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 Mon Mar 2, 2009
Helio Intersects Widest Zones of Mineralisation to date from the Porcupine Target, SMP Gold Project, Tanzania

 
ALL RESULTS FROM 2008 DIAMOND DRILL PROGRAMME AT PORCUPINE NOW RECEIVED

61.0m @ 0.9g/t Au
56.0m @ 1.1g/t Au (incl. 35.0m @ 1.6g/t Au)
53.0m @ 0.8g/t Au
49.0m @ 0.9g/t Au
47.0m @ 0.9g/t Au
40.0m @ 1.8g/t Au
38.0m @ 1.2g/t Au
25.0m @ 1.1g/t Au
24.0m @ 1.1g/t Au

Porcupine Target Drilling Update

Helio Resource Corp. ("Helio" or the "Company") (TSX-V: HRC) is pleased to report the final drill results from the 2008 diamond drilling programme at the Porcupine Target at the SMP Gold Project, Lupa Goldfields, SW Tanzania. The results come from ten diamond drill holes (GPD 32 - GPD 41).

The results confirm management's view that Porcupine has the potential to host a significant open-pittable gold resource, in addition to the potential significant gold resource the company is testing at the Kenge Target (Company Press Release dated January 15, 2009).

Highlights

  • All ten drill holes intersected significant gold mineralisation.

  • Eight of the ten drill holes intersected mineralisation over widths in excess of 35m.

  • GPD 39 intersected 61m grading 0.9g/t Au, the widest zone of gold mineralisation intersected to date anywhere on the SMP Gold Project.

  • GPD 37 (49m grading 0.9g/t Au) is the deepest drill intercept at Porcupine to date, and confirms that wide zones of mineralisation continue to over 260m down-dip.

  • Mineralisation is still open to depth and along strike.

  • GPD 38 (52m grading 0.3g/t Au) was drilled 350m west of GPD 41 (the westernmost drill hole on the long section below), demonstrating that the wide zones of gold mineralisation extend over a strike length of at least 700m.
A table of the results from all 41 diamond drill holes completed at the Porcupine Target is presented below, together with an updated long section of the Porcupine Target.

Management is very pleased with these results, which confirm that the SMP Gold Project has the potential to host areas of very wide open-pittable mineralisation.

The Company plans to restart drilling at Porcupine in May, once the rainy season is over. The next phase of drilling is planned to test the east and west strike extensions of the Porcupine Target, especially to the east towards the historic Gap Mine, located 1.8km to the NE of current drilling coverage. Geophysical data between Porcupine and Gap and suggests that the mineralisation could be continuous over the entire 1.8km distance.

ABOUT THE SMP GOLD PROJECT

Helio, through its 100% owned subsidiary BAFEX Tanzania Ltd., can earn a 100% interest in five contiguous licences, which cover a 34km strike length of the Saza Shear Zone. The project covers the New Saza Gold Mine, which operated between 1939 -- 1956, producing approximately 270,000 ounces of gold at an average grade of 7.5g/t Au.

Since June 2006, the Company has drill-tested eleven targets, nine of which are hosted by the Saza Shear Zone. All eleven targets have intersected bedrock-hosted gold mineralisation, the most advanced being the Kenge Target, which has returned up to 22.0m grading 6.9g/t gold in the Main Zone (Company press release dated May 23, 2007). The thickest mineralised intercept at Kenge is from the Mbenge Zone (48.7m @ 2.1g/t Au - Company press release dated September 8, 2008). The best mineralised intercept to date at the SMP was drilled at the Porcupine target (52.2m grading 3.3g/t Au -- Company press release dated July 21, 2008). A plan map of the project area, showing the respective locations of all of the targets generated to date is attached.

Chris MacKenzie, M.Sc., C.Geol., Helio's COO and a Qualified Person as designated by NI 43-101, supervises the exploration at the SMP project, including the sampling and quality assurance / quality control programmes, and has reviewed the contents of this news release. Unless otherwise stated all drill holes were oriented at -48º or -60º and were drilled perpendicular towards the main structural trend. Intercepts are reported as drilled widths, and estimated true widths vary from 75-98%+ of drilled width. Core was halved with a rock saw and 1m sample lengths were submitted to the lab (with the duplicate half being retained). QA/QC includes the use of blanks and standards (ave. 1 every 15 samples) and duplicates (ave. 1 every 24 samples). Samples were assayed at the SGS Laboratory in Mwanza, Tanzania by 50g gold fire assay. As well as the Company's internal QA/QC programme, SGS also applied their own internal QA/QC programme, consisting of insertion of standards and duplicates. Unless otherwise stated weighted average intercepts are calculated between the uppermost and lowermost samples within the main mineralised zone using a 0.5g/t cut-off and may include some internal waste.

Helio's main focus is the development of the SMP Gold Project in Tanzania. As part of its strategic approach to project development, Helio has optioned 9 of its Namibian licences to Desert Minerals (UK) Ltd. and continues to pursue joint venture partners for its other projects in Namibia.

For additional information, please contact Richard Williams at +1 604 638 8005 or by e-mail to .

ON BEHALF OF THE BOARD OF DIRECTORS

"Richard D. Williams"
Richard D. Williams, P.Geo
CEO
"Chris MacKenzie"
Christopher J. MacKenzie, C.Geol.
COO

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


Table of All Drill Intercepts - Porcupine Target
(new results shown in Bold)

Hole No. Intersection
GPD001 42.3m @ 4.0g/t Au from 16.6m
GPD002 49.8m @2.0g/t Au from 23.1m
GPD003 49.1m @ 0.7g/t Au from 8.2m
GPD004 49.6m @ 3.3g/t Au from 52.8m
GPD005 52.2m @ 3.3g/t Au from 15.8m
GPD006* and 5.7m @ 0.5g/t Au from 44.1m
GPD007* 11.3m @ 0.4g/t Au from 48.3m
GPD008 7.6m @ 1.6g/t Au from 5.1m (Open)
GPD009* 43.4m @ 0.5g/t Au from 32.4m
GPD010 40.1m @ 2.2g/t Au from 62.8m
GPD011 2.4m @ 1.0g/t Au from 193.8m
GPD012 30.0m @ 0.9g/t Au from 3.0m (Open)
GPD013 2.6m @ 0.7g/t Au from 113.1m
GPD014 8.7m @ 0.9g/t Au from 166.2m
GPD015 51.7m @ 2.1g/t Au from 142.1m
GPD016 35.5m @ 2.3g/t Au from 165.1m
GPD017 54.2m @ 1.0g/t Au from 198.8m
GPD018 39.7m @ 2.3g/t Au from 130.3m
GPD019 44.3m @ 1.8g/t Au from 140.6m
GPD020 39.7m @ 1.9g/t Au from 67.7m
GPD021 44.1m @ 2.1g/t Au from 77.0m (open)
GPD022 10.0m @ 1.0g/t Au from 109.0m (open)
GPD023 27.5m @ 1.0g/t Au from 145.7m (open)
GPD024 2.7m @ 1.3g/t Au from 109.8m
GPD025* 6.6m @ 0.2g/t Au from 130.2m
GPD026 31.7m @ 1.2g/t Au from 155.1m
GPD027 1.0m @ 1.8g/t Au from 163.4m
GPD028 15.8m @ 0.84g/t Au from 170.8m
GPD029 16.8m @ 1.0g/t Au from 52.9m (open)
GPD030 37m @ 1.6g/t Au from 104.0m
GPD031 46m @ 2.1g/t Au from 115.0m
GPD032 1m @ 14.7g/t Au from 48.0m
GPD032 and 53.0m @ 0.8g/t Au from 82.0m
GPD033 9.0m @ 1.1g/t Au from 52.0m
GPD033 and 47.0m @ 0.9g/t Au from 98.0m
GPD034 38.0m @ 1.2g/t Au from 173.0m
GPD035 40.0m @ 1.8g/t Au from 143.0m
GPD036 56.0m @ 1.1g/t Au from 153.0m
GPD036 incl. 35.0m @ 1.6g/t Au from 153.0m
GPD037 49.0m @ 0.9g/t Au from 229.0m
GPD037 incl. 21.0m @ 1.0g/t Au from 229.0m
GPD037 and incl. 17.0m @ 1.3g/t Au from 261.0m
GPD038* 52.0m @ 0.3g/t Au from 16.0m
GPD039 61.0m @ 0.9g/t Au from 129.0m
GPD040 4.0m @ 2.5g/t Au from 94.0m
GPD040 and 24.0m @ 1.1g/t Au from 112.0m
GPD040 and 6.0m @ 0.8g/t Au from 150.0m
GPD041 25.0m @ 1.1g/t Au from 116.0m
* Not 0.5g/t cut-off





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