Halo Resources Ltd.
Halo Resources Ltd.: HALO ISSUES JUNGLE RESOURCE REPORT
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. ---------------------------------------------------------------------- January 8, 2008, Toronto, Ontario – Lynda Bloom, President and CEO of Halo Resources Ltd. (the 'Company') (TSXV:HLO; OTC.BB:HLOSF; FSE:HRL) has filed the NI43-101 compliant resource estimate report for Jungle Lake on SEDAR. The final report confirms the resource estimates reported November 22, 2007 of 1,325,000 tonnes in the Indicated resource category with an overall grade of 1.17% copper, 0.85% zinc and precious metal credits and 2,177,000 tonnes in the Inferred resource category with an overall grade of 1.10% copper, 0.67% zinc and precious metal credits. The cut-off grades were calculated on the basis of a Net Smelter Return ('NSR') using all four commodities. These grades and tonnages translate to contained metal as show in the following table. If the table below is not shown right, please go to www.halores.com Potential Resource Contained Metal Mining Method Class Copper (lb) Zinc (lb) Gold (oz) Silver (oz) Open Pit Indicated 18,115,387 23,357,811 10,407 178,790 Open Pit Inferred 25,241,831 17,817,763 17,756 270,236 Underground Indicated 15,932,810 11,567,657 8,276 181,904 Underground Inferred 23,421,915 14,272,729 9,607 287,666 1 Open pit Cut-off NSRUS$20 above the 218 m level 2 Underground Cut-off NSR US$40 below the 218 m level. Metal prices of $2.00/lb copper, $0.75/lb zinc, $600/ounce gold and $8.50/ounce silver were used to determine cut-off NSR values. The following cross-section shows the orientation of the massive sulphide lens that has been followed from surface to 400 m from surface and the placement of the proposed open pit. The Scott-Wilson RPA report recommends drilling 3,725 m in 21 drill holes to (a) decrease drill hole spacing within the proposed pit area and improve the resource classifcatiuon from the Inferred category to the Indicated category; and (b) test the geophysical targets that could possibly extend the pit area near surface for 200 m to the northwest. Drilling continues at the Sherridon VMS Property, utilizing two diamond core drill rigs, focused on advancing Cold Lake, Bob Lake and Jungle Lake deposits, all within a 4 km by 4 km area at the Sherridon VMS Property, northwestern Manitoba. The above information has been prepared under the supervision of Tom Healy, P.Eng, COO who is designated as a 'Qualified Person' with the ability and authority to verify the authenticity and validity of the data. To show the map with the cross-section please go to www.halores.com ON BEHALF OF THE BOARD Lynda Bloom, President and CEO 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 08.01.2008 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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