Halo Resources Ltd.
Halo Resources Ltd.:Halo Intersects 3.5 m of 1.6% Copper & 5.6% Zinc at Lost Lake Deposit
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. ---------------------------------------------------------------------- February 28, 2008, Toronto, Ontario -- Lynda Bloom, President and CEO of Halo Resources Ltd. (TSX:HLO; OTC.BB:HLOSF; FSE:HRL) is pleased to announce that additional drilling at the Lost Lake deposit, northern Manitoba has demonstrated continuity of the copper-zinc mineralization over a strike length of 500 m with persistent high grades. Grades of 1.6% copper and 4.9% zinc over 5.1 m for hole DH07-55 and mineralized intervals in DH07-56 were previously reported (see press release October 24, 2007). Drill hole 07-76, drilled midway between these holes returned several significant intervals with up to 2.36% copper and 2.6% zinc over 1.5 m. Drill hole 07-77, drilled 100 m northwest of 07-55 included an important zone assaying 1.6% copper and 5.6% zinc over 3.6 m. 'Lost Lake was a major discovery for Halo in 2007 and follow up drilling confirms that this is an area of enhanced copper and zinc grades', says Lynda Bloom, President & CEO. 'We are investigating the continuity of the Lost Lake mineralization over a strike length of 800 m as well as the depth potential. This horizon, which apparently extends north through Cold Lake, is parallel to the one that hosts the past-producing Sherridon mine and looks to be equally prospective and near-surface.' The second phase of drilling at Lost Lake included a total of 3,008 m in 15 holes with assays pending for holes not reported here. The Lost Lake Zone 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. Two diamond drill rigs are testing several new targets along the Bob Lake mineralized horizon as well as extensions of the Bob Lake and Jungle Lake deposits. Technical Highlights Results from drill holes DH07-76 and DH07-77 at the Lost Lake deposit are reported in the assay table below. If you can't view the table below please go to www.halores.com. Hole Azimuth/Dip From (m) To (m) Interval* (m) Copper (%) Zinc (%) Silver (g/t) Gold (g/t) DH07-76 222/45 88.0 89.5 1.5 2.4 2.6 Tr. Tr. And 106.1 107.2 1.1 1.5 8.3 Tr. Tr. And 110.4 111.9 1.5 1.5 7.4 18.4 3.45 DH07-77 222/45 92.3 95.8 3.5 1.6 5.6 18.2 0.87 * Widths may be overstated by up to 15% in steeply dipping holes. Geometry of the orebody has not been determined so that true widths cannot be determined at this time. Drill holes DH07-69, DH07-70 and DH07-71 were drilled from the same site 125 m north of previously reported DH07-57 and intersected narrow intervals of sulphides up to 1.7% copper, 7.2% zinc and 19 g/t silver over 1.1 m. These holes were designed to test a mineralized horizon that was assumed to dip at 40 degrees northeast, as at Cold Lake about 500 m north but which has now been shown to have a more vertical attitude. 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 tonnes of ore grading 2.46%copper and 0.8% zinc. Results from an airborne geophysical survey completed in the summer of 2006 identified an additional 122 targets. 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 28.02.2008 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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