Shear Minerals Ltd.
TSX VENTURE : SRM

Shear Minerals Ltd.

February 20, 2008 09:00 ET

Shear Reports Additional Diamonds From Kahuna

EDMONTON, ALBERTA--(Marketwire - Feb. 20, 2008) - Shear Minerals Ltd. (TSX VENTURE:SRM) and Stornoway Diamond Corporation (TSX:SWY) today announced additional macro and micro diamond recoveries from the 2007 drilling of the Kahuna Kimberlite dyke at the Churchill Diamond project in Nunavut.

In 2007 at Kahuna, 30 drill-holes from 18 set-ups totaling 2,333m were drilled along a 4.5km strike length of the kimberlite dyke to provide a better understanding of its size and geometry. A total of 142m of kimberlite was intersected, with single intercepts ranging from 1.0m to 11.8m down-hole. Based on these intercepts the Kahuna kimberlite is a vertical dyke averaging 2.6m in true width. Drill core samples totaling 206.3 kg were processed and 1,071 diamonds, including 99 macro diamonds, were recovered. Results are listed below:



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Total Sample 0.150 0.212m 0.300 0.425 0.600 0.850 1.180 1.700 Total
Kahuna Weight mm m mm mm mm mm mm mm
Drilling (kg) Sieve Sieve Sieve Sieve Sieve Sieve Sieve Sieve
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Kahuna 206.3 444 291 205 80 34 13 3 1 1,071
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In addition, samples were collected from each of the three mini bulk sample pits for micro diamond modeling. A total of 288.5 kg was processed with 1,619 diamonds, including 215 macro diamonds, being recovered. Results are listed below:



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Sample Sample 0.150 0.212 0.300 0.425 0.600 0.850 1.180 1.700 Macros Total
Number Weight mm mm mm mm mm mm mm mm
(kg) Sieve Sieve Sieve Sieve Sieve Sieve Sieve Sieve
----------------------------------------------------------------------------
Kahuna 1 106.1 236 172 119 54 20 2 4 0 80 607
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Kahuna 2 83.65 244 162 96 28 18 10 2 0 58 560
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Kahuna 3 98.75 167 131 76 43 25 5 4 1 77 452
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Total
from
Pits 288.5 647 465 291 125 63 17 10 1 215 1,619
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All samples were submitted to the Saskatchewan Research Council Geoanalytical Laboratories ("SRC") accredited to the ISO/IEC 17025 standard by the Standards Council of Canada as a testing laboratory for diamond analysis using caustic fusion.

"We have consistently recovered high diamond counts from both drilling and sample pitting along strike, confirming the homogeneous nature of the Kahuna dyke," says Shear President and CEO Pamela Strand. "These results will be used in conjunction with all the other data sets to assist us in an overall interpretation of the Kahuna kimberlite."

All diamonds are being categorized by Mineral Services Canada in Vancouver in order to assess the population. A final report is pending.

The Churchill Diamond Project is owned 58.14% by Shear and 41.86% by Stornoway and is comprised of the diamond rights to more than two million acres located near the communities of Rankin Inlet and Chesterfield Inlet in the Kivalliq region of Nunavut. Work is presently focused on continued exploration of new promising indicator mineral trains and geophysical anomalies as well as the evaluation of a system of significantly diamond-bearing, vertically-emplaced kimberlite dykes that have returned sample grades of up to 2.18 carats per tonne. Pamela Strand (P.Geol.) and Jennifer Burgess (P.Geol.) are Shear's qualified persons reviewing the project and have reviewed the content of this news release. The 2008 field program is under the supervision of Bryan McKay, P.Geo., a Qualified Person under NI 43-101. Ms. Burgess is an independent consultant to Shear.



On behalf of the Board, On behalf of the Board,
SHEAR MINERALS LTD. STORNOWAY DIAMOND CORPORATION
Pamela Strand, P. Geol., President Eira Thomas, CEO


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
    CEO
    (604) 331-2271 or 1-888-338-2200
    (604) 689-5041 (FAX)
    Website: www.stornowaydiamonds.com