Halo adds to Sherridon ground (March 23, 2006)

Halo Resources (HLO-V, HLOSF-O) has optioned three properties from Hudson Bay Exploration and Development in the Sherridon area of northwestern Manitoba, bringing its land package there to 160 sq. km.

Under the deals Halo can earn a 100% interest in Hudson Bay claims and mineral leases that cover the Jungle and Park base-metal deposits. The options have three- to five-year terms and oblige Halo to spend $30,000 on exploration in the first year of the option. Hudson Bay gets $30,000 cash and a $70,000 payment in cash or shares in the first year.

A separate agreement gives Halo access to regional geophysical data Hudson Bay compiled using its in-house Spectrem electromagnetic system. Halo plans more detailed helicopter-borne electromagnetic work in the area.