Helix Resources Limited

Gold, Copper, Iron Ore in Australia and Chile

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Helix Resources Limited (ASX:HLX) is a minerals exploration company focused on identification, acquisition and development of projects in Australia and Chile

QUARTERLY REPORT 30[th] SEPTEMBER 2012

HIGHLIGHTS

CHILE

JOSHUA COPPER PROJECT

• Mitsubishi signs MoU (non-binding) to earn up to 50% of the Joshua Project by funding $19.5M.

• Parties are working to completion of deal by 31 October 2012; initial funding for +3,000m DDH drilling and development studies in Phase 1 ($4.5M to earn 20% of Joshua Project).

BLANCO Y NEGRO COPPER MINE – CHILE

• Mapping and surface sampling continue to define extent of Cu/Au system as precursor for DDH drill program to test IP chargeable feature in 1H13.

HADO COPPER PROJECT

• Mapping and sampling program over 5km² testing gold prospectivity associated with large hydrothermal intrusive breccia and associated porphyry systems, with maiden drill program in 1H13.

AUSTRALIA

RESTDOWN JV (AND REGIONAL PROJECTS) – NSW

• Scout drilling intersects 70m @ 1.1g/t Au in maiden holes at Boundary Prospect.

• RC drilling (2,000m) completed testing new geochemical anomalies targeting repetitions of Sunrise style gold systems on JV and Helix adjoining tenements.

OLARY MAGNETITE - SA

• Lodestone acquired 33% shareholding in Helix’s subsidiary Olary Magnetite Pty Ltd [Olary], with a cash payment of $0.5M to Helix and further $1M toward a 12,000m RC & DDH drilling program.

• Upon drilling approvals Lodestone will provide up to $1.4M to fully fund the proposed exploration program, earning 50% in Olary. The magnetite resource drill out is expected to commence December 2012 with Helix managing.

• Lodestone has right after independent JORC Report to acquire the remaining 50% shareholding in Olary by an additional cash payment of:- Cash Payment = JORC Resource tonnes x DTR% x $0.035 x 150%, with a floor price of $5M and cap of $9M.

CORPORATE

• Prospectus issued for 1:3 non-renounceable option issue at $0.025, with $0.015 payable before 30 September 2014, to raise up to $1.7M before costs. Offer closes 29[th] October 2012.

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Capital Structure

For Further Information please contact: Greg J Wheeler or Mick Wilson Suite 7 / 29 Ord Street, West Perth WA 6005 Telephone: +61 8 9321 2644 Fax: +61 9321 3909 Email: [email protected] Email: [email protected] www.helix.net.au

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Helix Resources Limited

Gold, Copper, Iron Ore in Australia and Chile

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Helix Resources Limited (ASX:HLX) is a minerals exploration company focused on identification, acquisition and development of projects in Australia and Chile

PROJECT ACTIVITIES

CHILE - COPPER AND GOLD PROJECTS

Chile Strategy

• Chile hosts world-class copper & gold mines, is very supportive of foreign investment and Helix considers it an appropriate location for the Company to achieve geographic diversification.

• Acquired projects 100% through regional targeting to provide best value uplift through exploration.

• Confirmed Joshua Target 1 copper porphyry size potential[[COMPLETED 1H12]] ; attract JV partner to fund Resource drilling and technical/economic studies; advance up ‘value curve’ and sell to invest in advancing our other Chile Projects.

• Confirm Joshua Target 2, 3 and 4 copper porphyry potential; track construction and DDH drilling of targets identified from IP survey/ground magnetics; repeat Joshua Target 1 strategy.

• Huallillinga Project – drill IP chargeable feature below Blanco y Negro mine to confirm Cu/Au mineralisation at depth; drill regional targets identified from IP survey and geological mapping which identified mineralisation associated with the regionally significant Los Mantos Fault.

• Hado Project – geochemistry program over Au 5km² target on surface prior to RC drill program; drill test IP chargeable feature to confirm nearby Cu porphyry target.

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Figure 1: Helix Region IV Projects (incl. Joshua Project) with neighboring mines/deposits and infrastructure

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Helix Resources Limited Gold, Copper, Iron Ore in Australia and Chile

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Helix Resources Limited (ASX:HLX) is a minerals exploration company focused on identification, acquisition and development of projects in Australia and Chile

Joshua Project [100%]

The Joshua Project is Helix’s most advanced project in Chile, is 100% owned and located 40km SE of Teck’s Carmen de Andacollo porphyry deposit (400Mt @ 0.38% Cu Reserve) in Region IV Chile. The Project is located 40km East of the township of Ovalle [Population 100,000], at low altitude (less than 1700m), with excellent nearby infrastructure. Since drilling 1st commenced mid-2011, with subsequent 200m spaced pole-dipole IP and ground magnetics leading to a DD program 1H12, the Company has outlined potential for a large scale, bulk tonnage copper(+gold) project likely to be amenable to open pit mining.

Drilling to date has been confined to the only access track developed to the SE flank of the Target 1 system testing approximately 0.2km² of Target 1 approximate 1.5km² area, the porphyry system now is interpreted to exceed 10km[2] with evidence that Target 4 is an extension to Target 1 and part of the larger system.

1[st] Program 1,200m RC Results 3Q11 – all from surface

• 256m @ 0.32% Cu Eq to EOH, incl. 27m @ 0.58% Cu Eq

• 156m @ 0.26% Cu Eq*

• 2[nd] Program 1,000m DD Results 1H12

• DDH2 - 0 to 400m @ 0.33% Cu Eq to EOH, with 70m @0.41% Cu Eq from 82m.

• DDH3 – 0 to 242m @ 0.14% Cu Eq* to EOH

• 143m @ 0.27% Cu Eq*

Access tracks onto the larger Northern flank of the Target 1 system are the next stage and results to date suggest that the system could improve both in grade and widths through this zone and is considered a priority target for future drilling.

MoU signed with Mitsubishi Materials Corporation.

Helix has entered into a Memorandum of Understanding [MoU] with Mitsubishi Materials Corporation (MMC) covering the Joshua Copper Project with the intention of the parties to complete the following transaction (without being legally bound):-

• MMC shall fund $4.5M of exploration activities to advance Joshua over the next 18 months to earn a 20% JV interest [ Phase 1 ]. Activities will include drilling of IP and alteration targets to confirm the potential size and grade profile of the Joshua Copper Porphyry, as well as a High Level Scoping study on technical and financial viability aspects of the Project.

• MMC has the right after Phase 1 to contribute $15M in funding and earn a 50% interest in the JV [ Phase 2 ]. Activities will include a +30,000m drilling program to determine a JORC Resource, as well as certain Pre-Feasibility Studies on:- Infrastructure Assessment; Mining & Processing; Environmental Reviews and Detailed Financial Analyses.

• If MMC does not exercise its right after providing Phase 1 funding, Helix and MMC will jointly fund and/or introduce a 3rd party to advance the Joshua Project.

• The parties are targeting 31 October 2012 for deal completion following MMC due diligence.

MMC is a Japan-based multinational company focused on supplying basic materials to the World. MMC has established operating bases in 25 locations worldwide.

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Helix Resources Limited

Gold, Copper, Iron Ore in Australia and Chile

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Helix Resources Limited (ASX:HLX) is a minerals exploration company focused on identification, acquisition and development of projects in Australia and Chile

Modeling of additional IP Survey data

During the quarter Helix, using an external geophysics consultant, has undertaken 3D inversion modeling of the Pole-Dipole IP data collected in June-July 2012. Additional 200m stationed lines were collected on the northern and southern extents of the target area (400m Nth and 400m Sth). The additional information was amalgamated with the previous 3 lines over Joshua Target 1 to assist in defining the porphyry system.

Detailed field mapping, surface sampling was undertaken by our team covering the extent of Joshua Target 4. Combining with the interpretation of the IP inversions provides strong evidence that Target 1 and Target 4 are intimately associated and likely to be part of a larger system.

Work is concentrating on mapping the associated alteration zones, geology and geochemistry to assist in determining where to best locate access tracks and drill pads to test zones with potentially higher tenor copper within this large system.

Additional Concessions

As the Joshua porphyry system appeared to extend beyond the current northern extent of the Companies exploration concessions, Helix has applied for an additional 18km² of concessions along the northern boundary (where available) to cover these potential extensions of the system.

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Figure 2: 3D inversion model shells of IP chargeability with mapped geology and surface geochemistry.

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Helix Resources Limited Gold, Copper, Iron Ore in Australia and Chile

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Helix Resources Limited (ASX:HLX) is a minerals exploration company focused on identification, acquisition and development of projects in Australia and Chile

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Figure 3: Immediate zone of interest on north and north-east flank of Joshua Target 1

Huallillinga Copper/Gold Project

Huallillinga Project is a 95km² area with significant potential for shear hosted copper and gold. With little evidence of modern exploration in the district, Helix has identified at least two mineralising events associated with large structures (5m to 30m wide) controlled by a regional shear zone which exceeds 3 km of strike in several areas. Artisanal workings in the area exploit both mineralisation events. It is also important to note that artisanal workings have only exploited areas of outcrop with structures clearly continuing under shallow cover throughout the district.

The entire area is controlled by a significant regional fault system associated with the Los Mantos Fault, which hosts several significant copper and gold systems particularly to the south including the Punitaqui Mines (Glencore).

Helix is advancing exploration at two levels:-

• negotiating with several local small-scale miners to consolidate all prospects into a meaningful near term production operation; and

• targeting regional prospectivity to identify significant mineralised systems using geochemistry, geophysics and drilling.

Blanco Y Negro Mine

The Blanco y Negro mine located within the Huallillinga Project was purchased 1H12 to fast-track our goal of defining economically exploitable Cu/Au resources attractive to nearby operating mills. Anecdotal information suggests artisanal mining at the rate of 10 tonnes per day recovering material with a grade of 1.5% to 2% Cu.

Rock-chips to 1.1% Cu (over 4.5m) and up to 1.3g/t Au (over 4.2m) in channel samples taken from outcrop over a strike exceeding 900m provides evidence a large Cu/Au target is present. An IP survey has identified a +600m wide chargeable feature below surficial mine workings, with a maiden drill program planned for 1H13.

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Helix Resources Limited

Gold, Copper, Iron Ore in Australia and Chile

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Helix Resources Limited (ASX:HLX) is a minerals exploration company focused on identification, acquisition and development of projects in Australia and Chile

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Blanco Y Negro Mine Workings
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Figure 4: IP Chargeability inversion over Blanco Y Negro mine

Hado Gold/Copper Project

The Hado Project targets the same geological domain as the Joshua Area (Cretaceous volcanics intruded by Paleocene-Eocene intrusives) and is situated 25km S of Joshua and 18km by road from the township of Monte Patria. The system covers an area exceeding 5km² and is semi-circular in shape, with historic artisanal workings identified in Qtz (+Au & Cu) veins striking N-S and NNW throughout the system.

The June-July IP survey has identified both a Cu and Au target for follow up.

A gold target is +1,500m x 500m with historical gold workings present and sub-crop rock-chips have returned up to 0.6g/t Au (reported last quarter). Helix’s technical team has undertaken detailed mapping and sampling over the areas of interest to isolate targets in preparation for a maiden drilling program in 1H13. This gold mineralisation appears to be associated with a large hydrothermal intrusive breccia system that is exposed at surface, with oxidised sulphides disseminated throughout the sericite altered brecciated material.

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Photo 1: oxidised hydrothermal breccia material from Hado gold target area.

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Helix Resources Limited

Gold, Copper, Iron Ore in Australia and Chile

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Helix Resources Limited (ASX:HLX) is a minerals exploration company focused on identification, acquisition and development of projects in Australia and Chile

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Figure 5. Preliminary geology map and IP Chargeability inversion over Hado gold target (Detailed mapping and sampling underway)

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Helix Resources Limited Gold, Copper, Iron Ore in Australia and Chile

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Helix Resources Limited (ASX:HLX) is a minerals exploration company focused on identification, acquisition and development of projects in Australia and Chile

COPPER & GOLD PROJECTS - NSW

Strategy

• Secure significant ground holding [+2,000km²] prospective for Cu and Au with excellent infrastructure [including copper and gold processing plants, some with excess capacity]

• Grow Resource from current 100,000oz Au and 18,000t Cu using geophysics geochemistry and drilling to isolate additional mineralised zones

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Figure 6: Location of Helix project Central NSW

RESTDOWN JV & MURIEL TANK JV PROJECTS

EL 6140, EL6501& EL6739:- Helix Resources 70% - Glencore International AG 30% (Contributing)

The Projects are located 40km to 70 km SE of Cobar in Central West, NSW with the tenement package covering an area of approximately 278km² (Restdown JV Project 188km², Muriel Tank JV Project 90km²).

Restdown Gold Project

The Restdown Project is ±25km SW of the historic Mt Boppy Gold Mine (produced ~500,000 oz at +10g/t Au, now owned by PolyMetals) and ±35km N of YTC’s Nymagee and Hera development projects. In 3Q11 Helix defined an inferred resource of 2.6Mt @ 1.2g/t Au for 100,000oz[(see resource table)] which remains open in all directions.

Helix has determined significant potential for repeat deposits with the host lithologies and controlling structures evident throughout the mineral field and completed a regional RC drill program 3Q12 to test six target areas with the aim of increasing the gold resources on the project and surrounding 100% owned HLX tenements.

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Helix Resources Limited

Gold, Copper, Iron Ore in Australia and Chile

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Helix Resources Limited (ASX:HLX) is a minerals exploration company focused on identification, acquisition and development of projects in Australia and Chile

Prior to commencement of drilling in August, surface samples collected from the various target areas returned encouraging results with highgrade rockchips collected from sub-crop at Amity’s reward (11.7g/t Au and 26.7g/t Au) and the Boundary target (6.9g/t Au). Drilling has targeted zones below or nearby to these rockchips and results are expected in coming weeks.

Drilling Results

Scout drilling to test a gold geochemical anomaly at the Boundary Prospect returned 70m @ 1.1g/t Au from a down hole depth of 23m within an overall 260m wide zone of gold mineralisation (>0.1g/t Au). The mineralisation remains open along strike and down dip.

The Boundary Prospect is located ~1.4km east of the Sunrise and Good Friday deposits (100,000oz Au Inferred Resource). The single fence line of 3 holes tested a zone ~300m wide to a maximum depth of 100m vertical. The central hole HRRC091 returned 70m @ 1.1g/t Au from 23m (with individual metre results returning up to 12.7g/t Au). The adjacent holes, HRRC090 & 092, returned gold mineralisation and associated arsenic/antimony anomalism, consistent with a low grade halo to significant gold mineralisation at the known deposits in the goldfield.

Table 1: Significant drill results from Boundary Project scout drilling

Results based on 1m sampling with intercepts on 0.1g/t cut (Au) with max 3m internal dilution. Gold assays via fire assay.

The Boundary Prospect lies on the eastern edge of the Restdown JV tenement, and the associated gold geochemical anomaly continues onto Helix’s 100% owned Little Boppy South tenement and remains open in all directions. The Restdown JV is between Helix (70% and Managing) and Glencore (30% and Contributing).

The discovery of such grades in new deposits in this goldfield provides scope to increase the resource inventory, located in the infrastructure rich Cobar region of NSW, with several producing or near production mines within trucking distance of the prospects.

Drilling was also undertaken on several other greenfields prospects on Koree (EL7745), Little Boppy (EL7482) and Quanda (EL7438) to test for basement gold mineralisation associated with anomalous gold in auger soil geochemistry and structural targets. All areas tested were Helix generated anomalies sampled and defined using the Company’s soil auger equipment.

Drilling intersected numerous wide zones of anomalous gold at Sunrise NE (incl. 22m @ 0.2g/t Au from 2m in HRRC088, 15m @ 0.2g/t Au from 15m in HRRC089) and Amity’s Reward (incl. 22m @ 0.1g/t Au from 20m in HRRC081), together with encouraging base metal results from the Snelson’s Central Prospect (incl. 1m @ 30.5g/t Ag, 0.5% Cu and 0.8% Zn from 35m in HRRC078). All holes were drilled at a dip of 60° to 070-080. Drilling was not completed at the Battery Tank Prospect due to land access issues at the time of drilling.

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Helix Resources Limited Gold, Copper, Iron Ore in Australia and Chile

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Helix Resources Limited (ASX:HLX) is a minerals exploration company focused on identification, acquisition and development of projects in Australia and Chile

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Figure 7: Location of drill holes in Restdown area.

A single hole was drilled under one shaft in a cluster of historic working at the Aurora Prospect on the Quanda Project. 2m @ 0.2g/t Au was returned from 46m in HRRC094 (480255mE, 6490115mN, 96m, -60° to 080). A single 108m hole (HRRC087 – 430895mE 6506280mN, -60° to 050) was also drilled at the Epithermal target on Little Boppy Project. The last 30m of the hole intersected anomalous arsenic and antimony suggesting the drill hole has tested the periphery of a system and the targeted gold zone was not reached. The target is currently an open along strike 850m x 400m gold+arsenic+antimony anomaly.

These first-pass scout drilling results are very encouraging and illustrate the potential for additional systems in the goldfield. Future work will concentrate on infill soil auger (25m x 25m), detailed structural mapping on Boundary, Sunrise NE, Battery Tank, Epithermal Vein and Amity’s Reward with follow-up drilling to test the findings. The Snelson’s area will be re-assessed with a base metal model in mind.

CANBELEGO JV – NSW [ Helix Resources 51%, moving to 70% - Straits 49% (Diluting)]

A recent review of the resource area (1.5Mt @ 1.2% Cu for 18,000t Inferred) at the Canbelego Mine Prospect has highlighted several zones below and along strike of previous drilling that indicate untested plunges may exist similar to Avoca Tank [Straits] and Nymagee [YTC].

A small ground-based EM survey was conducted over Canbelego resource area, Canbelego West and regional target Caballero. A strong EM Conductor was detected below the Canbelego Mine resource, which is currently being modelled to assist in targeting a drilling program to be planned to test the down dip/down plunge extensions of the system.

OTHER NSW PROJECTS – (LITTLE BOPPY– QUANDA – FIVEWAYS- TOTTENHAM) [Helix 100%]

Little Boppy: A 108m RC hole was drilled into an epithermal gold target defined by auger soils, intersecting ~80m of altered sediments and veining with variable sulphide content.

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Helix Resources Limited

Gold, Copper, Iron Ore in Australia and Chile

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Helix Resources Limited (ASX:HLX) is a minerals exploration company focused on identification, acquisition and development of projects in Australia and Chile

Quanda: Test lines using soil auger has confirmed existence of gold and basemetal anomalism on Quanda with a sample returning 0.5g/t Au in soils 400m south of historic workings. A 90m RC hole was drilled under these working to assess prospectivity.

NEW PROJECTS – (ELA 4665 & ELA 4666)

Helix has applied for two additional 100 unit tenements immediately north of Straits’ Tritton/Murrawombie tenement. The tenements cover the extension of the copper prospective VMS belt and will be targeted initially using the company’s auger rig to isolate mineralisation and drill targets. The project area covers the northern extensions of Exley volcanic complex and increases Helix’s significant exposure to this exciting region.

OLARY MAGNETITE PROJECT – SA [Helix Resources Ltd 75% - EL4022; EL3956]

Strategy

• Attract JV partner to fund Resource and technical/economic studies in this new iron ore region; seek approvals for a 12,000m resource RC drill program to determine a Resource; sell our interest.

Share Subscription Agreement Executed and $1.5M part funding received

Helix executed a Share Subscription agreement with Lodestone Equities Ltd [ Lodestone ] regarding the Olary Magnetite Project reflecting the terms of the MoU announced 23 July 2012.

• Lodestone has acquired a 33% shareholding in the Helix wholly owned subsidiary, Olary Magnetite Pty Ltd [ Olary ], with an up-front cash payment of $0.5M to Helix and $1M towards the proposed work program.

• Upon all approvals being received to enable Resource drilling to commence, Lodestone will provide a further maximum of $1.4M to earn 50% in Olary.

• Lodestone has one month after receipt of an independent JORC Report to elect whether to acquire the remaining 50% shareholding in Olary by an additional cash payment of:- Cash Payment = JORC Resource tonnes x DTR% x $0.035 x 150%, with a floor price of $5M and a cap of $9M.

• If the Option to acquire the remaining 50% is not exercised by Lodestone, the parties will operate Olary as a corporate joint venture

NON MANAGED JOINT VENTURES

TUNKILLIA GOLD PROJECT JV - SA

Strategy

• Dilute our JV interest to ±20% at Decision to Mine 3Q13 [assumes MUX spends $6M in 2012 for PFS and $8M in 2013 for BFS] and then sell de-risked project given we hold tenements 100% and JV agreement requires 100% participant approval to move to mine development.

YALLEEN IRON ORE PROJECT – WA

Strategy

• Negotiate acceptable JV agreement with API; await WPIOP infrastructure solution and access terms; re-assess Project viability; sell tenements/JV interest or dilute to Royalty.

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Helix Resources Limited

Gold, Copper, Iron Ore in Australia and Chile

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Helix Resources Limited (ASX:HLX) is a minerals exploration company focused on identification, acquisition and development of projects in Australia and Chile

*Details of the assumptions underlying the above estimations are contained in previous ASX releases or at www.helix.net.au

Copper Equivalent Calculation

Copper Equivalent (also Cu Eq*) Calculation represents the total metal value for each metal, multiplied by the conversion factor, added and expressed in equivalent copper percentage. These results are exploration results only and a 10% allowance has been made for recovery losses that may occur should mining eventually result. It is the Company’s opinion that elements considered here have a reasonable potential to be recovered as evidenced in similar multi-commodity natured porphyry mines elsewhere in Chile.

Copper Eq values calculated using spot copper prices : Cu Eq = (Cu_ppm) + (Au_ppm x 0.7).

Competent Persons Statement

The information in this announcement that relates to Exploration Results, Mineral Resources or Ore Reserves is based on information compiled by Mr M Wilson who is a full time employee of Helix Resources Limited and a Member of The Australasian Institute of Mining and Metallurgy. Mr M Wilson has sufficient experience which is relevant to the style of mineralisation and type of deposit under consideration and to the activity which he is undertaking to qualify as a Competent Person as defined in the 2004 Edition of the ‘Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves’. Mr M Wilson consents to the inclusion in the report of the matters based on his information in the form and context in which it appears. Details of the assumptions underlying any Resource estimations are contained in previous ASX releases or at www.helix.net.au

Exploration Target

References to exploration target size and target mineralisation in this announcement are conceptual in nature and should not be construed as indicating the existence of a JORC Code compliant mineral resource. Target mineralisation is based on projections of established grade ranges over appropriate widths and strike lengths having regard for geological considerations including mineralisation style, specific gravity and expected mineralisation continuity as determined by qualified geological assessment. There is insufficient information to establish whether further exploration will result in the determination of a mineral resource within the meaning of the JORC Code

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Appendix 5B Mining exploration entity quarterly report

Rule 5.3

Appendix 5B

Mining exploration entity quarterly report

Introduced 01/07/96 Origin Appendix 8 Amended 01/07/97, 01/07/98, 30/09/01, 01/06/10, 17/12/10

Name of entity

Consolidated statement of cash flows

• See chapter 19 for defined terms.

17/12/2010 Appendix 5B Page 1

Appendix 5B Mining exploration entity quarterly report

Payments to directors of the entity and associates of the directors Payments to related entities of the entity and associates of the related entities

Current quarter $A'000 142 1.23 Aggregate amount of payments to the parties included in item 1.2 1.24 Aggregate amount of loans to the parties included in item 1.10 1.25 Explanation necessary for an understanding of the transactions Non-cash financing and investing activities 2.1 Details of financing and investing transactions which have had a material effect on consolidated assets and liabilities but did not involve cash flows 2.2 Details of outlays made by other entities to establish or increase their share in projects in which the reporting entity has an interest Lodestone Equities Ltd has advanced $1M to acquire a 25% interest in Olary Magnetite Pty Ltd to fund exploration on Olary tenements. Lodestone will advance a further maximum $1.4M to acquire an additional 25% interest in Olary Magnetite Pty Ltd with such funds directed to exploration on Olary tenements.

Financing facilities available

Add notes as necessary for an understanding of the position.

• See chapter 19 for defined terms.

Appendix 5B Page 2

17/12/2010

Appendix 5B Mining exploration entity quarterly report

Estimated cash outflows for next quarter

Reconciliation of cash

Changes in interests in mining tenements

• See chapter 19 for defined terms.

17/12/2010 Appendix 5B Page 3

Appendix 5B Mining exploration entity quarterly report

Issued and quoted securities at end of current quarter

Description includes rate of interest and any redemption or conversion rights together with prices and dates.

• See chapter 19 for defined terms.

Appendix 5B Page 4

17/12/2010

Appendix 5B Mining exploration entity quarterly report

Compliance statement

• 1 This statement has been prepared under accounting policies which comply with accounting standards as defined in the Corporations Act or other standards acceptable to ASX (see note 5).

• 2 This statement does give a true and fair view of the matters disclosed.

23 October 2012 Sign here: ............................................................ Date: ............................ (Company secretary) Joneen McNamara Print name: .........................................................

Notes

• 1 The quarterly report provides a basis for informing the market how the entity’s activities have been financed for the past quarter and the effect on its cash position. An entity wanting to disclose additional information is encouraged to do so, in a note or notes attached to this report.

• 2 The “Nature of interest” (items 6.1 and 6.2) includes options in respect of interests in mining tenements acquired, exercised or lapsed during the reporting period. If the entity is involved in a joint venture agreement and there are conditions precedent which will change its percentage interest in a mining tenement, it should disclose the change of percentage interest and conditions precedent in the list required for items 6.1 and 6.2.

• 3 Issued and quoted securities The issue price and amount paid up is not required in items 7.1 and 7.3 for fully paid securities .

• 4 The definitions in, and provisions of, AASB 6: Exploration for and Evaluation of Mineral Resources and AASB 107: Statement of Cash Flows apply to this report.

• 5 Accounting Standards ASX will accept, for example, the use of International Financial Reporting Standards for foreign entities. If the standards used do not address a topic, the Australian standard on that topic (if any) must be complied with.

• See chapter 19 for defined terms.

17/12/2010 Appendix 5B Page 5