SHOREHAM CLOSES PRIVATE PLACEMENT FINANCING

LANGLEY, CANADA, March 5, 2010 - Shoreham Resources Ltd. (the "Company" or "Shoreham") (TSX-V: "SMH"),

a Canadian exploration company dedicated to the exploration of advanced precious metal and polymetallic deposits in

Guyana and Canada, is pleased to announce that the Company has closed a non-brokered private placement

financing (the "Financing"), pursuant to which the Company has issued an aggregate of 3,525,500 units of the

Company (each a "Unit") at a price of $0.25 cents per Unit, to raise gross proceeds to the Company of $881,375. The

Financing closed on March 4, 2010 (the "Closing Date").

Each Unit is comprised of one common share of the Company (a "Share") and one-half of one common share

purchase warrant (each whole warrant a "Warrant"). Each whole Warrant is exercisable by the holder thereof to

purchase an additional Share at any time for a period of eighteen months following the Closing Date at an exercise

price of $0.40 cents per Share.

Commissions and finders' fees are payable in respect of the Financing to parties at arm's length to the Company,

consisting of aggregate cash finder's fees of $33,150 and finder warrants exercisable by the holders thereof to

purchase an aggregate of up to 69,600 Shares at an exercise price of $0.40 cents per Share at any time for a period

of one year following the Closing Date.

All securities issued in the Financing will be subject to a hold period expiring four months and one day following the

Closing Date.

David Bending, M.Sc., P.Geo., President and CEO of Shoreham Resources Ltd. is a Qualified Person as defined in

National Policy 43-101 ("NI 43-101"), and is responsible for and has reviewed all technical information contained in

this news release. Mr. Bending reports that: "The recent transactions in Guyana and this placement represent another

important milestone in growing Shoreham Resources Ltd. We are committed to developing the targets we have

identified in both Guyana and Northern Ontario. These funds will be utilized for generative programs, advancing our

exploration projects, and general and administrative needs."

For further information please visit our website at www.shoreham.ca or contact our President and CEO Mr. David A.

Bending at 604-533-9288.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture