2009-12-30 12:48 ET - News Release

Mr. David Bending reports

SHOREHAM ACQUIRING AND FUNDING SARDINE HILL GOLD PROSPECT

Shoreham Resources Ltd. is proceeding with a letter of intent pursuant to which it has the right to acquire a 100-per-cent interest in Mariwa Mining Company Inc., a Guyanese company which has applied for a prospecting licence over the 10,880-acre Sardine Hill-Mariwa property in Guyana. The Sardine Hill licence was approved for processing by the Guyanese authorities on Dec. 28, 2009. The obligations of the parties under the Sardine Hill letter of intent remain subject to confirmation by the vendors of Mariwa Mining that the vendors will clear the property of any small-scale conflicting mineral claims at the vendors' expense. It is anticipated that this condition will be removed in the near future upon the execution of a definitive agreement which will replace and supersede the Sardine Hill LOI. Pursuant to the terms of the Sardine Hill LOI, in order to acquire a 100-per-cent interest in Mariwa Mining, the company is required to pay to the vendors a total of $1-million (U.S.) and issue to the vendors a total of 1.5 million common shares of the company. The company will also pay a total of $250,000 (U.S.) for exploration data and files from work programs dating back to 1993, and undertake a consulting agreement with the former project manager of the property. The property is subject to a 3-per-cent net smelter return (NSR) royalty payable to the vendors, with 100 per cent of the royalty subject to purchase by the company.