FOR IMMEDIATE RELEASE
Langley, British Columbia

TSX.V
Symbol: SMH
Shares Outstanding: 71,721,798

Shoreham Advances Bearhead Trend Mo U REE Properties

LANGLEY, B.C., CANADA, August 4, 2010 � Shoreham Resources Ltd. (the �Company� or �Shoreham�) (TSX-V: �SMH�), a Canadian exploration company exploring advanced precious metals and polymetallic deposits in Guyana and Canada, is pleased to announce that the Company has evaluated the results of work performed to date on the Bearhead Trend properties, located in the Red Lake Mining District of northwestern Ontario. The Bearhead Trend is a 12 kilometre-long segment of a major shear zone system that hosts significant uranium and molybdenum occurrences found within Shoreham�s claims. Drilling in this property area during the period from 1974 to 1979 exceeded 40,000 feet with many significant intercepts with molybdenum and uranium values across widths from one to fifty meters.

In March and April 2010, Shoreham completed a helicopter-borne VTEM electromagnetic survey over the Bearhead Trend totaling 928.6 line kilometres at 100 metre spacing carried out by Geotech Ltd. The results of the airborne survey have been integrated with the results of ground work completed in 2009 on the Bearhead West Targets, which consisted of line cutting, ground spectrometer surveys, mobile metal ion geochemical sampling (�MMI�) and rock sampling. A field program with emphasis on the airborne geophysical data and the geochemical or radiometric anomalies has been scheduled to commence shortly.

The 2009 geochemical and rock sampling results showed widespread molybdenum and uranium mineralization, and heavy rare earth element anomalies. The 2009 work program considered the results of the historical surveys, including the location of known mineralized zones along 2,600 meters of strike length, but utilized modern exploration methods to identify new and expanded targets and explore the widespread occurrences of molybdenite and rare earth elements (�REE�) in and around the uranium mineralized zones.

The field program was designed and supervised by Garry Smith, P.Geo., a Qualified Person by the standards of NI 43-101, and a consultant to the Company. Within a 3.3 kilometre-long cut and chained grid, the team flagged and surveyed 813 grid sites, collected 559 MMI (�Mobile Metal Ions�) samples, and collected 62 rock samples to represent previously excavated trenches and zones of strong spectrometer response. The MMI surveys mapped the known mineralized zones including the 500 metre-long West zone, the 650 metre-long sector called the D + E zones, and the 200 metre-long F zone.

Rock sample values ranged from 20 parts per million (�ppm�) to 1.26% U3O8, with 17 of the 62 samples exceeding 0.06% U3O8 and 22 of the 62 samples exceeding 500 parts per million (0.05% Mo). Molybdenum is significantly more extensive than the uranium mineralized areas, with 21 of the 62 samples exceeding 500 ppm and a range of 7 ppm to 6,900 ppm. The MMI surveys show some overlap between areas of REE, molybdenum and uranium enrichment, but the REE anomalies are more extensive and generally offset from the previously-tested uranium zones. Additional work is recommended to evaluate the full extent of the various mineralized zones in this large and complex zoned system.

David Bending, M.Sc., P.Geo., President and CEO of Shoreham and a Qualified Person pursuant to NI 43-101, said: �We are very encouraged by the results and the developing picture along the Bearhead Trend. The continuing program this summer will expand on this work including prospecting and mapping of airborne geophysical responses and extension of the systematic ground surveys eastward to include the adjacent Mattless Lake property. The REE anomalies and the surprisingly strong molybdenite mineralized zones add significantly to our interest in these strategic properties.�

For further information regarding Shoreham, please visit our website at www.shoreham..ca or contact Mr. David A. Bending at 604-533-9288.

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.

Forward Looking Statements

This release contains �forward-looking statements� within the meaning of applicable Canadian securities legislation. Forward-looking statements include, but are not limited to, statements that address activities, events or developments that the Company expects or anticipates will or may occur in the future, including such things as future business strategy, competitive strengths, goals, expansion, growth of the Company�s businesses, operations, plans and with respect to exploration results, the timing and success of exploration activities generally, permitting time lines, government regulation of exploration and mining operations, environmental risks, title disputes or claims, limitations on insurance coverage, timing and possible outcome of any pending litigation and timing and results of future resource estimates or future economic studies.

Often, but not always, forward-looking statements can be identified by the use of words such as �plans�, �planning�, �planned�, �expects� or �looking forward�, �does not expect�, �continues�, �scheduled�, �estimates�, �forecasts�, �intends�, �potential�, �anticipates�, �does not anticipate�, or �belief�, or describes a �goal�, or variation 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 statements are based on a number of material factors and assumptions, including, the result of drilling and exploration activities, that contracted parties provide goods and/or services on the agreed timeframes, that equipment necessary for exploration is available as scheduled and does not incur unforeseen break downs, that no labour shortages or delays are incurred, that plant and equipment function as specified, that no unusual geological or technical problems occur, and that laboratory and other related services are available and perform as contracted. Forward-looking statements involve known and unknown risks, future events, conditions, uncertainties and other factors which may cause the actual results, performance or achievements to be materially different from any future results, prediction, projection, forecast, performance or achievements expressed or implied by the forward-looking statements. Such factors include, among others, the interpretation and actual results of current exploration activities; changes in project parameters as plans continue to be refined; future prices of minerals; possible variations in grade or recovery rates; failure of equipment or processes to operate as anticipated; the failure of contracted parties to perform; labour disputes and other risks of the mining industry; delays in obtaining governmental approvals or financing or in the completion of exploration, as well as those factors disclosed in the company's publicly filed documents. Although both companies have attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking statements, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements.