HLO Halo Resources Ltd.

Halo Resources Ltd. (TSX VENTURE:HLO)(FRANKFURT:HRLN) ("Halo" or the "Company")
and AurCrest Gold Inc. (TSX VENTURE:AGO) ("AurCrest") are pleased to announce
that further to its announcement dated October 27, 2008, the company has signed
a final joint venture agreement in respect of the Bridget Lake Property in the
prolific Red Lake area of Ontario.


Halo has acquired a 65% interest (from AurCrest) in the 9 claim units (144
hectares) situated in Ball Township, Red Lake Mining Division (the "Property").
The Property is adjacent to the Red Lake Gold Mines, Halo's West Red Lake joint
venture property owned 60% by Halo and 40% by Red Lake Gold Mines.


"The completion of earn-in and the joint venture agreement is another important
step in the consolidation of the West Red Lake area. Halo now has three joint
venture agreements that combined provide control of 4,394 hectares in an area
that has seen only fractured property ownership for the last 50 years. These
claims cover an area of approximately 9km by 5km with prospective geology that
ranges from nickel-bearing ultramafics to gold-bearing quartz veins", says Mr.
Cernovitch.


Halo will be operator of the joint venture and Red Lake Gold Mines (a
partnership of Goldcorp Inc. (TSX:G) and Goldcorp Canada Ltd.) has acquired a
40% interest in Halo's interest in the Property.


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 3,500 hectares. The Company is operated by an experienced management
team with a growth strategy to develop a diversified portfolio of advanced
mining projects.


About AurCrest Gold Inc.

AurCrest is a junior exploration company with over 70,000 acres of minerals
claims in the Red Lake Mining District.


ON BEHALF OF THE BOARD OF DIRECTORS

Marc Cernovitch, Chairman

Cautionary Note Regarding Forward-Looking Statements: This Press Release
contains forward-looking statements that involve risks and uncertainties, which
may cause actual results to differ materially from the statements made. When
used in this document, the words "may", "would", "could", "will", "intend",
"plan", "anticipate", "believe", "estimate", "expect" and similar expressions
are intended to identify forward-looking statements. Such statements reflect our
current views with respect to future events and are subject to such risks and
uncertainties. Many factors could cause our actual results to differ materially
from the statements made, including those factors discussed in filings made by
us with the Canadian securities regulatory authorities. Should one or more of
these risks and uncertainties, such actual results of current exploration
programs, the general risks associated with the mining industry, the price of
gold and other metals, currency and interest rate fluctuations, increased
competition and general economic and market factors, occur or should assumptions
underlying the forward looking statements prove incorrect, actual results may
vary materially from those described herein as intended, planned, anticipated,
or expected. We do not intend and do not assume any obligation to update these
forward-looking statements, except as required by law. Shareholders are
cautioned not to put undue reliance on such forward-looking statements.

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