VANCOUVER, British Columbia, Nov. 2, 2005 (PRIMEZONE) -- Mr. Marc Cernovitch, President and CEO of Halo Resources Ltd. (TSX-V:HLO), (OTCBB:HLOSF), (FSE:HLR) is pleased to announce that Halo has staked and submitted for recording 21 mining claims comprising approximately 4,300 hectares in the Sherridon area in North-Central Manitoba.
The claims are located approximately 70 kilometres north of Flin Flon, Manitoba in the immediate vicinity of the historic Sherritt Gordon Mine. Halo considers the area to be under-explored and represents a unique exploration opportunity for the potential discovery of high-grade Volcanogenic Massive Sulphide (VMS) deposits similar to those found in the nearby Snow Lake area of Manitoba.
Halo has submitted an application to record the claims with the office of the Mining Recorder. There is a 30 day period from submission of the staked claims to the formal recording of the claims. All claims are subject to inspection.
Halo is actively analyzing strategic opportunities for the development of the area comprising the claims, including the sourcing of a potential strategic alliance, joint venture or sale transaction.
Halo is a Canadian-based resource company focused on the acquisition of near production base and precious base metal deposits. Currently the Company owns or has an interest in 3 projects: Duport, which is an advanced stage gold project; Bachelor Lake, which is a gold exploration project, and a letter of intent regarding Quarter Moon, which is a grass roots gold project. The Company is operated by an experienced management team and backed by a strong network of mining financiers. The Company's growth strategy is to develop a diversified portfolio of advanced mining projects.
ON BEHALF OF THE BOARD
Marc Cernovitch, President and CEO
The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.
Except for the historical statements contained herein, this news release presents forward-looking statements that involve inherent risks and uncertainties. Although the management and officers of Halo Resources Ltd. believe that the expectations reflected in such forward-looking statements are based upon reasonable assumptions, they give no assurance that their expectations will be achieved. Certain risks and uncertainties inherent in the Company's operations include political, economic, environmental and geological issues, including but not limited to, the continued need for additional capital, the competition within the mining industry, and other risks detailed from time to time in the Company's periodic reports filed with the British Columbia, Alberta & Quebec Securities Commission.