Shear Minerals Ltd.
TSX VENTURE : SRM

Shear Minerals Ltd.

November 15, 2007 18:11 ET

Shear Minerals Ltd.: Expiry of Warrants Extended

EDMONTON, ALBERTA--(Marketwire - Nov. 15, 2007) -

NOT FOR DISTRIBUTION IN THE UNITED STATES OR THROUGH U.S. NEWSWIRE SERVICES

Shear Minerals Ltd. ("Shear") (TSX VENTURE:SRM) today announced that the TSX Venture Exchange has approved a 6 month extension to the expiry date of warrants ("Warrants") to acquire an aggregate of 589,250 common shares of Shear ("Common Shares") at an exercise price of $0.80 per Common Share, which were issued on May 19, 2006 pursuant to a private placement. The Warrants, which were to have expired on November 19, 2007, will now expire on May 19, 2008.

The expiry date of warrants issued to finders in connection with the private placement, with an exercise price of $0.65 per Common Share, will not be extended and will expire on November 19, 2007 if not exercised by that date.

Shear Minerals Ltd. 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 eleven diamond projects, seven of which are drill-ready. The Company has advanced its 58.14%-owned Churchill Diamond property in Nunavut from a conceptual grassroots project to a new kimberlite district hosting over 70 kimberlites.

On behalf of the Board

SHEAR MINERALS LTD.

Pamela Strand, P. Geol., President

The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.

Contact Information

  • Shear Minerals Ltd.
    Pamela Strand
    President
    (780) 435-0045 or Toll Free: 1-866-298-9695
    Website: www.shearminerals.com