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Shoreham Resources agreement for Five Star property

Shoreham Resources Ltd (C:SMH)
Shares Issued 69,234,798
Last Close 4/21/2010 $0.24
Thursday April 22 2010 - Property Agreement

The TSX Venture Exchange has accepted for expedited filing documentation pertaining to an option agreement dated Dec. 4, 2009, between Shoreham Resources Ltd. and Marcel Andrew Waaldijk, pursuant to which the company may acquire a 100-pe-cent interest in 11 medium-scale prospecting permits encompassing 11,848 acres located in northwestern Guyana, known as the Five Star property. In consideration the company will pay $30,000 (U.S.) and issue 200,000 shares in the first year.

The acquisition is subject to a 3-per-cent net smelter return royalty, of which the company can purchase for $1-million (U.S.), and a 5-per-cent alluvial mining royalty.