TORONTO, ONTARIO--(Marketwire - June 2, 2008) - Shoreham Resources Ltd. (TSX VENTURE:SMH) ("Shoreham") is pleased to announce the execution of an agreement with Midas Rex Inc. as operator, through which production of alluvial diamonds, gold and platinum from its Maple Creek - Potaro Project under option in Guyana, South America will soon be underway. Midas Rex Inc. is a Guyanese corporation managed by knowledgeable and experienced Canadian placer miners.

Under the terms of the Agreement, Shoreham will receive 20% in kind of all mineral products produced or 20% of the gross proceeds realized from the sale of all production from Midas Rex's alluvial mining activities. Shoreham and Midas Rex will jointly pay for the cost of repairing Shoreham's on-site equipment, which will be leased to Midas Rex at commercial hourly rates. Midas Rex must maintain a minimum average production rate of 100 cubic metres per day but plans to maintain significantly higher rates of production on completion of a test mining program which commences June 2008.

The Maple Creek - Potaro Licenses are well known as a historical alluvial source of large high quality diamonds as well as gold and the palladium - rich mineral potarite. Shoreham will be required to pay underlying royalties to Infinito Gold Ltd. (formerly known as Vanessa Ventures Inc.), with whom Shoreham holds the option to purchase the property, and the local property vendors from the 20% gross production royalty Shoreham will receive from Midas Rex. Shoreham will continue exploration on the project land and concentrate its efforts on gold exploration in the laterite profile and underlying bedrock, which remain the exclusive right of Shoreham. The Midas Rex Agreement, which has an effective date of June 1, 2008, will provide Shoreham with income from production royalties and equipment leasing, cooperative maintenance of operating heavy equipment, subsidize costs for camp operations, office overheads, maintenance and land holding costs. The information provided by the ongoing mining activities will be beneficial in providing Shoreham with bedrock exposure in areas presently covered by alluvium.

David Bending, President and CEO of Shoreham Resources Ltd., states that "Shoreham now has two (2) separate contracts in place whereby third parties will fund and manage alluvial mining activities on both of our Guyana properties and thereby help offset overhead and camp operating expenses as well as provide Shoreham with royalty revenue which will be used to support Shoreham's ongoing exploration activities. We are hopeful that sufficient cash flow will be realized from the alluvial mining to fund our exploration campaign on the Marudi Project while minimizing dilution from public funding. We are very encouraged by the gold values recently encountered in our laterite and bedrock gold exploration program at the Marudi Project and will dedicate our corporate efforts to the exploration and development of the targets identified. We are pleased to be working with both Midas Rex on the Potaro Project and Rexma on the Marudi Project as previously News Release 2008-05 on April 16, 2008".

Shoreham Resources is a Canadian based exploration company listed and trading on the TSX-V exchange under the trading symbol "SMH", and is dedicated to exploration and advancement of precious metal and polymetallic deposits in South America and Canada.

FOR FURTHER INFORMATION PLEASE CONTACT:

Shoreham Resources Ltd.
David A. Bending
President & CEO
(416) 867-1101
(416) 867-1222 (FAX)
Email: dabending@cs.com
Website: www.shoreham.ca

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