Halo Announces West Red Lake Drill Results

Halo Resources Ltd. (TSX VENTURE:HLO)(FRANKFURT:HRLN) ("Halo", the "Company")
announces drilling results at the West Red Lake Project on the Pancake Bay
claims held in a 60:40 joint venture with Red Lake Gold Mines Partnership
("RLGM"), a partnership between Goldcorp Canada Ltd. and Goldcorp Inc.
(TSX:G)(NYSE:GG) ("Goldcorp") and the Bridget Lake claim, held in joint venture
with RLGM and AurCrest Gold Inc. ("AurCrest") (TSX VENTURE:AGO). 


The 2012 winter drilling program at Pancake Bay was cut short due to
unseasonably warm weather and only 1,675 m of a planned 2,400 m was completed. A
geophysical target was drilled and intersected two low grade gold zones over
significant widths of 11 m. Due to the abbreviated drill season the main
structural target at Pancake Bay remains untested.


At Bridget Lake, a cross-cutting structure in a banded iron formation ("BIF")
was drilled and intersected a 4 m zone grading 0.834 g/t Au. The drill hole is
in close proximity to high-grade gold bearing quartz veins exposed at surface.
The BIF is extensive with a known strike length of several kilometers. The
occurrence of elevated gold values throughout the BIF suggests that the Bridget
Lake area is prospective for high-grade gold hosted in cross-cutting structures.


Technical Highlights 

At Pancake Bay, 1.5 km west of Bridget Lake, a sinistral offset of roughly 150
meters is observed between one side of the bay and the other. This offset is
likely due to an apparent north-south fault that also appears to be coincident
with a geophysical anomaly. Five (5) stratigraphic holes were drilled for a
total of 1,295 m to establish the breadth and extent of the alteration suggested
by the geophysical anomaly. Additional planned holes were not completed due to
unexpected warm weather in March. 


A total of sixteen separate intervals of anomalous gold concentrations were
intersected in holes PB12-032, PB12-033 and PB12-035. These intervals include
two mineralized zones in hole PB12-032 of 11 m with composite gold grades of
0.20 to 0.24 g/t Au respectively. The anomalous gold grades at Pancake Bay are
encouraging and additional drilling to test the projected fault zone is planned.


In 2009 Halo intersected 7.1 g/t gold over 5.8 meters drilling from Bridget Lake
(Hole RL08-009) The drill collar is flanked by occurrences of visible gold
mineralization associated with narrow quartz veins exposed on the south and
north shores of Bridget Lake. Previous operators had identified a series of
high-grade gold veins west of the lake and Halo reported surface channel samples
with up to 161 g/t (4.7 ounces per ton gold) over 1.1 m length along a quartz
vein selvedge in the same area.


In February 2012, Halo completed two (2) diamond drill holes totaling 380 m west
of Bridget Lake. Hole B12-037 was drilled to intersect off-sets observed in
geophysical surveys below Bridget Lake. Mineralization was associated with
structures, disseminated pyrite and the one narrow occurrence of banded iron
formation ("BIF") within a package of sediments. Five samples, approximately
one-meter long, assayed between 0.335 to 0.948 g/t gold with an additional 4 m
zone at 117 m down-hole that assayed 0.834 g/t gold. 


BL12-038 was halted at 50 m due to an early thaw. The hole was intended to test
for additional north-south trending cross-cutting high-grade quartz veins
similar to those identified east of the hole at surface. At 27.3 m, an interval
of 5.8 m grading 0.404 g/t Au was intersected. The intersection is hosted by
sulphide iron formation in contact with dolostone and associated with
disseminated pyrite. A second interval of 1.77 m at 42 m down-hole, assayed
0.381 g/t gold.


The two zones of anomalous gold values encountered in BL12-038 warrant further
investigation as similar elevated gold values were associated with high-grade
gold values in quartz veins that occupy cross-cutting structures in the BIF.
Drilling has not proven to be the best method for intersecting these relatively
narrow zones of mineralization. Instead, mechanical trenching or stripping of
the banded iron formation in this area is recommended, followed by geological
mapping and channel sampling. The main objective of the proposed program will be
to determine if there are a sufficient density of gold-bearing quartz veins
intersecting the BIF to be of economic interest, and if additional veining will
return similar gold grades as those encountered from north-south trending quartz
veins identified by previous operators. The outcome of this program will
determine whether additional drilling, potentially at greater depths, is
warranted below Bridget Lake. 


Sawn half-drill core samples were submitted to the ALS, Thunder Bay sample
preparation facilities and analyses were performed at ALS Vancouver, an
internationally recognized and accredited facility. The entire sample was
crushed and a 1,000 g split was pulverized. Base metals and a suite of up to 30
trace elements were determined by inductively coupled plasma spectrometry (ICP)
after an aqua regia digestion and gold by standard fire assay with an ICP
instrumental finish on a 30 g charge. A quality control program consisting of
blanks and analytical control standards has been implemented to monitor
laboratory performance and no significant discrepancies are reported.


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 with base metal and gold assets. The
Sherridon VMS Property is a combination of mature and grassroots volcanogenic
massive sulphide (VMS) copper, zinc and gold exploration opportunities covering
over 20 square kilometers. A 2010 NI43-101 compliant copper-zinc resource, for
four of the known deposits in the district, included Indicated Resources of 6.5
million tonnes grading 0.85% copper and 1.22% zinc and Inferred Resources of
15.9 million tonnes grading 0.68% copper and 0.84 % zinc. HudBay holds options
on half of the Sherridon VMS Property to earn 51% and controls 19% of the
Company's shares. The Company has a joint venture interest in the Duport
Property, an advanced gold property near Kenora, Ontario and a 60:40 joint
venture partnership with Red Lake Gold Mines Partnership (RLGMP), a partnership
between Goldcorp Canada Ltd. and Goldcorp Inc. (TSX:G)(NYSE:GG) at West Red Lake
covering 4,400 hectares. 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.
Halo Resources Ltd. (TSXV:HLO)
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