February 5, 2008
HELLIX ANNOUNCES COMMENCEMENT OF WORK PROGRAM
HELLIX VENTURES INC. - HEL:TSX.V/HLLXF:OTC - Frank Underhill, reports that the final agreement with our contractor for Phase 1 of the 2008 Minitas field program has been negotiated. Work is to commence at the end of this week. The contractors have extensive field experience on the Minitas/Cobriza and surrounding properties, and are familiar with the mineralization and structures in the area.
The contract includes road building, slashing and expansion of the existing tunnel, drill crosscuts, a ramp, and a series of exploratory NQ drill holes.
At the present time, HELLIX has its Durango based geologist, Joachin Guerrero testing a new mineralized structure south of the La Luz tunnel, possibly adding a third vein parallel to the two known veins. If results from our recently located southern structure are favorable, regional exploratory drill holes may be added to our current work program.
The Company is attempting to establish a structural connection to Goldcorp’s Luismin Verdosa property which Goldcorp is continuing to drill extensively.
HELLIX has an excellent relationship established with the native Ejido (surface land owners) on the Minitas property, and has just signed a new contract for this year.
Geologist Guerrero had two select high grade samples recently assayed from the La Luz tunnel which is the subject of the upcoming drill program. These were taken approximately 120 meters from the entrance over a width of 1.6 meters. Local mineralization showed abundant galena, sulphosalts in quartz, and altered volcanics.
Assays ran 2,343 grams and 1,585 grams silver, and 4.93 grams and 1.79 grams gold respectively.
Progress reports on the work program will be forthcoming.
HELLIX VENTURES (HEL – TSX.V) is engaged in the identification, acquisition, exploration and development of gold and silver properties in Mexico. Hellix has no debt (other than short-term trade payables), and has positive cash flow from fossil fuel production in Western Canada. All transactions stated or referred to herein are expressly subject to TSX Venture Exchange approval as well as all other applicable regulatory body approvals.
This release has been reviewed by Qualified Person John Jenks, P. Geo.
ON BEHALF OF THE BOARD OF DIRECTORS
HELLIX VENTURES INC.
Frank Underhill
President
HELLIX VENTURES INC.
Email: info@hellixventures.com
Toll Free: 1-877-430-3113 Phone: (604) 683-6657 Fax: (604) 684-4407
The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.
