Executes Formal Agreement on Joint Venture at Gold Basin

• Helix can earn up to 40% interest in the Gold Basin oxide gold project in Arizona, USA
• Helix to spend up to $3 million over 2 years to earn its interest
• Project has an inferred resource of 299,800 ounces of gold at 1.12 g/t

Helix Resources Ltd has executed a formal agreement with Gold Basin Resources (TSX-V: GXX) to earn up to a 40% interest in the Gold Basin oxide gold project in Arizona, USA. Under the agreement, Helix's wholly owned subsidiary Leichhardt Resources (Queensland) Pty Ltd can earn an initial 20% interest by spending $1 million over 2 years, with the ability to earn up to 40% by spending a total of $3 million. The Gold Basin project covers 42 km2 of highly prospective tenure and has an existing inferred resource of 299,800 ounces of gold at 1.12 g/t. Helix plans to focus on delivering a JORC Mineral Resource Estimate and Preliminary Economic Assessment as a priority, followed by additional drilling. The project is located in the prolific Walker Lane Gold Trend and preliminary metallurgical testwork has shown excellent recoveries, supporting the potential for a future low-cost oxide gold heap-leach operation.

Helix plans to focus on delivering a JORC Mineral Resource Estimate and Preliminary Economic Assessment for the Gold Basin project as a priority, followed by additional drilling to further expand the resource.