Helix Joint Venture Gold Basin Project

• Helix has entered into valid and binding agreements with Gold Basin Resources Corporation
• The joint venture has been properly established in accordance with the agreements
• Helix rejects Canex Metals Inc.'s assertion that the joint venture is invalid

Helix Resources Limited (ASX: HLX) ('Helix' or 'the Company') refers to a recent announcement released on the TSX Venture Exchange by Canex Metals Inc. ('Canex') in relation to Helix's joint venture with Gold Basin Resources Corporation ('Gold Basin'). The Canex announcement asserts that the Helix-Gold Basin Joint Venture is invalid. Helix notes that this assertion represents a claim by Canex only and does not constitute any legal determination. The Company considers that the announcement contains a number of inaccuracies and mischaracterisations which have previously been raised with Canex. Helix maintains that it has entered into valid and binding agreements with Gold Basin, the Joint Venture has been properly established in accordance with those agreements, and is in compliance with ASX Chapter 10 (Transactions with persons in a position of influence). Helix will continue to defend its position and will update the market as required.