Ashton Mining of Canada Inc.
TSX : ACA

Ashton Mining of Canada Inc.

March 20, 2006 17:00 ET

Ashton Mining of Canada Inc.: Second and Third Lynx Trench Samples Return 120 cpht

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - March 20, 2006) - Robert T. Boyd, President and CEO of Ashton Mining of Canada Inc. (TSX:ACA) ("Ashton" or the "Corporation") is pleased to report an estimated diamond content of 120 carats per hundred tonnes ("cpht") for 19.1 tonnes of kimberlitic material collected from the Lynx dyke system on the Foxtrot property in north-central Quebec. Ashton and its 50:50 joint venture partner, SOQUEM INC. ("SOQUEM"), collected this material from Trench 184 and Trench 221, two of four trenches excavated along the Lynx system in 2005. The cumulative 31.8 tonnes of material processed thus far from three of the four trenches has returned an estimated diamond content of 118 cpht.

Like the diamond results reported in March 2005 from kimberlitic boulders collected along the Lynx system, the results from the trench material are very encouraging. Of particular interest are the samples from Trench 221 and 230-01. These trenches, located within the Lynx South portion of the system, have returned samples with a diamond content of 160 cpht and 114 cpht, respectively. The joint venture intends to conduct a 20 core hole drilling program at Lynx South during the current winter/spring field season with the goal of identifying continuous zones of kimberlitic material that have the potential to host substantial quantities of diamonds.

Summary of Trench and Boulder Results

The samples from Trenches 184 and 221 weighed 6.2 and 12.9 tonnes, respectively, and were processed by dense media separation ("DMS") at Ashton's North Vancouver laboratory. The results from these samples, together with results reported previously from Trench 230-1 and Lynx boulder material, are presented in the table below.



Lynx Trench and Boulder DMS Diamond Results
--------------------------------------------------------------------
Weight
of
Weight Diamonds Estimated
of Recovered Diamond Largest
Sample (carats) Content Diamonds
Sample Date Reported (tonnes) (Note 1) (cpht) (carats)
--------------------------------------------------------------------
Trench 184 March 20, 2006 6.2 2.2 36 0.49
--------------------------------------------------------------------
Trench 221 March 20, 2006 12.9 20.7 160 2.19, 0.82
--------------------------------------------------------------------
Sub-total 19.1 22.9 120
--------------------------------------------------------------------
Trench
230-01 March 1, 2006 12.7 14.6 114 1.16
--------------------------------------------------------------------
Total 31.8 37.5 118
--------------------------------------------------------------------
Boulders March 22, 2005 14.2 19.1 135 5.66, 1.17,
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 of the 14.2
tonnes of boulders. These diamonds were larger than 0.85 mm using a
square mesh screen.


Trench 184

The dyke exposed at Trench 184 has a true width of approximately 0.4 metres and is interpreted to dip to the east-northeast at approximately 30 degrees. The 6.2 tonne sample of kimberlitic material from this trench returned an estimated diamond content of 36 cpht, including a 0.49 carat clear tetrahexahedroidal diamond.

Trench 221

The area exposed at Trench 221 consists of a zone of kimberlitic dykes with an estimated cumulative true width of 1.7 m including the entrained country rock. The cumulative width of kimberlitic material is approximately 1.1 m, with the thickest individual dyke measuring 0.7 m. At this location, the dyke system is interpreted to dip to the east-northeast at approximately 20 degrees.

The 12.9 tonne sample from Trench 221 was divided into two sub-samples weighing 11.2 and 1.7 tonnes. The first sub-sample, consisting solely of kimberlitic material, returned an estimated diamond content of 182 cpht including a 2.19 carat brown irregular shaped crystal. The second sub-sample, comprised of approximately 25 percent kimberlitic material and 75 percent country rock, returned an estimated diamond content of 23 cpht.

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 sample size and the limited information available regarding the relative proportions of kimberlitic material and country rock.

The three tonne sample collected from Trench 230-02 will be shipped to Ashton's North Vancouver laboratory shortly, for analysis by DMS. Results are expected in the second quarter.

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 that is 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.

As reported on March 1, 2006, the four trench sites are situated at distances of 100, 220, 920 and 1800 metres, respectively, north of the southernmost drill intersection of the dyke. Trenches 230-01, 230-02 and 221 are located in Lynx South and Trench 184 is located in the Lynx zone of the system.

A map showing the trench sample sites and boulder collection sites is available on Ashton's website at http://www.ashton.ca/projects_quebec_map_lynx_dyke_system.html. Photos of Lynx trenches can be viewed at http://www.ashton.ca/projects_quebec_photo_gallery.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