Ashton Mining of Canada Inc.: 37th Kimberlite Discovered on Buffalo Hills Property in Alberta.

Business Editors

VANCOUVER, British Columbia--(BUSINESS WIRE)--Jan. 29, 2003

Robert T. Boyd, President and CEO of Ashton Mining of Canada Inc. (TSX:ACA) ("Ashton") is pleased to report that the first target drilled during the current winter program on the Buffalo Hills property in north-central Alberta has thus far returned five metres of highly altered kimberlite.

Located approximately 18 km southwest of the K252 kimberlite, the target is represented by a strong electromagnetic anomaly with approximate surface dimensions of 400 m x 400 m. The discovery was made when a vertical drill hole intersected 30 metres of glacial overburden underlain by 24 metres of mudstone before intersecting kimberlite at a depth of 54 metres. At the time of preparation of this news release, the drill had reached 59 metres and was still in kimberlite.

Designated K296, this body constitutes the 37th discovery that the Alberta joint venture has made on the Buffalo Hills property. Once drilling is completed at this location, the program will advance to other geophysical targets located on the property. Ashton will provide a final update on the Buffalo Hills winter drill program upon completion of field activities in late February or early March.

The joint venturers on the Buffalo Hills property and their approximate beneficial interests are Ashton (ACA.TSX) 45 percent, Pure Gold Minerals Inc. (PUG.TSX) 10 percent, and EnCana Corporation (ECA.TSX), 45 percent.

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.