Ashton Mining of Canada Inc.: Seventh Kimberlitic Body Discovered in Quebec and Mini-Bulk Sampling Program Approved.

Business Editors

VANCOUVER, British Columbia--(BUSINESS WIRE)--Aug. 21, 2002

Robert T. Boyd, President and CEO of Ashton Mining of Canada Inc. ("Ashton")(TSX:ACA), is pleased to report the discovery of the Renard 7 kimberlitic intrusion on the Foxtrot property in north-central Quebec. In addition, Ashton and its joint venture partner, SOQUEM INC. ("SOQUEM"), will conduct a further program of mini-bulk sampling and delineation drilling on the Renard 2, 3 and 4 kimberlitic intrusions on the Foxtrot property.

Renard 7

Renard 7 was discovered by drilling a geophysical anomaly situated approximately 1300 metres north of Renard 2. A vertical hole intersected kimberlitic rock under 18.5 metres of overburden and terminated in kimberlitic material at a depth of 102.0 metres. A second hole is currently being drilled at Renard 7.

With the discovery of this new body, seven kimberlitic intrusions have now been identified on the Foxtrot property. The joint venture expects to test at least two additional geophysical targets before completing the current program.

Mini-bulk Sampling and Delineation Drilling Program

As announced on June 11, 2002, a 2.44 tonne mini-bulk sample from Renard 2 returned a total of 1.69 carats of diamonds greater than 0.8 mm using a square mesh screen. These results gave the sample an estimated diamond content of 69.3 carats per hundred tonnes. Encouraging microdiamond results from the Renard 3, 4 and 5 kimberlitic bodies were announced on June 13 and July 2, 2002.

The objectives of the recently approved program are to more clearly define the size and shape of Renard 2, 3 and 4 by further drilling, and to collect additional samples for diamond analysis. At each of Renard 3 and 4, a mini-bulk sample of approximately four tonnes will be collected by drilling. At Renard 2, at least one additional tonne of kimberlitic material will be collected from two drill holes.

Renard 5 also warrants the collection of an additional mini-bulk sample. Because the body is partly covered by a small lake, drilling has been deferred until early 2003 when winter conditions will facilitate access and operations.

SOQUEM is a wholly-owned subsidiary of SGF Minerals Inc., a subsidiary of Societe Generale de Financement du Quebec ("SGF"). The mission of the SGF is to carry out economic development projects in Quebec in cooperation with partners and in accordance with accepted requirements of profitability.

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