Shane Resources Ltd.
TSX VENTURE : SEI

Shane Resources Ltd.

October 16, 2007 16:06 ET

Shane Resources Ltd. Announces Changes in Directors

SASKATOON, SASKATCHEWAN--(Marketwire - Oct. 16, 2007) - Shane Resources Ltd. (TSX VENTURE:SEI) announced today that Mr. Mike Magrum and Mr. Rick Kusmirski have resigned from the Board of Directors effective immediately. The Company would like to thank both gentlemen for their past contributions.

Eric Wray and Kyle Kozuska have been appointed as directors of the Corporation. The new directors were recommended for appointment by a group of shareholders of the Corporation, representing a significant percentage of the voting shares of the Corporation. Eric Wray and Kyle Kozuska will form the Board of Directors together with Richard Walker, a member of the Board since 1989.

Kyle Kozuska, CIM, CFA, is the President and Portfolio Manager of Paradigm Portfolio Management Corporation. Kyle graduated from the University of Saskatchewan with a Bachelor of Commerce with a double major in Finance and Economics. Kyle worked in the investment management business at both CIBC Wood Gundy, and Merrill Lynch Canada Inc. (formerly Midland Walwyn), before creating Paradigm.

Eric Wray, B.Sc., has been involved in the Mining and Financials Industries for over 35 years. He holds a Bachelor of Science (Geology) from Acadia University. Eric has worked as a geologist for Noranda Mines & Esso Minerals Canada. Eric has been involved in the financial sector as a Stock Broker and Financial Advisor for Midland Walwyn and CIBC Wood Gundy.

The Corporation is an entity established under the laws of Saskatchewan. The Corporation is an aggressive, well-diversified junior exploration company that has assembled an impressive portfolio of mineral properties in Canada.

ON BEHALF OF THE BOARD

Rick Walker, President

The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this news release.

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