IFC intends to become a major shareholder of Helio

Investment of up to $7.8 Million

TSX-V Trading Symbol: HRC

VANCOUVER , Dec. 14 /CNW/ - Helio Resource Corp. ("Helio" or the "Company") (TSX-V: HRC) is pleased to announce that it has reached agreement with IFC, a member of the World Bank Group, whereby IFC will enter into an equity subscription agreement (the "Financing") with the Company. The subscription price and total proceeds from the Financing will be determined by Helio's 15-day volume weighted average price preceding closing, and pricing will fall within TSX Venture Exchange private placement policy guidelines.

Upon closing of the Financing, IFC is expected to become the second largest shareholder in the Helio, with approximately 15% of the issued capital of the Company. The proceeds of the Financing will be used to continue the exploration of the SMP Gold Project, Tanzania and for general working capital.

The Financing is scheduled to close on or before January 20th, 2010 , and is subject to successful completion of IFC's mandatory 30-day disclosure period, IFC Board approval, and TSX Venture Exchange approval.

Helio's association with IFC represents numerous significant positives to the development of the SMP Gold Project, most notably:

    
        1.    IFC's track record of providing on-going financial support to
              its clients throughout the project cycle;
        2.    An association with a global financial organisation that
              promotes the highest of operating, environment, social, and
              health standards and;
        3.    The recognition of the potential of the SMP Gold Project to
              become a gold mine and provide economic stimulus to an under-
              developed region in SW Tanzania.
    

Each Unit of the Financing will comprise one common share plus one half of one share purchase warrant. Each full share purchase warrant shall be exercisable into one full common share of the Company at a price 50% greater than the subscription price.

ABOUT IFC

IFC, a member of the World Bank Group, creates opportunity for people to escape poverty and improve their lives. They foster sustainable economic growth in developing countries by supporting private sector development, mobilizing private capital, and providing advisory and risk mitigation services to businesses and governments. The IFC's new investments totalled $14.5 billion in fiscal 2009, helping channel capital into developing countries during the financial crisis. For more information, visit www.ifc.org.

    
    ABOUT THE SMP GOLD PROJECT
    --------------------------
    

Helio, through its 100% owned subsidiary BAFEX Tanzania Ltd., can earn a 100% interest in five contiguous licences, which cover a 35km strike length of the Saza Shear Zone.

Since June 2006 , Helio has drill-tested thirteen targets, nine of which are hosted along the Saza Shear Zone. Twelve of the targets have intersected bedrock-hosted gold mineralisation, the most advanced being the Porcupine and Kenge Targets (see the Corporate Presentation on the Home Page of the Helio's website at www.helioresource.com).

Chris MacKenzie, M.Sc., C.Geol., Helio's COO and a Qualified Person as designated by NI 43-101, supervises the exploration at the SMP project, including the sampling and quality assurance / quality control programmes, and has reviewed the contents of this news release.

    
                     ON BEHALF OF THE BOARD OF DIRECTORS

      "Richard D. Williams"                        "Chris MacKenzie"
    Richard D. Williams, P.Geo              Christopher J. MacKenzie, C.Geol.
              CEO                                          COO
    

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.

%SEDAR: 00012999E

For further information: Richard Williams, [phone] or by e-mail to [email protected]