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Shoreham Resources Ltd.: Shoreham Resources Ltd. Receives Approval of a $510,000 Non-Brokered Flow-Through Private Placement Fi

^{Published on 2009-01-21 07:37:30, Last Modified on 2009-01-21 07:38:02 - Market Wire}
 

LANGLEY, BRITISH COLUMBIA--(Marketwire - Jan. 21, 2009) - David A. Bending, President and CEO of Shoreham Resources Ltd. (TSX VENTURE:SMH), is pleased to announce that the Company has received approval from the TSX Venture Exchange for the $510,000 Non-Brokered Flow-Through Private Placement which was initially announced on December 18, 2008. The financing consists of the sale of 3,400,000 common shares of Shoreham Resources Ltd. at a price of $0.15 per share. There are no warrants attached to this financing. The company has reserved the right to apply 15% of the funds towards corporate and administration costs.

The Company will be using the funds generated from this financing to advance our uranium, molybdenum and silver projects in north-western Ontario.

Shoreham Resources is a Canadian based exploration company listed and trading on the TSX-V Exchange under the trading symbol "SMH" with molybdenum, silver and uranium targets in Canada and recent discoveries on our Black Banana and Marudi Mountain gold projects in Guyana.

David Bending, President and CEO of Shoreham Resources Ltd., states, "Shoreham is fortunate to have been able to attract this significant above market priced investment in our Company."

For further information please visit our website at [ www.shoreham.ca ] or our Investor Relations Hub at [ www.agoracom.com/IR/Shoreham ] where you can post questions and receive answers or review questions and answers already posted by other investors or contact our Investor Relations Representative, Mr. Mike Kachanovsky via email at [ mike@shoreham.ca ].

The TSX Venture Exchange has not reviewed and accepts no responsibility for the adequacy or accuracy of this news release.