Shoreham gold production at Marudi Mountain

Shoreham Resources Ltd., a Canadian based exploration company dedicated to the exploration and advancement of precious metal and polymetallic deposits in South America and Canada, announces developments regarding its Marudi Mountain Gold Project in Guyana. Shoreham has the right to earn a 75% working interest in the Property by exercising an option to acquire 75% of the shares of Romanex Guyana Exploration Ltd. (holder of 100% of the project) held by Vanessa Ventures Ltd. and by investing a total of $4,000,000 in qualified exploration and development work within three years.

Shoreham has signed a Letter of Intent (LOI) with REXMA Participations which, subject to due diligence extending to August 1, 2008 and execution of a Definitive Agreement, will contract REXMA to evaluate and mine gold from the alluvial, elluvial and colluvial overburden on the Marudi Mountain Gold Project.

The LOI provides for an initial contract period of five years, with one five-year renewal option at Shoreham’s discretion. REXMA will be responsible for all it’s costs and will pay a 10% gross production royalty to Romanex. As described in the LOI, REXMA’s operations will not be permitted to conflict with Shoreham or Romanex interests or access to bedrock and saprolite exploration targets.

Initial REXMA operations will be concentrated in portions of the Property that are in and near bedrock gold targets, which will advance Shoreham’s pre-stripping activities in preparing the Mazoa, Marudi, Toucan Creek, Peace Creek, Pancake Creek and Success Creek areas, which are all within the approximately 55.77 square kilometre (13,774 acre) Marudi Mountain Gold Project. Pursuant to the LOI, REXMA will be required to construct and operate an alluvial mining operation capable of processing 200,000m3 to 400,000m3 of alluvial materials annually with an average minimum daily production of 500m3 per day over any three-month period. It is anticipated that REXMA will have the project in production within 12 months of the signing of the Definitive Agreement.

The LOI is specific to the Marudi License area (approx. 55.77 sq. km’s or 13,774 acres) plus a 10 km area of influence, whereby any expansion of the project land area by REXMA becomes part of the Agreement, and will revert to Romanex upon termination of this Agreement. REXMA will be required to pay all costs related to acquiring and maintaining additional land holdings, if any.