Ashton Mining of Canada: Total of Eleven Kimberlites Discovered.

VANCOUVER, BRITISH COLUMBIA--(BUSINESS WIRE)--March 4, 1997--ASHTON MIN. OF CAN.(ME, TSE ACA.) John S. Auston, President and CEO of Ashton Mining of Canada Inc. is pleased to announce that an additional four kimberlites have been discovered on the Buffalo Hills Property in Alberta, bringing to eleven the total number of pipes found by Ashton in its winter drilling program.

All eleven kimberlites are interpreted to represent separate pipes. Detailed below in chronological order of discovery are the target numbers, together with the geophysical anomaly dimensions and the depth of glacial overburden: -0-

Kimberlite       Geophysical Anomaly      Depth of
Number               Dimensions          Overburden

 K7B              200 x 350 metres      34.7 metres   x
 K7C              150 x 150 metres      37.0 metres   x
 K14              300 x 200 metres       7.0 metres   x
 K7A              200 x 200 metres      69.0 metres   x
 K6               450 x 600 metres      13.0 metres   x
 K5A              600 x 600 metres      14.3 metres   x
 K5B              150 x 450 metres      50.3 metres   x
 K4A              250 x 300 metres      24.7 metres   x
 K4B              350 x 400 metres       8.5 metres
 K4C              200 x 250 metres      43.9 metres
 K2               200 x 500 metres       2.0 metres

x  Holes reported previously

The dimensions of the geophysical anomalies are a fair approximation of the outline of the magnetic portion of the pipes, but would not include any non-magnetic portions which may be present. Ten of the kimberlites were discovered through the drilling of ten geophysical anomalies. Elsewhere on the property while preparing access and drill sites for summer operations a bulldozer unearthed kimberlite under 2 metres of glacial clays on anomaly K2. Drilling to date has been concentrated on a single cluster of targets within an area of 100 km2 (38 square miles). Due to permit and logistical considerations no further drilling is anticipated in the winter program.

Ashton is scheduling a summer drilling program which will include the drilling of new geophysical targets together with further evaluation of the kimberlites discovered to date. Numerous anomalies with signatures similar to those already drilled remain to be tested. Ashton is also currently preparing to re-survey the original 1.4 million acre Buffalo Hills option property to a more detailed flight line specification. Other geophysical surveys are also being considered for the adjoining 4.4 million acre joint venture properties.

In Vancouver detailed logging of core from the first pipes has indicated that the majority is volcaniclastic crater facies kimberlite. This suggests that glacial erosion of these pipes has been minimal and that most of the pipes' original dimensions have been preserved.

Processing and analytical evaluation of the core has commenced. This work will focus initially on determination of the diamond prospectivity of the pipes through classical analytical techniques together with nickel thermometry. This will be followed by microdiamond analyses by caustic fusion. A complete set of petrological and analytical results from all kimberlites recently drilled is not anticipated for several months.

Ashton Mining of Canada Inc. and Pure Gold Resources Inc. have an option agreement with a large Alberta energy company whereby Pure Gold and Ashton have the right to earn interests of 15 percent and 42.5 percent respectively in the Buffalo Hills Property. Ashton is operator of the program. Total landholdings, including option and joint venture lands, comprise 5.8 million acres in north central Alberta.

Ashton is a diamond exploration company with interests in a wide range of properties in Canada and the United States. It is 62 percent-owned by Ashton Mining Limited of Australia, a leading explorer, producer and marketer of diamonds which holds an interest of 40 percent in the Argyle diamond mine in northwestern Australia.

CONTACT: Ashton Mining of Canada Inc.

John S. Auston, 604/983-7750

or

Wayne D. Hillier, 604/983-7750