Ashton Advances Programs On Superior Craton and Acquires Property in Quebec.

Business Editors

VANCOUVER, B.C.--(BUSINESS WIRE)--Dec. 18, 2000

Ashton (TSE:ACA.)

Robert T. Boyd, President and CEO of Ashton Mining of Canada Inc. ("Ashton") is pleased to provide an update on Ashton's Superior craton programs, including the acquisition of mineral permits in Quebec.

Quebec

In 1996 Ashton and its joint venture partner SOQUEM Inc. ("SOQUEM") initiated a reconnaissance-level diamond exploration program over a selected portion of northern Quebec underlain by the Archean Superior craton. To date, the joint venture has collected approximately 1,700 heavy mineral samples including till, stream sediment and glaciofluvial sediment and flown 8,700 line km of airborne magnetic surveys, thereby evaluating more than 450,000 square km of prospective terrain.

This work has resulted in the identification of a number of discreet kimberlite indicator mineral occurrences, some coincident with airborne magnetic anomalies displaying characteristics consistent with kimberlite. The indicator mineral fans suggest the presence of multiple kimberlite sources in at least two project areas. One of these areas is the Otish Mountains region approximately 275 km northeast of Chibougamau and the other is the Caniapiscau area situated approximately 500 km east-northeast of Radisson. Samples containing more than 1,000 indicator minerals have been collected in these areas. High chromium, low calcium ("G10") pyrope garnets are present in some of these samples. Picroilmenite with a chemical composition suggestive of diamond preservation is also present in certain samples and has been recovered in association with G10 garnets.

Pending approval by the Ministere des Resources Naturelles du Quebec, the joint venture now controls approximately 100,000 hectares of mineral permits in the two project areas. Most of these permits were acquired between August and December 2000.

The exceptional indicator mineral counts and geochemistry results associated with geophysical anomalies demonstrate the need for an aggressive exploration program in 2001. During the first quarter, ground geophysical surveys will be completed over airborne magnetic anomalies and high priority targets will be drill tested. In addition, further heavy mineral sampling will be carried out. This sampling will better define geophysical and indicator mineral anomalies on the joint venture permits and upgrade the joint venture's understanding of other selected regional indicator mineral anomalies.

Ashton (TSE:ACA.) and SOQUEM each have a 50 percent interest in the Quebec diamond joint venture. SOQUEM is a wholly-owned subsidiary of SGF Minerals Inc., which is a subsidiary of the Societe generale de financement du Quebec (SGF). The mission of the SGF is to carry out economic development projects in cooperation with partners and in accordance with accepted requirements of profitability.

Western Superior Craton

The western portion of the Superior craton covers parts of Manitoba and Ontario. Ashton has been exploring in this region since 1993. Reconnaissance and supplementary heavy mineral sampling programs continued in 2000 over a 315,000 square km area that includes portions of both provinces. Detailed sample collection and analysis have identified several areas demonstrating anomalous kimberlite indicator mineral occurrences. In one of these areas, more than 1,000 indicator minerals were recovered from a single sample. Additional results from the 2000 heavy mineral sampling program will be received in early 2001. These results will aid in determining whether land acquisition, geophysics and drilling are warranted in the first quarter.

Ashton is the operator of the programs described herein and Brooke Clements, Professional Geologist and Ashton's Vice President, Exploration, is responsible for the design and conduct of the programs.