ASHTON MINING OF CANADA (ACA) Message Board

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

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To: Martin Wormser who started this subject	3/8/2001 10:45:35 AM
From: Famularo	of 7966

Ashton Mining of Canada Inc ACA Shares issued 35,887,417 2001-03-07 close $0.9 Thursday Mar 8 2001 News Release See Pure Gold Minerals Inc (PUG) News Release Mr. Donald Sheldon reports The company has discovered a new kimberlite on the Buffalo Hills property in Alberta and has provided the current status of the K252 drilling and mini-bulk sampling program. New kimberlite Two priority targets on the Buffalo Hills property were drilled during February and early March. Drilling of the first target, located approximately 15 kilometres southeast of K252, resulted in the discovery of the K281 kimberlite. The kimberlite was intersected by two drill holes. The first hole was drilled vertically to test the magnetic anomaly and intersected kimberlite at a depth of 37 metres. The second hole, located 150 metres northwest of the initial hole, was drilled at a 60-degree angle to the south, outside of the interpreted limits of the magnetic anomaly. The drill intersected kimberlite at a vertical depth of 80 metres. Magnetic and drill data indicate that K281 has a minimum diameter of 200 metres although seismic and electromagnetic data suggest that the body may be significantly larger. The second target drilled is located 300 metres south of the K91 kimberlite. This subtle magnetic anomaly was explained by the presence of numerous kimberlite boulders embedded in three-metre-thick basal till unit immediately overlying mudstone bedrock. The boulders are believed to have been transported south from the K91 kimberlite by glacial ice. K252 update A reverse circulation drill rig is on site at K252 and collection of a mini-bulk sample of up to 20 tonnes is now under way. A 1.28-tonne mini-bulk sample collected from the K252 kimberlite during the fall of 2000 returned an estimated diamond content of 66.2 carats per hundred tonnes. A limited program of core drilling was completed on K252 during February in order to test the interpreted boundaries of the kimberlite's geophysical anomaly. The interpretation of data from the five holes drilled indicates that K252 is approximately two hectares in size. The joint venturers on the Buffalo Hills property and their approximate interests are Ashton Mining of Canada Inc. 45 per cent, Alberta Energy Company Ltd. 45 per cent and Pure Gold Minerals Inc. 10 per cent. Ashton is the operator of the Alberta programs.

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