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Gold/Mining/Energy : Canadian-under $3.00 Stock-Picking Challenge -- Ignore unavailable to you. Want to Upgrade?

To: Al Collard who wrote (8859)	7/23/2002 4:29:16 PM
From: brian krause	Respond to of 11802

KENSINGTON RESOURCES LTD - 3.35 Carat Diamond Plus Two Others Recovered at Fort a la Corne 7/23/02 Vancouver, BC, Jul 23, 2002 (Market News Publishing via COMTEX) -- Kensington Resources Ltd. (the "Company") is pleased to announce the recovery of three previously unreported macrodiamonds from the 141 kimberlite body in the Fort la Corne Diamond Project, Saskatchewan. A macrodiamond weighing 3.35 carats was recovered from the upper part of drillhole 141-20 during final diamond recovery from previously unexamined clay-rich samples. The 3.35 carat stone is the largest diamond recovered to date for this project and on first inspection appears of similar quality to diamonds recovered previously from pipe #141. During a routine tails audit of +4mm material from selected samples acquired during the 2001 drilling program, De Beers Canada Exploration Inc. reported the recovery of two additional stones weighing 0.28 carats (drillhole 141-28) and 0.125 carats (drillhole 141-23). These macrodiamonds were forwarded to De Beers facilities in London for valuation. Final results for three clay-altered samples, which had proved troublesome to treat and examine, are expected from De Beers shortly. Once these values and results are received, they will be incorporated into a final, updated version of the July 2002 report mentioned below. The joint venture partners received a final report entitled "Updated Evaluation Report on Kimberlite #141 as at July 2002 (Incorporating Kimberlite #140)" from De Beers Canada Exploration Inc. on Friday, July 19, 2002. This report is under consideration by the Technical Committee and Board of Directors of the Company and will be reported to the public once all datasets are completed and approved by the joint venture partners. Also, the 2002 Fort a la Corne Joint Venture Management Meeting was held on Friday July 19, 2002. Plans for the 2002 exploration and evaluation program are under consideration by the joint venture partners and will be finalized during the first week of August, 2002. The Fort a 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 a la Corne Field form one of the largest diamondiferous clusters in the world. ON BEHALF OF THE BOARD OF DIRECTORS OF KENSINGTON RESOURCES LTD. (signed) "David H. Stone" David H. Stone President TEL: (250) 361-1KRT William Callahan, Investor Relations Kensington Resources Ltd. TOLL FREE: 1-800-514-7559 E-mail: bill@kensington-resources.com TEL: (604) 682-5123 Robert A. Young, Investor Relations Robert A. Young & Associates TOLL FREE: 1-877-626-2121 E-mail: raya@digital-rain.com MarketbyFax(tm) - To get the NEWS as it happens, call (604) 689-3041. (c) Market News Publishing Inc. Tel:(604) 689-1101 All rights reserved. Fax:(604) 689-1106 News provided by Comtex