TORONTO, ONTARIO--(Marketwire - Aug. 19, 2008) - Lynda Bloom, President and CEO of Halo Resources Ltd. (TSX:HLO)(OTCBB:HLOSF)(FRANKFURT:HRL) is pleased to announce the results of a National Instrument 43-101 (NI43-101) compliant resource estimate of the Cold, Lost and Bob Lake copper-zinc deposits at its Sherridon VMS Property, Manitoba. The Technical Report was coauthored by Scott Wilson Roscoe Postle (Scott Wilson RPA) and Giroux Consultants Ltd. (GCL) for Halo to confirm the historical resource reported for the deposits. The resources estimated by GCL have been classified as Indicated and Inferred.

A NI43-101 compliant technical report, dated December 19, 2007 has previously been filed for the Jungle Lake deposit, also on the Sherridon VMS Property. Incorporating all four deposits, the total tonnage of 3,115,000 tonnes in the Indicated resource category has an overall grade of 1.00% copper, 0.97% zinc and precious metal credits. In addition, there are 9,937,000 tonnes in the Inferred resource category with an overall grade of 0.92% copper, 1.25% zinc and precious metal credits. The cut-off grades are calculated using copper, zinc, gold and silver values and are based on the Net Smelter Return ("NSR") assumptions included under Technical Highlights with different criteria used for the Jungle Lake deposit.

All of the deposits lie within a 4 km by 4 km area of the 200 sq km Sherridon VMS Property.

To view the accompanying map, please visit the following link: http://media3.marketwire.com/docs/HA...

The close proximity of the four deposits, in the vicinity of the town of Sherridon, a power line, road and railroad, provides a realistic framework for further economic evaluation of the deposits. The Park deposit, with historic resources of 6 Mt grading 0.4% copper and 2.2% zinc (see press release July 26, 2007), will be targeted for additional exploration, and is not included in the current resource estimate. All resources for the Park deposit are believed to be reliable but were calculated prior to the implementation of National Instrument 43-101. Halo and its Qualified Persons have not done sufficient work to reclassify the historical estimates as current mineral resources. Halo is not treating the historical estimates as current mineral resources and the historical estimates should not be relied upon for the Park deposit.

Both the Park and AKE mineralization are a reminder of the district potential.

Lynda Bloom, President & CEO, states "Within two years of stepping foot on the Sherridon VMS Property, Halo has delivered a significant copper-zinc resource and has defined a series of additional exploration targets within the district. The resource tonnage has doubled from the original historical estimates for the Bob, Cold and Jungle deposits and Lost Lake is a brand new discovery. The current resource calculations do not incorporate any of the recent drilling at Bob Lake, where thick intersections of massive sulphides were reported of up to 33 m of 1.1% copper and 0.9% zinc nor some of the near surface mineralized zones at Jungle Lake. We are confident that incorporating this additional drilling will further expand the resources at Sherridon and spur a scoping level economic evaluation later in the year."

The scoping level study will focus on developing the 70% of the inferred and indicated resources that lie close to the surface and may therefore be amenable to low cost open pit mining methods. New resource estimations are planned for Jungle and Bob Lake where an additional 10 holes drilled mid-2008 encountered mineralization and have not been included in the current models.

Technical Highlights

The data base for the resource estimation on the Bob, Cold and Lost deposits consisted of 97 drill holes in the Bob Zone, 54 drill holes in the Cold Zone and 18 drill holes in the Lost Zone. A total of 6,346 assays for Cu, Pb, Zn, Au and Ag were provided but not all assays were from holes within the three zones.

The mineralized massive sulphide lenses for each deposit were plotted on cross sections and three dimensional geologic models were produced based on drill hole intersects. The grade distributions for each metal were examined and appropriate capping levels were established. Uniform down hole composites 2 m in length were produced that honoured modeled mineralized zones. Intervals less than 1 m at the boundaries of the solids were combined with the adjoining sample to produce a uniform support of 2 +/- 1 m. Indicated Resources were estimated in the first two search passes using one quarter then one half of the variogram range. This represents a drill spacing of approximately 50 m to 60 m. Inferred Mineral Resources exist where larger searches were required. An estimation of grade was made by ordinary kriging on all blocks. In consideration of the possibility for two different mining methods being used, a potential open pit portion for each deposit was established using the Lersch-Grossman (LG) technique. The assumptions for the generating these LG pits were consistent with those used for the NSR calculations together with reasonable estimates for operating costs. Using the LG pits as a guideline, an elevation approximately 100 m below the surface was chosen for each deposit to differentiate potential open pit from underground resources.

A NSR cut-off value of US$20 was used for the open pit resources in the Bob, Cold, and Lost Lake deposits and a NSR cut-off value of US$45 was used to determine underground resources. The Jungle Lake resources were determined using cut-off values of US$20 and US$40 respectively for the open pit and underground portions of the deposit with the bottom of the pit lying approximately 100 m below surface.

The results of the resource estimate are as follows:

               -------------------------------------------------------------
                                       TOTAL INDICATED RESOURCES
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                              Grade greater
Deposit                        than Cutoff              Contained Metal
                       -----------------------------------------------------
            K Tonnes    Cu    Zn     Au     Ag      Cu    Zn     Au      Ag 
                        (%)   (%)  (G/T)  (g/t)   (Mlb) (Mlb)   (oz)    (oz)
----------------------------------------------------------------------------
Bob Lake
 Open Pit      1,090  0.79  0.73   0.07   1.71      19    18  2,500  59,900
Bob Lake
 Underground     340  1.21  1.36   0.20   5.37     9.1  10.2  2,200  58,700
Cold Lake
 Open Pit        270  0.74  1.34   0.38   9.02     4.4   8.0  3,300  78,300
Cold Lake
 Underground      90  1.08  2.84   0.49  12.54     2.1   5.6  1,400  36,300
Jungle Lake
 Open Pit(1)     830  0.99  0.73   0.39   6.70    18.1  13.4 10,400 179,000
Jungle Lake
 Underground(1)  495  1.46  1.06   0.52  11.43    15.9  11.6  8,300 182,000
----------------------------------------------------------------------------
Total
 Indicated     3,115  1.00  0.97   0.28   5.93      69    66 28,000 594,000
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                                      TOTAL INDICATED RESOURCES
----------------------------------------------------------------------------
                              Grade greater
Deposit                        than Cutoff             Contained Metal
                       -----------------------------------------------------
            K Tonnes   Cu   Zn    Au    Ag      Cu    Zn       Au        Ag
                       (%)  (%) (G/T) (g/t)   (Mlb) (Mlb)     (oz)      (oz)
----------------------------------------------------------------------------
Bob Lake
 Open Pit      2,260  0.7  0.5   0.1   1.5      35    23    5,000   109,000
Bob Lake
 Underground   2,140  1.2  1.1   0.2   6.5      55    52   17,000   450,000
Cold Lake
 Open Pit        960  0.7  1.2   0.3   8.5      14    25   10,000   262,000
Cold Lake 
 Undergound      230  0.9  2.1   0.4  11.4       5    11    3,000    84,000
Lost Lake
 Open Pit      2,070  0.9  2.7   0.5   8.9      39   124   36,000   591,000
Lost Lake
 Underground     100  0.9  2.7   0.8   9.7       2     6    2,000    31,000
Jungle Lake
 Open Pit(1)   1,347  0.9  0.6   0.4   6.2      25    18   18,000   270,000
Jungle Lake
 Under-
 ground(1)       830  1.3  0.8   0.4  10.8      23    14   10,000   288,000
----------------------------------------------------------------------------

----------------------------------------------------------------------------
Total
 Inferred      9,937  0.9  1.2   0.3   6.5     200   273  101,000 2,083,000
----------------------------------------------------------------------------

(1) Cut-off  NSR and depth from December 19, 2007 43-101 Technical Report
    and restated in Technical Highlights.

All quantities rounded to the nearest 1,000.  Totals may not add correctly
due to rounding

Copper, zinc silver and gold contribute to the economics of the deposit so that a Net Smelter Return value (NSR) was calculated for each block based on the estimated grades of copper, zinc, silver and gold, reasonable metal prices, the estimated recoveries for each metal and common industry values for smelter terms. The parameters used were as follows:

      --------------------------------------------------------------------
      --------------------------------------------------------------------
      Metal                 Price (US$)                  Mill Recovery (%)
      --------------------------------------------------------------------
      Copper                  $2.50/lb                               90 %
      Zinc                    $0.90/lb                               85 %
      --------------------------------------------------------------------
      --------------------------------------------------------------------


      --------------------------------------------------------------------
      --------------------------------------------------------------------
      Gold                     $800/oz                               65 %
      Silver                 $13.50/oz                               58 %
      --------------------------------------------------------------------
      --------------------------------------------------------------------

Parameters used to calculate the NSR for the Jungle Lake deposit, reported
 earlier, were:

      --------------------------------------------------------------------
      --------------------------------------------------------------------
      Metal                 Price (US$)                  Mill Recovery (%)
      --------------------------------------------------------------------
      Copper                  $2.00/lb                               85 %
      Zinc                    $0.75/lb                               85 %
      Gold                     $600/oz                               47 %
      Silver                  $8.50/oz                               54 %
      --------------------------------------------------------------------
      --------------------------------------------------------------------

Halo holds a 100% interest in the mineral rights to the Cold and Lost Lake deposits. Halo has the option to earn a 100% interest in the Jungle Lake deposit from Hudson Bay Exploration and Development Co. Ltd. through a series of cash and share payments and escalating work commitments as detailed in the option agreement. Halo also has the option to earn a 100% interest in the Bob Lake deposit from W. Bruce Dunlop Limited NPL.

The resource estimates reported in this press release were produced by Gary Giroux, P.Eng. MASc. a Qualified Person as defined by NI-43-101 who is responsible for the technical material contained in this news release. As required by NI 43-101 regulations, the resource estimate report will be filed on SEDAR within 45 days following the date of this press release.

About the Sherridon VMS Property

The Sherridon VMS Property covers an area of over 20,876 hectares and hosts the past-producing Sherridon Mine that was operated by Sherritt Gordon Mines from 1933 to 1950 and produced 7.7 million tonnes of ore grading 2.46%copper and 0.8% zinc. Results from an airborne geophysical survey completed in the summer of 2006 identified an additional 122 targets. The property is located only 70 km northeast of the mining and metallurgical complex in Flin Flon operated by HudBay Minerals Inc. (TSX:HBM). Future development of the property is facilitated by the presence of an all-weather road and railroad access as well as a power line and communications tower.

About Halo Resources Ltd.

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; Red Lake, which is a gold exploration project, and the Sherridon project that is a combination of mature and grassroots volcanogenic massive sulphide (VMS) copper, zinc and gold exploration opportunities. 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.

This news release presents "forward looking information" within the meaning of the applicable Canadian securities laws that involve inherent risks and uncertainties. Forward-looking information includes, but is not limited to, information with respect to the proposed private placement. Generally, forward-looking information can be identified by the use of forward-looking terminology such as "plans", "expects" or "does not expect", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate", or "believes", or variations of such words and phrases or state that certain actions, events or results "may", "could", "would", "might" or "will be taken", "occur" or "be achieved". Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of Halo to be materially different from those expressed or implied by such forward-looking information, including but not limited to: risks related to financings; risks related to the integration of acquisitions; risks related to joint venture operations; actual results of current exploration activities; actual results of current or future reclamation activities; conclusions of economic evaluations; changes in project parameters as plans continue to be refined; future prices of gold and other minerals and metals; possible variations in ore reserves, grade or recovery rates; failure of equipment or processes to operate as anticipated; accidents, labour disputes and other risks of the mining industry; and delays in obtaining governmental approvals or financing or in the completion of development or construction activities. Although the management and officers of Halo Resources Ltd. believe that the expectations reflected in such forward-looking information are based upon reasonable assumptions and have attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such information. Accordingly, readers should not place undue reliance on forward-looking information. Halo does not undertake to update any forward-looking information referenced herein, except in accordance with applicable securities laws. Trading in the securities of Halo Resources Ltd. should be considered highly speculative.

FOR FURTHER INFORMATION PLEASE CONTACT:

Halo Resources Ltd.
Lynda Bloom
President & CEO
(416) 368-7045 or Toll Free: 1-866-841-0068

Email: lbloom@halores.com



Halo Resources Ltd.
Marc Cernovitch
Chairman
(416) 368-7045 or Toll Free: 1-866-841-0068
(416) 368-9805 (FAX)

Website: www.halores.com

The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release.