Ashton Mining of Canada Inc.
TSX : ACA

Ashton Mining of Canada Inc.

September 14, 2005 16:00 ET

Ashton Mining of Canada Inc.: New Discovery on Foxtrot Property in Quebec

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - Sept. 14, 2005) - Ashton Mining of Canada Inc. (TSX:ACA) -

Initial drilling indicates new dyke has an average thickness of 2.5 metres

Robert T. Boyd, President and CEO of Ashton Mining of Canada Inc. ("Ashton" or the "Corporation") is pleased to announce the discovery of a new kimberlitic dyke on the Foxtrot property in north-central Quebec.

The dyke is located approximately 1300 metres west of the Renard cluster and 900 metres east of the Lynx dyke system. It is situated near the interpreted source area of one of four occurrences of kimberlitic boulders that Ashton and its 50:50 joint venture partner, SOQUEM INC. ("SOQUEM") discovered on this part of the property during the summer 2005 program. As announced on August 11, caustic dissolution analysis of a 100 kg sample of boulder material recovered near the newly discovered dyke has shown this material to be highly diamondiferous.

Data from drilling at four sites along the dyke indicate that it has an approximate average thickness of 2.5 metres. The dyke has an interpreted west-northwest strike and north-northeast dip with a minimum strike length of 175 metres and remains open in all directions. Later this month, additional drilling will be carried out to determine potential extensions of the dyke and its true thickness. Before the end of the current program, the joint venture will also attempt to expose the dyke by trenching to facilitate the collection of kimberlitic material to determine its diamond content.

Foxtrot Property Exploration Update

The exploration drilling program on the Foxtrot property is continuing with the testing of additional targets in the interpreted source areas of the other three boulder occurrences located near the newly discovered dyke, as well as those associated with kimberlitic boulder occurrences elsewhere on the property.

Concurrent with the target drilling, a trenching program on the Lynx dyke system is in progress. The dyke has now been exposed at three locations and the collection of a 30 tonne mini-bulk sample is expected to commence shortly. A photo of the Lynx dyke exposed through trenching at Lynx South is available on Ashton's website at www.ashton.ca/projects_quebec_photo_gallery.html.

The summer drilling on the Renard cluster has been completed as planned, and an update on results update will be provided within the next few weeks.

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 is a wholly owned subsidiary of SGF Mineral inc., a 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.
    Brooke Clements
    Vice President, Exploration
    (604) 983-7750
    or
    Ashton Mining of Canada Inc.
    Mike Westerlund
    Manager, Investor Relations
    (604) 983-7750
    (604) 983-3591 (FAX)
    contact@ashton.ca
    www.ashton.ca