This should get everyone talking, We will own the country pretty soon.

Shoreham to acquire 100% interest in Waaldijk

2010-04-20 09:07 ET - News Release

Mr. David Bending begin_of_the_skype_highlighting end_of_the_skype_highlighting reports

SHOREHAM OPTIONS WAALDIJK FIVE STAR GOLD PROPERTY

Shoreham Resources Ltd. has entered into a definitive option agreement with Marcel Andrew Waaldijk, pursuant to which the optionor has agreed to grant to the company an option to acquire a 100-per-cent interest in the Waaldijk five-star property in Guyana. The option agreement is subject to the approval of the TSX Venture Exchange.

The property abuts the five-star property acquired from Case Development Co. Ltd. on Aug. 15, 2009, and joint ventured to Mulgravian Ventures Corp. on Oct. 18, 2009. The Waaldijk five-star property is strategically located with two key claims surrounded by the existing Case Development five-star property while the other claims are contiguous to the eastern flank of the Case five-star and the Guiana Shield Whana property package, both of which the company has a 100-per-cent option to acquire. The property consists of 11 medium-scale prospecting permits that encompass an area of approximately 11,848 acres near Matthew's ridge in northwestern Guyana. Shoreham will be including this recently acquired property into the Shoreham Resources Ltd./Mulgravian Ventures Corp. joint venture on the Case five-star property, and will have the initial cash payments ($30,000) under this new agreement covered by Mulgravian.

To exercise the option and acquire a 100-per-cent interest in the property, the company is required to pay to the optionor an aggregate of $30,000 (U.S.) and issue to the optionor a total of 200,000 common shares in the capital of the company as follows:

1. Shoreham must pay to the optionor $10,000 (U.S.) on the execution of the option agreement (completed);
2. Within 30 days of the approval of the option agreement by the TSX Venture Exchange, Shoreham must issue to the optionor 200,000 common shares of the company and pay to the optionor the additional sum of $20,000 (U.S.).

Pursuant to the option agreement, the property is subject to a 3 per cent net smelter returns royalty granted to the optionor. The company may at any time reduce the NSR royalty to 0 per cent by making a cash payment of $250,000 (U.S.) for each of the first and second percentage points of the NSR royalty and $500,000 (U.S.) for the remaining 1 per cent, for a cumulative payment amount of $1-million (U.S.) to the optionor. There are no expenditure commitments included in the option agreement; however, the company is required to maintain the property in good standing with the Guyana Geology and Mines Commission.

David Bending begin_of_the_skype_highlighting end_of_the_skype_highlighting, MSc, PGeo, president and chief executive officer of Shoreham Resources, reports: "Our agreement with Mr. Waaldijk consolidates the priority targets defined by our work in the Whana five-star area. While the property has significant value to the Mulgravian five-star joint venture, it does not represent a change in priority for Shoreham."