Kensington Resources Ltd.

Kensington Resources Ltd.

March 07, 2005 16:18 ET

Kensington Resources Ltd.: Largest Diamond to Date from Fort a la Corne Joint Venture-High Quality 10.53 Carat Diamond Recovered from Kimberlite 140/141


NEWS RELEASE TRANSMITTED BY CCNMatthews

FOR: KENSINGTON RESOURCES LTD.

TSX VENTURE SYMBOL: KRT

MARCH 7, 2005 - 16:18 ET

Kensington Resources Ltd.: Largest Diamond to Date
from Fort a la Corne Joint Venture-High Quality 10.53
Carat Diamond Recovered from Kimberlite 140/141

VICTORIA, BRITISH COLUMBIA--(CCNMatthews - March 7, 2005) - Kensington
Resources Ltd. (the "Company") (TSX VENTURE:KRT) is pleased to announce
the recovery of a large, clear, colourless, macrodiamond from samples
extracted from Kimberlite 140/141 that was drilled in the 2004
Evaluation Program.

A large diamond measuring approximately 1.4 x 1.0 x 0.75 cm was
recovered during diamond recovery procedures at the De Beers Group
Exploration Diamond Laboratory in Johannesburg, RSA. The colourless
stone is clear of significant inclusions and therefore appears to be of
high quality. Formal valuation of the stone will be conducted by De
Beers' experts as soon as possible. The 10.53 carat diamond was
recovered in large diameter drillhole 04-140-051 along with five other
macrodiamonds including a 1.32 carat stone from a sample covering depth
interval 118 to 130 metres, only 18 metres beneath the overlying glacial
overburden.

This sample is from the upper portion of the kimberlite breccia beds of
the southern, higher-grade unit of 140/141 which was targeted with five
large diameter drillholes designed to increase the level of confidence
in grade forecasts and to provide preliminary valuations for revenue
modeling by De Beers experts. Diamond recoveries for the remaining
samples in this drillhole will be reported as soon as the results are
received by the Company.

Robert McCallum, President of Kensington Resources Ltd., remarked, "We
have already seen significant evidence from minibulk sampling that
supports the presence of a large stone population in the 140/141
kimberlite, including a 10.23 carat stone recovered in the 2002 program.
Discovery of this 10.53 carat diamond, the largest stone yet recovered
by the Fort a la Corne Joint Venture, provides further support that the
large diamonds can be of high quality, as well."

Photographs of the 10.53 carat diamond and a map of the 140/141
kimberlite with drillhole placements are posted on the Kensington
Resources Ltd. website at www.kensington-resources.com.

Brent C. Jellicoe, P.Geo. is the Qualified Person for the Company and
has reviewed the technical information herein. All aspects of quality
assurance, quality control, and sample chain of custody for the Fort a
la Corne Joint Venture are managed by De Beers Canada Exploration Inc.,
the project operator.

Kensington Resources Ltd. is an exploration and mine development company
currently focused on the high potential Fort a la Corne Diamond Project
in Saskatchewan. The management team includes strong technical expertise
and is committed to reaching a diamond producer status for the
realization of shareholder value. The Fort a la Corne Diamond Project is
a joint venture among Kensington Resources Ltd. (42.245%), De Beers
Canada Inc. (42.245%), Cameco Corporation (5.51%) and UEM Inc. (carried
10%). After fifteen years of exploration at Fort a la Corne, the joint
venture partners are now entering into an accelerated results-driven
advanced exploration and evaluation phase targeted on reaching a
pre-feasibility decision in 2008. The Fort a la Corne Diamond Project
includes 63 identified kimberlite bodies within the largest
diamondiferous kimberlite cluster in the world.

Robert A. McCallum, President & CEO


FORM 20-F FILE #0-24980

LISTED IN STANDARD & POOR'S

-30-

Contact Information