Robert T. Boyd, President and CEO of Ashton Mining of Canada Inc. ("Ashton" or the "Corporation"), is pleased to announce that Ashton and its 50:50 joint venture partner, SOQUEM INC. ("SOQUEM"), have completed the winter drilling program in the Core Area of the Renard cluster of kimberlitic bodies located on the Foxtrot property in north-central Quebec. The program encompassed Renard 2, 3, 4 and 9, four of the six kimberlitic bodies located within the Core Area. As a result of this work, the joint venture has identified an additional 1.9 million tonnes of kimberlitic material at Renard 2, bringing the estimated size of this body to 4.2 million tonnes. In addition, the drilling program has increased the tonnage estimate at Renard 3 to 1.7 million tonnes. With this additional drilling, the total estimated tonnage of Renard 2, 3, 4 and 65 has now increased to 20.0 million tonnes.

Renard 9, located 50 metres south of Renard 4, is interpreted to vary in width from 25 to 55 metres and has a strike length of approximately 160 metres. As reported on March 3, 2005, a 6.04 tonne sample collected from this body in 2004 returned 5.56 carats of diamond, including a stone weighing 3.26 carats, for an estimated diamond content of 92 carats per hundred tonnes ("cpht"). Drilling data generated at this body during the winter program are currently being interpreted. A potentially significant zone of kimberlitic material has been discovered at the northeastern end of Renard 9 at approximately 250 metres below surface. This material was not detected by geophysical surveys conducted to date and merits further investigation through drilling. These results are expected to further increase the total estimated tonnage within the Core Area.

The joint venture is encouraged by the identification of additional tonnage within the Core Area and the strong potential to further increase the tonnage with additional drilling. The incremental growth of tonnage within the Core Area is likely to positively impact a future evaluation of the economic potential of the Renard cluster.

Increased Tonnage -- Renard 2, 3, 4 and 65

During the winter program, 34 core holes were drilled into Renard 2, 3 and 4. No drilling was carried out at Renard 65. Based on the new drill data, Wardrop Engineering Inc., a geological and engineering consulting firm, has updated the tonnage estimate of the four bodies reported on February 21, 2005.

Updated Tonnage Estimates and Drilling Information

Note 1 - "RC" means reverse circulation drilling.

Note 2 - The estimated diamond content may not be representative of the overall diamond content of the individual bodies due to a number of factors, including the location of the drill holes, the small size of the sample and the recovery of the large diamonds.

Approximately 90 percent of the drill-indicated tonnage identified to date in the Core Area is located within 200 metres of the surface. Additionally, drill results from Renard 2 identified an estimated 1.8 million tonnes of "Peripheral Breccia" that is not included in the current 4.2 million tonne estimate for the body. Peripheral Breccia is defined as a zone of country rock and country rock breccia that contains more than 10 percent kimberlitic material. Further investigation of this material will be required to evaluate its diamond content and potential economic significance.

During the winter 2005 drill program, two holes extended the maximum depth of Renard 2 and Renard 3 to 370 and 360 metres below surface respectively. Each of these holes terminated in kimberlitic material. The winter drilling has not resulted in any significant change to the estimated tonnage of Renard 4 that was reported on February 21, 2005.

The tonnage estimate for the Renard 2, 3, 4 and 65 does not constitute a mineral resource. Instead, this calculation is simply an order-of-magnitude estimate of the potential tonnage of the four bodies. The tonnage was calculated by multiplying the respective interpreted volumes for each body, as determined in a three-dimensional wire frame model, by a specific gravity of 2.6 grams per cubic centimetre. The specific gravity of 2.6 is the average value determined to date for kimberlitic material collected from the Renard bodies. The model assumes an area of influence of five to ten metres around the actual drill hole intersection. In some cases, only limited drill data are available. As a result, the potential exists to revise the current tonnage estimates through additional drilling.

Current Activities Update

Further exploration drilling of the joint venture's Quebec properties is currently underway. The valuation of the parcel of diamonds recovered from Renard 2, 3, 4 and 65 is nearing completion and the results are expected before the end of April.

Ashton Mining of Canada Inc. and SOQUEM INC.

Ashton's prime objective is the discovery or acquisition of diamond prospects capable of rapid advancement to development and production. The Corporation is recognized as one of the leading explorers in the Canadian diamond industry. Ashton's competitive advantages include the significant exploration experience of its key personnel as well as its extensive in-house laboratory facilities in North Vancouver, dedicated exclusively to the Corporation's exploration projects.

SOQUEM is a wholly owned subsidiary of SGF Minéral inc., a subsidiary of the Société générale de financement du Québec ("SGF"). The mission of the SGF, an industrial and financial holding company, is to undertake economic development projects in the industrial sector in cooperation with partners and in compliance with the economic development policies of the Government of Quebec.

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.

For further information, please contact:

Robert T. Boyd          -or-          Mike Westerlund                    -or-       visit our website:
President and CEO                      Manager, Investor Relations                  www.ashton.ca
(604) 983-7750                        (604) 983-7750                                   email: contact@ashton.ca