Ashton Mining of Canada Inc.
TSX : ACA

Ashton Mining of Canada Inc.

January 05, 2007 16:03 ET

Ashton Reminds Shareholders of Deadline to Elect Cash Consideration Under Stornoway Amalgamation Agreement

Documents available electronically on Ashton and SEDAR websites

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - Jan. 5, 2007) - Ashton Mining of Canada Inc. (the "Corporation" or "Ashton") (TSX:ACA) reminds its shareholders of the approaching deadline to make the "Cash Consideration Election" offered under the proposed amalgamation of Ashton and a wholly owned subsidiary of Stornoway Diamond Corporation ("Stornoway") that the Corporation announced on December 18, 2006. Full details of the amalgamation are provided in the Notice of Meeting and Information Circular for the Special Meeting of Shareholders to be held on Monday, January 15, 2007 that the Corporation has mailed to all shareholders.

Registered Shareholders

Registered shareholders who wish to receive the cash consideration offered under the amalgamation must submit a validly completed Consideration Election and Transmittal Form, together with all required documents, not later than 5:00 p.m. (Eastern Standard Time) on Thursday, January 11, 2007. The Consideration Election and Transmittal Form was included with the Information Circular mailed to all registered shareholders.

Beneficial (Unregistered) Shareholders

Shareholders who hold their Ashton shares beneficially through a broker or other intermediary will not receive a Consideration Election and Transmittal Form. As stated in the Information Circular, these shareholders should immediately advise their respective intermediaries if they wish to receive the cash consideration offered under the amalgamation. They should also submit, before any applicable deadline, any documents that the intermediary may require.

Failure to Act Deemed a Share Consideration Election

Registered shareholders who fail to submit a validly completed Consideration Election and Transmittal Form by the January 11 deadline and beneficial (unregistered) shareholders who fail to instruct their respective intermediaries will be deemed to have made the Share Consideration Election described in the Information Circular.

Copies of Documents and Further Information

The Notice of Meeting and Information Circular and the Consideration Election and Transmittal Form are available on Ashton's website at www.ashton.ca/investor_amalgamation_circular.html and under Ashton's profile on the SEDAR website at www.sedar.com.

This news release is not an offer of Stornoway shares or any other securities for sale in the United States. The Stornoway shares to be issued pursuant to the amalgamation described herein have not been, and will not be, registered under the United States Securities Act of 1933 or any state securities laws, and may not be resold in the United States absent registration or an applicable exemption from registration requirements.

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