Shoreham Resources Ltd. Receives Conditional Approval of a $1,100,000 Private Placement Financing

TORONTO, ONTARIO–(EMWNews – Aug. 20, 2008) – David A. Bending, President and CEO of Shoreham Resources Ltd. (TSX VENTURE:SMH) is pleased to announce that the Company has received conditional approval from the TSX Venture Exchange for a $1,100,000 non-brokered private placement which replaces our initially announced private placement from April 21, 2008 as News Release 2008-08. Note that each unit consists of one common share and one full purchase warrant as follows:

Maximum number of common shares conditionally
 approved to be issued                                            5,500,000
Maximum number of warrants conditionally
 approved to be issued                                            5,500,000
Cost per unit (share and warrant) as conditionally
 approved                                                             $0.20
Total amount of funds to be raised from sale of units            $1,100,000

Exercise price of warrants as conditionally approved                  $0.35
Warrant period as conditionally approved (see below)              18-months

The warrants have an exercise provision which allows Shoreham to news release an earlier expiry date for the warrants of 30 days from the news release date if the shares have traded for $0.55 or more for 20 consecutive trading days.

To date, the Company has received and accepted $623,700 in share subscriptions for 3,118,500 units on terms and conditions as noted above. Insiders have subscribed for $175,700 or 878,500 units of this initial amount sold. The remainder of the $1,100,000 of units available will continue to be marketed and sold during the next 3-4 weeks or until the maximum number of units are sold. To qualified individuals, the Company will pay a finder’s fee / broker fee of either 10% in common shares of the Company or 8% in cash. Final acceptance of this private placement is subject to filing of the final documentation with the Exchange by October 3, 2008.

The Company has 39,552,300 common shares issued and outstanding prior to this News Release. All proceeds from this private placement will be used for on-going working capital requirements, including the funding of the Company’s exploration activities in Canada and Guyana.

The TSX Venture Exchange has not reviewed nor accepted responsibility for the adequacy or accuracy of the contents of this news release.