Shoreham Resources Ltd.
TSX VENTURE : SMH

Shoreham Resources Ltd.

April 30, 2009 09:01 ET

Shoreham Announces a Minimum $1,000,000 Private Placement Financing

LANGLEY, BRITISH COLUMBIA--(Marketwire - April 30, 2009) - Shoreham Resources Ltd. (TSX VENTURE:SMH), a Canadian exploration company dedicated to the exploration of advanced precious metal and polymetallic deposits in Guyana and Canada, is pleased to announce a private placement which is expected to raise a minimum of CDN$ 1,000,000 by the issuance of a minimum of 3,333,333 Units at a price of $0.30 per Unit. Each Unit consists of one common share of Shoreham Resources along with a 3/4 of a share purchase warrant which entitles the subscriber to acquire one further common share of Shoreham Resources Ltd. per full warrant exercised at a price of $0.60 per share within one (1) year of the date of approval of the private placement, and a 1/4 of a share purchase warrant which entitles the subscriber to acquire one further common share of Shoreham Resources Ltd. per full warrant at a price of $1.20 per share within two (2) years of the date of approval of the private placement. The Company has filed a price reservation Form 4A with the TSX Venture Exchange. The closing date is expected to be on or before May 4, 2009. Finder's fees in cash and / or shares or brokers warrants as allowed by the TSX Venture Exchange may be paid pertaining to this private placement. The Company has 48,392,300 shares issued and outstanding prior to the shares to be issued as a result of this private placement. The transaction has been approved by Shoreham's Board of Directors and is subject to Exchange approval.

Proceeds from this private placement will be for continued exploration and development of the Company's mineral properties and general working capital purposes.

David Bending, M.Sc., P. Geo., President and CEO of Shoreham Resources Ltd. is a Qualified Person as defined in National Policy 43-101 ("NI 43-101"), and is responsible for all technical information contained in this news release. Bending reports that; "this placement represents another important milestone in growing Shoreham Resources and developing the outstanding targets we have indentified in Guyana. These funds will be utilized for generative programs, advancing the Marudi Mountain Project, and crucial general and administrative needs."

For further information please visit our website at www.shoreham.ca or contact our President and CEO Mr. David A. Bending at 604-533-9288. You may also contact our Investor Relations Hub at www.agoracom.com/IR/Shoreham where you can post questions and receive answers or review questions and answers already posted by other investors or our Investor Relations Representative, Mr. Mike Kachanovsky via email at mike@shoreham.ca or Pro-edge Consultants Inc., Tracy Weslosky, at 1-416-581-1717 or via email at tracy@proedge.com.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

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