HALO PLANS RESOURCE ESTIMATE FOR LOST LAKE
Toronto, Ontario, April 2, 2008 -- Lynda Bloom, President and CEO of Halo
Resources Ltd. (TSX:HLO; FSE:HRL) is pleased to announce the initiation of a
NI43-101 compliant resource estimate for the recently discovered Sherridon Lost
Lake Zone, in northern Manitoba. A total of 18 holes, for 3492 m drilled, have
been completed which identified mineralized intersections up to 4.7 m of 3.0%
copper and 8.9 % zinc at depths within 100 m of surface.
The drilled portion of the Sherridon Lost Lake Zone with copper grades from 1.5
to 3%, combined with zinc grades between 3 to 9%, demonstrates strong
continuity. The Zone has been traced over a strike length of 300m and has been
traced up to 150m from surface and is open in all directions. It lies within a
mineralized horizon that can be traced over 3 kilometers which also hosts the
Sherridon Cold Lake Zone. The Cold-Lost mineralized horizon trends parallel to
the strike of the past-producing Sherridon East and West Mines that is 500m to
the west. Drill results have been previously reported (March 18 and March 25,
2008) and are summarized in the NI43-101 report filed recently on SEDAR.
"The Sherridon Lost Lake Zone is highly significant for Halo. The Zone is
of sufficient size to initiate resource calculations and the grades are the
highest reported to date on the Sherridon VMS Property. When the apparent metal
content of the Sherridon Lost Lake Zone is added to the metal inventory in the
nearby Cold, Bob and Jungle Zones, there is a significant and positive impact
on the economics of the project," says Lynda Bloom, President & CEO. "We
will continue to pursue the 3 kilometer-long Cost-Lost mineralized horizon
where we have consistently identified higher, near-surface targets. A summer
program of mapping, geophysics and drilling is planned."
To further explain the significance of the Sherridon Lost Lake Zone, a webcast
is planned for Wednesday, April 2 at 2 pm that can be accessed by logging onto
the Internet and enter the following URL
http://www.investorcalendar.com/IC/CEPage.asp?ID=127678 or
http://www.investorcalendar.com/IC/ClientPage.asp?ID=127678&CID
The webcast will be available for viewing for two weeks with maps and figures
posted on the Halo website.
About the Sherridon VMS Property
The Sherridon VMS Property covers an area of over 20,876 hectares and hosts the
past-producing Sherridon Mine that was operated by Sherritt Gordon Mines from
1933 to 1950 and produced 7.7 million tonnes of ore with recovered grades of
2.46%copper and 0.8% zinc. Results from an airborne geophysical survey
completed in the summer of 2006 identified an additional 122 targets. Over
25,000 m of diamond drilling have been completed since November 2006 and
drilling continues year-round. A NI43-101 compliant resource estimate for the
Sherridon Jungle Lake Zone has been filed on SEDAR and resource calculations
are planned for the nearby Cold, Lost and Bob Zones. The property is located
only 70 km northeast of the mining and metallurgical complex in Flin Flon
operated by HudBay Minerals Inc. Future development of the property is
facilitated by the presence of an all-weather road and railroad access as well
as a power line and communications tower.
For further information, please contact:
Lynda Bloom, President & CEO or Marc Cernovitch, Chairman
Halo Resources Ltd.
Tel: 416-368-7045 Fax: 416-368-9805
Toll Free: 1-866-841-0068 lbloom@halores.com
About Halo Resources Ltd.
Halo is a Canadian-based resource company focused on the acquisition of near
production base and precious base metal deposits. Currently the Company owns or
has an interest in 3 projects: Duport, which is an advanced stage gold project;
Red Lake, which is a gold exploration project, and the Sherridon project that
is a combination of mature and grassroots volcanogenic massive sulphide (VMS)
copper, zinc and gold exploration opportunities. The Company is operated by an
experienced management team and backed by a strong network of mining
financiers. The Company's growth strategy is to develop a diversified portfolio
of advanced mining projects.
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The TSX Venture Exchange does not accept responsibility for the adequacy or
accuracy of this release. This news release presents "forward looking
information" within the meaning of the applicable Canadian securities laws
that involve inherent risks and uncertainties. Forward-looking information
includes, but is not limited to, information with respect to the proposed
private placement. Generally, forward-looking information can be identified by
the use of forward-looking terminology such as "plans",
"expects" or "does not expect", "is expected",
"budget", "scheduled", "estimates",
"forecasts", "intends", "anticipates" or
"does not anticipate", or "believes", or variations of such
words and phrases or state that certain actions, events or results
"may", "could", "would", "might" or
"will be taken", "occur" or "be achieved". Forward-looking
information is subject to known and unknown risks, uncertainties and other
factors that may cause the actual results, level of activity, performance or
achievements of Halo to be materially different from those expressed or implied
by such forward-looking information, including but not limited to: risks
related to financings; risks related to the integration of acquisitions; risks
related to joint venture operations; actual results of current exploration
activities; actual results of current or future reclamation activities; conclusions
of economic evaluations; changes in project parameters as plans continue to be
refined; future prices of gold and other minerals and metals; possible
variations in ore reserves, grade or recovery rates; failure of equipment or
processes to operate as anticipated; accidents, labour disputes and other risks
of the mining industry; and delays in obtaining governmental approvals or
financing or in the completion of development or construction activities. Although
the management and officers of Halo Resources Ltd. believe that the
expectations reflected in such forward-looking information are based upon
reasonable assumptions and have attempted to identify important factors that
could cause actual results to differ materially from those contained in forward-looking
information, there may be other factors that cause results not to be as
anticipated, estimated or intended. There can be no assurance that such
information will prove to be accurate, as actual results and future events
could differ materially from those anticipated in such information. Accordingly,
readers should not place undue reliance on forward-looking information Halo
does not undertake to update any forward-looking information referenced herein,
except in accordance with applicable securities laws. Trading in the securities
of Halo Resources Ltd. should be considered highly speculative.
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