Halo Resources Ltd.
OTC Bulletin Board : HLOSF

Halo Resources Ltd.

September 29, 2005 09:00 ET

Halo & Metanor Continue Drill Program at Bachelor

VAL-D'OR, QUEBEC--(CCNMatthews - Sept. 29, 2005) - Marc Cernovitch, President & CEO of Halo Resources Ltd. (TSX VENTURE:HLO)(OTCBB:HLOSF)(FWB:HRL) and Serge Roy, President & CEO of Metanor Resources Inc. (TSX VENTURE:MTO) are pleased to announce that drilling has re-commenced at the Bachelor Lake property located in Le Sueur Twp., Desmaraisville Quebec.

The Phase I West Extension surface drill program follows on from the successful underground (U/G) drilling which tested the Main and B Zones below the Bachelor Mine and is designed to test targets within the mineralized corridor immediately west of the Bachelor Mine development. A total of 5000 m in 15 holes is contemplated. The auriferous stratigraphy will be tested over a strike length of 2500 ft. (760 m) to a vertical depth of 2500 ft. and will include in-fill and expansion drilling. The Phase I surface drilling is a continuation of the U/G program that confirmed and extended gold mineralization at depth. An updated resource calculation will be carried out at the completion of this exploration campaign.

A significant portion of the program will focus on the untested area located 500 to 1000 ft (150-300 m) west of the Bachelor Mine, below the historic East Zone, between the 8600 and 7500 ft (ranging in vertical depth of between 1400 ft to 2500 ft.) elevations. Holes will be positioned to test the east plunging Main and B Zone structures on 150 and 200 ft (50 to 60 meter) centers in order to build resource tonnage in this target area. Holes investigating the Main Zone near the periphery of this target area intersected 12.35 g/t Au over a core length of 5.35 m from Hole 12-80, and 14.94 g/t Au over a core length of 5.03 m from Hole 12-44.

Up- and -down plunge extensions of the prospective West Zone will be tested with a systematic array of holes spaced approximately 200 and 320 ft (60 and 100 m) apart.

The West Zone is located in excess of 2000 ft (600 m) west of the Bachelor Mine and was explored by Aur Resources in the late 1980's. Historic intercepts include 9.46 g/t Au over a core length of 25.7 m from Hole 6-24 and 9.59 g/t Au over a core length of 13.72 m.

In addition to the Phase I West Extension program, detailed compilation studies will be carried to define additional satellite gold targets for follow-up exploration. The Bachelor property covers a prospective geological environment that includes a number of untested parallel targets south and to the east of the Bachelor Mine.

In conjunction with the surface drill program, work continues on the design of an expanded underground exploration and bulk sampling program that will be used to support the completion of a bankable feasibility study within the next 12 months. Details of this plan will be released in the near future.

Qualified Person

The Phase I West Extension program will be under the supervision of Messrs. Kevin Leonard P. Geo. of Halo Resources Ltd and Andre Tremblay P. Geo. of Metanor Resources Inc., Qualified Persons under National Instrument 43-101.

Mr. Leonard has reviewed and approved the contents of this press release.

Additional Information

For additional information on the Bachelor Lake Property, please see the Bachelor Lake Gold Mine Property NI 43-101 Technical Report dated December 20, 2004 (Revised version), filed on SEDAR at

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.

Shares outstanding : 17,267,598

Contact Information