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Gold/Mining/Energy : Diamonds in Alberta, Ashton, Pure Gold, Montello, New Cla -- Ignore unavailable to you. Want to Upgrade?

To: GoldFinger who wrote (517)	3/23/1998 9:03:00 AM
From: Famularo	Read Replies (1) \| Respond to of 822

NEWS RELEASE TRANSMITTED BY CANADIAN CORPORATE NEWS FOR: ASHTON MINING OF CANADA INC. TSE, ME SYMBOL: ACA MARCH 23, 1998 Ashton Finds Three More Kimberlites at Buffalo Hills VANCOUVER, BRITISH COLUMBIA--John S. Auston, President and CEO of Ashton Mining of Canada Inc., is pleased to provide a report on progress of the Buffalo Hills Project in north-central Alberta. Reconnaissance Drilling Reverse circulation drill holes on aeromagnetic anomalies in areas 25 kilometres south and southwest of K-14 have discovered two kimberlites, and drilling on a magnetic anomaly 550 metres north of K-14 has also intersected kimberlite. This brings to 9 the number of new kimberlites found by the 1998 winter program and a total of 23 since inception in January 1997. This winter's results are: /T/ Kimberlite Anomaly Dimension Overburden Depth (Metres) (Metres) K-11 X 500 x 250 13.4 K-15 X 600 x 200 42.7 K-10 XX 150 x 150 127 K-32 XX 100 x 150 90 K-92 XX 450 x 200 80 K-93 XX 350 x 150 79 K-3 650 x 500 29 K-95 200 x 200 26 WP 150 x 100 30 X reported on February 26, 1998 XX reported on March 6, 1998 /T/ The recent results are further encouraging indications of widespread kimberlite occurrences on the Buffalo Hills joint venture lands. The program of winter reconnaissance drilling has been concluded because of access problems during the spring breakup period. Samples from the new kimberlites now will be analysed for microdiamonds, with the first set of results expected in three to six weeks. Mini-Bulk Sampling Drilling by large diameter core and rotary methods on kimberlite K-91 has completed the collection of a mini-bulk sample of roughly 40 tonnes. This material will be processed in the dense media separation plant in Ashton's North Vancouver laboratory. Results are expected to be available early in the third quarter. Sample Treatment Plant Preparations are underway for installation of a sample treatment plant in the project area. H.A. Simons Ltd. of Vancouver will provide services for the design and the management of construction, and Bateman/Van Eck and Lurie (Pty) Limited of South Africa will supply the dense media separation unit. Bulk Sampling Program Two reverse circulation drills on kimberlite K-14 completed the collection of a bulk sample of approximately 450 tonnes before breakup conditions ended the sampling. The sample will be stored awaiting treatment. If treatment takes place in the plant to be constructed in the project area, results would be available early in the fourth quarter. Possibilities for earlier treatment in a contract plant are under review in order to hasten the evaluation. The joint venturers on the central Buffalo Hills Project are Ashton Mining of Canada Inc. (ACA.TSE/ME, 42.5 percent), Alberta Energy Company Ltd. (AEC.TSE and AOG.NYSE, 42.5 percent) and Pure Gold Minerals Inc. (PUG.TSE, 15 percent). Ashton is operator of the programs. Ashton is a diamond exploration company with interests in a wide range of properties in Canada and the United States. It is 61.4 percent-owned by Ashton Mining Limited of Australia, a leading explorer, producer and marketer of diamonds which holds an interest of 40.1 percent in the Argyle diamond mine in northwestern Australia. -30- FOR FURTHER INFORMATION PLEASE CONTACT: Ashton Mining of Canada Inc. John S. Auston President and CEO (604) 983-7750 or Susan Morrison Investor Relations (604) 983-7750