Everybody seems to have forgotten about these two little beauties from Aug.
Halo Acquires New Mineralized Properties in Manitoba
Toronto, Ontario, August 6, 2010 - Lynda Bloom, President and CEO of Halo Resources
Ltd. (TSX.V:HLO; FSE:HRL) is pleased to announce that an option to, acquire two newproperties west of the Halo’s 100% owned Sherridon VMS Property, northern Manitoba, subject
to the approval of the TSXV.
Halo has the right to acquire a 100% interest in two properties (743 hectares) that host copperzinc-
gold mineralization. The Drew property covers the north shaft of the Ideal deposit where
historic drilling returned results up to 20% Zn, 4.5% Pb, 1.5% Cu, and 5.5 oz/t Ag over 3 m
and is located just 3 km from Sherridon. Geochemical and geophysical surveys in 1999 and
2000 delineated a 400 m long copper- zinc anomaly that has had no subsequent exploration.
In addition, the Weldon property is located approximately 20 km southwest of Sherridon and
hosts the Kay and Northern Zones; limited drilling was done in the period 1951 to 1998. Drilling
on the Kay Zone intersected a 0.5 to 2 m wide by 800 m-long by 145 m thick, chalcopyrite,
sphalerite and gold mineralized horizon with stringer zones, in strongly sheared and sericitealtered
felsic rock. Assays ranged from 0.3 to 6% copper, 1.14 to 22% zinc, 0.4 to 1.3 g/t gold,
and up to 44 g/t silver. Significant off-hole pulse EM and airborne geophysical anomalies to the
west of the Kay Zone have not been drill tested.
“Halo continues to add to its portfolio of copper- zinc properties”, said Lynda Bloom, President
& CEO. “Our vision is to add to the known copper and zinc resources in the vicinity of the 200
square kilometer Sherridon VMS Property with the ultimate objective of processing ore from a
variety of sources. Halo was able to define NI43-101 compliant resources for four deposits
within two years and we intend to build on this success.”
Halo has optioned 1.1 square kilometers within the Sherridon VMS Property to joint venture
partner, Hudson Bay Mining and Smelting Co., Limited (“HudBay”), an affiliate of HudBay
Minerals Inc. (TSX: HBM) but retains a 100% interest in the remaining large property area.Field work has commenced to define targets for a drill program in late 2010.
Terms of the Agreement
The Company has entered into agreements, with arm's length vendors, to which Halo has the
option to earn a 100% interest in the Weldon and Drew properties and has made the first
payment of $25,000 with 100,000 common shares to be issued upon TSXV approval. Additional
cash payments of $180,000 are due over the next two years of which $110,000 will be paid in
shares at market price at the time due.
The property is subject to a 2% NSR of which Halo has the right to buy back three-quarters of
the 2% NSR royalty, for a purchase price of $500,000.00 per half of one percent bought back.
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ON BEHALF OF THE BOARD OF DIRECTORS
“Marc Cernovitch”
Marc Cernovitch, Chairm