Halo Resources Ltd.
Halo Resources Ltd.: HALO EXPANDS JUNGLE LAKE OPEN PIT
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. ---------------------------------------------------------------------- Toronto, Ontario, June 5, 2008 – Lynda Bloom, President and CEO of Halo Resources Ltd. (the 'Company') (TSXV:HLO; FSE:HRL) is pleased to announce that drilling west of the Jungle Lake deposit has expanded the near surface strike length approximately 15%. A short drill program tested areas north and west of the known resources where the mineralization is projected to come to surface. Four of the drill holes intersected semi-massive to massive sulphides with similar copper grades as the Indicated resource category but with zinc grades triple what is estimated for the rest of the deposit. 'The additional holes at Jungle Lake extend the strike length of the massive sulphide zone by about 25% and demonstrate that the mineralization extends to within 41m of surface. The significant increase in zinc grades adds to the economic potential of the Jungle Lake deposit, which when taken in conjunction with positive results at the nearby Cold, Lost and Bob Lake deposits at the Sherridon VMS Property, impacts the potential of the entire district that we are exploring', says Lynda Bloom. Halo filed a NI43-101 compliant resource estimate report for Jungle Lake (see press release January , 2008) that confirmed 1,325,000 tonnes in the Indicated resource category with an overall grade of 1.17% copper, 0.85% zinc and precious metal credits. In addition, there are 2,177,000 tonnes in the Inferred resource category with an overall grade of 1.10% copper, 0.67% zinc and precious metal credits. A NI43-101 compliant report is in preparation to report on resource estimates for the Cold, Lost and Bob Lake deposits. Webcast Halo will be hosting a webcast immediately following this announcement to provide additional background information on the Sherridon Project. To view the webcast please follow this link http://www.investorcalendar.com/IC/CEPage.asp?ID=130699 or visit the Halo website at www.halores.com Technical Highlights Seven vertical diamond drill holes, for a total of 1,098m, were completed. Mineralized intervals are summarized in the following table and the accompanying map shows the location of 2008 phase of drilling to the west. The massive-sulphide intervals in holes DH08-103, DH08-105 and DH08-110 expand the potential open pit limits approximately 50m west. Hole DH08-113, to the north, improves confidence in the western extent of the resource model and continuity of the mineralized zone. Hole From (m) To (m) Interval (m)* Copper (%) Zinc (%) Silver (g/t) DH08-103 71.45 75.42 3.97 0.89 2.25 5.7 DH08-105 40.70 46.11 5.41 0.60 2.22 5.2 DH08-110 113.04 118.19 5.15 0.64 2.10 5.9 DH08-113 174.20 177.47 3.27 0.35 0.99 6.2 * True width estimated as 85% of the interval. 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. ON BEHALF OF THE BOARD Lynda Bloom, President and CEO 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. For further information, please contact: Lynda Bloom, President & CEO or Marc Cernovitch, Chairman Halo Resources Ltd. Tel: 416-368-7045 Fax: 416-368-9805 Toll Free: 1-866-841-0068 lbloom@halores.com 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. Kontakt Deutschland: Value Relations GmbH T. 069 / 959246 – 11 F. 069 / 959246 – 20 HALO@ir-services.de www.halores.com 05.06.2008 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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