Shoreham Resources Ltd.

Shoreham Resources Ltd.

May 18, 2006 11:57 ET

Shoreham Announces Completion of Airborne Survey On Favourable Lake Property

TORONTO, ONTARIO--(CCNMatthews - May 18, 2006) - David Bending, President & CEO of Shoreham Resources Ltd. (NEX:SMH.H) is pleased to announce completion of the previously announced airborne electromagnetic and magnetic survey by McPhar Geosurveys Ltd. Of Newmarket, Ontario. The survey completed from May 12 to 14, 2006, included 505 line km of survey using L'EMosquito Helicopter-borne time-domain ElectroMagnetic System and a Geometrics G-822A split-beam total-field magnetometer sensor.

Line Cutting, prospecting and geological evaluation programs are in progress at this time, with the objectives of mapping and sampling the outcropping silver and molybdenum targets and cleaning and re-sampling previously excavated trenches within the project area. These work programs and results will be included in an independent National Instrument 43-101 Property of Merit technical report intended for the TSX Venture listing application. Shoreham has retained Minorex Exploration Ltd. of Aldergrove, British Columbia, for preparation of the independent geological report.

Shoreham has the option to earn up to an 80% interest in the Favourable Lake Property from Gold Canyon Resources Inc. (TSX VENTURE:GCU) through a staged program of share and cash payments and exploration expenditures. Completion of the airborne survey and surface program will meet Shoreham's phase I first year obligations under the terms of the option agreement.

The programs to be executed as part of this project are planned and supervised by David Bending, P.Geo, President of Shoreham Resources Ltd. and a Qualified Person under National Instrument 43-101.

The NEX exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this news release

Contact Information

  • Shoreham Resources Ltd.
    David Bending, P. Geo.
    (416) 867-1101
    (416) 867-1222 (FAX)