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HE-5 Resources, Corp. Announces New Management Structure and Operating Plan for Cote D'Ivoire Mining Project

Posted on: Tuesday, 4 March 2008, 09:00 CST

NEW YORK, March 4 /PRNewswire-FirstCall/ -- HE-5 Resources, Corp. (Other OTC:HRRN.PK - News) today announced a new management structure and operating plan for the Cote d'Ivoire iron ore mining Project.

Following the signing of the Preliminary Agreement with the Republic of Cote d'Ivoire, HE-5 has been assembling working teams that will each have specific responsibilities and tasks to complete in the iron ore mining Project. The Project's operations will be comprised of the following three (3) working teams:

1) Mining Team

The Mining Team will be headed by Mr. Fernand Gilbert who will be responsible for the Project communications and negotiations with the Republic of Cote d'Ivoire. HE-5 will set up a "Cote d'Ivoire" Corporation wholly-owned by HE-5 in conformance with the mining code, which will receive the eligible share of the Government tax incentives related to the Project.

The Team will include the following personnel: - 1 Lead Geologist - 1 Lead Mining Engineer - 1 Cote d'Ivoire Government Representative - 1 Budget Controller

This Team will be responsible for conducting the field operations and managing the local and international staff, as well as all subcontractors. Mr. Fernand Gilbert and one (1) member of the management team will be appointed to HE-5's Board of Directors as a Company Officer and will report on a regular basis to HE-5 management.

2) HE-5 Management

Upon signing of the Preliminary Agreement for the Cote d'Ivoire Project, HE-5 has been actively recruiting highly qualified individuals with both management experience and an extensive network in the international mining industry to join the Company's Board of Directors. Secondly, negotiations are taking place to hire a new full-time Chief Executive Officer who possesses the capabilities and expertise to effectively oversee this large-scale mining Project. HE-5 has initiated these negotiations in response to Ms. Denyse Raynault's intentions to step down from the position of Company CEO due to her limited expertise in the international mining industry.

3) Financial Committee

Finally, pursuant to negotiations with three (3) major China-based lending firms for the financing of the first phase of the iron ore mining Project in Cote d'Ivoire, HE-5 will name one (1) director of the selected financial institution to serve as Chief of the Financial Committee.

About Cote d'Ivoire Mining Concession

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. 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.

For more information on HE-5 Resources Corp, please visit our Corporate Web Site at: http://www.he-5resourcescorp.com/ or call investor relations at 514-883-6388.

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.

HE-5 Resources, Corp.

CONTACT: http://www.he-5resourcescorp.com/, Investor Relations: (514)883-6388

Source: PRNewswire-FirstCall

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