September 21, 2009
Hellix Options British Columbia Gold Property/Private Placement
HELLIX VENTURES INC. - HEL:TSX.V/HLLXF:OTC - Vancouver, BC- Frank Underhill, President, announces that its wholly owned subsidiary 0814636 B.C. Ltd., has signed an option to purchase 100% of the Athabasca Claim Group in the Nelson Mining District of British Columbia, Canada.
The group covers ten reverted Crown granted claims and five located claims which include the Athabasca Mine. Historical records show the Athabasca producing over 20,000 ounces of gold from approximately 22,000 tons milled during the late 1800’s and early 1900’s. The property has never been drilled.
The claims are located about three kilometers from Nelson, B.C., with access via a well-maintained forestry road and an upgraded mine access road. Current mineral exploration projects situated nearby include the “Kenville Gold Mine” property of Anglo Swiss Resources Inc., and the “Kena” property of Sultan Minerals Inc. Anglo Swiss has recently announced underground chip sampling results with values as high as 2,283.27 grams per tonne gold. The Athabasca is approximately 10 kilometers (6 miles) from the Anglo Swiss property.
The Company has negotiated a very fair agreement. Particulars include a total of $50,000 cash, payable in Canadian funds. An initial payment of $5,000 is due upon registration of the agreement; $10,000 on the first anniversary; $15,000 on the second; and the final $20,000 on the third anniversary. After making the final payment, Hellix Ventures Inc. (through its subsidiary) will own 100% of the claim group, but will be subject to a 3.0% Net Smelter Returns royalty. The Company may buyback the royalty at any time by paying the Optionor $150,000 in cash. There is a finders’ fee payable on this acquisition.
Additional information concerning the property and the Company’s exploration and development plans will be issued shortly following ongoing due diligence.
The Company also announces a private placement of one million common shares at $.65 per share. Attached to each share is one non-transferable purchase warrant. Each two warrants entitle the holder to purchase one common share at a price of $.70 for a period of six months after closing.
HELLIX VENTURES (HEL – TSX.V) is engaged in the identification, acquisition, exploration and development of gold and silver properties in North America. 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.
ON BEHALF OF THE BOARD OF DIRECTORS
HELLIX VENTURES INC.
HELLIX VENTURES INC.
Toll Free: 1-877-430-3113 Phone: (604) 683-6657 Fax: (604) 684-4407
Neither 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. The forgoing is for informational purposes only, and is not to be construed as an offer to buy or sell securities in any jurisdiction. It may contain forward-looking statements. While the data compiled by management is from sources deemed to be reliable, actual future results may vary materially. Hellix Ventures Inc. does not assume the obligation to update any forward-looking statement and will not be responsible for any loss or damage arising from the use of this information.