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 Wed Nov 16, 2005
Drilling Commences at the Leicester Property

 Helio Resource Corp. (TSX-V: HRC) ("Helio" or the "Company") is pleased to announce that a 2,000m drill programme has commenced at the Leicester copper - silver - gold property in northwestern Namibia.

The reverse circulation (RC) drill programme will test outcropping copper mineralization at the Quest, G, E, and A targets (refer to News Releases dated September 27 and 28, 2005) and will also test strong IP geophysical anomalies located between Quest and G, and between E and A.

The targets are spread out along an 11km strike length of the Rehderstal Fault. A map showing the target areas and the IP geophysical anomalies can be viewed at http://www.helioresource.com/s/Namibia.asp?ReportID=95917. Trench sampling highlights from the main targets are summarized below:
  • 13.5m grading 1% Cu on Anomaly A
  • 10.6m grading 1.3% Cu on Anomaly E
  • 10.2m grading 1.54% Cu on Anomaly G
  • 14.0m grading 0.94% Cu at Quest
The Leicester property is subject to an earn-in agreement with Yale Resources Ltd., whereby Yale can earn a 51% interest in the property by spending $2,900,000 on exploration and issuing 850,000 common shares to the Company before April 20, 2009. Yale then has the option to earn a further 24% interest (for a 75% total interest) by issuing a further 1,000,000 common shares and delivering a bankable feasibility study to the Company within three years.

Chris MacKenzie, M.Sc., C.Geol., Helio's Executive Chairman and a Qualified Person as designated by NI 43-101, is responsible for supervising the drill programme and the associated quality control programmes.

Helio Resource Corporation, based in Windhoek Namibia, is one of Southern Africa's leading exploration companies and specializes in innovative new-project generation. Helio is actively developing 9 prospective gold, copper and diamond properties in Namibia and Botswana. As part of its strategic approach to project development Helio has forged partnerships with firms such as Teck Cominco, Indicator Minerals, Yale Resources, Boulder Mining and Springbok Resources to advance a number of its projects.

For additional information, please contact Richard Williams at (604) 668 8356 or by e-mail at richard@helioresource.com

ON BEHALF OF THE BOARD OF DIRECTORS,

"Richard D. Williams"

Richard D. Williams, P.Geo
President

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

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