Ashburton Ventures Inc.
TSX VENTURE : ABR
FRANKFURT : ARB

Ashburton Ventures Inc.

December 21, 2010 09:00 ET

Ashburton Welcomes Premier Gold Mines Executive VP and COO Stephen McGibbon to Technical Advisory Board

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Dec. 21, 2010) - ASHBURTON VENTURES INC. (TSX VENTURE:ABR) (FRANKFURT:ARB) ("Ashburton" or the "Company") is very pleased to welcome Mr. Stephen McGibbon, of Premier Gold Mines Ltd. (PG-TSX), to its Technical Advisory Board.

Stephen McGibbon, Premier's Executive Vice-President and Chief Operating Officer, is a Professional Geologist with over 27 years of exploration, mine production and management experience. He graduated from Queen's University at Kingston, in 1983 with a Bachelor of Science degree in Geological Sciences. Mr. McGibbon has established a very successful track record in gold exploration and development, being a senior member of the team at Goldcorp that discovered the "High Grade Zone" at Red Lake. The High Grade Zone is world renowned as the world's highest grade gold deposit and one of the most important gold discoveries made in the last 20 years. In his capacity as Chief Geologist and Exploration Manager, Stephen lead the talented team of geologists that helped transform the marginal, high-cost operation into an unparalleled mining success. He is a disciplined geologist and team-builder that helped foster a spirit of innovation at Premier Gold.

"I look forward to working with the Ashburton team in advancing the Deep Creek Project," stated Mr. McGibbon. "Premier is excited by the results-to-date on this early stage, potentially high grade property and are convinced the right ingredients exist to make 2011 a very rewarding exploration campaign."

Mike England, President of Ashburton stated, "We are delighted to have a geologist of Mr. McGibbon's calibre join our team. This is another positive development in the evolution of our Company. Mr. McGibbon's experience will be invaluable as we continue to explore our exciting Deep Creek Project. We look forward to working with him and the other key executives of Premier."

Ashburton has made several significant discoveries at Deep Creek including the Upper Vein that has been traced over a strike length of over 640 meters with surface sampling returning assays up to 1,180 g/t Au with width of up to over one meter widths in some areas. Additional undiscovered gold-bearing veins are also indicated by a float sample of vein material collected upslope of the Upper Vein, which assayed at 28.90 g/t gold. The Upper Vein area represents only 10% of the Deep Creek property, much of which has not been systematically explored since the early 1990's.

Further to the news release dated December 9, 2010 announcing a private placement, there will be a finder's fee of $2,000 payable in connection with the private placement by way of the issuance of 25,000 units to Canaccord Genuity Corp. The Company also announces it has granted stock options to directors, officers, employees and consultants of the Company to buy 1,600,000 shares, exercisable at a price of $0.18 per share for a period of five years from the date of grant. The options have been granted in accordance with the Company's stock option plan.

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.

Contact Information

  • Ashburton Ventures Inc.
    Michael England
    President
    (604) 683-3995