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Re: News Release - Tuesday, March 13, 2007
Halo Reports Geophysical Surveys Underway at West Red Lake
Project
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Vancouver, British Columbia, March 13, 2007 - Marc Cernovitch, Chairman
of Halo Resources Ltd. (TSX.V:HLO; OTC.BB:HLOSF; FSE:HRL) is pleased to
announce that 60 line-km of geophysical surveys is underway at the
1,500 square hectares West Red Lake Project, located 35 km west of Red
Lake, Ontario.
"Completion of the geophysical surveys this winter allows us to
accelerate evaluation of the property and identify favourable gold
targets, in particularly where surveys extend over lakes. We now have
the opportunity to define targets based on prospecting and geophysical
anomalies so that we can fast-track the project for drilling in a few
months" said Lynda Bloom, President & CEO.
As previously reported (press release December 18, 2006), Halo
identified the North and South Zones within a favourable geologic
environment, equidistant between the historic Miles (Red Lake) and
May-Spiers deposits. Trench 8-01 located 200 m southeast of the North
Zone trenches averaged 7.83 g/t gold, 65.83 g/t silver and 0.86% ppm
copper from eight samples collected. The maximum gold value returned
22.7 g/t and the maximum silver and copper values returned 106 g/t and
3.63% respectively.
A sample collected near the 9-44 "shaft" of the South Zone, located 350
m south of the North Zone trenches returned 81 g/t gold, 100 g/t silver
and 4.61% copper over a width of 0.70m. In addition, a sample taken
from the 10-23 pit located along strike about 80m west of the 9-44
location yielded 3.62 g/t gold, 100 g/t silver and 8040 ppm arsenic.
The property was acquired by option from Goldcorp Inc., in April 2006.
Spectral IP (Induced Polarization), resistivity and magnetometer
surveying at 100 m line intervals are being carried out by JVX Ltd. of
Richmond Hill, Ontario covering the area between the historic Miles
(Red Lake) and May-Spiers deposits.
Qualified Person
The above information has been prepared under the supervision of Kevin
Leonard, who is designated as a "Qualified Person" with the ability and
authority to verify the authenticity and validity of the data. The
field work is supervised by Kevin Leonard, the project "Qualified
Person" under the definition of NI-43-101.
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; West 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.
For further information, please contact:
Marc Cernovitch, Chairman
Halo Resources Ltd.
Tel: 604-484-0068
Fax: 604-484-0069
Toll Free: 1-866-841-0068
mcernovitch@halores.com
The TSX Venture Exchange has not reviewed and does not accept
responsibility for the adequacy or accuracy of this release. Except for
the historical statements contained herein, this news release presents
"forward looking information" within the meaning of the United
applicable Canadian securities laws that involve inherent risks and
uncertainties. Forward-looking information includes, but is not limited
to, statements with respect to the future price of gold and other
minerals and metals, the estimation of mineral reserves and resources,
the realization of mineral reserve estimates, the capital expenditures,
costs and timing of the development of new deposits, success of
exploration activities, permitting time lines, requirements for
additional capital, government regulation of mining operations,
environmental risks, unanticipated reclamation expenses, title disputes
or claims and limitations on insurance coverage. 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 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 statements, 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 that is
incorporated by reference 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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Copyright (c) 2007 HALO RESOURCES LTD. (HLO) All rights reserved. For
more information visit our website at http://www.halores.com/ or send
mailto:news@halores.com
Message sent on Tue Mar 13, 2007 at 8:33:42 AM Pacific Time
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