Helix Resources (ASX: HLX)combined results paint ‘encouraging’ picture

Further Encouraging Copper Assays and Geophysics from Canbelego Main Lode

• Significant copper mineralisation further defines shoot positions
• North Shoot shows 3m at 1.3% copper
• South Shoot 7m at 1.0% Cu
• Downhole electromagnetic surveys give encouragement to test ‘core’ high-grade zones of the respective lode positions

“Helix has been exceptionally active undertaking a major exploration campaign consisting of more than 50 diamond and reverse circulation drill holes plus regional scale auger drilling.

“These latest results, which combined assays, observed copper-sulphides and downhole geophysics are encouraging and support our interpretation that the copper mineralisation has potential to extend well beyond the current outline of the 2010 Mineral Resource estimate.

“We will now undertake a full review of the Canbelego Main Lode results, in particular focussing on the high-grade shoot components and their potential to continue or to repeat.

“I think the history at both Aeris’ Tritton deposits, and the Glencore CSA Mine at Cobar show these high-grade copper systems can persist and ‘bloom’ with deep vertical depth extents which we must assess properly with good geology and modern geophysics.”

About the Canbelego Copper Deposit

The Canbelego Deposit is located 45km south-east of Cobar and 5km south of the historic Mt Boppy Mine along the Rochford Copper Trend. Historic production from the Canbelego Copper mine was reported (1920) to be ~10,000t of hand-picked ore grading 5% Cu with mining stopped at the water table at ~80 metres depth.

Canbelego is located on EL6105 which is a joint venture with local copper producer Aeris Resources (ASX: AIS). Helix holds 70% and is the Manager and AIS is a contributing, 30% partner.

Structural remobilisation is considered an important control on high-grade copper in these mineralised systems, termed Cobar-style base metal deposits. Copper mineralisation is developed as structurally controlled, sub- vertically plunging, semi-massive to massive sulphide shoots.

A mineral resource compliant with the 2004 JORC Code of 1.5Mt at 1.2% Cu (oxide, transition and fresh), 100% Inferred was reported in October 2010 as presented in Table 1. This Mineral Resource estimate is based on a total of 39 holes for 8,080 metres of RC and diamond drill core.

Other than results contained in this ASX release, Helix confirms that it is not aware of any new information or data that materially affects the Mineral Resource information included in Helix ASX release dated 7 October 2010 Initial Copper Resources for Canbelego and Exploration Update. All material assumptions and technical parameters underpinning the estimates in that release continue to apply and have not materially changed.

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