Hellix Ventures Inc.
TSX VENTURE : HEL
OTCBB : HLLXF

Hellix Ventures Inc.

April 18, 2012 15:31 ET

Hellix Margarita Drill Program Results

VANCOUVER, BRITISH COLUMBIA--(Marketwire - April 18, 2012) - Hellix Ventures Inc. (TSX VENTURE:HEL)(OTCBB:HLLXF) - Frank Underhill, President, announces results from its Margarita gold project in southern Arizona. Hellix completed a total of twelve vertical HQ size diamond drill holes to a maximum depth of 100 feet to confirm historic near surface test results.

The values in Table 2 below show gold mineralized intervals (minimum three feet) using a 0.3 gram per tonne (0.01 ounces per ton) low cut-off grade. The highest value obtained was 10.5 g/Mt (.306 oz/t) from Hole #08 over 5 feet.

Table 1
Hole ID Easting Northing Projection Length (ft) Project Area
HVM12-01 475681 3478965 UTM WGS84 75 MAIN MARGARITA
HVM12-02 475652 3479102 UTM WGS84 51 NORTH MARGARITA
HVM12-03 465705 3478963 UTM WGS84 100 MAIN MARGARITA
HVM12-04 475700 3478943 UTM WGS84 100 MAIN MARGARITA
HVM12-05 475690 3478981 UTM WGS84 100 MAIN MARGARITA
HVM12-06 475728 3479007 UTM WGS84 94 MAIN MARGARITA
HVM12-07 475661 3479095 UTM WGS84 92 NORTH MARGARITA
HVM12-08 475678 3479224 UTM WGS84 92 NORTH HILL
HVM12-09 475711 3479239 UTM WGS84 96 NORTH HILL
HVM12-10 475724 3479221 UTM WGS84 80 NORTH HILL
HVM12-11 475780 3479412 UTM WGS84 81 CASCABEL
HVM12-12 475762 3479414 UTM WGS84 62 CASCABEL
Table 2
Hole ID From (ft) To (ft) Length (ft) Length (m) Au (g/Mt) Au oz/t
HVM12-01 0 7 7 2.1 No recovery
HVM12-01 10 35 25 7.6 0.75 .022
Including 15 20 5 1.5 1.27 .037
HVM12-01 50 55 5 1.5 0.34 .010
HVM12-01 70 75 5 1.5 0.79 .023
HVM12-02 20 25 5 1.5 0.66 .019
HVM12-03 5 10 5 1.5 3.33 .097
HVM12-03 10 16 6 1.8 Stope
HVM12-03 20 40 20 6.0 1.04 .030
Including 20 25 5 1.5 1.75 .051
Including 35 40 5 1.5 1.03 .030
HVM12-03 45 50 5 1.5 4.82 .141
HVM12-04 0 20 20 6.0 0.71 .021
Including 5 10 5 1.5 1.26 .037
HVM12-04 45 50 5 1.5 1.51 .044
HVM12-04 26 32 6 Stope
HVM12-04 65 75 10 3.0 0.93 0.27
Including 70 75 5 1.5 1.37 .040
HVM12-05 0 5 5 1.5 0.45 0.013
HVM12-06 20 40 20 6.0 2.99 .087
Including 25 30 5 1.5 4.48 .131
Including 30 35 5 1.5 6.19 .181
HVM12-07 0 20 20 6.0 1.12 .032
Including 15 20 5 1.5 3.26 .095
HVM12-07 65 70 5 1.5 0.38 .011
HVM12-08 0 5 5 1.5 1.37 .040
HVM12-08 20 40 20 6.0 3.97 .115
Including 20 25 5 1.5 3.19 .093
Including 25 30 5 1.5 10.50 .306
Including 30 35 5 1.5 1.27 .037
HVM12-09 20 25 5 1.5 0.58 .017
HVM12-09 42 63 21 6.4 1.47 .043
Including 42 45 3 .9 3.00 .088
Including 55 60 5 1.5 1.75 .051
Including 60 63 3 .9 3.22 .094
HVM12-10 5 10 5 1.5 0.96 .028
HVM12-10 20 30 10 3.0 0.52 .015
HVM12-11 5 10 5 1.5 0.34 .010
HVM12-12 No reportable intercepts

Holes #01, #03, #04, #05 and #06 were drilled in the Main Margarita Zone. Each of these with the exception of Hole # 05 gave results of a minimum of 20 feet of surface or near surface continuous mineralization with averaged values ranging from 0 .75 g/Mt (.022 oz/t) to 2.99 g/Mt (.087 oz/t). Hole #01 ended in mineralization at a depth of seventy-five feet. Pulps from Hole #05 will be rerun as an additional check.

Holes # 02 and #07 were drilled in the North Margarita Zone. Hole #07 gave results of 1.12 g/Mt (.032 oz/t) over a 20-foot length from surface.

Holes #08, #09 and #010 were in the North Hill Zone. Hole #08 returned the highest value of 10.5 g/Mt (.306 oz/t). Holes #08 and #09 had 20 and 21 feet respectively of continuous mineralized intervals near surface.

Holes #11 and #12 were drilled in the Cascabel Zone. The results from this zone were disappointing with only limited siliceous material in core encountered in Hole #11 and none in Hole #12. Historic holes drilled in this area showed far greater values according to data provided by earlier exploration companies. The coordinate systems used historically were not standardized, and as such, exact locations of the previously drilled northern zone holes could not be established. Hellix will be utilizing these current assay results in an attempt to pinpoint these holes.

It appears that the intensity of the mineralization is indicative of higher grade values being associated with the flat fault zones separating the volcanics from the underlying quartz monzonite porphyry intrusive. The better values are associated with generally higher original sulfide concentrations (2-4% pyrite) that have been oxidized.

The Company has also submitted eighteen separate samples from the core to be assayed for specific gravity values to determine the tonnage factor of the rock material.

Hellix intends to file a drill permit application for a minimum of 20 additional holes after analyzing and plotting these results. The main focus will be drilling on the Main Margarita to properly establish boundaries for the surface and near surface anomalous zones. Additional holes will be drilled in the northern zones, particularly in the area of Hole #08 where the highest grade sample was reported.

CORE SAMPLING AND ASSAY PROCEDURES

Core samples were collected, selected, handled and delivered to Skyline Laboratories in Tucson, Arizona by an independent Registered Geologist in charge of the QA/QC program on this project. Sample procedures were followed that meet the requirements for NI 43-101 reporting. Standards and blanks were inserted at prescribed intervals in each hole as well as a second resample of one reject material interval from each hole. Standards were provided from a reputable independent geochemical contractor. This was in addition to the Skyline labs independent internal standards for QA/QC procedures.

Skyline Laboratories is an accredited lab (ISO-TECH 17025-2005). Each sample was crushed to plus 75% -10 mesh, split (200-300gms) and pulverized with hardened steel to plus 95% -150 mesh. A 30gm sample was selected from the pulverized material and prepared for assay. Samples were fire assayed for gold with gravimetric finish with detection limits from 0.03 g/Mt to 1000 g/Mt.

The technical portion of this release has been reviewed by Qualified Person Laurence Sookochoff, P. Eng.

HELLIX VENTURES (TSX VENTURE:HEL) is engaged in the identification, acquisition, exploration and development of gold and silver properties in North America. Hellix has no debt (other than short-term trade payables), and has positive cash flow from fossil fuel production in Western Canada. All transactions stated or referred to herein are expressly subject to TSX Venture Exchange approval as well as all other applicable regulatory body approvals.

ON BEHALF OF THE BOARD OF DIRECTORS

HELLIX VENTURES INC.

Frank Underhill, President

The forgoing is for informational purposes only, and is not to be construed as an offer to buy or sell securities in any jurisdiction. It may contain forward-looking statements. While the data compiled by management is from sources deemed to be reliable, actual future results may vary materially. Hellix Ventures Inc. does not assume the obligation to update any forward-looking statement and will not be responsible for any loss arising from the use of this information. Historically reported results may not be NI 43-101 compliant and therefore caution should be used in relying on such statements.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Contact Information