Ashburton Ventures Inc.
TSX VENTURE : ABR
FRANKFURT : ARB

Ashburton Ventures Inc.

October 14, 2010 08:00 ET

Ashburton Announces up to 1,180 g/t Gold from Ongoing Upper Vein Rock Samples at Deep Creek, Nevada

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Oct. 14, 2010) - ASHBURTON VENTURES INC. (TSX VENTURE:ABR)(FRANKFURT:ARB) ("Ashburton" or the "Company") announces further results from samples taken along the Upper Vein area of its Deep Creek Project (see PR dated October 5, 2010) located 112 kilometres north of Elko, Nevada. The latest bulk grab samples on the Upper Vein have produced results of up to 1,180 g/t gold as seen in the table below. In addition to samples taken along the main vein, a 1.5 m channel sample of the McCoy Creek Group of country rock perpendicular to the Upper Vein returned a value of 10.8 g/t gold.

During the course of this latest field program it has been determined that the Upper Vein extends beyond the previously reported 400 meters (1,300 feet) by approximately 240 meters (800 feet) further south for a total of approximately 640 meters (2,100 feet). In addition, quartz vein float samples from above the Upper Vein have also been found to be bearing visible gold and indicate that rather than being a single vein, the Upper Vein area of Deep Creek is actually a stockwork of veins found in a zone of limonitic quartz stockwork and breccias hosted in the Precambrian McCoy Group metasediments.

A team of Company geologists have also completed an additional round of bedrock sampling along the Upper Vein area of Deep Creek. Bedrock samples were collected as composite chips over an area measuring from 0.45 meters (1.5 feet) to 0.91 meters (3 feet) in length and 0.15 feet (0.5 feet) to 0.30 meters (1 foot) in width along lines spaced approximately 20 meters (65 feet) apart. The sample lines, perpendicular to the strike of the upper vein, covered a distance of approx 80 meters to the north of the outcrop which marks the start of the Upper Vein.

Results are pending.

Additional ground has now been staked.

In addition to gold values, a random check for silver on one sample yielded 828 g/t Ag which has now lead the Company to begin a re-assaying program on previous samples for further evaluation of potential silver content.

Latest round of assays from the Upper Vein include these highlights to date:

  • 1,180 g/t gold and 828 g/t silver from a 2.37 kilogram vein chip sample
  • 355 g/t gold from a 1.04 kilogram vein chip sample
  • 16.75 g/t gold from a 0.97 kilogram vein chip sample

A summary of bulk grab samples plus one channel sample reported to date is provided below:

Metres From Southern Outcrop Sample Weight, kg Au content, g/t Sample Description
0 1.04 355 vein chip sample, with visible gold
0 2.54 10.8 1.5 m channel sample of country rock perpendicular to above sample
9 1.78 1,180 vein chip sample on a splay 12 metres east of the Upper Vein
30 3.19 56.3 vein chip sample, with visible gold
34 2.37 94.3 vein chip sample, with visible gold
49 3.01 7.03 vein chip sample, no visible gold
52 2.47 9.79 vein chip sample, no visible gold
55 2.35 2.91 vein chip sample, no visible gold
70 2.10 40.1 rock chip material, with no visible gold
405 0.97 16.75 vein chip sample, with visible gold

Further sampling of the Upper Vein area is underway. Investors should note that sampling in the Upper Vein area has been undertaken with care to collect unbiased representative samples, but samples containing coarse gold should be considered to have an inherent nugget effect.

President Mike England states, "These recent samples further demonstrate the significant potential of the Upper Vein area and how it could greatly enhance what we already have in the Range Front Structure."

The Range Front Structure

The Range Front Structure is located roughly 450 meters west of the Upper Vein. Drilling on the Range Front Structure will be better guided in phase 2 once all the new data obtained in a deal from Newmont Mining Corp (see PR dated Sept 7, 2010) has been sufficiently analyzed. At that time the Company will undertake to confirm historical drilling in which a historical resource of 70,000 ounces of gold in 1.1 million tons, and a historical reserve of 477,000 ounces in 7.5 million tons was estimated. Both the reserve and resource estimates are historical, and a qualified person has not done sufficient work to classify either the historical reserve or the historical resource estimate as current mineral resources, therefore these historical reserves should not be relied on and do not have currently demonstrated economic viability.

A location map is attached showing the rough location of the Upper Vein area in relation to the Range Front Structure (To view the location map, please visit the following link: http://media3.marketwire.com/docs/DeepCreekMap.jpg). All rock and drill core samples are being prepared and analyzed for gold by ALS Chemex Laboratories, North Vancouver, British Columbia, using the fire assay protocols AU-AA24, Au-AA25, and Au-GRA22 that provide detection ranges of 0.005-10, 0.01-100 and 0.05-1000 ppm gold, respectively.

The technical contents of this release were approved by Ashburton director and qualified person as defined by National Instrument 43-101, Dr. Tom McCandless, P.Geo.

Ashburton Ventures is a junior exploration company actively seeking mineral opportunities for the benefit of all its stakeholders. For more information visit the Company's website located at www.ashburtonventures.com.

ON BEHALF OF THE BOARD

Michael England, President

Forward-Looking Statement:

Some statements in this news release contain forward-looking information that involves inherent risk and uncertainty affecting the business of Ashburton Ventures Inc. Actual results may differ materially from those currently anticipated in 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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