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Gold/Mining/Energy : Kensington Resources Ltd. (V.KRT) * Diamond in the rough! -- Ignore unavailable to you. Want to Upgrade?

To: Clark Kent who wrote (5102)	3/6/2002 2:20:00 PM
From: Barry Moss	Respond to of 5206

Its been very quiet here considering that KRT has slowly been inching up. I went over to KRT's website today and noticed the following release. It looks like they don't have any idea why the price is going up either. NO MATERIAL CHANGE Victoria, B.C., Monday, March 4, 2002 – At the request of the Canadian Venture Exchange, Kensington Resources Ltd. (the “Company”) reports that no material change has occurred to explain the current market activity. Diamond recovery results for the ten large diameter (24-inch) boreholes drilled this fall at the Fort à la Corne Diamond Project, Saskatchewan are expected to be received during the first quarter of 2002 and will be reported as they are received and evaluated. The main objective of the 2001 drilling program was to obtain sufficient macrodiamonds for De Beers to improve the confidence limits of the modeled average diamond values for kimberlite body 141. Revenue modeling is based on factorized forecast grades and the corresponding modeled stone values per body with a decreased emphasis on smaller stone sizes. As announced on April 25, 2001, the previous “lower confidence” average values for macrodiamonds >1.5 mm recovered from body 141 ranged from US $153 to $179 per carat for the “best case” and “optimistic” scenarios, respectively. Revenue models for these scenarios indicate values between US $28 and $32 per tonne for kimberlite body 141. The Fort à la Corne Diamond Project is a joint venture among De Beers Canada Exploration Inc., a wholly owned subsidiary of De Beers (42.25%), Cameco Corporation (CCO-TM;CCJ-DNQX;CMECF-L) (5.5%), UEM Inc. (carried 10%), and Kensington Resources Ltd. (KRT-CDNX;KNSRF-L) (42.25%). The 71+ kimberlite bodies of the Fort à la Corne Field form one of the largest diamondiferous clusters in the world. The 2001 program was funded by Kensington, De Beers, and Cameco. ON BEHALF OF THE BOARD OF DIRECTORS OF KENSINGTON RESOURCES LTD. (signed) “David H. Stone” David H. Stone President TRADING SYMBOL: KRT-CDNX For further information, please contact William Callahan, Manager of Investor Relations at (250) 361-1KRT or by e-mail at bill@kensington-resources.com The Canadian Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this news release.