|Fri Jan 5, 2007|
Share Issuances Approved
|Helio Resource Corp. ("Helio" or the "Company") (TSX-V: HRC) is pleased to report that it has received approval from the TSX Venture Exchange for the issuance of Helio shares in connection with certain business transactions in Tanzania and Mozambique.|
The Company will issue 150,000 shares in connection with the option agreement with Dhahabu Resources and Mining Co. Ltd, concerning the three exploration licences (~150km2) of the Makongolosi Gold Project, which are located immediately adjacent to the Company's Saza gold project, Tanzania (see Company news release dated September 11, 2006). The Company is currently conducting property wide soil sampling, as well as IP geophysics over selected areas. The shares are subject to a four month hold period.
The Company will also issue 50,000 shares as a Finders Fee to Mr. P. Siegfried, a geological consultant, for his role in the introduction of the Company to, and subsequent acquisition of, the Balama Reconnaissance Licence in Mozambique. The Balama project, located in northern Mozambique, is prospective for base metals. The shares are subject to a four month hold period.
Helio Resource Corp., based in Windhoek, Namibia, is one of Southern Africa's leading exploration companies, specializing in project generation. Helio is actively exploring 18 prospective gold, base-metal and diamond properties in Namibia, Botswana, Mozambique and Tanzania. As part of its strategic approach to project development, Helio has worked in partnership with firms such as Teck Cominco, Boulder Mining, Indicator Minerals, and Yale Resources to advance a number of its projects.
For additional information, please contact Richard Williams or Irene Dorsman at (604) 668 8363 or by e-mail to firstname.lastname@example.org or email@example.com.
ON BEHALF OF THE BOARD OF DIRECTORS
"Richard D. Williams"
Richard D. Williams, P.Geo
Christopher J. MacKenzie, C.Geol.
The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.
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