Ashton Mining of Canada Inc.: Perseus Kimberlite Confirmed Diamondiferous.

Business Editors

VANCOUVER, B.C.--(BUSINESS WIRE)--Dec. 14, 2000

Ashton Mining (TSE:ACA.)

Robert T. Boyd, President and CEO of Ashton Mining of Canada Inc. ("Ashton") is pleased to report that the Perseus kimberlite on the Ric property in Nunavut is diamondiferous.

The Perseus kimberlite is located at the head of a highly anomalous indicator mineral train coincident with the presence of kimberlite float. As reported on September 26, 2000, microdiamonds were present in till samples and kimberlite float distributed over a strike length of 1.4 km. In September 2000 five core holes were drilled into the hypabyssal kimberlite. The drill results suggest that the intrusion is a dyke approximately 10 m wide dipping north at approximately 19 degrees with an east-northeast strike.

In total, 55 microdiamonds were recovered from 211 kg of kimberlite by caustic dissolution at Ashton's North Vancouver laboratory. Material from all five drill holes was processed. A microdiamond is defined as being greater than 0.1 and less than 0.5 mm in all dimensions. Drilling is planned in 2001 to better delineate the dimensions of the Perseus dyke and to determine the variability of its diamond content.

Ashton is encouraged by this discovery of a new diamondiferous kimberlite in the northern part of the Slave craton. In addition to Perseus, two other diamondiferous kimberlites were discovered in the region during 2000 by different mining groups. These discoveries provide a clear indication of the potential for further diamondiferous kimberlite discoveries in the north Slave. At least seven indicator mineral trains with encouraging mineralogy remain unexplained on the 51,100 hectare Ric property and on the 53,100 Kim property located 25 km to the north. Exploration on the Ric and Kim in 2001 will consist of heavy mineral sampling and airborne and ground geophysical surveys followed by the drilling of high priority targets if warranted.

The Ric and Kim claims constitute two of the properties being explored by Ashton and Pure Gold Minerals Inc. under the Slave Regional joint venture. Current approximate interests in the joint venture are Ashton 87.5 percent and Pure Gold 12.5 percent. Ashton is operator of all programs under the joint venture and Brooke Clements, Professional Geologist and Ashton's Vice President, Exploration, is responsible for the design and conduct of the programs.