TORONTO, ONTARIO - Oct. 25, 2007 - Shoreham Resources Ltd. (TSX VENTURE:SMH) held its Annual General Meeting in Toronto, October 24, 2007. The following Directors were elected at the Annual General Meeting and at a subsequent Board of Director's meeting, the following appointments were made:
David Bending
Director, Chairman of the Board, President, CEO, Chairman of the Technical Committee, Member of the Compensationn Committee, Member of the Corporate Governance Committee
Glenn O'Gorman
Director, Vice President, Member of the Technical Committee
Gerald Feldman
Director, Chairman and Member of the Audit Committee, Member of the Compensation Committee
Terrence Schorn
Director, Member of the Audit Committee, Member of the Technical Committee, Member of the Compensation Committee, Member of the Corporate Governance Committee
Greg MacRae
Director, Member of the Audit Committee, Chairman and Member of the Compensation Committee, Chairman and Member of the Corporate Governance Committee
David Hammond
Chief Financial Officer
Mr. David Bending, the Board of Directors and the shareholders thank Mr. Michael Waggett, Mr. Murray Macham, and Mr. David Hammond for their service to the Board of Directors. All three gentlemen have committed their continuing support to the Company.
McGovern Hurley Cunningham LLP Chartered Accountants were reappointed as Auditors for the Company. Shareholders confirmed all other matters as proposed to shareholders in the Information Circular.
A corporate presentation was made at the meeting and is available on the Company's website at www.shorehamresources.com.
Other Matters
Shoreham Resources Ltd. has received writen notice notice dated October 24, 2007 from Garrison International Ltd. confirming that the agreement mentioned in a news release by Garrison dated January 19, 2007 relating to certain exploration and mining concessions in the Potaro/Maple Creek Property in Guyana, South America has been terminated.
About Shoreham Resources Ltd.
Shoreham Resources Ltd. is a Canadian based exploration company currently focused on exploration and development of precious metal and polymetallic deposits in South America and Canada.
Canada: The Company's holdings are localized in the Favourable Lake - Setting Net Lake Greenstone Belt in the Red Lake Mining Division of Ontario. This is a unique and highly prospective volcano - sedimentary belt with diverse metallic mineral prospects. Consolidation of this project area is an outstanding achievement for our company. This portfolio includes three advanced targets with extensive previous drilling and pre - NI 43-101 resources - the 100+ million tonne Setting Net Lake Porphyry Molybdenum prospect, the Bearhead Lake Uranium prospect and the Borland Lake Silver prospect. Our objective is expansion and development of these targets. The 2007 and 2008 programmes are dedicated to advancing them to systematic drill testing. This includes airborne and ground geophysics, prospecting, mapping, trenching and diamond saw channel sampling, and two phases of diamond drilling. The company is well funded, has a strong logistical and technical team, and has established excellent field infrastructure to conduct these programs.
Guyana: The company holds significant exploration land positions in the Marudi Mountain and Potaro River (Omai/Mahdia area) of Guyana. These project areas include the advanced Marudi Mountain/Mazoa gold targets and the Maple Creek Diamond/Gold Mine. The company is actively exploring for gold along the Marudi Mountain/Paint Mountain Trend and in the lateritized greenstone areas of the Potaro Project area. The objectives are expansion of the Marudi targets to a nominal objective exceeding one million ounces of gold, with targets in the conceptual range of fifteen to twenty million tonnes with grades in the range of 1.8 to 2.5 grams per tonne.
This objective relies on the project's heritage of drilling and surface sampling data, historic estimates based on those data which preceded the Company's activities in the country, and the Company's geological projections of the mineralized environments. The potential quantity and grade is conceptual in nature. There has been sufficient exploration undertaken to define a mineral resource which is smaller than that outlined as the company's objective, but it is uncertain if further exploration will result in discovery of a mineral resource as is suggested in the company's target objectives. The company is also exploring its Potaro Area properties to evaluate their shallow gold exploration potential.
The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this news release.
Contact:
David A. Bending
Shoreham Resources Ltd.
President & CEO
(416) 867-1101
(416) 867-1222 (FAX)
Email: info@shoreham.ca
Website: www.shorehamresources.com
