Sheltered Oak Resources Corp. - Proposed Private Placement

Trading Symbol: TSXV - OAK

OAKVILLE, ON, Aug. 18 /CNW/ - Further to the price reservation filed with the TSX Venture Exchange on May 12, 2010, the TSX Venture Exchange has granted an extension to Sheltered Oak Resources Corp. to complete the second tranche of the previously announced private placement at the reserved price on or before September 16, 2010.

ABOUT SHELTERED OAK RESOURCES CORP.

Sheltered Oak Resources Corp. is a British Columbia corporation with its head office located in Oakville, Ontario. OAK is focused on mineral exploration opportunities within Canada and owns a 100% interest in 42 mining claims including one mining lease totaling 4,672 hectares which comprise the Kerrs Gold Property, located in the prolific area of the Abitibi Greenstone Belt in northeastern Ontario. The Kerrs Gold Property is highly prospective in a region with a long and active mining history.

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 news release contains certain information that constitutes forward-looking statements such as the completion of the Private Placement. Forward-looking statements are frequently characterized by words such as "plan," "expect," "project," "intend," "believe," "anticipate" and other similar words, or statements that certain events or conditions "may" or "will" occur. Forward-looking statements are based on the opinions and estimates of management at the date the statements are made, and are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those projected in the forward-looking statements. The Company disclaims any obligation to update or revise any forward-looking statements if circumstances or management's estimates or opinions should change. The reader is cautioned not to place undue reliance on forward-looking statements.

For further information: Sheltered Oak Resources Corp., Art Hampson, Chief Financial Officer, Phone: [phone], Fax: [phone], Email: [email protected]