EDMONTON, Alberta - Shear Minerals Ltd. (SRM:TSXV) ("Shear") and Northern Empire Minerals Ltd (NEM:TSXV)("Empire") are pleased to announce they have entered into a Letter of Intent with International Samuel Exploration Corp. (SAZ:TSXV)("Samuel") under which Samuel will have the
option to acquire up to a 65% working interest in the newly acquired 500,000 acre Churchill West Diamond Project located in the Kivalliq Region of the Nunavut Territory.

Under the terms of the agreement, Samuel can exercise its option by: issuing 200,000 common shares of Samuel upon regulatory approval; reimburse 100% of property acquisition costs; and incur $1 Million in exploration expenditures over two years, of which $500,000 must be spent before December 31, 2003. Upon vesting, a joint venture will be established and both Shear and Empire shall have the right to buy back a 10% interest within 90 days for the sum of $100,000 cash. Shear shall be the operator of the project. Shear, Empire and Samuel shall have joint first rights of refusal on the non-diamond rights proportionate to their respective interests. The property is subject to a 2.0% gross overriding royalty and net smelter royalty by the Hunter Exploration Group.

The Churchill West Diamond Project adjoins the main Churchill Diamond Project that now totals more than 1.5 million acres. Exploration results to date at Churchill West Property include a limited airborne magnetics survey that has outlined over 20 geophysical targets suggestive of kimberlite for follow-up as well as 6 anomalous indicator mineral samples. The 2003 program at Churchill West is planned to include additional airborne geophysical surveys, sampling, ground geophysical surveying, prospecting and drilling.

The partners are optimistic that this year's exploration may result in the discovery of an entirely new kimberlite cluster at Churchill Diamond Project. The 2003 drilling program is expected to commence in early June. 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.

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