FOR IMMEDIATE RELEASE
Langley, British Columbia

TSX.V
Symbol: SMH
Shares Outstanding: 65,609,298

Shareholder Update

LANGLEY, CANADA, May 18, 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, has prepared, for the benefit of shareholders and the investment community, a progress report concerning ongoing programs in Ontario and Guyana.

ONTARIO: Favourable Lake District, Borland Lake and Bearhead Trend

1.       Shoreham completed two diamond drillholes and part of a third hole in a ten hole program in March, 2010. The program was designed to use the results of Titan-24 deep penetrating geophysical surveys, integrated with a compilation of the results from previous work. The program was modified in early March due to deteriorating ice conditions, with low priority targets tested in holes 1 and 2 and modified land based sites selected for testing of the priority silver-polymetallic targets. Hole 3 was terminated about 100 meters short of its target intercept depth due to unseasonably warm weather and unprecedented loss of ice road access. The drill remains on site and the program will resume this month with re-activation of the camp and mobilization of the drill crew. The core was logged in detail and sampled to test the potential for Platinum Group Metals in the dominantly ultramafic rock types intersected. The assays are still pending.

2.       The previously known silver � rich targets were the focus of the ice � based drillholes which were re-scheduled for the spring drilling campaign. The company has completed a compilation of all previous drilling and the continuing work will address the geometry of the known mineralized bodies, potential expansion and potential repeats by folding of the silver � polymetallic mineralized zones.

3.       The remaining holes will be completed from land based sites using the equipment on site.

4.       Shoreham completed an airborne geophysics program using high resolution helicopter based magnetic and EM surveys to provide an integrated database covering the Bearhead Trend, Setting Net and Twinpeaka properties. Further field work, including follow up and expansion of systematic geochemical sampling of the U-REE-Mo targets of the Bearhead Trend, will commence in May as part of the resumption of field work in the area.

GUYANA: CAMP INSTALLATIONS, TRENCHING AND DRILLING PROGRAMS

1.       Shoreham, acting as the operator of the Mulgravian Joint Ventures, has installed and staffed camp facilities in the Sardine Hill and Whana Project areas and is proceeding with systematic field work (prospecting and geochemical sampling) in the Arawini, Aunama and Whana Project Areas. Approximately thirty persons are involved with field and support functions of these activities.

2.       The company has commenced systematic trenching and mechanized auger drilling in the Whana/ Five Stars project area, based on well defined geochemical targets and associated artisanal mining activity in preparation for RC or diamond drill testing as results are evaluated. The selection of RC or diamond drilling will be based on final contract terms and local logistical considerations as drill sites and drillhole orientations are finalized. Approximately ten persons are involved with field and support functions of these activities, and the team will increase with completion of final access roads and commencement of drilling as results warrant.

3.       The REXMA alluvial production plan has been delayed by environmental permitting and the details of duty free import of production equipment but will proceed according to the original plan, subject to those delays. REXMA and Shoreham have been working diligently through this process since January 2010 and are pleased to see this important transition at hand.

David Bending, M.Sc., P. Geo., President and CEO of Shoreham Resources Ltd. reports that: �we are busy with advancing the core projects of the company, with active programs in Canada and Guyana including drilling and other exploration in Canada, trenching and preparation for surface mining in Guyana, and plans for systematic drill tests of the gold targets in the Whana/ Five Star Area of Guyana. We have confidence based on the quality of our projects and strong precious metals prices.�

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 Exchange) accepts responsibility for the adequacy or accuracy of this release.

FORWARD LOOKING STATEMENTS
This release contains �forward-looking statements� within the meaning of applicable Canadian securities legislation, including predictions, projections and forecasts. Forward-looking statements include, but are not limited to, statements that address activities, events or developments that the Company expects or anticipates will or may occur in the future, including such things as future business strategy, competitive strengths, goals, expansion, growth of the Company�s businesses, operations, plans and with respect to exploration results, the timing and success of exploration activities generally, permitting time lines, government regulation of exploration and mining operations, environmental risks, title disputes or claims, limitations on insurance coverage, timing and possible outcome of any pending litigation and timing and results of future resource estimates or future economic studies.

Often, but not always, forward-looking statements can be identified by the use of words such as �plans�, �planning�, �planned�, �expects� or �looking forward�, �does not expect�, �continues�, �scheduled�, �estimates�, �forecasts�, �intends�, �potential�, �anticipates�, �does not anticipate�, or �belief�, or describes a �goal�, or variation of such words and phrases or state that certain actions, events or results �may�, �could�, �would�, �might� or �will� be taken, occur or be achieved.

Forward-looking statements are based on a number of material factors and assumptions, including, the result of drilling and exploration activities, that contracted parties provide goods and/or services on the agreed timeframes, that equipment necessary for exploration is available as scheduled and does not incur unforeseen break downs, that no labour shortages or delays are incurred, that plant and equipment function as specified, that no unusual geological or technical problems occur, and that laboratory and other related services are available and perform as contracted. Forward-looking statements involve known and unknown risks, future events, conditions, uncertainties and other factors which may cause the actual results, performance or achievements to be materially different from any future results, prediction, projection, forecast, performance or achievements expressed or implied by the forward-looking statements. Such factors include, among others, the interpretation and actual results of current exploration activities; changes in project parameters as plans continue to be refined; future prices of gold and other minerals; possible variations in grade or recovery rates; failure of equipment or processes to operate as anticipated; the failure of contracted parties to perform; labour disputes and other risks of the mining industry; delays in obtaining governmental approvals or financing or in the completion of exploration, as well as those factors disclosed in the company's publicly filed documents. Although both companies have attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking statements, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements.