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HE-5 Resources, Corp. Announces Further Details on Multi-Billion Dollar Iron Ore Mining Project in Cote D'Ivoire

Posted on: Wednesday, 6 February 2008, 09:00 CST

HE-5 Resources, Corp. (PINKSHEETS: HRRN) today announced further details on the multi-billion dollar iron ore mining Project in Cote d'Ivoire. The Mount Klahoyo Property is located adjacent to the Touba-Biankouma nickel project in northwestern Cote d'Ivoire operated by Xstrata plc -- the world's fifth-largest diversified mining company by market capitalization. Falconbridge, taken over by Xstrata plc in 2006, started exploring and drilling for nickel in the hills between Touba and Biankouma in 1995 and reported a vast laterite deposit of 292 million metric tons of nickel ore at 1.46% nickel per ton. The concession is the property of the state-owned Societe pour le Developpement Minier (SODEMI).

HE-5 is pleased to announce that negotiations with the Republic of Cote d'Ivoire, namely the Project Committee of the Director General (PCDG) and SODEMI, are progressing ahead of schedule. The Company attributes the significant progress in the negotiations to the exemplary work of Mr. Fernand Gilbert, international representative and the strong support and backing of Mr. N'Dri Koffi Apollinaire, Governor of the District of Yamoussoukro in Cote d'Ivoire. Management stated that the binding Agreement, which would legally award the iron ore concession to HE-5, will be signed any day now.

According to the January 31 Press Release (PR), HE-5 has achieved a Preliminary Agreement for an iron ore mining concession with the Republic of Cote d'Ivoire, which constitutes several massive iron ore Properties situated in the Republic's mountain regions.

Further to the PR, one of the Properties is situated at Mount Klahoyo which is within the western region of Man in Cote d'Ivoire. According to a recently published report by the National Bureau of Technical Studies and Development (BNETD), the iron ore resources at Mount Klahoyo amount to an estimated 700 million tonnes at a grade of 33% iron. As per the Preliminary Agreement, HE-5 will generate substantial revenues from the export of iron ore extracted from the Properties, including Mount Klahoyo, for a period of at least 15 years.

The fact that Mount Klahoyo, one of HE-5's likely future iron ore mining projects in Cote d'Ivoire, is adjacent to projects operated by large, established mining companies such as Xstrata plc is of great strategic importance to HE-5 and its future. HE-5 is in an enviable position relative to several other junior, emerging mining companies as potential concessionaire for an estimated multi-billion dollar iron ore mining Project situated in Cote d'Ivoire. This Project will likely deliver substantial long-term wealth and value to HE-5 and its shareholders. In addition, it will serve as the cornerstone of HE-5's goal to become an important global player in the mineral exploration and development industry.

About HE-5 Resources, Corp.

HE-5 Resources, Corp. (HE-5) is a growth-oriented and emerging natural resources company. HE-5's mission is to maximize shareholder value by investing in pre-production mining projects, which are undervalued and have proven reserves that will increase the revenue and profit of the Company. HE-5's goal is to establish a vast mineral reserve and resource base with a focus on the following 5 metals: gold, silver, iron, zinc and platinum.

Forward-Looking Statements

Please be advised that statements made herein, other than historical data, constitute forward-looking statements that involve risks and uncertainties that could cause actual results to differ materially from those stated or implied by such forward-looking statements. The potential risks and uncertainties include, among others, potential volatility in the company's stock price, increased competition, customer acceptance of new products and services offered by the company, and uncertainty of future revenue and profitability and fluctuations in its quarterly operating results. Please also be advised that the company's stock is not currently registered with the Securities and Exchange Commission.

 Contact: For more information, please visit: http://www.he-5resourcescorp.com or Call Investor Relations (514) 883-6388  

SOURCE: HE-5 Resources, Corp.

Source: MARKET WIRE

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