|By Marketwired .||
|September 5, 2013 06:21 PM EDT||
VANCOUVER, BRITISH COLUMBIA -- (Marketwired) -- 09/05/13 -- HELLIX VENTURES INC. (TSX VENTURE:HEL)(OTCBB:HLLXF) - Frank Underhill, President, announces the Company has dropped the lease on its Margarita property in Arizona.
Due to the present situation in the public mineral exploration and development markets, Hellix is making every effort to lower its cash outlays for the near term. The Company attempted to re-negotiate the property lease payments with the property owner, but were unsuccessful. We have also been disappointed with the progress on our Margarita permit application for our phase two drill program. This was initially submitted close to one year ago. As at this date, it has not been reviewed by the personnel currently involved with the government agency responsible.
Hellix will continue in its pursuit of precious metals properties of merit.
HELLIX VENTURES (TSX VENTURE:HEL) 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.
Frank Underhill, President
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 arising from the use of this information. Historically reported results may not be NI 43-101 compliant and therefore caution should be used in relying on such statements.