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Gold/Mining/Energy : ASHTON MINING OF CANADA (ACA)

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To: Martin Wormser who wrote (7623)	5/17/2000 12:00:00 PM
From: Martin Wormser	Read Replies (1) of 7966

00-08 May 17, 2000 Toronto Stock Exchange: ACA ASHTON ANNOUNCES SUPERIOR CRATON EXPLORATION PROGRAM John S. Auston, President and CEO of Ashton Mining of Canada Inc. ("Ashton") announces the start of the 2000 Superior craton exploration program in eastern Canada. The current program will build on Ashton's existing exploration initiatives in this region, both in Quebec and in the western portion of the craton. The Precambrian-aged Superior craton is the world's largest stable platform of ancient crustal rocks, and as such is broadly favourable for kimberlite emplacement and diamonds. It includes parts of Manitoba, Ontario and Quebec as well as portions of the north-central United States. Quebec In March 1996 Ashton entered into a diamond exploration joint venture with SOQUEM Inc.. This joint venture established a 185,000 square kilometre area of interest in northern Quebec and a systematic program of regional heavy mineral sampling was initiated. These sampling programs have continued to date and several areas showing anomalous indicator minerals have been identified. The 2000 program will include follow-up heavy mineral sampling in these areas followed by airborne magnetic surveying if warranted, together with on-going regional evaluation. Ashton (ACA.TSE) and SOQUEM each have a 50 percent interest in the joint venture. Ashton is the operator of the program. SOQUEM is a wholly-owned subsidiary of SGF Minerals inc., which is a subsidiary of the Soci‚t‚ g‚n‚rale de financement du Qu‚bec (SGF). The mission of the SGF is to carry out economic development projects in cooperation with partners and in accordance with accepted requirements of profitability. Western Superior Craton The western portion of the Superior craton covers parts of Manitoba and Ontario. Ashton's exploration programs have been underway intermittently in this region since 1993. These programs have included the discovery and evaluation of kimberlites in the James Bay Lowlands as well as heavy mineral sampling and on-going regional evaluation. The 2000 program will focus on follow-up sampling related to specific anomalous indicator mineral occurrences identified previously and continued reconnaissance. For more information visit our website at www.ashton.ca or contact: John S. Auston President & CEO (604) 983-7750 Ariel Bowers Investor Relations investor@ashton.ca

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