Helio Provides Tanzania Update

About this update from Winshear Metals Corp.

[{"type":"text","content":"\n\n\n\nHelio Provides Tanzania Update\n\n/* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n.prntac{\nTEXT-ALIGN: CENTER\n}\n\n\n\n\n\n\n\nCanada NewsWire\nVANCOUVER, July 27, 2018\n\n\n\nTSX-V Trading Symbol: HRC\n\n\n\nVANCOUVER, July 27, 2018 /CNW/ - Helio Resource Corp. (\"Helio\" or the \"Company\"; TSX-V: HRC) hereby provides an update of the SMP Gold Project located in Tanzania.\n\nHelio's SMP project comprises 8 Prospecting Licenses (PLs), 4 Retention Licences (RLs), and one licence under application (see map below). The four Retention Licences are RL 0009 (Saza), RL 0010 (Gap), RL 0011 (Kwaheri), and RL 0012 (Illunga). Under the Tanzanian Mining Act, 2010, Retention Licences were issued to projects at which a mineral resource had been identified, but the projects could not be developed to mine status by reason of technical constraints, or other economic factors which are temporary in nature.  \n\nChanges to the Mining Act 2010 were announced by the Tanzanian government in June 2017, and have resulted in the Retention Licence classification being abolished and ownership transferred to the government. The Company has been assured verbally by government officials that the Tanzanian government will not expropriate the ground covered by the Retention Licences and wants to work with the Retention Licence holders to ensure that projects are advanced to the point where a mining licence can be applied for.  \n\nThe Tanzanian government has formed a Mining Commission which will make recommendations for the way forward with regards to the ground covered by Retention Licences. After consultation with ministers from the Ministry of Minerals, Helio has applied for the ground covered by the Retention Licences to be re-issued as Prospecting licences to allow the project to be advanced.  However, the Commission has yet to make any recommendations or any commitment as to a date by which its recommendations will be made.\n\nAbout the SMP Gold Project\n\nThe SMP Gold Project covers a 200km2 area in the Lupa Goldfields, SW Tanzania and is adjacent to the New Luika Gold Mine, operated ...

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