Vancouver, March 13, 2015
Helio Resource Corp. (TSX-V: HRC), (“Helio” or the “Company”) reports that as a result of a review by the British Columbia Securities Commission, it is issuing the following news release to clarify certain prior disclosure:
Slide 16 of the Company’s prior corporate presentation outlined the potential for a 50,000 to 60,000 ounce per year production scenario at the SMP Gold project in Tanzania. The Company confirms that this scenario is not currently supported by a National Instrument 43-101 (“NI 43-101”) compliant technical report and should not be relied upon at this time. The corporate presentation also refers to an adjacent property, which has an operating gold mine located upon it. The Company confirms that there is no guarantee that it will generate similar results from its own properties and the corporate presentation has been amended to include the required cautionary language.
The Company’s corporate presentation, factsheet and MD&A’s failed to disclose the relationship of the Qualified Person who prepared, supervised the preparation of, or approved of the technical information disclosed. The Qualified Person is Chris MacKenzie, M.Sc., C.Geol., Helio’s COO and a Qualified Person as designated by NI 43-101. Going forward all relevant corporate literature will be amended in this regard.
About Helio Resource Corp.
Helio Resource Corp. is a resource company focused on advancing the 100% owned SMP Gold Project in Tanzania to a production decision, and on outlining the resource potential at the DGP Gold Project in Namibia.
For additional information, please contact Richard Williams or Irene Dorsman at +1 604 638 8007 or by e-mail to firstname.lastname@example.org or email@example.com
|“Richard D. Williams”
Richard D. Williams, P.Geo
Christopher J. MacKenzie, C.Geol.
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.
Statements Regarding Forward-Looking Information
Certain statements contained in this news release may contain forward-looking information within the meaning of Canadian securities laws. Such forward-looking information is identified by words such as “estimates”, “intends”, “expects”, “believes”, “may”, “will”, “probable”, “potential”, “indicated”, “inferred” and include, without limitation, statements regarding the company’s plan of business operations (including plans for progressing assets), estimates regarding mineral resources, projections regarding mineralization and projected expenditures, and the security of future tenure of licenses to explore, develop and mine. There can be no assurance that such statements will prove to be accurate; actual results and future events could differ materially from such statements. Factors that could cause actual results to differ materially include, among others, metal prices, risks inherent in the mining industry, financing risks, labour risks, uncertainty of mineral resource estimates, equipment and supply risks, title disputes, regulatory risks and environmental concerns. Most of these factors are outside the direct control of the company. Investors are cautioned not to put undue reliance on forward-looking information. Except as otherwise required by applicable securities statutes or regulation, the company expressly disclaims any intent or obligation to update publicly forward-looking information, whether as a result of new information, future events or otherwise.