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Gold/Mining/Energy : ASHTON MINING OF CANADA (ACA) -- Ignore unavailable to you. Want to Upgrade?

To: DIAMOND JIM who wrote (3870)	2/12/1998 12:54:00 AM
From: Jesse	Read Replies (1) \| Respond to of 7966

For interest-- Ashton Australia and DiaMet JV in Finland: - - -- -- --- -- -- - - Dia Met announcement/Ashton venture Reuters Story - February 11, 1998 08:25 (Full text of press release from Canadian Corporate News) FEBRUARY 11, 1998 Dia Met Minerals, Ashton Mining announce Finland Exploration Joint Venture KELOWNA, BRITISH COLUMBIA--Dia Met Minerals Ltd. is pleased to announce that in addition to continuing exploration on its 100-per- cent-owned Finland project, agreement has been reached to enter into a joint venture with Australian company Ashton Mining Limited on Ashton's Finland diamond project. The joint venture covers two areas in eastern Finland, one of 38,475 sq kms and the other of 40,750 sq kms. Ashton has been active in diamond exploration in Finland since 1986. Its countrywide regional sampling program has identified several separate and distinct areas in Finland from which kimberlite indicator minerals are being shed. Follow-up sampling has identified indicator mineral trains, in addition to the ones that Dia Met has discovered, that have yet to be resolved. Both companies believe that the integration of their large databases and proprietary techniques will enhance ongoing exploration. Ashton has discovered 24 kimberlites in Finland and 16 of these are confirmed to be diamond bearing. Mini-bulk samples have been taken from five of the diamond bearing pipes. The results of four, as previously reported by Ashton, are summarized in the following table: Results of Mini-Bulk sampling Pipe Area Sample Weight Diamonds Recovered Grade (ha) (tonnes) (carats)(a) (carats/ 100 tonnes) 7 1.8 23.3(b) 5.99 25.7 12 greater than 1.1 9.4 1.63 17.3 13 0.9 3.0 0.43 14.3 21(c) 1.5 16.6 4.41 26.6 (a) Diamonds reported have size + 0.8 mm (b) A 1,400 tonne sample has been excavated from a single site in the pipe, and parcels aggregating 1,114 tonnes have yielded grades varying from 4.6 to 8.9 carats per 100 tonnes. The lower grades are attributed to country rock contamination in the material available for sampling and to variations in diamond distribution within different phases of the kimberlite. (c) A 1.1 carat diamond was recovered from the 16.6 tonne-mini- bulk sample that was taken from pipe 21. The result of the mini-bulk sample that was taken from the fifth kimberlite did not indicate a grade of commercial significance. Dia Met will manage the joint venture operations. Evaluation studies, including drilling to obtain additional diamond bearing kimberlite, will be carried out. The search for new kimberlite pipes will continue. Under the terms of the agreement, Dia Met is required to spend $4 million Cdn over the next three years to earn a 60 per cent interest in Ashton's project. Of this amount, Dia Met has undertaken to spend a minimum of $2 million Cdn over the next two years. SIGNED ON BEHALF OF THE BOARD OF DIRECTORS Charles E. Fipke, Geologist and Director FOR FURTHER INFORMATION PLEASE CONTACT: Dia Met Minerals Ltd. Raymond Ashley Manager of Exploration (250) 861-8660 (250) 861-3649 (FAX) diamet.com e-mail: corporatdiamet.com The American Stock Exchange and Toronto Stock Exchange have neither approved nor disapproved the information contained in this release. ---------------- -j :>

To: DIAMOND JIM who wrote (3870)	2/12/1998 11:06:00 AM
From: Famularo	Read Replies (1) \| Respond to of 7966

>>> Frank what do you hear about the house action this week? D.James spec buy rating does not seem to have kicked in yet<<< DJ, I am lost for words. I don't know what is going on. I did notice some funny trading this morning. i.e,,, ScotiaMcLeod filled the bid of 22k shares of Ashto at $4.25, right after, a broker placed an order to sell over 20,000 shares at $4.20 to allow the stock to drop and see how low it was going... Minutes later, the ask of 20000 shares disappeared and was not filled. There is games being played here. I suspect SOMEONE or a few people are trying to scare off people. As Ashton is the trend leader in Alberta, DON'T expect others in Alberta to do well unless Ashton turns around. From what I have read on these threads and from what Kaiser has said, it is obvious that investors are not pleased with the NR reporting procedures that Ashton and Pure Gold have in place. Here's a tip.... If you're holding stock long in an account, call your broker and place an order to sell higher than current trading price. 8 out of 10 times the broker has borrowed the stock to short and they would have to it back...then cancel your order...<g> Games of the trade... Lets squeeze them out... It is ugly out there, and I don't know why..