TORONTO, ONTARIO - Feb. 19, 2008 - Shoreham Resources Ltd. (TSX VENTURE: SMH - NEWS ; "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 progress in the evaluation and development of its Maple Creek - Potaro Properties in Guyana. Shoreham holds the option to acquire a 100% interest in this project area, in an agreement executed March 5, 2007 with Vannessa Ventures Inc (TSX VENTURE:VVV). David Bending, M.Sc., P. Geo is a Qualified Person pursuant to NI 43-101 and is responsible for the planning, execution and evaluation of the work reported herein.
Shoreham has completed a systematic program of line cutting and soil geochemistry in those portions of the 40,000 acre property package which are underlain by deeply weathered lower Proterozoic greenstones. The geological environment is prospective for gold but no significant bedrock gold prospects are known within the Licenses. Some portions of the property are covered by transported sands and are not suitable for this type of survey. As of February 1, 2008, the company has collected 1,855 soil samples, 245 stream sediment samples, 245 panned concentrates and 119 rock samples in the course of this survey. The samples have been submitted to Acme Analytical Laboratories for preparation and gold analysis and will be released when received and duly evaluated.
In conjunction with this systematic gold exploration program, Shoreham has acquired, from Vannessa Ventures Inc., assorted rolling stock (three backhoes, three Caterpillar tractors, three trucks, a front end loader, a DMS mineral processing plant, spares and assorted mining equipment). This equipment is being utilized in the company's exploration programs at Marudi Mountain and the Potaro River District, and shall also be utilized in other operations as the company advances its projects and investigates new opportunities.
David Bending, President and CEO of Shoreham Resources Ltd., reports; "We are pleased to announce this progress in the Maple Creek - Potaro River Licenses area including the systematic gold exploration which was our primary incentive for acquiring the properties and an alluvial operation to build on the heritage of data and infrastructure established by Vannessa Ventures. Our equipment purchase has provided the tools for effective exploration and test mining operations and we have already seen the value of these tools in accelerating the development of the Marudi Mountain project."
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.
The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of the content of this news release.
Contact:
David A. Bending
Shoreham Resources Ltd.
President & CEO
(416) 867-1101
(416) 867-1222 (FAX)
Email: dabending@cs.com
Website: www.shoreham.ca
