TORONTO, ONTARIO - Dec. 14, 2007 - Shoreham Resources Ltd. (TSX VENTURE:SMH), a Canadian based exploration company focused on exploration and development of precious metal and polymetallic deposits in South America and Canada, is pleased to announce the completion of its fall 2007 surface exploration program in the Marudi Mountain Project area of Guyana. Shoreham holds the option to earn a 75% interest in the Marudi Mountain project area through its agreement with Vannessa Ventures Ltd. (TSX VENTURE:VVV - News).
The program was planned and supervised by David Bending, M. Sc., P. Geo., and a Qualified Person as defined under NI 43-101. The Shoreham field team mobilized October 7, 2007 and included: 2 geologists, 2 technicians, and an experienced locally based prospecting and sampling crew. During the most active phase of the program the field team consisted of 42 people including camp support staff. Demobilization took place December 5, 2007.
The objectives of this program were re-activation of the camp and access roads, evaluation of extensions to the previously defined targets, evaluation and expansion of the oxide component of the Marudi and Mazoa gold targets and preparation for an updated NI 43-101 compliant resource estimate. This report will include the oxidized surficial material and expanded low-grade targets peripheral to the previously defined prospects. Previous work has been localized on 2 known lenses of mineralized ferruginous quartzite and iron formations. Shoreham's field work and data review have demonstrated potential extensions of the known targets, additional parallel zones of similar geology with associated gold values, and a compelling need for additional sampling of the saprolite and oxide component of the known targets.
Shoreham acquired and mobilized four portable mechanized auger drills capable of efficiently drilling holes in surficial materials and weathered bedrock to a depth of about 20 meters. This phase of work has been dedicated to drilling into the weathered bedrock to provide reliable samples below the shallow laterite and colluvial cover, which range from 1 to 4 meters in depth. The field team completed 916 vertical holes ranging in depth from 2 meters (in which ground conditions prevented satisfactory completion) to 8 meters, yielding 4,576 x 1 meter samples. After evaluation of these initial samples, the field team plans to extend the holes in the identified mineralized areas to a minimum depth of 15 meters to provide improved definition of the oxidized mineralized zones for resource evaluation and to aid in planning of ongoing exploration.
The program also utilized a D-7 Cat to complete seven trenches ranging in depth from 3 to 7 meters to provide access for systematic panel sampling of the mineralized zones and improved geological data for evaluation and advancement of these structurally complex targets. The seven trenches yielded 59 samples, each of which represented panels of 1 meter vertical by 3 meters across the targets, for a total of 167 meters of sampled width. The samples were shipped from the field to Acme Laboratories' preparation facility in Georgetown, Guyana, and then to Acme's assay facilities in Santiago, Chile. Sample shipments commenced in October and the final auger samples were shipped December 7, 2007. Shoreham is standing by for these results at this time.
David Bending, President and CEO of Shoreham Resources Ltd., reports; "We are very pleased with the progress our field team has reported in this program. The exploration targets have been expanded and significant new mineralized zones have been recognized as have the value of the trenching and mechanized auger drilling programs in our re-evaluation of the Marudi Mountain District. We await the assays with great interest."
About Shoreham Resources Ltd.
Shoreham Resources Ltd. is a Canadian based exploration company currently focused on exploration and development of precious metals and polymetallic deposits in South America and Canada. The Canadian projects cover 105 Ontario mineral claims in and around the Red Lake Mining District of northwestern part of the province including three advanced projects and many smaller or less advanced targets with important values in silver, molybdenum, gold and uranium. In Guyana Shoreham holds significant exploration land positions in the regions of Marudi Mountain and Potaro River (Omai/Mahdia area). The projects include the Marudi Mountain/Mazoa gold targets and the Maple Creek Diamond/Gold Property.
The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of the content of this news release.
Contact:
David A. Bending, P. Geo.
Shoreham Resources Inc.
President and CEO
(416) 867-1101
Email: info@shorehamresources.ca
Website: www.shorehamresources.ca
Tracy Weslosky
pro-edge consultants inc.
Managing Partners
(416) 581-0177 or Toll Free: (866) 544-9622
Fred Cowans
pro-edge consultants inc.
Managing Partners
(416) 581-0177 or Toll Free: (866) 544-9622
Email: info@pro-edge.com
Website: www.pro-edge.com
