Lynda Bloom, President and CEO of Halo Resources Ltd. ("Halo", "the Company")
(TSX VENTURE:HLO)(FRANKFURT:HRL) is pleased to announce that the National
Instrument 43-101 (NI43-101) compliant Technical Report ("Report"), documenting
the resource estimate for the Cold, Lost and Bob Lake copper-zinc deposits at
the Sherridon VMS Property, Manitoba, has been filed on SEDAR. The Technical
Report was coauthored by Steve McConnell (V.P. Exploration, Halo), Scott Wilson
Roscoe Postle (Scott Wilson RPA) and Giroux Consultants Ltd. (GCL).


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. The methodology used to generate the resource
estimate is summarized in the Halo August 19, 2008 press release. All of the
deposits lie within a 4 km by 4 km area of the 200 sq km Sherridon VMS Property
which also incorporates the Jungle Lake deposit (Technical Report filed December
19, 2007).


There are 3,115,000 tonnes in the Indicated resource category with 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
0.9% copper, 1.2% 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.


Some 70% of the inferred and indicated resources lie within approximately 100 m
of the surface and may therefore be amenable to low cost open pit mining
methods. As open pit mining costs are less than half the cost of underground
mining costs, and with much lower capital costs, the resources classified as
Open Pit in the following table adds significantly to the positive economics of
the Sherridon project. 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 resources are expected to expand due to a combination of factors including

a) the current resource calculations do not incorporate mineralized
intersections from drill holes DH08-98 to DH08-129;


b) thick intersections of massive sulphides at Bob Lake, up to 33 m of 1.1%
copper and 0.9% zinc are not included in the resource model;


c) near surface mineralized zones at Jungle Lake, which expand the deposit near
surface, are not incorporated in the resource model;


d) the resource models do not extrapolate mineralized zones to surface which
will be incorporated when low cost topographic surveys are completed;


e) a bedrock sample assaying 5.1% zinc and 0.48% copper expanded the potential
strike of the Lost Lake deposit north towards the Cold Lake deposit; the most
northerly drill core intersection currently at Lost Lake of 1.3% copper and 7.8%
zinc over 6.3m is the highest grade and thickness reported to date on the
Sherridon VMS Property (see press release March 18, 2008); and


f) additional high-priority exploration targets based on strong VTEM and
magnetic anomalies, combined with field investigations in 2007-2008 and strong
geochemical alteration signatures.


A scoping level study will commence later this year when preliminary
metallurgical test work is completed and drilling of high priority targets is
anticipated in early 2009.


Technical Highlights

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.


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 %
-----------------------------------------



The results of the resource estimate are as follows:



--------------------------------------------------------------------------
                                TOTAL INDICATED RESOURCES
--------------------------------------------------------------------------
                               Grade greater
                                 than Cutoff               Contained Metal
                        --------------------------------------------------
                        Cu    Zn    Au    Ag    Cu    Zn      Au        Ag
Deposit     K Tonnes    (%)   (%) (g/t) (g/t) (Mlb) (Mlb)    (oz)      (oz)
--------------------------------------------------------------------------
Bob Lake
 Open Pit      1,090  0.79  0.73  0.07  1.71  19.0  17.5   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
--------------------------------------------------------------------------
                                TOTAL INFERRED RESOURCES
--------------------------------------------------------------------------
                               Grade greater
                                 than Cutoff               Contained Metal
                        --------------------------------------------------
                        Cu    Zn    Au    Ag    Cu    Zn      Au        Ag
Deposit     K Tonnes    (%)   (%) (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
 Underground     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
 Underground(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.



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 NI43-101 who is
responsible for the technical material contained in this news release.


The above information has been prepared under the supervision of Stephen
MacConnell, who is designated as a "Qualified Person" with the ability and
authority to verify the authenticity and validity of the data.


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. 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.


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.