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Reserves and Resources

Tunkillia Resource May 2007

(Minotaur Exploration Limited 51% , Helix 49%)

The total oxide gold resource for Area 223 at a 0.5g/t Au cutoff is classified according to the JORC code (2004) as:

JORC Category Million tonnes Grade g/t Au Ounces
Measured 1.2 1.8 66,000
Indicated 2.0 1.3 86,000
Inferred 2.5 1.0 77,000
TOTAL 5.7 1.3 230,000
The total primary gold resource for Area 223 at a 1.0g/t Au cutoff to an approximate depth of 200 metres below ground level is classified according to the JORC code (2004) as: 

JORC Category Million tonnes Grade g/t Au Ounces
Indicated 4.2 2.0 270,000
Inferred 4.4 2.1 300,000
TOTAL 8.6 2.1 570,000
Within the primary zone, silver is associated with gold in the approximate ratio 3:1 The silver resource for primary zone blocks with cutoff grade 1.0g/t Au and based on unrestricted gold with an inverse distance power of 1 is: 

JORC Category Million tonnes Grade g/t Ag Ounces
Indicated 4.2 5.7 770,000
Inferred 4.4 5.7 810,000
TOTAL 8.6 5.7 1,600,000
The information in this report that relates to Mineral Resources or Ore Reserves on the Tunkillia Project is based on information compiled by Dr A. P. Belperio, who is a full-time employee of Minotaur Exploration Limited and a Fellow of the Australasian Institute of Mining and Metallurgy. Dr A. P. Belperio has a minimum of 5 years 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”. Dr A. P. Belperio consents to the inclusion in the report of the matters based on his information in the form and context in which it appears.


Yalleen JV Resource* – April 2009

(*Helix maintains 30% interest in Iron Ore)

Table A: Yalleen Project April 2009 Inferred and Indicated Mineral Resource
Deposit Tonnes Fe SiO2 Al2O3 P S LOI Mn MgO
  MT % % % % % % % %
Kumina Creek Deposit
Measured
 - - - - - - - - -
Indicated 34.96 57.53 5.18 3.70 0.060 0.015 8.24 0.06 0.11
Inferred 23.61 57.53 5.19 3.77 0.060 0.015 8.15 0.07 0.11
Total 58.57 57.53 5.18 3.73 0.060 0.15 8.20 0.06 0.11
                   
Robe Exit Deposit
Measured - - - - - - - - -
Indicated 12.91 56.50 5.52 3.74 0.053 0.018 9.41 0.05 0.14
Inferred 12.82 56.32 5.45 3.89 0.064 0.016 9.31 0.03 0.11
Total 25.73 56.41 5.49 3.81 0.058 0.017 9.36 0.04 0.12
                   
Total Resource - CID
Measured - - - - - - - - -
Indicated 47.87 57.25 5.27 3.71 0.058 0.016 8.56 0.06 0.12
Inferred 36.43 57.10 5.28 3.81 0.061 0.015 8.56 0.06 0.11
Total 84.30 57.19 5.28 3.75 0.060 0.016 8.56 0.06 0.11

The information in this report that relates to the Kumina Creek and Robe Exit Mineral Resources is based on information compiled by Mr Stuart H Tuckey. Mr Tuckey is full-time employee of the API Management Pty Ltd and has sufficient experience which is relevant to the style of mineralisation and type of deposits under consideration and to the activity which they are undertaking to qualify as Competent Persons as defined in the 2004 Edition of the ‘Australasian Code of Reporting of Exploration Results, Mineral Resources and Ore Reserves’.