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

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To: Bob Williams who wrote (3040)	12/2/1997 9:23:00 AM
From: Famularo	Read Replies (1) of 7966

Microdiamond results from kimberlite K-91 Ashton Mining of Canada Inc ACA Shares issued 20,836,399 Dec 1 close $5.45 Tue 2 Dec 97 News Release Also Alberta Energy Company Ltd (AEC) Also Pure Gold Minerals Inc (PUG) Mr John Auston reports Ashton Mining has received the results of the first microdiamond tests from kimberlite K-91 on the Buffalo Hills project in north-central Alberta. Kimberlite K-91 is 2.3km north-northwest of kimberlite K-14, and is reflected as a magnetic anomaly 400 metres long and 100 metres wide. In October a vertical core drill hole and three angle holes were put down from one site. After penetrating 15 metres of overburden these holes cut intersections of kimberlite of up to 110 metres in length before passing into mudstone country rock. The results of microdiamond analyses of two samples from the vertical drill hole are: No. of Stones Micro Macro Sample less greater Labor- Interval Weight than than atory (m) (kg) 0.5mm 0.5mm ------ -------- ------ ----- ------- Hole K-91-1 AML 58.2- 69.0 48.0 56 6 AMC 97.7-108.2 49.0 83 1 ---- --- - - Total 97.0 139 7 Microdiamonds are stones with a maximum dimension of less than 0.5mm and greater than 0.1mm. AMC - Ashton Mining of Canada, North Vancouver AML - Ashton Mining Limited, Perth, Australia The two largest macrodiamonds display maximum dimensions of 1.35 millimetres and 0.95 millimetre, and are clear and colourless. The results are among the best received to date from the Buffalo Hills program, and indicate clearly the requirement for further sampling of kimberlite K-91 to assess its diamond potential. Ashton Mining of Canada and Pure Gold Minerals have an option agreement with Alberta Energy Company of Calgary whereby Pure Gold and Ashton have the right to earn interests of 15% and 42.5% respectively in the Buffalo Hills property. Total landholdings, including option and joint venture lands, comprise 28.3 million acres in north central Alberta. Ashton is operator of the related exploration programs.

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