Shear Minerals Ltd.

Shear Minerals Ltd.

November 30, 2007 10:30 ET

Shear Minerals Ltd.: Sakari Project Update

EDMONTON, ALBERTA--(Marketwire - Nov. 30, 2007) -


Shear Minerals Ltd. (TSX VENTURE:SRM) and Diamonds North Resources (TSX VENTURE:DDN) today announced completion of the 2007 exploration program at the Sakari Project, Nunavut that has confirmed 10 priority geophysical kimberlite targets.

The partners completed 1,930 line kilometers of high resolution magnetic airborne surveying over the property in late August, 2007. Due to the late completion date of the survey, only 30% of the geophysical data has been reviewed in a cursory fashion. From this review, 10 targets have been selected for follow-up exploration in 2008. The airborne survey was flown at 100 metre line spacing by Universal Wing Geophysics Corp. Final interpretation and drill target selection of the entire dataset will be completed over the next few months in preparation for the 2008 season.

Prior to the end of the exploration season, one target selected from preliminary unleveled geophysical data was ground surveyed and subsequently drill tested using a lightweight reverse circulation drill. No kimberlite was intersected.

This program was part of an approved $185,000 exploration program for 2007. The Sakari project is located in the Franklin Kimberlite District of Nunavut adjacent to the Darby property where nine kimberlites have been discovered to date. Shear Minerals Ltd. has earned a 50% interest in the Sakari property and Diamonds North is the project operator.

G. Gill (P. Geo) and B. Kienlen (P. Geol) are Diamonds North's Qualified Persons as defined under NI 43-101 responsible for project design and data review on this project. Ms. Pamela Strand, P. Geol. is the Shear Minerals Qualified Person as defined under NI 43-101 and will be responsible for data review by Shear Minerals on this project.

Shear Corporate Update

Shear is pleased to announce the appointment of Greg Hayes, CA, as Chief Financial Officer following the resignation of Norman Eaton. Shear would like to thank Mr. Eaton for his contribution to the Company and wish him the best of luck in his future endeavors.

Mr. Hayes, a Chartered Accountant since 1997, brings considerable experience to the position from both the public and private sectors. Working with international and Alberta-based accounting firms, Mr. Hayes has served clients ranging from small, private businesses to multinational corporations and government. He has also held the position of Controller at a publicly listed software company and for a private manufacturer. Most recently, he has provided consulting services to several junior mining exploration companies, and is currently the CFO for Firestone Ventures Ltd., a TSXV listed company.

Shear Minerals Ltd. is a Canadian-based exploration company focused on diamond exploration in the Canadian North where it explores in established diamond districts and has discovered new ones. Shear currently has a portfolio of eleven diamond projects, seven of which are drill-ready. The Company has advanced its 58.14%-owned Churchill Diamond property in Nunavut from a conceptual grassroots project to a new kimberlite district hosting over 70 kimberlites.

On behalf of the Board


Pamela Strand, P. Geol., President

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
    (780) 435-0045 or Toll Free: 1-866-298-9695