HALO EXTENDS COLD-LOST MINERALIZED TREND TORONTO, Ontario, September 23, 2010 - Lynda Bloom, President and CEO of Halo Resources Ltd. ("Halo", the "Company") (TSXV:HLO); (FSE:HRLN) is pleased to announce that ground geophysical surveys have identified additional targets in the Cold-Lost mineralized corridor. Several Crone Pulse EM (TDEM) anomalies have been interpreted that further extend the prospective horizon over
1,000 m to the east of the Lost deposit. In 2007, Halo discovered the Lost deposit where recent drilling intersected massive sulphide intervals that assay up to 3.8% copper and 12.6% zinc over 4 m and 2% copper and 6% zinc over 11.8 m, near surface.The ground geophysical surveys confirm the extension of a continuous string of airborne VTEM anomalies that extend from Lost Lake, east to, and under Sherlett Lake (see figure below). The Lost deposit discovery was a result of drill testing airborne VTEM survey anomalies and generated the near-production opportunity being advanced by Halo’s joint venture partner, Hudson Bay Mining and Smelting Co., Limited (“HudBay”), an affiliate of HudBay Minerals Inc. (TSX: HBM). The TDEM geophysical surveys provide greater depth penetration then the airborne surveys, with responses possible to 400 meters from surface. To-date no drilling has been done along the mineralized trend at depths greater than 200 meters and historical East Mine underground workings only extend to depths of approximately 100 meters.
"The new geophysical anomalies confirm that the Cold-Lost trend continues to the east onto ground held 100% by Halo and outside the HudBay joint venture area. These targets are within 1,000 meters of the in-fill drilling at Lost as well as the 1940s-era underground workings at the past-producing Sherritt Gordon copper-zinc mine." said Lynda Bloom, President and CEO. "Halo has developed sophisticated structural models in this area that have been enhanced by this summer’s field work, resulting in a high priority drill target."
The above information has been prepared under the supervision of Lynda Bloom, P.Geo., who is designated as a "Qualified Person" with the ability and authority to verify the authenticity and validity of the data.
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ON BEHALF OF THE BOARD OF DIRECTORS
"Marc Cernovitch"
Marc Cernovitch
Chairman
For further information, please contact:
Michael Joyner, IR
Telephone: 416-619-7539
Fax: 416-601-9046
Email: ir@halores.com
About Halo Resources Ltd.
Halo is a Canadian-based resource company focused on the acquisition of near production base and precious base metal deposits. The Company’s focus is the 200 sq. km. Sherridon VMS Property, a combination of mature and grassroots volcanogenic massive sulphide (VMS) copper, zinc and gold exploration opportunities. A 2008 NI43-101 compliant copper-zinc resource, for four of the known deposits in the district, was completed in less than 18 months. The Company has a joint venture interest in the Duport Property, an advanced gold property near Kenora, Ontario and is the operator for several contiguous joint venture properties in West Red Lake covering 45 sq. km. The Company is operated by an experienced management team with a growth strategy to develop a diversified portfolio of advanced mining projects.
Forward Looking Statements
This Company Press Release may contain certain "forward-looking" statements and information relating to the Company that are based on the beliefs of the Company's management as well as assumptions made by and information currently available to the Company's management. Such statements reflect the current risks, uncertainties and assumptions related to certain factors including, without limitations, competitive factors, general economic conditions, customer relations, relationships with vendors and strategic partners, the interest rate environment, governmental regulation and supervision, seasonality, technological change, changes in industry practices, and one-time events. Should any one or more of these risks or uncertainties materialize, or should any underlying assumptions prove incorrect, actual results may vary materially from those described herein.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
