Shear Minerals Ltd.
TSX VENTURE : SRM

Shear Minerals Ltd.
Stornoway Diamond Corporation
TSX : SWY

Stornoway Diamond Corporation
International Samuel Exploration Corp.
TSX VENTURE : SAZ

International Samuel Exploration Corp.

September 22, 2005 14:23 ET

Geophysical Program Underway on Churchill West Diamond Project

CALGARY, ALBERTA--(CCNMatthews - Sept. 22, 2005) - Shear Minerals Ltd. (TSX VENTURE:SRM), Stornoway Diamond Corporation (TSX:SWY), BHP Billiton Diamonds Inc. and International Samuel Exploration Corp. (TSX VENTURE:SAZ) ("Samuel") announce today that a $300,000 high resolution airborne geophysical survey is underway at the Churchill West Diamond Property.

A detailed 3,658 line km magnetic-electromagnetic airborne geophysical survey has commenced at the Churchill West Property that is intended to follow up indicator mineral chemistry of interest in the southeastern region of the property. The area of interest will be flown at 100 meter line spacing. At present a total of 98 isolated magnetic targets suggestive of kimberlite have been picked from magnetic data acquired during a fixed wing aeromagnetic survey conducted in 2002. The current survey will provide a high resolution dataset to more accurately rank these targets plus identify any new targets in preparation for a comprehensive 2006 follow-up program. The current program will include the provision for on-site quality control and interpretation of the data by independent consultant Kit Campbell, P. Geoph. of Intrepid Geophysics, Vancouver B.C.

In addition Samuel has elected not to participate for its portion of the 2005 program expenditure and as a result will have its percentage ownership diluted accordingly. At the conclusion of this program Samuel's ownership is projected to be 47% and Shear, Stornoway and BHP Billiton will have a 27%, 18.5% and 7.5% interest respectively. Shear has assumed operatorship of the Churchill West Diamond Joint Venture.

The Churchill West project encompasses 514,000 acres located near the community of Rankin Inlet in the Kivalliq region of Nunavut, contiguous to the Churchill Diamond Project. In 2003 two kimberlites were discovered on the Churchill West property. The 2005 Churchill West field program is under the supervision of Jennifer Burgess, P.Geol., a qualified person under NI 43-101.



On behalf of the Board
SHEAR MINERALS LTD.
/s/ "Pamela Strand"
Pamela Strand, P. Geol.
President

On behalf of the Board
STORNOWAY DIAMOND CORPORATION
/s/ "Eira Thomas"
Eira Thomas
President


This news release may contain forward looking statements, being statements which are not historical facts, including, without limitation, statements regarding potential mineralization, exploration results, resource or reserve estimates, anticipated production or results, sales, revenues, costs, "best-efforts" financings or discussions of future plans and objectives. There can be no assurance that such statements will prove accurate. Such statements are necessarily based upon a number of estimates and assumptions that are subject to numerous risks and uncertainties that could cause actual results and future events to differ materially from those anticipated or projected. Important factors that could cause actual results to differ materially from either of the Companies' expectations are in Company documents filed from time to time with the TSX or the TSX Venture Exchange and provincial securities regulators, most of which are available at www.sedar.com. The Companies disclaim any intention or obligation to revise or update such statements.

The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.

Contact Information

  • Shear Minerals Ltd.
    Pamela Strand, P. Geol.
    President
    (780) 435-0045 or 1-866-298-9695
    (780) 989-0322 (FAX)
    Website: www.shearminerals.com
    or
    Stornoway Diamond Corporation
    Eira Thomas
    President
    (604) 331-2271 or 1-888-338-2200
    (604) 689-5041 (FAX)
    www.stornowaydiamonds.com
    or
    International Samuel Exploration Corp.
    Mike Sieb
    President
    (604) 331-2263