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New Gold Zone Discovered on the SMP Gold Project, Tanzania

Tuesday, October 23rd, 2007

Helio Resource Corp is pleased to announce that reconnaissance reverse circulation (RC) drilling at the Company’s SMP Gold Project in Tanzania has confirmed the presence of bedrock gold mineralization between the colonial-era Saza 2 Shaft gold mine (Cheche target) and the Snakebite target, indicating the potential for mineralisation over a 2,300m strike length.
Two north-south fences of RC holes, 300m apart, were drilled across the ENE-trending Saza Shear Zone. Both the western and eastern fences intersected multiple zones of mineralization, the most notable being 20m grading 1.14g/t gold from 30m depth in hole SZR34 located on the western fence (Cheche E), and 2m grading 4.36g/t gold from 36m depth in hole SZR43 on the eastern fence (Snakebite W).
The Company is very encouraged by the new results, which are similar to the initial drill results received from the Kenge target (see Company news release dated September 6, 2006 and subsequent releases dated May 23, 2007, September 17, 2007, and October 15, 2007), which now shows the potential to host a significant open pit resource.
The Cheche target contains the old Saza 2 shaft mine. The Snakebite target, located over 2km away on-strike from Cheche, has been drill tested by Helio confirming the presence of mineralisation over 450m+ of strike length (open in both directions), with intercepts including 8m grading 20.8g/t Au, 2.39m grading 9.6g/t Au and 1.74m grading 16.0g/t Au (see Company press release dated September 17, 2007).
These are the first results from a reconnaissance RC drill programme that has tested ten different targets along a 25km strike length of the Saza Shear Zone.
For further information visit: www.helioresource.com

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