Halo Relinquishes Interest in Duport Property

Halo Resources Ltd. (TSX VENTURE:HLO)(FRANKFURT:HRLN) ("Halo" or the "Company")
wishes to advise that it has received notification from Hays Lake Gold Inc.
("Hays Lake") terminating its option to earn a further 24% interest (for a total
75% interest) in the Duport Property, located near Kenora, Ontario.


As a result of this decision by Hays Lake to terminate its option, the Company
has determined to relinquish its entire interest in the Duport Property to
Sheridan. The Company expects to record a pre-tax write-down of approximately
$4.0 million, net of the $8.0 million redeemable preferred shares. 


The Company originally acquired a 100% interest in the Duport Property in
February 2005 from the Sheridan Platinum Group ("Sheridan"). As partial
consideration the Company had issued $8.0 million in redeemable preferred shares
which were to be redeemed no later than November 1, 2012. In October 2008 the
Company entered into an option agreement with Hays Lake whereby Hays Lake had
subsequently earned its 51% interest in the Duport Property.


ON BEHALF OF THE BOARD OF DIRECTORS

Marc Cernovitch, President & CEO

About Halo Resources Ltd.

Halo is a Canadian-based resource company with base metal and gold assets. The
Sherridon VMS Property is a combination of mature and grassroots volcanogenic
massive sulphide (VMS) copper, zinc and gold exploration opportunities covering
over 20 square kilometers. A 2010 NI43-101 compliant copper-zinc resource, for
four of the known deposits in the district, included Indicated Resources of 6.5
million tonnes grading 0.85% copper and 1.22% zinc and Inferred Resources of
15.9 million tonnes grading 0.68% copper and 0.84 % zinc. HudBay holds options
on half of the Sherridon VMS Property to earn 51% and controls 19% of the
Company's shares. The Company has a 60:40 joint venture partnership with Red
Lake Gold Mines Partnership (RLGMP), a partnership between Goldcorp Canada Ltd.
and Goldcorp Inc. (TSX:G)(NYSE:GG) at West Red Lake covering 4,400 hectares. 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.