Shear Announces Commencement of 2004 Churchill West Program

07/19/2004

International Samuel Exploration Corp. (SAZ:TSXV), Shear Minerals Ltd. (SRM:TSXV), Stornoway Diamond Corporation (SWY:TSXV) and BHP Billiton announced today that the 2004 Churchill West Property exploration field program has commenced.

Crews have been mobilized to the Property and collection of an initial 650 in-fill regional till samples has commenced and is expected to be completed by late July. Approximately 250 samples of the 2004 total budgeted 900 samples are being held in reserve and will be allocated to specific areas-of-interest requiring greater detailed coverage. The 250 outstanding till samples will be utilized to follow up anomalous mineral chemistry, delineate kimberlite indicator mineral trains and analyze the areas immediately down-ice from priority geophysical targets.

In addition to the till collection campaign, ground geophysics and a drilling program on the Property will bring the proposed 2004 budget to $1.75 million.

In 2003 a three-hole pilot exploratory drill program discovered two kimberlites on the Property (Sept. 10 and Sept. 18, 2003 press releases) with one kimberlite, target CW3001, returning 12 diamonds from a 128.5-kilogram sample (Dec. 19, 2003 press release). "The purpose of this year's program is to focus in and test areas on the Churchill West Property displaying a high diamond potential signature" states Samuel President, Mike Sieb.

The Churchill West project encompasses 514,000 acres located near the community of Rankin Inlet in the Kivalliq region of Nunavut. Shear Minerals Ltd. ("Shear") has a 51-per-cent interest and is operator on the Churchill West diamond project. Stornoway Diamond Corporation ("Stornoway") and BHP Billiton Diamonds Inc ("BHPB Billiton") have 35-per-cent and 14-per-cent interests, respectively. International Samuel Exploration Corp. has an option to earn into a 65-per-cent interest by expending $1-million over two years of which $650,000 has been spent to date. Once Samuel has vested, Shear, Stornoway and BHP Billiton have the right to buy back a total of 10-per-cent interest from Samuel for $100,000 cash. The 2004 Churchill West field program is under the supervision of Jennifer Burgess, PGeol, a qualified person under NI 43-101.

On behalf of the Board
SHEAR MINERALS LTD.
/s/ "Pamela Strand"
Pamela Strand, P. Geol.
President

For further information, please contact the Company at 780-435-0045 or 1-866-298-9695
www.shearminerals.com

 

On behalf of the Board
STORNOWAY DIAMOND CORPORATION
/s/ "Eira Thomas"
Eira Thomas
President

For further information, please contact the Company at 604-687-7545 or 1-888-338-2200
www.stornowaydiamonds.com

 

 

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.

The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.