Hellix Announces Preliminary Geological Analysis on Margarita

HELLIX VENTURES INC. (TSX VENTURE:HEL)(PINK SHEETS:HLLXF) - Frank Underhill,
President, announces a preliminary geological analysis from our Margarita
property field geologist.


Geologist J. Duncan was contracted to construct a detailed outcrop geologic map
of the Margarita's four main prospective zones and extend north to the Blue Wing
Zone. The approximate area covered is 2000 feet N-S by 800 feet E-W. This
information will provide a basis for interpreting existing drill data, which
until this time has not included any geology. It will also serve as a foundation
for our own ongoing exploration and development efforts.


Geologic field observation of the area has revealed two readily distinguishable
rock units. The first is generally strongly quartz-veined and silicious;
variably limonitic, with common evidence of oxidized sulfides. Color varies from
light gray to dark gray to reddish. Texture fluctuates from very fine grained to
obviously crystalline. Historically, this rock has been host to the gold
mineralization reported by the USBM and others, but was identified as a
silicified and mineralized volcanic tuff.


According to Mr. Duncan, the rock seems to be more like an intrusive than a
tuff. It is very silica rich and resistant to erosion, and forms bold outcrops
capping many of the topographic high points on the property. Where it forms the
Margarita main prospective zones, it is a tabular body that dips gently
northwestward and is exposed mainly on the tops and northwestern flanks of the
north-trending string of small hills. The once continuous body has been broken
by minor faulting and/or erosion into the separate bodies identified as the Main
Margarita, North Margarita, North Hill and Cascabel.


The second rock unit in the area is an intrusive rock distinguished by abundant
(approximately 30% of rock volume) blocky white feldspar and subordinate smaller
hornblende in a very fine-grained gray groundmass. This unit is generally
unaltered and not mineralized to the eye. Based on the geologist's preliminary
observations and our analysis of prior drill data, this second unit gray
feldspar porphyry is not a host to gold mineralization.


The earlier interpretation that mineralization is hosted by a volcanic tuff had
led to suggestions that the tuff unit must have been mineralized by high-angle
"feeder" veins cut up through the underlying feldspar porphyry. Our current
geological program has found no evidence of this. The detailed geochemical
sampling program initiated by Hellix should confirm (or disconfirm) our current
interpretation.


Mr. Duncan states, "The obvious target is the host rock itself, whether it is a
tuff or an intrusion. I am optimistic that these efforts will lead to new
targets on the property."


In short, Mr. Duncan's assessment is that the mineralization is found in
silicified dikes occupying the tops or near the tops of hills. It is unknown at
this time if there is only one dike that is widespread over the region, if there
is a series of dikes, or if there are additional layers of dikes below the
current known zones. Hellix will gain more knowledge in this area after
structural mapping and our planned upcoming drill program.


A localized field map of the area detailed above will be available for viewing
on our website www.hellixventures.com as soon as it is received by the Company.
Results of the geochemical sampling of the area will be announced shortly.


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.