Halo Resources Ltd.
OTC Bulletin Board : HLOSF

Halo Resources Ltd.

February 02, 2006 09:00 ET

Halo Increases Property Holdings in North-Central Manitoba

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - Feb. 2, 2006) - Mr. Marc Cernovitch, President and CEO of Halo Resources Ltd. (TSX VENTURE:HLO)(TSX VENTURE:HLO.WT.A)(TSX VENTURE:HLO.WT.B)(OTCBB:HLOSF)(FWB:HLR) is pleased to announce that Halo has staked and submitted for recording 16 additional mining claims comprising approximately 2758 hectares in the Sherridon area in North-Central Manitoba.

The claims are located approximately 68 km northeast of Flin Flon Manitoba and they cover the eastern extension of the Sherridon dome structure which hosts the historic Sherritt Gordon Mines. Halo considers the area to be under-explored and represents a unique opportunity for the potential discovery of high-grade volcanogenic massive sulphide (VMS) deposits similar to those found in the nearby Snow Lake area of Manitoba.

Halo has received Certificates of Recording for all 31 claims from the office of the Mining Recorder. This brings Halo's total land holding to 7,085 ha. All claims are subject to inspection.

Halo is actively pursuing strategic opportunities for the development of the area comprising the claims and previously staked claims.

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; Bachelor Lake, which is a gold exploration project, and the Sherridon project, which is a grass roots VMS project. 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.


Marc Cernovitch, President and CEO

The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release. 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. Investors are cautioned that, except as disclosed in the materials to be prepared in connection with the transaction, any information released or received with respect to the transaction may not be accurate or complete and should not be relied upon. Trading in the securities of Halo Resources Ltd. should be considered highly speculative.

The TSX Venture Exchange has in no way passed upon the merits of the proposed transaction and has neither approved nor disapproved the contents of this press release.

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