Helio Resource Corp.
TSX VENTURE : HRC

Helio Resource Corp.

May 03, 2007 12:44 ET

Helio Retains Contact Financial to Provide Investor Relations Services

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - May 3, 2007) - Helio Resource Corp. ("Helio" or the "Company") (TSX VENTURE:HRC) is pleased to announce that it has retained Contact Financial Corporation to provide investor relations services for the Company.

Helio will pay Contact a monthly fee of C$8,000 per month and issue 200,000 incentive stock options to Contact. The stock options are priced at $0.85 per share and will vest over a 12 month period as per regulatory guidelines. In compliance with the requirements of Policy 4.4 of the TSX Venture Exchange, the stock options vest in four equal quarterly stages. Additionally, any shares acquired upon exercise of the stock options are prohibited from resale for a four-month period.

Helio Resource Corp., based in Windhoek, Namibia, is one of Southern Africa's leading exploration companies, specializing in project generation. Helio is actively exploring 18 prospective gold, base-metal and diamond properties in Namibia, Botswana, Mozambique and Tanzania, and is focusing on progressing the SMP Gold project in Tanzania. As part of its strategic approach to project development, Helio has worked in partnership with firms such as Teck Cominco, Boulder Mining, Indicator Minerals, and Yale Resources to advance a number of its projects.

ON BEHALF OF THE BOARD OF DIRECTORS

Richard D. Williams, P.Geo, CEO

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.

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