Halo Resources Ltd.
Halo Resources Ltd.:Halo Intersects 2.44% Copper over 2.6 m at the Fidelity-Sherridon Zone
Halo Resources Ltd. / Miscellaneous Release of a Corporate News, transmitted by DGAP - a company of EquityStory AG. The issuer / publisher is solely responsible for the content of this announcement. ---------------------------------------------------------------------- May 13, 2008, Toronto, Ontario -- Lynda Bloom, President and CEO of Halo Resources Ltd. (TSX:HLO; FSE:HRL) is pleased to announce that preliminary testing of the Fidelity Zone and geophysical target E10 intersected copper-rich sulphides and broad zones of disseminated mineralization associated with strong VMS-style alteration. The Phase I drill program extended the known strike length of the mineralized stratigraphy an additional 600m north from Bob Lake and intersected up to 2.4% copper over 2.6 m on the eastern limb of the Sheila Lake fold (see Figure 1 – to view figure 1 please go to www.halores.com). 'The Sheila Lake fold is an important target area as our regional analysis demonstrates that similar fold hinges elsewhere on the property host the East Mine, Lost Lake and other known deposits', says Lynda Bloom, President & CEO. 'Professor Doug Tinkham of Laurentian University will lead our mapping and geological studies at the Fidelity Zone for the second year to identify targets for the Phase II drill program. We have found the broad zones of copper-zinc enrichment coupled with intense VMS-style alteration that are key indicators for VMS-deposits and are very encouraged by the preliminary results.' Fidelity is 100%-owned by Halo Resources and is located within 4 km of four other known deposits, including the Cold Lake, Bob Lake, Jungle Lake and Park Lake deposits. Mineralization is near-surface and located next to an operating rail line that connects to Flin Flon. Diamond drilling continues at Bob Lake and the southern trend of the Lost Lake deposit. An aggressive exploration program is planned for the field season to examine high priority targets. If you can't view the table below please go to www.halores.com. Technical Highlights Hole Azimuth/Dip From (m) To (m) Interval* (m) Copper (%) Zinc (%) Silver (g/t) DH08-91 201/45 154.8 157.8 3 1.15 <0.1 4.8 and 192.6 195.2 2.6 2.44 <0.1 5.1 and 239.9 241.1 1.2 1.42 <0.1 6.1 DH08-92 201/45 88.9 91.5 2.6 0.68 <0.1 3.3 DH08-101 326/45 141.00 143.00 2.00 <0.1 1.63 <1.5 * Widths may be overstated by up to 15% in steeply dipping holes. Geometry of the ore body has not been determined so that true widths cannot be determined at this time. A total of seven (7) drill holes for a total of 1875.7m were completed in an area of 600m by 400m located on the eastern limb of the Sheila Lake fold. Drill holes DH08-91, 08-92, 08-94 and 08-95 target the main historical Fidelity Zone mineralization. In addition to the significant assays in the table above, broad zones of dissemination pyrite and trace chalcopyrite were reported in hole DH08-94 at depths of 38.6 to 69.9m and in hole DH08-95 from 46.2 to 66.8 m. These holes tested the depth extent of the historical mineralization over a 100 m section of the more than 500 m strike length of the Fidelity Zone. Due to the proximity of the Sheila Lake fold hinge the orientation of the mineralized zone changes abruptly, relative to its orientation just 500 m to the southeast at Bob Lake. The Phase I test of the area was designed to augment 2007 mapping and provide three-dimensional information for further 2008 structural studies. Drill holes DH08-98, 08-100 and 08-101 target airborne geophysical anomalies from the Geotech 2006 survey. Maxwell models of the anomalies created by Condor Consulting suggested a near-vertical conductive source. Holes DH08-98 intersected 7 m of graphitic schist at a depth of 408m and 08-100, drilled 350m northwest, intersected weakly graphitic felsic gneiss between 108 to 142 m downhole; the weak and narrow graphitic units do not adequately explain the extent and strength of the E10 geophysical anomaly. The hole drilled between these two holes, DH08-101, intersected a narrow zone of zinc-rich sulphides at a depth of 140m associated with an important 53 m-wide zone of intense sillimanite-anthophyllite, a style of alteration that is seen at Lost Lake and the surface expression of the Sherridon East Mine deposits. Sampling, assaying and quality control procedures are consistent with those reported in the Technical Background of the press release issued February 15, 2007. The above information has been prepared under the supervision of Stephen MacConnell, who is designated as a 'Qualified Person' with the ability and authority to verify the authenticity and validity of the data. About the Sherridon VMS Property The Sherridon VMS Property covers an area of over 20,876 hectares and hosts the past-producing Sherridon Mine that was operated by Sherritt Gordon Mines from 1933 to 1950 and produced 7.7 million ones of ore with recovered grades of 2.46%copper and 0.8% zinc. Results from an airborne geophysical survey completed in the summer of 2006 identified an additional 122 targets. Over 25,000 m of diamond drilling have been completed since November 2006 and drilling continues year-round. A NI43-101 compliant resource estimate for the Sherridon Jungle Lake Zone has been filed on SEDAR and resource calculations are planned for the nearby Cold, Lost and Bob Zones. The property is located only 70 km northeast of the mining and metallurgical complex in Flin Flon operated by HudBay Minerals Inc. Future development of the property is facilitated by the presence of an all-weather road and railroad access as well as a power line and communications tower. About Halo Resources Ltd. Halo is a Canadian-based resource company focused on the acquisition of near production base and precious base metal deposits. Currently the Company owns or has an interest in 3 projects: Duport, which is an advanced stage gold project; Red Lake, which is a gold exploration project, and the Sherridon project that is a combination of mature and grassroots volcanogenic massive sulphide (VMS) copper, zinc and gold exploration opportunities. The Company is operated by an experienced management team and backed by a strong network of mining financiers. The Company’s growth strategy is to develop a diversified portfolio of advanced mining projects. Contact Germany: Value Relations GmbH T. 069 / 959246 – 11 F. 069 / 959246 – 20 HALO@ir-services.de www.halores.com 13.05.2008 Financial News transmitted by DGAP ---------------------------------------------------------------------- Language: English Issuer: Halo Resources Ltd. Suite 1280, 625 Howe Street V6C 2T6 Vancouver, BC Kanada Phone: +1 604 484 0068 Fax: +1 604 484 0069 E-mail: info@halores.com Internet: www.halores.com ISIN: CA40637D1087 WKN: A0DQZ4 Listed: Freiverkehr in Berlin; Open Market in Frankfurt End of News DGAP News-Service ---------------------------------------------------------------------------
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