Ashton Mining of Canada Inc.
TSX : ACA

Ashton Mining of Canada Inc.

October 13, 2005 19:42 ET

Ashton Mining of Canada Inc.: Summer Program Discovers Four Kimberlitic Dykes in Quebec

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - Oct. 13, 2005) - Ashton Mining of Canada Inc. (TSX:ACA) -

Minimum strike length of Hibou dyke now estimated at 850 metres

Robert T. Boyd, President and CEO of Ashton Mining of Canada Inc. ("Ashton" or "the Corporation") is pleased to report the discovery of four new kimberlitic dykes on the Foxtrot property in north-central Quebec. The bodies were discovered during the summer 2005 program conducted by Ashton and its joint venture partner, SOQUEM INC. Of particular interest is the dyke that was initially reported on September 14, 2005 and is now named Hibou. Subsequent drilling of this body has increased its strike length to 850 metres. Three other dykes were also discovered, including a dyke coincident with the North Anomaly that has a strike length of at least 225 metres.

During the summer program, the joint venture also collected mini-bulk samples from Hibou and the Lynx dyke system and expanded the potential of Renard 10 by further drilling and by the analysis of additional samples by caustic dissolution.

Hibou

As announced on September 14, Hibou is a dyke that is strategically located approximately 1.3 kilometres west of the Renard cluster and 900 metres east of the highly diamondiferous Lynx dyke system. Data from the 28 holes that have now been drilled at 15 sites along the dyke demonstrate that the body has a west-northwest strike length of at least 850 metres and an interpreted dip of 10 degrees to the north-northeast. The drill intersections indicate an average thickness of two metres, and a minimum down-dip extent of approximately 500 metres was determined along one section of drilling. The dyke is open down-dip and along strike to the west-northwest.

Two samples of surface boulders collected near the projected surface expression of the Hibou dyke were analyzed for diamonds by caustic dissolution analysis. The large number and favorable size distribution of the diamonds recovered from these samples are very encouraging. The data are comparable to the caustic dissolution results for the Lynx dyke and suggest the potential for Hibou to host a population of commercial-sized diamonds.

Caustic Dissolution Diamond Results for Boulder Samples Collected Near Hibou



--------------------------------------------------------------------
Number of Diamonds According to
Weight Sieve Size Fraction (mm)
of ------------------------------------------------------
Sample +0.100 +0.150 +0.212 +0.300 +0.425 +0.600 +0.850 +1.18
(kg) -0.150 -0.212 -0.300 -0.425 -0.600 -0.850 -1.18 -1.70 Total
--------------------------------------------------------------------
Date Reported: October 13, 2005
150 122 154 109 67 15 8 4 3 482
--------------------------------------------------------------------
Date Reported: August 11, 2005
100 94 81 51 39 7 3 3 1 279
--------------------------------------------------------------------
--------------------------------------------------------------------
Total:
250 216 235 160 106 22 11 7 4 761
--------------------------------------------------------------------


Hibou was exposed at surface by trenching, and a 10 tonne sample of kimberlitic material was collected for diamond analysis by dense media separation ("DMS"). Results are expected within several months.

The joint venture is encouraged by the progress made to date in defining Hibou's strike length, dip and down-dip potential. Also encouraging is the location of Hibou in relation to the Renard bodies, which are currently the subject of a review of potential mining scenarios. If Hibou is confirmed to be highly diamondiferous, this body will be further evaluated by drilling to determine its potential to enhance an economic evaluation of the Foxtrot property.

An aerial photo showing the drill sites, kimberlitic boulder sampling locations and trenching site is available on Ashton's website at www.ashton.ca/ projects_quebec_map_hibou_aerial_view.html.

North Anomaly Dyke

The North Anomaly is situated approximately five kilometres north of the Renard cluster. Till samples collected within the boundaries of the anomaly have returned six diamonds and indicator minerals, such as eclogitic pyrope garnets, that have favourable chemical characteristics.

Drilling at three sites within the anomaly resulted in the discovery of a kimberlitic dyke with an average drill thickness of 1.2 metres and a strike length of 225 metres. The dyke is interpreted to dip to the west at less than 15 degrees and is open down dip and along strike. A small sample of drill core will be analyzed for diamonds by caustic dissolution. The results are expected before year-end and will assist the joint venture in determining the extent of future work on this body.

Lynx Dyke Mini-Bulk Sample

During the summer 2005 program, the joint venture collected approximately 30 tonnes of kimberlitic material by trenching at three sites along the Lynx dyke system. This material will be analyzed for diamonds by DMS. The results of this work are expected within several months and will assist the joint venture in determining the next steps for Lynx. These initiatives could include extensive delineation drilling during the winter 2006 program to better determine the extent and tonnage potential of Lynx.

Renard 10

Renard 10 is located 1.8 kilometres north-northwest of Renard 2. Kimberlitic material was intersected in each of six holes drilled at this body during the summer 2005 program. Including the four holes drilled previously, intersections of kimberlitic material at Renard 10 now range from one to 15 metres in thickness. In light of the drilling data generated to date, Renard 10 is interpreted to be a north-northwest striking zone of kimberlitic dykes with associated country rock breccia that has a minimum strike length of 350 metres and a combined width of approximately 20 metres. The zone of kimberlitic dykes located between Renard 7 and Renard 10 that was reported on May 26, 2005 is now believed to constitute part of the Renard 10 system.

Two samples of drill core from the body have now been analyzed for diamonds by caustic dissolution analysis and the results are summarized in the table below. The data are encouraging and are comparable to the initial diamond results from several of the kimberlitic bodies situated within the Renard Core Area. An additional sample of approximately 200 kilograms of drill core collected this summer will be analyzed for diamonds by caustic dissolution. Results are expected within several months and will assist the joint venture in determining the next steps for this body.

Caustic Dissolution Diamond Results - Renard 10



--------------------------------------------------------------------
Number of Diamonds According to
Weight Sieve Size Fraction (mm)
of ------------------------------------------------------
Sample +0.100 +0.150 +0.212 +0.300 +0.425 +0.600 +0.850 +1.18
(kg) -0.150 -0.212 -0.300 -0.425 -0.600 -0.850 -1.18 -1.70 Total
--------------------------------------------------------------------
Date Reported: October 13, 2005
49.3 24 19 12 3 5 0 0 0 63
--------------------------------------------------------------------
Date Reported: June 9, 2004
187.8 30 11 11 5 4 1 1 1 64
--------------------------------------------------------------------
--------------------------------------------------------------------
Total:
237.1 54 30 23 8 9 1 1 1 127
--------------------------------------------------------------------


Other Dyke Discoveries

Multiple narrow intersections of kimberlitic dykes, each less than 0.6 metres thick, were detected by drilling five holes approximately 500 metres east of the Hibou dyke and 700 metres west of Renard 1. The relationship, if any, between these intersections and Hibou is uncertain at this time.

The joint venture also drilled two holes into a linear geophysical target with an associated indicator mineral anomaly situated approximately 20 kilometres northwest of the Renard cluster. A 20 centimetre kimberlitic dyke intersection was recorded in each of these holes.

Other Foxtrot Property Exploration

The summer program also included extensive indicator mineral sampling, ground geophysical surveys and the drilling of three additional targets in other areas of the Foxtrot property.

Ashton Mining of Canada Inc. and SOQUEM INC.

Ashton's prime objective is the discovery or acquisition of diamond prospects capable of rapid advancement to development and production. The Corporation is recognized as one of the leading explorers in the Canadian diamond industry. Ashton's competitive advantages include the significant exploration experience of its key personnel as well as its extensive in-house laboratory facilities in North Vancouver, dedicated exclusively to the Corporation's exploration projects.

SOQUEM INC. is a wholly owned subsidiary of the Societe generale de financement du Quebec ("SGF"). The mission of the SGF, an industrial and financial holding company, is to undertake economic development projects in the industrial sector in cooperation with partners and in compliance with the economic development policies of the Government of Quebec.

Ashton is the operator of the joint venture's exploration programs. Brooke Clements, Professional Geologist and Ashton's Vice President, Exploration is responsible for their design and conduct, and for the verification and quality assurance of analytical results.

Contact Information

  • Ashton Mining of Canada Inc.
    Robert T. Boyd
    President and CEO
    (604) 983-7750
    or
    Ashton Mining of Canada Inc.
    Mike Westerlund
    Manager, Investor Relations
    (604) 983-7750
    contact@ashton.ca
    www.ashton.ca