Halo Resources Ltd.
Halo Resources Ltd.: HALO PLANS RESOURCE ESTIMATE FOR LOST LAKE
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. ---------------------------------------------------------------------- April 2, 2008, Toronto, Ontario -- Lynda Bloom, President and CEO of Halo Resources Ltd. (TSX:HLO; FSE:HRL) is pleased to announce the initiation of a NI43-101 compliant resource estimate for the recently discovered Sherridon Lost Lake Zone, in northern Manitoba. A total of 18 holes, for 3492 m drilled, have been completed which identified mineralized intersections up to 4.7 m of 3.0% copper and 8.9 % zinc at depths within 100 m of surface. The drilled portion of the Sherridon Lost Lake Zone with copper grades from 1.5 to 3%, combined with zinc grades between 3 to 9%, demonstrates strong continuity. The Zone has been traced over a strike length of 300m and has been traced up to 150m from surface and is open in all directions. It lies within a mineralized horizon that can be traced over 3 kilometers which also hosts the Sherridon Cold Lake Zone. The Cold-Lost mineralized horizon trends parallel to the strike of the past-producing Sherridon East and West Mines that is 500m to the west. Drill results have been previously reported (March 18 and March 25, 2008) and are summarized in the NI43-101 report filed recently on SEDAR. 'The Sherridon Lost Lake Zone is highly significant for Halo. The Zone is of sufficient size to initiate resource calculations and the grades are the highest reported to date on the Sherridon VMS Property. When the apparent metal content of the Sherridon Lost Lake Zone is added to the metal inventory in the nearby Cold, Bob and Jungle Zones, there is a significant and positive impact on the economics of the project,' says Lynda Bloom, President & CEO. 'We will continue to pursue the 3 kilometer-long Cost-Lost mineralized horizon where we have consistently identified higher, near-surface targets. A summer program of mapping, geophysics and drilling is planned.' To further explain the significance of the Sherridon Lost Lake Zone, a webcast is planned for Wednesday, April 2 at 2 pm that can be accessed by logging onto the Internet and enter the following URL: http://www.investorcalendar.com/IC/CEPage.asp?ID=127678 or http://www.investorcalendar.com/IC/ClientPage.asp?ID=127678&CID The webcast will be available for viewing for two weeks with maps and figures posted on the Halo website. 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 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 02.04.2008 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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