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Gold/Mining/Energy : Canadian Diamond Play Cafi -- Ignore unavailable to you. Want to Upgrade?

To: Famularo who wrote (2470)	2/9/2005 1:00:16 PM
From: VAUGHN	Read Replies (1) \| Respond to of 16213

Hello Frank *OFF THE WIRE* Drill Program Commenced at Shulin Lake Property, Alaska For immediate release February 9, 2005 EDMONTON, Alberta – Shear Minerals Ltd. (SRM:TSXV) is pleased to report the latest update regarding the Shulin Lake Property in Alaska from operator and partner Golconda Resources Ltd (“Golconda”). As a result of new discoveries at the property as listed below, a major program is underway with an approved budget totaling $1 Million US. This program will followup on a diamond and indicator mineral bearing intersection that was discovered in 2004 and reported in the October 6, 2004 news release by Golconda. The 2005 program will be composed of core drilling to test a series of geophysical anomalies that have been chosen from a re-interpretation of existing geophysical data. One hole, drilled in 2004 recovered three microdiamonds from an 8kg sample. From the same interval where the diamonds were recovered, new mineral chemistry has been recovered including 4 G 9 garnets and a series of 11 garnets from the megacryst suite and one eclogitic garnet. This project is a joint venture between Goldonda (51%), Shulin Lake Mining, a private company (39.8%) and Shear Minerals Ltd (9.2%). All parties are contributing to this current program. Shear Minerals Ltd. is a Canadian-based exploration company focusing on diamond exploration in the Canadian North where it explores in established diamond districts and has discovered new ones. Shear currently has a portfolio of ten diamond projects of which eight are drill-ready. The Company has advanced its 51% owned Churchill Diamond Project in Nunavut from a conceptual grassroots project to a new kimberlite district with the discovery of 24 kimberlites. For further information please contact: Pamela Strand, President and CEO. Tel: (780) 435-0045; Fax: (780) 989-0322. www.shearminerals.com E-Mail: pstrand@compusmart.ab.ca An interesting anomaly off the beaten track but still recovering diamonds. Must be a piece of a craton accretted(sp?) to the basement up there. Time will tell. Vaughn