Helio Resource Files PEA for SMP Gold Project with SEDAR

Helio Resource (TSXV:HRC) has filed with SEDAR the independent NI 43-101 compliant Preliminary Economic Assessment report for the SMP Gold Project in Tanzania, following its news release dated September 13, 2012.

As quoted in the press release:

The PEA was authored by SRK Consulting (Australia) Pty. Ltd. and was conducted on Measured and Indicated Resources only, with production envisaged from the Porcupine, Kenge and Mbenge targets.

It is also important to note that the PEA evaluates only 3 of the 30 targets within the SMP Gold Project area (Porcupine, Kenge, and Mbenge).

Helio Resource COO Chris MacKenzie said:

We are very pleased with the outcome of the PEA which demonstrates the potential economic viability of the current resource. We will use this as the basis for advancing the project through pre-feasibility. The Upside Case requires confirmation that the enclosing rock can support a 55 degree pit wall. Given that the country rock is competent massive granite we believe this is eminently possible. In addition to the study, we have identified seven areas of high-grade gold mineralisation that are not included in the resource base – these will be the focus for ongoing exploration, with the objective of adding higher-grade ounces to the resource base.

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