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

To: james flannigan who wrote (2487)	2/11/2005 9:03:03 AM
From: Chas.	Read Replies (1) \| Respond to of 16213

Jim, DeBeers has to know that a positive FS will cause confidence and excitement amongst the shareholders and the investment community as well... the shareprice could make some significant upward movement. Knowing this I wonder if DeBeers will try to close a deal with MPV for buyout before the release of the FS or at same time... or will they do as usual and just wait and wait and wait... I know they feel they rushed on Winspear/Snap Lake and paid too much for the resource..... another thing, the cost to build/develop a mine in the NWT is escalating yearly...Ekati was over a Billion dollars...KL is the same type of Geographical situation. A lot of questions remain on this one and DeBeers/MPV are not talking......... regards

To: james flannigan who wrote (2487)	2/11/2005 2:52:44 PM
From: VAUGHN	Respond to of 16213

Hello James It all sounds good to me and I certainly agree with what you say vise a vie Star. As to whether MPV represents the "cheapest future mine in Canada" well... I think I know what you mean and it wasn't that it is going to be cheap to build the KL mine, which it won't be... but MPV shares are probably the most or amongst the most undervalued impending mine stock, no question... On a separate matter: *OFF THE WIRE* Shear Minerals Ltd. Announces New Hecla Project and Grant of Options For immediate release February 10, 2005 EDMONTON, Alberta - Shear Minerals Ltd. (SRM:TSXV) (“Shear”) today announced that it has acquired by way of federal prospecting permits, a total of 465,000 acres on Melville Island in the NWT. This project is a new conceptual diamond concept developed by Shear and is now referred to as the Hecla Project. Hecla was acquired based on the identification from airphotos and satellite imagery of more than 15 features in two locales suggestive of kimberlitic intrusives. There are more than 15 features that are circular in shape and range in diameter up to 200m hosted in flat lying platformal sediments. Exploration plans for 2005 include a site visit with prospecting and sampling as early as possible in the summer. Images of these features will be posted on the Shear website. The Arctic Islands of the Northwest Territories and Nunavut have recently become active for diamond exploration. At the same time as the Hecla acquisition, numerous other diamond exploration companies have been acquiring lands elsewhere in the Arctic Islands. More than 7 million acres have been acquired on Victoria Island, Devon Island, Banks Island, Price of Wales Island, Baffin Island, and Ellesmere Island by these companies. Pursuant to arms length agreement, Shear has agreed to issue an aggregate of 200,000 common shares of Shear as a Finders Fee upon the following milestones being achieved: 25,000 with the successful acquisition of land, 75,000 shares upon the discovery of a kimberlite, and 100,000 shares upon the discovery of one or more diamonds per kg in any 25kg sized sample of kimberlite. Shear has granted a 2% GORR of which 1% can be bought by Shear for the sum of $1.5 Million. This agreement is subject to regulatory approval. In addition, subject to regulatory approval, the Board of Directors has approved the grant of stock options pursuant to Shear’s Stock Option Plan to acquire an aggregate of up to 1,400,000 common shares of Shear (“Common Shares”), of which options to acquire an aggregate of 1,175,000 Common Shares will be granted to directors and officers of Shear. The options will have an exercise price of $ 0.40 per share and will expire five years from the date of the grant. Shear Minerals Ltd. is a Canadian-based exploration company focused 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 twelve diamond projects, eight of which are drill-ready. The Company has advanced its 51%-owned Churchill Diamond property in Nunavut from a conceptual grassroots project to a new kimberlite district. For further information please contact: Pamela Strand, President and CEO. Tel: (780) 435-0045; Fax: (780) 989-0322 www.shearminerals.com E-Mail: info@shearminerals.com SRM is certainly getting the peripheral story NR's out this week. Re: Mellville Island, its roughly due north of Diamonds North's exciting Victoria Island play and roughly north north/east of DDN's and Majescor's newly announced Banks Island play outlined in their NR on the 8th. Regards Vaughn