Halo Resources Duport property agreement

The TSX Venture Exchange has accepted for filing a mining option agreement, dated Oct 7, 2008, between Halo Resources Ltd. and Hays Lake Gold Company Inc., whereby Hays will acquire, from the company, up to a 75-per-cent interest in the Duport gold property.

In consideration for the agreement, Hays will:

• Issue to the company two million shares;
• Incur $5-million on exploration and development expenditures on the property by Oct. 31, 2012;
• Make cash payments totalling $770,000 in scheduled quarterly payments over a four-year period ending Oct. 31, 2012.

Further information in regard to this disposition can be found in the company's news release dated Oct. 15, 2008.