Halo adds to Sherridon ground (April 03, 2006)

Halo Resources (HLO-V, HLOSF-O) has optioned three properties from HudBay Minerals (HBM-V, HBMFF-O) in the Sherridon area of northern Manitoba, bringing its land package there to 160 sq. km.

Under the deals, Halo can earn a 100% interest in HudBay claims and mineral leases that cover the Jungle and Park base metal deposits. The options have 3- to 5-year terms and oblige Halo to spend $30,000 on exploration in the first year of the option. HudBay 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 HudBay compiled using Anglo American’s (AAUK-Q) in-house Spectrem electromagnetic system. Halo plans more detailed helicopter-borne electromagnetic work in the area.