Shear Minerals Ltd. (SRM) and Northern Empire Minerals Ltd. (NEM) today announced that 23 priority drill targets have been confirmed at the Churchill Diamond Project. The priority targets are slated to be drill tested during a program scheduled to begin between May 15-20th.

The ground geophysical program announced on March 5, 2003 has been completed and the crew demobilised from site. The aim of the program was to collect ground geophysical data over priority targets identified in the 2002 airborne magnetic survey. During the program, 185 line-kilometres of total magnetic field surveys were conducted over 30 targets. On 19 of these targets, 60.4 line-km of horizontal loop electromagnetic (HLEM) data were acquired. Results from this program have been used to select targets for the up-coming drilling campaign and have identified 19 high priority and four moderate priority drill targets.

"The recent ground geophysical program has identified a number of high quality drill targets," says Pamela Strand, President of Shear Minerals. "This coupled with our favourable mineral chemistry, suggests that there is the potential for the discovery of diamondiferous kimberlites."

The Churchill Diamond Project, totaling more than 1.1 million acres, is located in Keewatin, Nunavut. The partners are optimistic that this year's exploration may result in the discovery of an entirely new kimberlite cluster at Churchill. In the past year, Shear has advanced the project to the drill-ready stage by conducting a comprehensive exploration program that included kimberlite indicator mineral sampling, prospecting and geophysics. In January 2003, the partners approved a budget of $2.5 million program, that includes additional land acquisition, airborne and ground geophysical surveys, heavy minerals sampling, prospecting and drilling. All programs are under the supervision of Dean Besserer, P. Geol., of APEX Geoscience Ltd., a qualified person under NI 43-101.

Shear holds a vested 51% interest and is operator of the Churchill Diamond Project; Hunter holds the remaining 49% participating interest. Northern Empire has an Option to earn into a 35% interest at Churchill by carrying Hunter for $750,000 in exploration expenditures.

This news release contains forward-looking statements regarding ongoing and upcoming exploration work and expected geology, geological formations and structures. Actual results may differ materially from those anticipated in these statements.

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