Ashton Mining of Canada Inc.
TSX : ACA

Ashton Mining of Canada Inc.

May 31, 2006 17:00 ET

Ashton Mining of Canada Inc.: Fourth Lynx Trench Sample Returns 98 cpht

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - May 31, 2006) - Ashton Mining of Canada Inc. (TSX:ACA) -

Cumulative 34.8 tonnes from four trench samples return 116 cpht

Robert T. Boyd, President and CEO of Ashton Mining of Canada Inc. ("Ashton" or the "Corporation"), is pleased to report an estimated diamond content of 98 carats per hundred tonnes ("cpht") for 2.98 tonnes of kimberlitic material collected from Trench 230-02 in the Lynx dyke system on the Foxtrot property in north-central Quebec. This is the final diamond result from the four trench samples collected along the Lynx system by Ashton and its 50:50 joint venture partner, SOQUEM INC. ("SOQUEM"), in the fall of 2005. The cumulative 34.8 tonnes of material processed from the four trenches has returned an estimated diamond content of 116 cpht.

The joint venture is very encouraged by the diamond content and drilling results from the Lynx dyke system to date. Of particular interest are the results from the Lynx South area, where the samples from trenches 221, 230-01 and 230-02 have returned an average diamond content of 134 cpht. As announced on April 26, 2006, drilling conducted by the joint venture this winter confirmed the continuity of the dyke system in the Lynx South area over one kilometre of strike length and 200 to 350 metres down-dip from its interpreted surface expression. Data from the 45 core holes drilled to date in this area and information from the three trenches suggest that the dyke has an average true thickness of 1.8 metres.

Trench 230-02 is located 220 metres north of the southernmost drill intersection of the dyke. The 2.98 tonne sample collected from the trench was processed by dense media separation ("DMS") at Ashton's North Vancouver laboratory. The sample returned 2.92 carats of diamonds, giving this material an estimated diamond content of 98 cpht. These results, together with results reported previously from samples of trench and boulder material, are presented in the table below.



Summary of DMS Diamond Results - Lynx Trench and Boulder Samples
--------------------------------------------------------------------
Weight
of
Weight Diamonds Estimated
of Recovered Largest Diamond
Location Date Sample (carats) Diamonds Content
of Sample Reported (tonnes) (Note 1) (carats) (cpht)
--------------------------------------------------------------------
Lynx South
--------------------------------------------------------------------
Trench 230-02 May 31, 2006 2.98 2.92 0.21 98
--------------------------------------------------------------------
Trench 230-01 March 1, 2006 12.7 14.6 1.16 114
--------------------------------------------------------------------
Trench 221 March 20, 2006 12.9 20.7 2.19, 0.82 160
--------------------------------------------------------------------
--------------------------------------------------------------------
28.6 38.2 134
--------------------------------------------------------------------
--------------------------------------------------------------------
Lynx:
Trench 184 March 20, 2006 6.2 2.2 0.49 36
--------------------------------------------------------------------
--------------------------------------------------------------------
Trench Total 34.8 40.4 116
--------------------------------------------------------------------
--------------------------------------------------------------------
Boulders March 22, 2005 14.2 19.1 5.66, 1.17, 135
0.96
--------------------------------------------------------------------
Note 1 - All diamonds recovered are larger than 1.18 mm using a
square mesh screen except for the diamonds from 3.87
tonnes of the boulder material. These diamonds were larger
than 0.85 mm using a square mesh screen.


The diamond content of the material processed to date may not be representative of the overall diamond content of the dyke system given the small size of the samples and the limited information presently available regarding the relative proportions of kimberlitic material and country rock.

Lynx Dyke System

Located two kilometres west of the Renard cluster of nine kimberlitic bodies, the Lynx dyke system is a 3.7 kilometre long zone of continuous or semi-continuous kimberlitic dykes oriented along a north-northwest strike. The system is open along strike to the north and south as well as at depth, and incorporates three different zones designated Lynx North, Lynx and Lynx South.

A map showing the trench sample and boulder collection sites, drill collar locations and interpreted thickness of the dyke is available on Ashton's website at: http://www.ashton.ca/projects_quebec_map_lynx_dyke_system.html.

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 diamond laboratory facilities in North Vancouver.

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 a Qualified Person pursuant to National Instrument 43-101. Mr. Clements is responsible for the design and conduct of the Corporation's exploration programs 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