Halo Resources Ltd.

Halo Resources Ltd.

March 16, 2005 09:03 ET

Halo Drilling at Duport Continues to Yield Strong Results


NEWS RELEASE TRANSMITTED BY CCNMatthews

FOR: HALO RESOURCES LTD.

TSX VENTURE SYMBOL: HLO
OTC Bulletin Board SYMBOL: HLOSF
FRANKFURT SYMBOL: HRL

MARCH 16, 2005 - 09:03 ET

Halo Drilling at Duport Continues to Yield Strong
Results

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - March 16, 2005) - Marc
Cernovitch, President & CEO of Halo Resources Ltd. (TSX VENTURE:HLO)
(OTCBB:HLOSF) (FWB:HRL) is pleased to announce the latest results from
the Phase I drill program being carried out on the Company's Duport gold
project near Kenora, Ontario. The results are from core holes designed
to expand resources by testing the down plunge extension of the
prospective Main and East Zones. Drilling is also being directed along
strike to the southwest where widely-spaced historical holes have
intersected encouraging gold mineralization.

Highlights of the drill testing of the South Main Lens in the vicinity
of 8,400 N include:

- A 9.7 ft intersection grading 0.23 opt gold (3.0 m grading 7.9 grams
per tonne gold) and including 0.406 opt gold over 5.0 ft (13.9 grams per
tonne gold over 1.5 m)

- A 6.5 ft intersection grading 0.233 opt gold (2.0 m grading 8.0 grams
per tonne gold) over and including 0.386 opt gold over 3.4 ft (13.2
grams per tonne gold over 1 m) from Hole 05-08. This hole intersected
the mineralized zone at a vertical depth of 680 ft (207 m).

- Extension of the South Main Lens by an additional 600 ft (183 m) to a
vertical depth of 900 ft (274 m).

The East Zone also continues to return positive results with Hole 05-06
intersecting 0.780 opt gold over 3.6 ft (26.7 grams per tonne gold over
1.1 m) at a vertical depth of 302 ft.

Significant intercepts reported are presented in Table 1 below. This is
the second set of results from an ongoing core drilling program. Please
refer to the Press Release dated March 4th, 2005 for the results from
the first five drill holes.

The results of a recently completed detailed magnetometer survey
totaling 70 line kilometers are pending. The magnetometer survey will be
used to guide follow-up drilling along strike of the Duport
mineralization.

The immediate exploration plans are as follows:

- Continue additional in-fill and resource expansion drilling to
investigate the Main and East Zones at depth and along strike to the
southwest.

- Use pending results from geophysical surveys to identify targets for
immediate follow-up drill testing.

- Using existing and new drill hole data, complete a geological model to
form the basis for a new, NI 43-101 compliant resource estimate

- Complete an internal scoping study to establish the economic viability
of a short term production start-up. It is anticipated that a positive
study result would result in the immediate continuation of the proposed
exploration program from the already extensive underground workings.



Table 1 below details the results from Holes 05-06 to 05-09

Table 1 Summary of Results from Main and East Zones

HOLE SECTION TARGET FROM TO LENGTH ASSAY GRADE
(ft) (ft) (ft) (ft) (opt Au-Ft.)
---------------------------------------------------------------------
05-06 8600N South Main 282.8 283.8 1.0 0.070
283.8 285.4 1.6 0.066
285.4 287.5 2.1 0.042 0.236-9.7
287.5 290.2 2.7 0.225 Including
290.2 291.5 1.3 0.864 0.406-5.0
291.5 292.5 1.0 0.299

East Zone 314.0 315.6 1.6 1.643 0.531-3.6
315.6 317.6 2.0 0.156
---------------------------------------------------------------------
05-07 8,900N Hangingwall 578.0 580.0 2.0 0.444
580.0 582.0 2.0 0.095 0.215-6.0
582.0 584.0 2.0 0.105

Central 1,006.0 1,007.0 1.0 0.304
Main 1,007.0 1,008.0 1.0 0.240 0.202-3.0
1,008.0 1,009.0 1.0 0.061

East Zone 1,151.6 1,152.6 1.0 0.200
1,152.6 1,153.6 1.0 0.018 0.094-3.0
1,153.6 1,154.6 1.0 0.065
---------------------------------------------------------------------
05-08 8,500N Hangingwall 501.6 502.6 1.0 0.304
502.6 503.6 1.0 0.030 0.098-4.0
503.6 505.6 2.0 0.029

South Main 758.0 759.1 1.1 0.088
759.1 760.1 1.0 0.057
760.1 761.1 1.0 0.045 0.233-6.5
761.1 762.5 1.4 0.383 Including
762.5 763.5 1.0 0.452 0.387-3.4
763.5 764.5 1.0 0.326

East Zone 836.9 837.9 1.0 0.149 0.142-2.1
837.9 839.0 1.1 0.135
---------------------------------------------------------------------
05-09 8,500N South Main 1,054.9 1,055.9 1.0 0.052
1,055.9 1,056.9 1.0 0.137 0.067-4.0
1,056.9 1,057.9 1.0 0.014
1,057.9 1,058.9 1.0 0.064
---------------------------------------------------------------------


Assaying is conducted on sawn NQ-sized half core sections by Accurassay
Laboratories, from Thunder Bay, Ontario, using conventional fire assay
procedure. Standards and blanks are included in each sample batch
submitted for analysis.

Qualified Person

The above information has been prepared under the supervision of Kevin
Leonard, who is designated as a "Qualified Person" with the ability and
authority to verify the authenticity and validity of the data. The field
work is supervised by Kevin Leonard, the project "Qualified Person"
under the definition of NI 43-101. Mr. Kevin Leonard is the consulting
geologist to Halo for the Duport project.

Halo Resources Ltd.

Halo Resources Ltd. (TSX VENTURE:HLO) (OTCBB:HLOSF) (FWB:HRL) is a
Canadian-based resource company focused on the acquisition of near
production base and precious base metal deposits. The Company is
operated by an experienced management team and backed by a strong
network of mining financiers. Currently the Company has a treasury of $5
million, to carry forward its operations. The Company's growth strategy
is to develop a diversified portfolio of advanced mining projects.
Website: www.halores.com

ON BEHALF OF THE BOARD

Marc Cernovitch, President & CEO

Except for the historical statements contained herein, this news release
presents forward-looking statements that involve inherent risks and
uncertainties. Although the management and officers of Halo Resources
Ltd. believe that the expectations reflected in such forward-looking
statements are based upon reasonable assumptions, they give no assurance
that their expectations will be achieved. Certain risks and
uncertainties inherent in the Company's operations include political,
economic, environmental and geological issues, including but not limited
to, the continued need for additional capital, the competition within
the mining industry, and other risks detailed from time to time in the
Company's periodic reports filed with the British Columbia Securities
Commission and the United States Securities and Exchange Commission.

-30-

Contact Information

  • FOR FURTHER INFORMATION PLEASE CONTACT:
    Halo Resources Ltd.
    Marc Cernovitch
    President & CEO
    (604) 484-0068 or Toll Free: 1-866-841-0068
    (604) 484-0069 (FAX)
    mcernovitch@halores.com
    www.halores.com
    The TSX Venture Exchange has not reviewed and does not accept
    responsibility for the adequacy or accuracy of this release.