASX:AIS) ground ? 120 ‘strike-km’ of under-explored prospective copper trends Highly Positive Copper Demand Outlook ? Copper is an essential metal for energy transformation CORPORATE SNAPSHOT 4 ASX CODE HLX Share price ( 10 th Nov 21 close) $0.017 Shares (listed) 1,258M Options & Performance Rights (unlisted) 42.5M Market Cap. $21.4M Cash (30 th Sept 21) $3.72M MAJOR SHAREHOLDERS % Yandal Investments Pty Ltd 4.1% BNP Paribas Noms Pty Ltd 2.6% Directors & Management 2% Top 20 27% BOARD OF DIRECTORS (REFER APPENDIX B) Peter Lester Non-Executive Chairman Mike Rosenstreich Managing Director Tim Kennedy Non-Executive Director Jason Macdonald Non-Executive Director 0 100 200 300 400 500 600 700 0 0.01 0.02 0.03 0.04 0.05 0.06 Millions Volume Close 12 MONTH SHARE PRICE & DAILY VOLUME GRAPH 5 Advanced Projects ? Completed ~3,500m in 25 drill holes across 2 advanced projects – CZ & Canbelego ? Hit copper in nearly all holes Regional Targets ? Increased airborne EM (VTEM) coverage from 20 strike-km to 120 strike-km ? 24 high-priority regional targets generated ? Advancing the Quanda, Five ways and Bijoux prospects ? Increased land position by ~200km 2 and acquired a significant Ni-Co Mineral Resource 1 New Team, locally based ? Established Exploration base in Orange NSW ? Replaced the entire exploration team – now all based in Orange Well capitalised Cobar, NSW Sydney 1 Refer ASX Report 28 September 2018 from Alpha HPA, formerly Collerina Cobalt Ltd EXECUTING THE HELIX STRATEGY Copper, Cobar, Funded, Focused on a Development Pathway LOOKING BACK ON 2021 SO FAR….. FOCUSED ON THE COBAR REGION, NSW 6 COBAR REGION METAL ENDOWMENT TRITTON COPPER OPERATIONS 1 25kt Cu pa CSA MINE 2 49.9kt Cu pa 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 MT BOPPY GOLD 5 Planned - 24koz Au ENDEAVOR LEAD/ZINC 4 C&M Sandfire (ASX:SFR) JV Refer Appendix C for details and data sources . PEEL RESOURCES/BASE METALS 7 Metal Endowment 134kt Cu, 295kt Zn, 145kt Pb, 20Moz Ag, 267koz Au (May Day, Mallee Bull, Wagga Tank, Southern Nights and Wirlong) QUINTANA MINERAL HILL GOLD/BASE METALS 6 74kt Cu, 85kt Pb, 42kt Zn, 6Mpz Ag, 267koz Au Major regional mineralised trends hosting: ? Production hubs ? Glencore (LSE:GLEN) ? Aeris (ASX:AIS) ? Aurelia (ASX:AMI) ? Manuka (ASX:MKR) ? Emerging producers ? Peel Resources (ASX:PEX) ? Quintana Resources (pvt.) ? Helix Resources (ASX:HLX) EXISTING MINERAL RESOURCES UNDERPINNED BY HIGH-PRIORITY COPPER TARGETS IDENTIFIED ON MAJOR REGIONAL TRENDS Two main tenement groups: ~1,500km 2 Three Major regional scale copper trends: 1. Rochford Trend – 30 km – Canbelego copper (gold) deposit 1 – 1.5Mt at 1.2% Cu (JORC 2004) 2. Collerina Trend – 65 km – The Central Zone (CZ) Mineral Resource 1 of 2Mt at 2% Cu 1 3. Meryula Trend – 25 km – Earlier stage Cu (+Pb/Zn) targets “EM finds copper in Cobar” In March 2021, regional EM coverage increased from ~25km to ~120km of prospective copper trends. 7 COPPER IN COBAR – UNTESTED REGIONAL POTENTIAL 1 – Refer Appendix A for details 1 2 3 EXTENDED MINERALISATION & NEW REGIONAL TARGETS Advanced Project: ? Canbelego copper deposit – 1.5Mt at 1.2% Cu (JORC 2004) ? 70:30 co-funded JV with Aeris Resources (ASX:AIS). HLX – 70% & Manager Regional Targets: 10 High-priority targets identified, including: ? Canbelego Extensions – North & South – Possible extensions and repeats of the Canbelego deposit ? Bijoux Prospect – significant anomalous drill intercepts ? Little Boppy – high priority regional VTEM targets 8 1. WEST BLOCK - ROCHFORD TREND 1 – Refer Appendix A ‘Mineral Resources’ for details Hole ID Interval Cu (ppm) BJRC003 10-38m 2,200 BJRC004 10-26m 1,586 CANBELEGO - OPPORTUNITIES TO EXTEND DEPOSIT IN ALL DIRECTIONS ? Copper mineralisation intersected in all five diamond drill holes (CANDD001 - CANDD005) ? Assay results confirm extensions to the existing mineralisation with highlights including: – 11m at 1.1% Cu from 270m (CANDD001) – 18m at 3.4% Cu , including 14m at 4.4% Cu (CANDD002) – 6m at 1.26% Cu from 286m (CANDD003) – 5m at 1.43% Cu from 286m (CANDD003) – 10m at 1.6% Cu from 298m (CANDD003), including 5m at 2.67% Cu – 1m at 6.98% Cu from 272m (CANDD004) – 3m at 1.22% Cu from 69m and 2m at 1.09% Cu from 443m (CANDD005) 9 1. ROCHFORD TREND 1 – Refer Appendix A ‘Mineral Resource Estimates’ for details CANBELEGO – POISED FOR FURTHER GROWTH 1. ROCHFORD TREND 1 – Refer Appendix A ‘Mineral Resource Estimates’ for details Canbelego Extensions ? Down-dip - DHEM surveying of CANDD005 identifies large conductive anomaly possibly indicating extension of the high-grade copper zone in CANDD002. Canbelego Repetitions ? VTEM highlighted potential repetitions to the North, Northeast and South of Canbelego Mineral Resource 1 ? Well supported by strong copper surface geochem Follow-up work planned: ? Surface EM – North, South & Northeast targets ? Resource focussed diamond drilling ? Surface geochem sampling ? Drill traverses across target zones ? Metallurgical testwork 10 EXTENDED MINERALISATION & NEW REGIONAL TARGETS Advanced Project: – CZ copper (gold) deposit 1 – 2.0Mt at 2.0% Cu & .1 g/t Au – 100% Helix – Drilling in progress / high-grade copper assays Regional Targets: 8 High priority targets identified including: ? Quanda Area – Largely untested area with historic workings and prospective geology – re-ranked with high confidence EM anomalies ? Honeybugle Area – Largely untested area with prospective surface geochem – re-ranked with high confidence EM anomalies ? Fiveways – Subtle conductors, north on trend from Mt Royal and Carolina copper deposits (Locksley Resources (ASX:LKY)) 11 2. EAST BLOCK - THE COLLERINA TREND 1 – Refer Appendix A ‘Mineral Resource Estimates’ for details CZ COPPER (& GOLD ) DEPOSIT 1 12 2. THE COLLERINA TREND ? New, shallow, high-grade ‘oxide- copper’ zone intersected ? Drilled over 100m and is open to the southeast ? Results include: ? 7m at 2.64% Cu & 1.18 g/t Au within 25m at 0.94% Cu from 20m ? 7m at 2.83% Cu within 30m at 0.86% Cu from 14m ? 3m at 2.74% Cu within 8m at 1.17% Cu from 32m ? CZ Mineral Resource 1 - zones of massive sulphides intersected in diamond drillholes with copper and zinc minerals observed 1 – Refer Appendix A for Mineral Resource details Draft – being Updated DRILLING IN PROGRESS, ASSAYS PENDING FROM CZ 13 2. THE COLLERINA TREND Diamond drilling ? Massive sulphides - from 102.3m to 105.5m comprising stratiform fine-grained pyrite and chalcopyrite (CODD0134 101.5m to 106.2m) ? Assays pending 65 STRIKE-KM ‘UNDER-EXPLORED’ Strong analogies with AIS’s Kurrajong & Constellation discoveries, north along trend 14 2. THE COLLERINA TREND – Follow-up work planned: ? Surface EM – Quanda & Fiveways ? Approved, regional scale auger-soil program over 40 strike- km of copper trend ? Resource focussed diamond drilling ( in progress ) ? Drill traverses across new target zones ? Metallurgical testwork – CZ core ? Geological modelling of Mineral Resource – New Model Ni-Co Mineral Resource 1 acquired as part of JV rationalisation Ni & Co assets complimentary to historical HLX regional Ni-Co results 15 2. THE COLLERINA TREND – “Value-add’ for HLX: ? Transaction rationalised pre-existing Royalty and JV obligations and added prospective copper ground ? HLX now owns a ‘high-grade’ lateritic Ni-Co Mineral Resource - Homeville ? Ni-Co are critical ‘energy-metals’ -along with copper ? High-grade regional Ni & Co drill results indicate potential for resource growth ? Preliminary metallurgical testwork indicates high Ni & Co recoveries at atmospheric pressure and std temperatures i.e. ‘benign metallurgy’ ? Seeking ‘Ni & Co focused’ investment partners 1 – Refer ASX Report 28 September 2018 from Alpha HPA Ltd (formerly Collerina Cobalt Ltd 16 COBAR EXPLORATION OVERVIEW – 6 MONTHS EXPLORATION MOMENTUM – A SYSTEMATIC PIPELINE OF WORK AND NEWS FLOW A COMPELLING AUSTRALIAN COPPER EXPLORATION OPPORTUNITY ? Well funded – executing a strong ‘drill-based’ program ? Defined copper resources – open ended growth potential; as just demonstrated with drilling at Canbelego & CZ ? Consistently delivered high-grade copper drill intercepts ? Identified significant, new copper regional copper targets ? New, focused exploration & management team, with new strategy – already generating positive results ? Strong long-term copper demand outlook 17 CORPORATE PERSPECTIVES – INVESTMENT SUMMARY 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 CONTACT 19 APPENDIX A - MINERAL RESOURCE ESTIMATES 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 has not been reported which 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. Cobar Gold (November 2019) (0.4g/t Au cut-off) Collerina Copper CZ (June 2019) (0.5% Cu cut-off) 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 2020,15 February 2021, 9 March 2021, 23 March 2021, 30 September 2021 14 October 2021 and 4 November 2021 . Helix is not aware of any new information or data that materially effects the information in these announcements. Canbelego* (October 2010) (0.5% Cu cut-off) * JORC 2004 Compliant Resource: For full details regarding estimation methodologies please refer ASX announcement on 7 October 2010 – reported as 100% of deposit 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 and12 January 2021. Helix Resources is not aware of any new information or data that materially effects the information in these announcements. Classification Type Tonnes Copper Gold Contained Copper Contained Gold Mt % g/t t Oz Indicated Oxide/Transition 0.17 1.1 0.0 1,900 200 Inferred Oxide/Transition 0.46 0.6 0.0 2,700 100 Total Oxide/Transition 0.63 0.7 0.0 4,600 300 Indicated Fresh 0.83 2.6 0.2 21,800 6,600 Inferred Fresh 0.57 2.5 0.1 14,100 2,500 Total Fresh 1.40 2.6 0.2 35,800 9,100 Indicated Oxide/Transition 0.17 1.1 0.0 1,900 200 Indicated Fresh 0.83 2.6 0.2 21,800 6,600 Inferred Oxide/Transition 0.46 0.6 0.0 2,700 100 Inferred Fresh 0.57 2.5 0.1 14,100 2,500 Total Combined 2.02 2.0 0.1 40,400 9,400 (Rounding discrepencies may occur in summary tables) 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 (Rounding discrepencies may occur in summary tables) 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) CABELEGO ASX EXPLORATION REPORTS - For full details of exploration results refer to the ASX announcements 3 May 2021, 12 May 2021, 31 May 2021, 3 June 2021, 23 June 2021, 21 July 2021, 12 August 2021. Helix Resources is not aware of any new information or data that materially effects the information in these announcements. 20 Cobar, NSW Peter Lester Mining Engineer Non Executive Chairman Mike Rosenstreich Geologist Managing Director Tim Kennedy Geologist Non Executive Director Jason Macdonald Lawyer Non-Executive Director Mr Macdonald is a qualified legal practitioner, focused on mining corporate and commercial issues. 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 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. 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. 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. APPENDIX B - BOARD & MANAGEMENT 21 APPENDIX C – REGIONAL PRODUCERS & DEPOSITS 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/ PEAK GOLD OPERATIONS 3 ? 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 MINERAL HILL 6 ? Multi-deposits: Parkers Hill, Red Terror, SOZ & EOZ ? Metal Endowment: 74kt Cu, 85kt Pb, 42kt Zn, 6Mpz Ag, 267koz Au KBL 2015 Annual Report 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 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 COBAR BASE METAL ASSETS 7 ? Multi-deposits: May Day, Mallee Bull, Wagga Tank, Southern Nights and Wirlong ? Metal Endowment: 134kt Cu, 295kt Zn, 145kt Pb, 20Moz Ag, 267koz Au Peel Mining 2020 Annual Report

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