Shoreham Resources Ltd.
TSX VENTURE : SMH

Shoreham Resources Ltd.

July 10, 2007 12:00 ET

Shoreham Resources Signs Option Agreement to Acquire Setting Net Lake South Claims

TORONTO, ONTARIO--(Marketwire - July 10, 2007) - David A. Bending, President and CEO of Shoreham Resources Ltd. (TSX VENTURE:SMH) is pleased to announce that the Company has signed an agreement with Perry English on behalf of Rubicon Minerals Corp. ("Vendor") to acquire five Ontario Mineral Claims, composed of 72 claim Units covering a total of 1,152 hectares located in the Setting Net Lake area of northwestern Ontario. The option agreement grants Shoreham the right to earn a 100% working interest in the Property and is subject to a 2% NSR.

Under the terms of the Agreement, Shoreham has the option to earn a 100% interest in these properties by paying the Vendor $5,000 within 30-days of regulatory approval and $15,000 prior to the first anniversary, $20,000 prior to the second anniversary, and $35,000 prior to the third anniversary of this Agreement. In addition, Shoreham is required to issue 100,000 common shares of the Company to the Vendor within sixty days of regulatory approval of this Agreement.

The Setting Net Lake South Property is strategically located adjacent to the Setting Net Lake and Twinpeaka properties, which are currently under option to Shoreham (see News Release 2007-08, dated May 9, 2007).

Shoreham may terminate this Agreement at any time on the condition that the Company is current in its obligations to the Vendor and the claims are in good standing. Shoreham currently has an exploration team in the region / area and is pursuing a programme of evaluation and testing of the projects in the Setting Net Lake area.

Shoreham Resources Ltd. is a Canadian resource company listed on the TSX Venture Exchange: Symbol "SMH"

The TSX Venture Exchange has not reviewed nor accepted responsibility for the adequacy or accuracy of the contents of this news release

Contact Information