Shoreham Resources Ltd.
TSX VENTURE : SMH

Shoreham Resources Ltd.

September 20, 2007 09:30 ET

Shoreham Resources Ltd.: Drill Program Launched at Ontario Moly Porphyry Prospect

TORONTO, ONTARIO--(Marketwire - Sept. 20, 2007) - David Bending, President and CEO of Shoreham Resources Ltd. (TSX VENTURE:SMH) is pleased to announce that Element Drilling Ltd. of Winnipeg, Manitoba, has mobilized a Boyles 25 Drill to the Setting Net Lake Moly porphyry Prospect and began drilling operations on September 16, 2007. The Company expects the completion of a minimum of 2,500 metres of NQ diamond drilling in seven to nine holes to depths between 300 to 500 metres each.

Published reports documenting this porphyry-hosted target, corroborated by Shoreham's surface exploration program, indicate that the mineralized area has a surface expression of approximately 450 by 2,500 metres. A portion of this large mineralized area was drilled during the late sixties from which Minorex Ltd. estimated a resource of 100 million tons (91 million tonnes) averaging 0.09% MoS2 to a depth of 600 feet (189 metres). This historical estimate is not compliant with NI 43-101 and has not been subjected to sufficient work by Shoreham's Qualified Persons to classify it as currently compliant. Accordingly, this historical estimate should not be relied upon.

The company has completed a systematic program of surface work including trenching, cleanup and sampling of historic trenches, and systematic diamond saw sampling of the surface expression of this porphyry style molybdenum target. As of this time, approximately 900 meters of diamond saw cut channel samples have been mapped and collected at one-meter intervals, in two strategic sections in the exposed mineralized area. These samples have been delivered to SGS Mineral Services in Red Lake for processing and assays. This initial drilling program is designed to confirm historic drill results and provide valuable insight and direction while the Company plans and schedules the systematic winter drilling program. The Company continues to execute this planned systematic exploration and development program, which includes airborne and ground geophysics, geological mapping and sampling, and drilling to confirm and expand on this advanced molybdenum target.

Shoreham has the option to earn a 100% interest in the Setting Net Lake Property (located in the Favourable Lake Area, Red Lake Mining Division, Ontario) through a sequence of share and cash payments along with exploration expenditures. The programs to be executed as part of this project are planned and supervised by David Bending, P. Geo., President and CEO of Shoreham Resources Ltd. and a Qualified Person under National Instrument 43-101.

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