TORONTO, ONTARIO - Feb. 6, 2008 - Shoreham Resources Ltd. (TSX VENTURE:SMH) ("Shoreham";), a Canadian based exploration company dedicated to exploration of advanced precious metal and polymetallic deposits in South America and Canada, is pleased to announce commencement of its winter 2008 program at the Setting Net Lake Molybdenum Target, Red Lake District, Ontario. Shoreham holds the option to acquire a 100% interest in this prospect.

David Bending, M.Sc., P. Geo., and Dr. G. H. Cameron, M.Sc., Ph.D., Maus IMM, are Qualified Persons pursuant to NI-43-101. These Qualified Persons are responsible for the planning, completion and interpretation of the results disclosed in this release. The samples were delivered to the SGS Laboratory in Red Lake, Ontario for preparation and analysis.

Shoreham conducted an extensive mapping and surface sampling program, including 683 diamond saw cut channel samples of the mineralized granodiorite (1.0 m) from July 2007 to September 2007. This surface sampling documents a zone of almost continuous sheeted vein molybdenum mineralization (greater than 0.02 wt% Mo) across 325 metres of width (open to the south) and has tested and confirmed mineralization along 400+ metres of strike.

Shoreham contracted Element Drilling Ltd. to mobilize a diamond drill and commenced a 2,500 metre drilling program in September 2007. The program was delayed by mechanical problems with the drill, which completed only 164.5 metres of NQ core drilling of the first of ten planned holes when the program was suspended due to the winter freeze-up. The 161.6 metres of core (less 2.9 metres of casing) returned an average molybdenum value of 0.033 wt% (0.054 wt% molybdenite or MoS2), with 1.5 metre intervals ranging from barren dikes below detection limits of 0.01 to 0.11 wt% Mo (0.18 wt% molybdenite).

Shoreham has contracted LaBine Brothers Ltd., of to complete a minimum initial program of 3,500 metres in ten holes on the Setting Net Lake Target area during February and March 2008. This program is designed to confirm and expand the historic Setting Net Lake Molybdenum Target (Historic Resource estimates from published sources that are not compliant with NI 43-101 cite a resource of 100 million tons grading 0.09% molybdenite (91 million tonnes grading 0.054% Mo)). Please note that a qualified person has not done sufficient work to classify the historical estimate as current mineral resources. The issuer is not treating the historical estimate as current mineral resources and the historical estimate should not be relied upon. The mapping and sampling program demonstrated that the target extends well beyond the area included in this historic resource estimate, and the potential for expansion and enhancement of the target is excellent.

David Bending, President and CEO of Shoreham Resources Ltd., reports; "We are pleased to announce continuation of our drilling and evaluation program at Setting Net Lake. This large porphyry - type molybdenum system is an important opportunity for our shareholders, and we are committed to undertaking systematic work to demonstrate its true value in this resource market. As a stand-alone target, the Setting Net Lake is important. In conjunction with development of our other advanced prospects in the Red Lake District and in Guyana, we recognize great potential value for our company and encourage investors to pay close attention to our progress this year.";

Investors are invited to visit the Shoreham Resources IR Hub at www.agoracom.com/IR/Shoreham where they can post questions and receive answers or review questions and answers already posted by other investors. Alternatively, investors are able to e-mail all questions and correspondence to SMH@agoracom.com where they can also request to be added to the investor e-mail list to receive all future press releases and updates in real time.

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