Shoreham Resources Bearhead Trend property agreement

Shoreham Resources Ltd (C:SMH)
Shares Issued 53,589,300
Last Close 7/2/2009 $0.25
Thursday July 02 2009 - Property Agreement

The TSX Venture Exchange has accepted for expedited filing documentation of an option agreement dated June 12, 2009, between the issuer, and Micael Desmeules and Garry Smith, whereby the issuer may acquire a 100-per-cent interest in the Bearhead Trend property, consisting of eight claims, totalling 128 units, located in the Red Lake mining district in Ontario.

In order to acquire a 100-per-cent interest in the property, the issuer is to pay the optionors a total of $480,000 cash and a total of one million common shares over a period of five years.

The property is subject to a 2-per-cent net smelter return (NSR) royalty payable to the optionors. The issuer will have the option to reduce the NSR royalty to 1 per cent upon paying the optionors the total amount of $2-million.

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