Ashton Discovers New Kimberlite in Nunavut; Vertical Intersection of 160 Metres.

VANCOUVER, British Columbia -- Ashton Mining of Canada Inc. (TSX:ACA) -

Robert T. Boyd, President and CEO of Ashton Mining of Canada Inc. ("Ashton" or "the Corporation") is pleased to announce the discovery of Ric-97, Ashton's tenth kimberlite in the Coronation Gulf region of Nunavut, on the 100 percent-owned Ric property. This property is located 20 kilometres south of the Knife Lake kimberlite discovered by De Beers Canada Exploration Inc. and Rhonda Corporation and 115 kilometres northwest of Tahera Diamond Corporation's Jericho diamond project.

The Ric-97 kimberlite was discovered during a spring program of geophysics and drilling. A vertical core hole was drilled into the centre of a 75 metre by 50 metre magnetic anomaly. After passing through 10 metres of overburden, the drill continued in olivine macrocrystic kimberlite to a depth of 170 metres. The hole was terminated in granite at 181 metres.

Samples of drill core from the Ric-97 kimberlite will be processed for diamonds by caustic dissolution at Ashton's North Vancouver laboratory with results expected in the third quarter. Further work on this kimberlite will be considered upon completion of this testing.

The spring program also included the drilling of two other targets interpreted to be the source of indicator mineral anomalies. A 1.4 metre wide kimberlitic dyke was intersected at one of the targets, located 100 metres along the interpreted strike of a system of narrow dykes whose discovery was reported on May 14, 2003. No further work on this dyke system is anticipated at this time.

Ashton has approved a 2005 exploration budget of $1.5 million for its 100 percent-owned properties in the Coronation Gulf region, which include Eokuk, James River, Kim, Ric and Vic. This work will include a summer program of indicator mineral sampling, ground geophysics and, if warranted, drilling.

Diamond exploration by several companies in the Coronation Gulf region has resulted in the discovery of more than 11 diamondiferous kimberlites since the mid-1990's, including six by Ashton. Ongoing activities in this region are an element of the Corporations' strategy of maintaining a strong portfolio of early exploration stage initiatives across Canada. These initiatives complement Ashton's more advanced project in Quebec and expose the Corporation to other prospective kimberlite districts.

The Corporation is one of the leading explorers in the Canadian diamond industry. Ashton's key competitive advantages include significant exploration experience and its in-house laboratory facilities in North Vancouver, dedicated exclusively to the Corporation's exploration projects.

Ashton is the operator of the exploration programs and Brooke Clements, Professional Geologist and Ashton's Vice President, Exploration, is responsible for their design and conduct, and the verification and quality assurance of analytical results.

Ashton Mining of Canada Inc. (TSX:ACA)