Shear Minerals Ltd.

Shear Minerals Ltd.

January 15, 2010 11:44 ET

Shear Commences Drilling At Liege Diamond Project, Alberta

EDMONTON, ALBERTA--(Marketwire - Jan. 15, 2010) - Shear Minerals Ltd. (TSX VENTURE:SRM) announced today that winter exploration drilling on the Liege Diamond Project located in Northern Alberta has commenced.

In December 2009, Shear mobilized field crews to Northern Alberta to initiate access routes into the drill targets on the Liege East Property. Three initial priority targets have been selected for drill testing and are suggestive of kimberlite based on a high resolution airborne geophysical survey that was completed in 2006 and follow up ground geophysical surveying in 2007 and 2008.

The Liege Diamond Project was acquired from a Canadian oil and natural gas exploration, development and production company. Seven prominent pipe-like targets have been identified from seismic surveys and are suggestive of kimberlites. They were generated during exploration for oil and gas. The Liege Diamond Project consists of greater than 120,000 acres and is located 360 km north of Edmonton, Alberta. The project area lies 80km immediately east of the Buffalo Head Hills kimberlite cluster and is located along the projected trend of the Peace River Arch, a crustal structure potentially favorable for kimberlite emplacement. Shear holds an option to earn into an initial 51% interest in the Liege Diamond Project.

There are 48 known kimberlites in the Northern Alberta Kimberlite Province that include the 38 kimberlites discovered by Ashton Mining of Canada within the Buffalo Head Hills Field and 9 kimberlites in the Birch Mountains which are in close proximity to the Liege Diamond Project.

Shear's disclosure of a technical or scientific nature in this press release has been reviewed and approved by Pamela Strand, M.Sc., P. Geol., Shear's President, Qualified Person under the definition of National Instrument 43-101.

Shear is a Canadian-based exploration company focused on diamond exploration in the Canadian North, where it explores in established diamond districts and has discovered new ones. Shear currently has a portfolio of eight diamond projects, seven of which are drill-ready. Shear has advanced its flagship (62.3% ownership) Churchill Diamond Project from a conceptual idea to an expanding diamond district hosting 88 kimberlites in the Kivalliq region of Nunavut.

On behalf of the Board


Pamela Strand, P. Geol., President

This news release may contain forward looking statements, being statements which are not historical facts, including, without limitation, statements regarding potential mineralization, exploration results, resource or reserve estimates, anticipated production or results, sales, revenues, costs, "best-efforts" financings or discussions of future plans and objectives. There can be no assurance that such statements will prove accurate. Such statements are necessarily based upon a number of estimates and assumptions that are subject to numerous risks and uncertainties that could cause actual results and future events to differ materially from those anticipated or projected. Important factors that could cause actual results to differ materially from Shear's expectations are in its documents filed from time to time with the TSX Venture Exchange and provincial securities regulators, most of which are available at Shear disclaims any intention or obligation to revise or update such statements

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.

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