Helio Resource reports on AGM and SMP Gold Project PEA Update

TSX-V Trading Symbol: HRC
Toll Free: +1 888 955 4728
E-mail: info@helioresource.com
Website: www.helioresource.com

VANCOUVER, Sept. 5, 2012 /CNW/ - Helio Resource Corp (TSX-V: HRC) reports that it held its AGM on August 29, 2012 and all resolutions were approved unanimously (see the SEDAR filing of the Information Circular, dated July 31, 2012).

At the subsequent Board of Directors meeting the following resolutions were adopted:

  1. Grenville Thomas was re-appointed Chairman of the Board.
  2. The Audit Committee was appointed, comprising Cliff Davis (Chairman), Stephen Leahy, and Richard Williams.
  3. The Compensation Committee, comprising Cliff Davis, Colin Jones, Grenville Thomas, and Stephen Leahy, was appointed.

Richard Williams (CEO), Chris MacKenzie (COO), Andrew MacRitchie (CFO), and Stewart Lockwood (Corporate Secretary) were the appointed Officers for the Company.

SMP Gold Project - PEA Update

The Company expects to announce the outcome of a PEA (Preliminary Economic Assessment) on the SMP Gold Project, Tanzania before the middle of September. The study has been conducted by SRK Consulting (Australia) Pty. Ltd.

The PEA focuses solely on the Measured and Indicated resource at the Porcupine and Kenge targets (combined M&I resource is 1,020,000 ounces grading 1.32g/t Au at a 0.5g/t Au cut-off).

ON BEHALF OF THE BOARD OF DIRECTORS

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

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

 

SOURCE: Helio Resource Corp.

For further information:

For additional information, please contact Richard Williams or Irene Dorsman at +1 604 638 8007 or by e-mail to richard@helioresource.com or irene@helioresource.com.


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