June 4, 2007

HELLIX SIGNS AGREEMENT ON HISTORIC SPANISH MINE/PRIVATE PLACEMENT INCREASED

HELLIX VENTURES INC. (HEL-TSX.V) The Company is pleased to announce the signing of an Option Agreement on the Minitas Concession Group, which includes the La Cobriza Mine, located in the San Dimas District, Durango State, Mexico.

The San Dimas District is located in the central portion of the Sierra Madre Occidental volcanic pile. Within this District, mineralization is contained in over 120 gold-silver vein structures which range in thickness from less than one centimetre to over 15 metres, with an average of 2.0 metres. Strike lengths of the epithermal "favorable zones" may exceed two kilometres with dip lengths in the order of 300 metres.

The most well-known project in the immediate area is Goldcorp's Luismin. Luismin presently processes 2,100 TPD of silver/gold ore averaging 6.3 grams per tonne gold and 328 grams per tonne silver.

Professional Engineer Jesus Chairez Blanco of Servicio Geologico Mexicano was engaged to visit and write a report on the Minitas Concessions in 2006 by the current property owner. This report was not written under the definition of National Instrument 43-101. The following select sample assays from his report are from the La Leona tunnel (elevation 1,096.7 m), and represent the western extension of the La Cobriza vein. Distances are in metres west of La Leona Tunnel entrance.

HELLIX Director John Jenks, P. Geo. visited the property on several occasions. Sample assay results are as follows:

6TY-1 A composite grab sample from an old Spanish dump (La Cobreza) with silicified andesite and minor crysacolla
6TY-2 Select "high-grade" material from stockpile from La Cobreza/Minitas tunnel - brecciated, altered andesite; silicified with minor pyrite, sphalerite, galena, and sulphosalts

Particulars of the Agreement are as follows:

HELLIX is intended to be the operator of the project.

The Company must spend a minimum of US$175,000 on a Work Program in year one of the option agreement, US$375,000 in year two, with escalating Work Program expenditures. The total amount to be spent by the end of year five is US$2,225,000.

Cash consideration - US$15,000 cash upon signing the Letter of Intent (paid) US$25,000 payable upon the Parties entering into a definitive agreement (paid), with escalating Option cash payments over the next 5 years for a total of US$800,000 cash.
Common Shares consideration - No shares shall be issuable immediately. After year one, $50,000 worth of common shares of the Company are proposed to be issued to maintain the Option, with an escalating dollar value to be issued every year for an additional four years, for a total of $750,000 worth of shares. Prices of issued shares shall be the then current Market Price. A 12 month hold period shall apply to the aforementioned shares, as well as any other restrictions or conditions to comply with TSX policies and applicable securities regulations (such as price "floor" restrictions setting the minimum price at which such shares may be issued).

During the period of the Option the Company may buy 100% interest for US$3,000,000 in the first 48 months and US$6,000,000 thereafter.

There is an NSR of 3% with buyback provisions until a certain period after full commercial production. Contingent payments in the event of the acceptance by the Parties of a bona fide arms length cash offer for property interests under the agreement are also contemplated, but no value or definite terms can be currently ascribed to these because of their contingent nature. Similarly, additional acquisitions are also referred to but none have reached the agreement in principal stage.

The arms length Vendor of the Properties or Associates may become employees or consultants to, or join management of the Company or it���s Mexican subsidiary. As such, they may receive Options on Company Shares under the Company's Stock Option Plan.

No finders fee agreement has been entered into by either party, however an introduction fee may be payable in the future based on legal advisement. Such amount is undetermined and would be subject to prior approval by the TSX.

HELLIX is looking toward the next few months and years with great anticipation. We have hired two professional geologists to be based in our newly opened office in Durango, Mexico. This is necessary to facilitate the Minitas operations, and to review other prospects that have come to our attention in this highly prolific area of Durango State.
The previously announced non-brokered private placement for $600,000 @ $0.35 per unit has been increased to a maximum of $700,000, subject to all approvals including the TSX Venture Exchange. Each unit will consist of one (1) common share and one (1) non-transferable common share purchase warrant exercisable at $0.40 for a period of 12 months after closing. Two (2) warrants will be required for one (1) common share at the exercise price. This issuance will comply with hold periods and legending requirements as required by TSX Venture Exchange Policies.
Proceeds will be used for the Minitas work program and general working capital.

There is a proposal to set 1,092,746 additional options at $0.40 under a new stock option plan approved by shareholders at the last AGM. The revised option plan is subject to approval by the TSX. All shares are subject to vesting over 18 months. Some options are restricted from exercise until shareholder's approval at the next AGM.

HELLIX VENTURES (HEL:TSX.V) is engaged in the identification, acquisition, exploration and development of gold and silver properties in Mexico. 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.

This release has been reviewed by Qualified Person John Jenks, P. Geo.

The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.