Shoreham Resources Ltd.
TSX VENTURE : SMH

Shoreham Resources Ltd.

September 06, 2007 09:00 ET

Shoreham Announces Completion of Airborne Survey On Favourable Lake Property

TORONTO, ONTARIO--(Marketwire - Sept. 6, 2007) - David Bending, President & CEO of Shoreham Resources Ltd. (TSX VENTURE:SMH) is pleased to announce the signing of a drilling contract with Element Drilling Ltd. of Winnipeg, Manitoba, effective August 29, 2007. This contract provides for completion of a minimum of 2,500 meters of NQ diamond drilling in a planned program of seven to nine holes, with depths in the range of 300 to 500 metres each, in the Setting Net Lake Molybdenum prospect in the Favourable Lake Area of the Red Lake Mining Division, Ontario. Mobilization is in progress at this time.

The company has completed a systematic program of surface work including trenching, cleanup of historic trenches, and systematic diamond saw sampling of the surface expression of this porphyry style molybdenite target. Published reports, corroborated by Shoreham's surface exploration program, indicate that the mineralized area has a surface expression of 450 metres by 2,500 metres. On the basis of the 2007 field work and compilation of historic drilling results, the company is undertaking this Phase I air supported program to validate and expand the target. Additional systematic drilling, including testing of the Uranium and Silver targets in Shoreham's Favourable Lake Area holdings, is planned for the winter season when winter road access allows for cost effective mobilization of heavy equipment.

Shoreham has the option to earn a 100% interest in the Setting Net Lake Property through a staged program of share and cash payments and exploration expenditures. This drilling program is part of a systematic exploration and development program including airborne and ground geophysics, geological mapping and sampling, and drilling to confirm and expand on the advanced molybdenum, silver and uranium targets in this promising district.

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. Interested parties may obtain more detailed information by visiting the updated and recently enhanced website at www.shoreham.ca.

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

Contact Information