Robert T. Boyd, President and CEO of Ashton Mining of Canada Inc. ("Ashton" or the "Corporation") is pleased to report an estimated diamond content of 114 carats per hundred tonnes ("cpht") for 12.7 tonnes of kimberlitic material collected from one of four trenches excavated along the Lynx dyke system on the Foxtrot property in north-central Quebec by Ashton and its 50:50 joint venture partner, SOQUEM INC. ("SOQUEM"). 

Located approximately two kilometres west of the Renard cluster of nine kimberlitic bodies, the Lynx dyke system is a 3.7 kilometre long zone of continuous or semi-continuous kimberlitic dykes oriented along a north-northwest strike. The system is open along strike to both the north and south as well as at depth.

Trench Sampling Program

The 12.7 tonne sample is the initial portion of the 34.7 tonnes of kimberlitic material collected by trenching at four locations along the Lynx dyke system during the summer of 2005. The four trench sites are situated at a distance of 100, 220, 920 and 1800 metres, respectively, north of the southernmost drill intersection of the dyke, and are designated as Trench 230-01, 230-02, 221 and 184 respectively. A map showing the four locations is available on Ashton's website at http://www.ashton.ca/projects_quebec_map_lynx_dyke_system.html.

The 12.7 tonne sample was processed by dense media separation at Ashton's North Vancouver laboratory. The sample returned 14.55 carats of diamonds larger than 1.18 mm using a square mesh screen, giving this material an estimated diamond content of 114 cpht. The diamonds recovered include a 1.16 carat grey composite tetrahexahedroidal crystal as well as seven other diamonds each weighing more than 0.3 carats.

As reported on March 22, 2005, a cumulative 14.2 tonnes of kimberlitic boulders collected on surface at several locations along the Lynx dyke system returned an estimated diamond content of 135 cpht. The diamonds recovered from this material include stones weighing 5.66, 1.20 and 0.96 carats.

The results of the sample collected from Trench 230-01, together with those previously reported, reinforce the potential of the Lynx dyke system. The joint venture will continue to evaluate the system through a drill program planned for later during the current field season. The objective of this drilling is to identify continuous zones of kimberlitic material that are characterized by a significant average width and a favourable diamond content and could therefore positively impact an evaluation of the economic potential of the Renard cluster.

Ashton Mining of Canada Inc. and SOQUEM INC.

Ashton's prime objective is the discovery or acquisition of diamond prospects capable of rapid advancement to development and production. The Corporation is recognized as one of the leading explorers in the Canadian diamond industry. Ashton's competitive advantages include the significant exploration experience of its key personnel as well as its extensive in-house diamond laboratory facilities in North Vancouver.

SOQUEM INC. is a wholly owned subsidiary of the Société générale de financement du Québec ("SGF"). The mission of the SGF, an industrial and financial holding company, is to undertake economic development projects in the industrial sector in cooperation with partners and in compliance with the economic development policies of the Government of Quebec.

Ashton is the operator of the joint venture's exploration programs. Brooke Clements, Professional Geologist and Ashton's Vice President Exploration, is a Qualified Person pursuant to National Instrument 43-101. Mr. Clements is responsible for the design and conduct of the Corporation's exploration programs and for the verification and quality assurance of analytical results.

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