Sheltered Oak Resources Corp. Reports Encouraging Preliminary Assay Results
on Phase 5 Drilling Program at Kerrs Gold Property

Trading Symbol: TSX-V OAK

TORONTO, Oct. 5 /CNW/ - Sheltered Oak Resources Corp. (TSXV: OAK) today announced gold assay results from its Phase 5 drilling program at the Kerrs Gold Property located on the western shore of Lake Abitibi, northeast of Matheson, Ontario. To date, fifteen drill holes have been completed totaling 5,944 metres on Kerrs.

The Phase 5 program was designed to complete in-fill drilling of the Kerrs quartz carbonate breccia deposit from sections 600N to 1500N. The prime objective of this program is directed to the completion of a NI 43-101 compliant resource estimation.

JJ Elkin, President and CEO, commented, "The historical exploration work conducted by Noranda (from 1986 to 1988) and the recent exploration programs conducted by Sage Gold Inc (from 2006 to 2007), followed by Sheltered Oak 's work in the past three years will provide what we need to declare a NI 43-101 gold resource based on five drill program phases. We are looking forward to the first inferred resource estimation on the Kerrs Deposit to be released to the public during the fourth quarter of this year."

Drill holes K-10-33,-34, -39, -50, -41, -42, and -43 were positioned at 100 m intervals from section 600N to section 1100N to test the down-dip strike extent under Bell Lake.

Drill holes K-10-30, -31, -32, -32A, -35, -36, -37 and -38 were positioned at 100m intervals, between drill section fences from section 1200N to section 1600N.

While assay results for holes K - 34, 41, 35, 36, 37 and 38 are pending, encouraging results are noted in holes as follows:

K-10-42 on section 900N which returned 3.84 g/t over 6.5m (380.1m to 387.6m) including a 2m interval grading 7.34 g/t;

    
    On section 1100N, hole K-10-39 returned 2.10 g/t over 2m (390m to 392m);
    On section 1300N, hole K-10-30 returned 3.01 g/t over 2m (410m to 412m);
    On section 1300N, hole K-10-32 returned 3.23 g/t over 1.5m (358m to
    359.5m).
    

A 3D geological model defined by 27 holes, illustrates that the quartz carbonate breccias deposit is strata bound occurring at the contact of a thick mafic pillow flow sequence overlying an ultramafic, magnetic flow sequence. Also, quartz feldspar porphyry sills are located above and below the breccia zones. This stratigraphy is draped on a shallow dipping synclinal fold structure trending in a northeasterly direction towards Abitibi Lake.

The phase 5 drilling campaign has confirmed that the gold enrichment occurs in thicker pyritic quartz vein breccias zones conforming to a trough structure developed along the fold axis over a 700m length. Gold mineralization occurs as pyritized quartz vein breccias enveloped by quartz fuchsite carbonate vein breccias and alteration envelopes varying in thickness from 6m to 40m.

The phase 5 diamond drilling program involving geological core logging, sampling and assaying tasks was supervised by Peter Hubacheck, P.Geo. No.1059 (APGO) on behalf of Hubacheck Consulting Geologists (HCG), affiliated with W.A. Hubacheck Consultants Ltd. Peter Hubacheck is a qualified person as defined by NI 43-101 and has reviewed and authorized the geotechnical material in this press release. QA/QC protocols for this program is available in prior press releases on Sheltered Oak's website.

There are 71,075,235 issued and outstanding common shares of Sheltered Oak Resources Corp.

This release was prepared by management of the Company who takes full responsibility for its contents. The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this news release.

Some statements contained in this release are forward-looking and, therefore, involve uncertainties or risks that could cause actual results to differ materially. Such forward-looking statements include comments regarding mining and milling operations, mineral resource statements and exploration program performance. Factors that could cause actual results to differ materially include metal price volatility, economic and political events affecting metal supply and demand, fluctuations in mineralization grade, geological, technical, mining or processing problems, exploration programs and future results of exploration programs, future profitability and production. The Company disclaims any obligation to update forward-looking statements unless required by law.

For further information: Sheltered Oak Resources Corp., J.J Elkin, President and CEO, (E) [email protected]; Sheltered Oak Resources Corp., Art Hampson, Chief Financial Officer, (T)905 827 5414, (F)905 847 9575, (E)[email protected]; CHF Investor Relations, Jeanny So, Director of Operations, (T)416 868 1079 ext. 225, (F)416 868 6198, (E)[email protected]; CHF Investor Relations, Chris Haldane, Account Manager, (T)416 868 1079 ext. 237, (F)416 868 6198, (E)[email protected]