Helio and Damara Merge Namibian Interests into Osino Resources Corp.

TUESDAY, MAY 31, 2016

HELIO AND DAMARA MERGE NAMIBIAN INTERESTS INTO OSINO RESOURCES CORP.

Helio Resource Corp (TSX-V: HRC), (“Helio” or the “Company”) is pleased to report that the transaction previously announced on February 18, 2016, whereby Helio, Damara Gold Corp (TSX-V: DMR) and Osino Resources Corp. (a private corporation) agreed to merge their respective interests in Namibia, has been completed.

Helio‘s Namibian interests comprise two exploration licences, namely EPL 3738 (Wilhelmstal) and EPL 3739 (Otjimbojo), which together are referred to as the Damara Gold Project (“DGP”). Helio and Damara have agreed to rescind their earn-in agreement (see news release dated March 27, 2014), and have transferred their respective interests in the DGP to Osino. In a separate arm’s length transaction Helio assigned a portion of its interest in Osino to a third party in consideration of $456,000.

Richard Williams, CEO, stated; “We are pleased to have partnered with Osino to advance the Damara Gold Project. Given Osino management’s past track record, developing and selling the Otjikoto gold mine to B2Gold Corp., we are confident the project is in good hands. This agreement allows Helio to continue to focus on the development of the SMP Gold Project in Tanzania.”

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 outlining the resource potential at the DGP Gold Project in Namibia.

For additional information please contact Richard Williams at 604 638 8005.

ON BEHALF OF THE BOARD OF DIRECTORS

“Richard D. Williams”
Richard D. Williams, P.Geo
“Chris MacKenzie”
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.
You can also view this News Release on our website at:
http://www.helioresource.com/s/NewsReleases.asp?ReportID=750772

Helio Home | Contact Us | Investors | Corporate© 2005-2010 Helio Resource Corp. All Rights Reserved.
Legal Disclaimer

Proven & Probable

Maurice Jackson

All Rights Reserved.

The Information presented in Proven and Probable is provided for education and informational purposes only, without any express or implied warranty of any kind, including warranties of accuracy, completeness, or fitness for any particular purpose. The Information contained in or provided from or through this forum is not intended to be and does not constitute financial advice, investment advice, trading advice or any other advice. The Information on this forum and provided from or through this forum is general in nature and is not specific to you the User or anyone else. YOU SHOULD NOT MAKE ANY DECISION, FINANCIAL, INVESTMENTS, TRADING OR OTHERWISE, BASED ON ANY OF THE INFORMATION PRESENTED ON THIS FORUM WITHOUT UNDERTAKING INDEPENDENT DUE DILIGENCE AND CONSULTATION WITH A PROFESSIONAL BROKER OR COMPETENT FINANCIAL ADVISOR. You understand that you are using any and all Information available on or through this forum AT YOUR OWN RISK.”

Be the first to comment on "Helio and Damara Merge Namibian Interests into Osino Resources Corp."

Leave a comment

Your email address will not be published.


*