Shoreham Resources Ltd.

Shoreham Resources Ltd.

April 18, 2008 11:42 ET

Shoreham Reports Widespread Gold Mineralization at Marudi Mountain Gold Project in Guyana

TORONTO, ONTARIO--(Marketwire - April 18, 2008) - Shoreham Resources Ltd. (TSX VENTURE:SMH)("SMH" or "Shoreham"), a Canadian based exploration company dedicated to the exploration and advancement of precious metal and polymetallic deposits in South America and Canada, is pleased to announce further developments regarding its Marudi Mountain Gold Project in Guyana (the Property).

Shoreham has the right to earn a 75% working interest in the Property by exercising an option to acquire 75% of the shares of Romanex Guyana Exploration Ltd. (holder of 100% of the Property) held by Vannessa Ventures Ltd. (TSX VENTURE:VVV) by investing a total of $4,000,000 in qualified exploration and development work within three years. David A. Bending, M.Sc., P.Geo is a Qualified Person pursuant to NI43-101 and is responsible for the planning, execution and evaluation of the work reported herein.

As news released on December 14, 2007 (News Release 2007-23), the Shoreham field team mobilized on October 7, 2007 and consisted of 2 geologists, 2 technicians, and a 42 person locally based prospecting and sampling crew. Demobilization for the Holidays took place on December 5, 2007 and work resumed January 10, 2008, with the continued objectives of re-activation of the camp roads and related infrastructure, and further expanding the oxide component of the Marudi and Mazoa gold targets while identifying new gold targets and extensions within these areas.

Shoreham is pleased to report that camp roads and related infrastructure is in place and operational. In addition, this exploration activity achieved the desired results of further defining the known mineralized areas while identifying new gold targets and extensions. A brief summary of the work performed and the assay results follow:

- Shoreham acquired and mobilized four man-portable powered drills, capable of efficiently sampling surface materials (soils) and weathered bedrock up to 20-metre depth.

- Over 5,500 metres were drilled primarily in two detailed grids referred to as Marudi East and Toucan Hill.

- The field team completed 1,050 vertical holes in laterite and weathered bedrock, ranging in depth from 2 metres (in which ground conditions prevented satisfactory completion) to 8 metres, yielding 5,500 samples of 1-metre length.

- Two thousand metres (2 kilometres) of trenches up to 10 metres deep were completed on the Mazoa and Marudi targets. Using a D-7 Cat, these trenches provided access for systematic panel sampling of the mineralized zones and improved geological data for evaluation and advancement of these targets. Trenches planned for Toucan Hill were deferred to September 2008.

- Geological mapping and sampling shows over 12,000 metres of new mineralized ironstones and structures in 25 newly discovered zones, which appear to be consistent with the highest-grade historic alluvial workings and surface outcrop known results. This 6 km area of high priority zones lie within a 30 square km area, which has numerous known gold prospects and workings. This program represents a new era for the Marudi Project with a major expansion of the mineralized areas and the discovery of many new gold targets.

The Marudi East area is a small portion of the Property in which no previous resources had been defined. The completed fieldwork consisted of 1,325 samples, each of which were collected in 1.0 metre intervals in an array of shallow drill-holes. Gold values ranged from detection limits to 29.6 grams per tonne across these one-metre intervals. The team used a cutoff of 0.2 grams per tonne to delineate targets for detailed evaluation and resource modeling in saprolite and has noted an excellent correlation between these gold values and the presence of mineralized ironstones and iron cemented breccias. Assayed results from the Marudi Ease (phase 1) were as follows:

Marudi Trado Sections Phase 1 (Marudi East):

Section Width Est. True Width Au g/t
12700 120.0 99.2 1.36
12720 120.0 99.2 1.19
12740 260.0 215.0 1.15
12760 240.0 198.4 0.55
12780 160.0 132.3 0.52
12800 100.0 82.7 0.71
12820 220.0 181.9 0.30
12860 60.0 49.6 0.38
12880 220.0 181.9 0.30
12920 80.0 66.1 0.40
Best Sections: 6.0 11.20
6.0 4.03

The Toucan Hill orientation survey consisted of 3,615 samples in a tightly spaced array of shallow drill-holes. Within this area, which covers a relatively small portion of the Toucan Hill targets, 391 of the 3,615 samples exceeded 0.2 grams gold per tonne and sample values ranged up to 23.0 grams per tonne (all samples were one metre true width).

Upper Toucan Trado Sections Phase 1 (Toucan Hill):

Section Width Est. True Width Au g/t
12040 120.0 120.0 0.38
12060 100.0 100.0 0.72
12080 80.0 80.0 0.58
12140 80.0 80.0 0.60
12520 60.0 60.0 0.43
Best Sections: 6.0 3.40
6.0 1.74

The samples from Shoreham's 2007/8 phase of work were shipped from the field to Acme Laboratories' preparation facility in Georgetown, Guyana and then to Acme's assay facilities in Santiago, Chile.

For informational purposes only, the following table is a summary of historic mineralized diamond drilling intercepts in the Mazoa Hill prospect area that is found within the Property. The table summarized below is from historical records of work performed by Romanex (Guyana) Exploration Inc. Please note that the current exploration program was not dedicated to the Mazoa Hill Target, but the historical results clearly demonstrate potential for important additions to the mineralized material identified by the work plan as noted above.

Mazoa Hill Historic Diamond Drilling Summary of Key Sections

Est. True
Hole Depth Az/dip From To Au G/T Width Width
60 162.7 180/-53 0 162 3.11 163 114.1 Terminated
in 2.31 g/t
Including 36 5.20 36 25.2
61 212.2 180/-49 84 201 4.43 117 81.9
63 83.8 180/-50 30 83 3.06 54 37.6 Terminated
in 2.5 g/t
68 179.1 230/-50 87 156 5.40 69 62.1
73 218.9 180/-50 78 189 2.08 111 77.7
74 272.3 180/-50 81 192 3.18 111 77.7
75 235.3 180/-50 81 183 1.43 102 71.4
90 305.7 180/-50 230 306 4.74 76.5 53.6 Terminated
in 4.2 g/t
94 239.3 180/-50 84 228 2.19 144 100.8
99 306.0 180/-50 150 270 1.95 120 84.0

Although Shoreham Resources Ltd. has reviewed the original analytical reports as summarized above, and to the best of our ability has determined that the work was performed in certified laboratories, the company has not completed independent sampling of these intercepts and therefore cautions the reader that this disclosure is for historic purposes only, and that these historical results are for comparison purposes only and are not NI43-101 compliant. As part of advancing this program, the company plans to complete a selection of audit drill-holes to provide independent verification of these significant historic results.

David Bending, President and CEO of Shoreham Resources Ltd., reports; "We were able to assemble a good team that completed the required tasks on the Marudi Mountain Gold Property. Marudi Mountain is developing into an impressive opportunity for our company and our partner Vannessa Ventures Ltd. As we learn more about the size and controls of the gold systems within the Property boundaries, we continue to gain confidence that we will be able to compile the necessary results that will be used in the compilation of a NI43-101 compliant calculation for this gold rich area."

The TSX Venture Exchange has not reviewed and accepts no responsibility for the adequacy or accuracy of this news release.

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