Ann: Helix Secures Joint Venture Partner at Joshua Project Chile, page-2

Helix Resources Limited (ASX:HLX) (Helix or the Company) is pleased to advise that the company has executed a binding Heads of Agreement (HOA) with Manhattan Corporation Limited (ASX:MHC) (Manhattan) in relation to Helix’s 100%-owned Joshua Copper Project in Chile (Joshua Project). The HOA provides for the potential progression of the highly prospective and large-scale Joshua Project right through to completion of a Bankable Feasibility Study (BFS) at zero cash outlay from Helix. Key terms of the HOA The HOA provides an avenue for Manhattan to earn up to an 80% interest in the Joshua Project in exchange for Helix being free-carried through to completion of a BFS. Key terms of the HOA include:  Stage 1: Helix has granted an option to Manhattan whereby Manhattan can exercise that option by sole funding expenditure of A$1.0 million on the Joshua Project within 9 months of the Commencement Date, such expenditure to be expended on 3,000m of diamond drilling (Option).  If Manhattan exercises the Option by funding the requisite expenditure it shall have the right to earn up to an 80% interest in the Joshua Project on the following basis:  Stage 2: Manhattan may earn a 51% Joint Venture Interest in the Joshua Project by sole funding the expenditure necessary to complete a further 5,000m of drilling within 18 months of the Commencement Date.  Stage 3: If Stage 2 is completed, Manhattan may elect to earn a further 29% (giving it a total 80%) Joint Venture Interest by sole funding expenditure up to the completion of a BFS in respect of the Joshua Project.  In the event that Helix chooses not to contribute to the Joint Venture after the completion of the BFS (Stage 3), it will dilute its Joint Venture Interest in exchange for an uncapped 1.0% Net Smelter Return royalty over the Joshua Project.  Helix will be the Manager of the Joshua Project during Stage 1. Manhattan will be the Manager for Stages 2 and 3, unless Helix and Manhattan mutually agree that Helix is to be retained as Manager. HELIX RESOURCES LIMITED 2 The HOA remains conditional upon:  Manhattan completing its legal due diligence review of the Joshua Project within 14 days of the date of the HOA;  Receipt of any regulatory approvals required under all applicable laws and regulations in relation to the entry into the HOA (including grant of the option) within 3 months of the date of the HOA; and  Manhattan raising a minimum of A$3.0 million within 3 months of the date of the HOA.