Shoreham to issue shares to RPT for Bear Head project

2010-06-21 09:26 ET - News Release

Mr. David Bending begin_of_the_skype_highlighting end_of_the_skype_highlighting reports

SHOREHAM RECEIVES EXCHANGE APPROVAL TO ISSUE SHARES AS OPTION PAYMENT

Shoreham Resources Ltd. entered into an arrangement on May 7, 2010, with RPT Resources Ltd, formerly RPT Uranium Corp., whereby a $20,000 option payment due to RPT will be paid in common shares of Shoreham. The option payment is due to RPT in connection with the company's option to acquire a 70-per-cent working interest in the Bear Head Lake uranium property, as disclosed in Stockwatch March 27, 2007.

Based on the closing price of the company's common shares on Friday, May 7, 2010, 87,000 common shares will be issued to RPT at a price of 23 cents per share as the option payment. This share issuance has received the approval of the TSX Venture Exchange.