Halo Update for Sherridon VMS Property, Manitoba

Halo Resources Ltd. (TSX VENTURE:HLO)(FRANKFURT:HRLN) ("Halo" or the "Company")
announces that it intends to re-evaluate the aggregate mineral resource for the
Sherridon VMS Property, Manitoba to incorporate recent drill results provided to
Halo by HudBay Minerals Inc. ("HudBay") (TSX:HBM)(NYSE:HBM) (see Halo's press
release dated March 30, 2011). The 20,000 hectare Sherridon VMS Property
includes the Cold, Lost, Jungle and Bob copper-zinc deposits. 


In summary, the recent drilling at the Lost deposit included:



--  The results of 4 holes (HLL001, 002, 003 and 006), reported February 21,
    2011, extended the previously identified Lost mineralization northwards
    approximately 100 meters from the previously identified high grade
    envelope. These results included an 11.9 m intersection of 1.54% copper
    and 5.42% zinc in HLL003. 
--  Six infill holes (HLL016, 017, 004, 013, 014 and 005), confirmed the
    continuity of the copper-zinc mineralization within this 100 m strike
    extension zone. HLL016 reported 1.43% copper and 1.51% zinc over 12.07 m
    at a depth of approximately 75 m below surface. 
--  High grade gold and silver intersections were reported approximately 25
    meters north of the copper-zinc mineralized zone including 8.75 g/t gold
    and 46.39 g/t silver over 5.50 meters in Hole HLL013 that included 24.68
    g/t gold and 130.67 g/t silver over 1.35 meters and 3.60 g/t gold and
    98.62 g/t silver over 1.30 meters in Hole HLL014.  



HudBay had described the Lost deposit as a high-grade plunging feature over a
strike length of approximately 390 meters, and mineralization has now been
extended an additional 100 meters in strike length based on the recent drill
program. HudBay has indicated that a resource estimate was generated for the
Lost deposit based on 2010 drilling and an underground mining model that assumes
direct shipping to the Flin Flon mill. HudBay stated that it intends to prepare
a pre-feasibility study during 2011 to determine how the project fits with
HudBay's long term production plans. 


The resource estimate, shown in Table 1, was presented by HudBay in its March
31, 2011 news release. It does not include the 2011 results from an additional
1,794 meters of diamond drilling, equivalent to an increase of 30% in project
meterage since the end of 2010.




                                  Table 1                                   
----------------------------------------------------------------------------
Category              Tonnes    Au (g/t)    Ag (g/t)      Cu (%)      Zn (%)
----------------------------------------------------------------------------
Indicated            411,000        1.0        20.0         1.8         6.1 
Inferred              69,000        0.8        16.5         1.5         6.2 
----------------------------------------------------------------------------
                                                  
Notes:                                            

1.  CIM definitions were followed for the estimation of mineral resources.
    Includes drilling up to the end of 2010.
      
2.  Mineral resources are estimated at a ZNEQ cut-off of 4% (ZNEQ% equals
    Zn% + Cu% x 2.771 + Au g/t x 1.028 + Ag g/t x 0.015) and a minimum two
    metre core length.
      
3.  Long term $US metal prices of $900/oz gold, $15.00/oz silver, $2.50/lb
    copper and $1.00/lb zinc were used for the estimation of ZNEQ.
      
4.  Metal recovery assumptions of 65% gold, 57% silver, 92% copper and 83%
    zinc were used for the estimation of ZNEQ.
      
5.  Specific gravity measurements were taken on a portion of the samples,
    where actual measurements were not available average SG values were
    used. 



Mr. David Garofalo, President and CEO of HudBay, is quoted in HudBay's March 31
news release as saying, "The high grade and near surface deposit confirms our
belief that the Lost property has the potential to be a future source of feed
for our concentrator in Flin Flon." 


Halo included the Cold and Lost mineralization plus its 100% owned Jungle and
Bob deposits in the Sherridon VMS Property NI 43-101 compliant resource estimate
dated November 24, 2010. All the deposits are within a 5-kilomter radius and the
Halo mineral resources are estimated using net smelter return (NSR) assumptions
and both surface and underground mining methods.


Halo also completed a drill program in March on ground held 100% by Halo and
assays are pending. Halo is planning additional exploration work on selected
targets within the 20,000 hectare Sherridon VMS Property for the summer field
season (see following figure showing relationship of Cold-Lost earn-in area and
remaining ground held by Halo).


Background

An option agreement announced December 21, 2009 allows HudBay to earn up to a
67.5% joint venture interest in a 1.1 square kilometer area of the 200 square
kilometer Sherridon VMS Property in Manitoba (To see a map of the property,
please visit the following link: http://media3.marketwire.com/docs/hlo414.jpg).
HudBay made the required first-anniversary cash payment of $150,000 and
completed over $820,000 of expenditures as of January 2011. A total work
commitment of $1.35 million and additional $400,000 cash payment are required by
December 21, 2011 for the option to remain in good standing. HudBay also has
exercised its back-in rights for the Jungle deposit and must spend $2.025
million to earn a 51% interest.


The above information has been prepared under the supervision of Lynda Bloom,
P.Geo., who is designated as a "Qualified Person" with the ability and authority
to verify the authenticity and validity of the data.


ON BEHALF OF THE BOARD OF DIRECTORS 

Marc Cernovitch, Chairman

About Halo Resources Ltd.

Halo is a Canadian-based resource company focused on the acquisition of near
production base and precious base metal deposits. The Company's focus is the 200
sq. km. Sherridon VMS Property, a combination of mature and grassroots
volcanogenic massive sulphide (VMS) copper, zinc and gold exploration
opportunities. A 2008 NI43-101 compliant copper-zinc resource, for four of the
known deposits in the district, was completed in less than 18 months. The
Company has a joint venture interest in the Duport Property, an advanced gold
property near Kenora, Ontario and is the operator for contiguous joint venture
properties in WestRedLake covering 26 sq. km. The Company is operated by an
experienced management team with a growth strategy to develop a diversified
portfolio of advanced mining projects.


Forward Looking Statements

This Company Press Release may contain certain "forward-looking" statements and
information relating to the Company that are based on the beliefs of the
Company's management as well as assumptions made by and information currently
available to the Company's management. Such statements reflect the current
risks, uncertainties and assumptions related to certain factors including,
without limitations, competitive factors, general economic conditions, customer
relations, relationships with vendors and strategic partners, the interest rate
environment, governmental regulation and supervision, seasonality, technological
change, changes in industry practices, and one-time events. Should any one or
more of these risks or uncertainties materialize, or should any underlying
assumptions prove incorrect, actual results may vary materially from those
described herein.
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