Headline: Sheltered Oak Resources Reports First Assays from Phase 4 Drilling

Trading Symbol: TSX-V OAK

TORONTO, Jan. 20 /CNW/ - Sheltered Oak Resources Corp. ("OAK" or the "Company") today announced the first assay results from its Phase 4 drill program at the Kerrs Gold Property located on the western shore of Lake Abitibi, northeast of Matheson, Ontario. In Phase 4, eight drill holes (K-09-22B to K-09-29) were completed totaling 3,545 metres: six were delineation holes drilled on the Kerrs trend and 2 holes were drilled on the Kidston-Dyment Option.

Robert Hanson, CEO, commented, "These assays are important because they confirm the presence of the Kerrs green carbonate vein systems extend to the southwest. Taken together, drill holes K-09-22B, -25, -26, -27, -28 and -29, exhibit good continuity over a lateral strike length of 300 metres. These drill hole intersections also establish the extension of the Kerrs breccia zones to a distance of 175 metres plunging down dip under Bell Lake from section lines 1100N to 800N."

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                                                            Weighted Avg. Au

      Hole                                                  Grade g/t/Metre -

     Number          Grid Location       Interval (Metres)  True thickness(m)

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    K-09-22B  L1100 N/0+15 E Dip:         442.7m - 447.2m   2.82g/t/4.05 m

              60 degrees Az 311 degrees

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    K-09-23   L900 SE/125 W Dip:          235.5m - 237.0m   1.93 g/t/1.35 m

              -57 degrees Az 072 degrees  300.0m - 301.5m   1.78 g/t/1.35 m

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    K-09-25   L1100 N/0+15 E Dip:         372.5m - 377.0m   0.92 g/t/4.05 m

              -80 degrees Az 311 degrees

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    K-09-26   L1000 N/0+0 BL Dip:         358.0m - 363.0m   0.74 g/t/4.5 m

              -80 degrees Az 311 degrees

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    K-09-27   L900N/175 E Dip:            396.0m - 404.0m   3.32 g/t/7.2 m

              -60 degrees Az 311 degrees

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    K-09-28   L900N/175 E Dip:            336.5m - 441.0m   0.27 g/t/4.05 m

              -85 degrees Az 311 degrees

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    K-09-29   L800N/185 E Dip:            393.5m - 397.0m   3.74 g/t/3.15 m

              -60 degrees Az 311 degrees

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    >>

The highest results came from the 'middle' vein of the replacement breccia zone. It shows gold enrichment in four of the holes with weighted average grades varying between 0.74 g/t and 3.32 g/t Au over true widths ranging from 4.05 m to 4.5 m.

The two reconnaissance holes K-09-23 and -24 drilled on the Kidston-Dyment Option claim tested a prominent southeasterly trending magnetic low target. The presence of a pyritized, silicified quartz feldspar porphyry containing anomalous gold values was confirmed whereby drill hole K-09-23 returned 1.93 g/t Au from 235.5 m to 237 m and 1.78 g/t Au from 300 m to 301.5 m. Further assaying of the silicified alteration zone is required for drill hole K-09-24.

Assay results are pending for drill holes K-09-28 and -29 which on visual inspection confirmed the presence of the Kerrs breccia zone under Bell Lake on line 800N at depths ranging from 329 m to 386.8 m respectively.

During the 2009 summer program 1,600 soil samples were collected and will be submitted for mobile metal ion (MMI) analysis in the first quarter of 2010. Phase 5 drilling in Q2 2010 will focus on infill drilling of the Kerrs trend (see news release dated January 7, 2010) in order to providing remaining data needed to fulfill NI 43-101 standards for a resource estimate to follow.

Gold mineralization at Bell Lake occurs as pyritized quartz vein breccias enveloped by quartz fuchsite carbonate vein breccias with up to three brecciation sequences identified in several drill holes. Fine gold is primarily associated with fine pyrite grains (1% to 5%) disseminated within quartz veins and altered mafic pillow flows overlying a magnetite/ olivine-rich ultramafic flow assemblage. Coarse gold also occurs in sulphide-poor fuchsite carbonate quartz veins as observed in K-09-27 returning 19.8 g/t over 1.0 m at a depth of 396 metres on section 900N.

The Phase 4 diamond drilling program that comprised geological core logging, sampling and assaying tasks was supervised by Peter Hubacheck, P.Geo. No. 1059 (APGO) on behalf of Hubacheck Consulting Geologists (HCG), affiliated with W.A. Hubacheck Consultants Ltd. Mr. Hubacheck is a qualified person as defined by NI43-101 and has reviewed and authorized the geotechnical material in this press release.

There are 49,000,000 issued and outstanding common shares of Sheltered Oak Resources Corp.

About Sheltered Oak Resources Corp.

Sheltered Oak Resources is a British Columbian corporation with its head office located in Oakville, Ontario. OAK is focused on mineral exploration opportunities within Canada and owns 100% of the Kerrs Gold Property, located in the prolific area of the Abitibi Greenstone Belt in northeastern Ontario. The Kerrs Gold Property is highly prospective in a region with a long and active mining history.

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Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

This release was prepared by management of the Company who takes full responsibility for its contents. The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this news release.

Some statements contained in this release are forward-looking and, therefore, involve uncertainties or risks that could cause actual results to differ materially. Such forward-looking statements include comments regarding mining and milling operations, mineral resource statements and exploration program performance. Factors that could cause actual results to differ materially include metal price volatility, economic and political events affecting metal supply and demand, fluctuations in mineralization grade, geological, technical, mining or processing problems, exploration programs and future results of exploration programs, future profitability and production. The Company disclaims any obligation to update forward-looking statements unless required by law.