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"), will shortly commence an extensive summer program on the Foxtrot property in north-central Quebec. The program is designed to discover new kimberlitic bodies and advance the evaluation of the Renard cluster and Lynx dyke system. Results from this program will impact the evaluation of the economic potential of the Foxtrot property.

During the program, the joint venture will evaluate and prioritize geophysical targets associated with seven very promising indicator mineral anomalies. Field activities will also include the collection of mini-bulk samples through trenching of potentially high-grade material from the Lynx dyke system and the northern portion of Renard 4. In addition, up to 20 core holes will be drilled at Renard 2, 7, 8, 9 and 10, five of the nine kimberlitic bodies that constitute the Renard cluster. Included in this drilling is the collection of a mini-bulk sample from Renard 8. The resulting tonnage information and diamond content data from the work on the Renard cluster will be included in an analysis of potential mining scenarios for the cluster. This analysis will guide the joint venture in determining the next steps to advance the project in late 2005 and early 2006. These steps could include the collection of a larger bulk sample.

Six of the nine Renard bodies are located within the 50 hectare Core Area. Five of these bodies, Renard 2, 3, 4, 65 and 9, currently have an aggregate drill-estimated tonnage of 22.4 million tonnes. Large samples from these bodies have also returned strong diamond results. As reported on April 26, the modeled value of US$88 per carat established for diamonds from Renard 2, 3, 4 and 65 exceeds the current average world price for rough diamonds.

The demonstrated prospectivity of the Foxtrot property provides a strong basis for further exploration. Work this summer will include prospecting, indicator mineral sampling and ground geophysical surveys to be conducted in advance of target drilling planned for the latter part of the third quarter. Approximately 15 exploration holes will be drilled to test existing targets as well as new targets identified as a result of the summer's activities.

The continued investigation of three promising unexplained indicator mineral anomalies, located in close proximity to the Renard cluster, is a key component of the summer program. These indicator mineral anomalies are shown on the map available at: http://www.ashton.ca/projects_quebec_renard_anomaly_map.html.

One of the three anomalies is the North Anomaly, which is located six kilometres north of the Renard cluster. Samples collected within the North Anomaly have returned very promising indicator mineral counts including G10 and eclogitic pyrope garnets with compositions supporting diamond potential. Kimberlitic pebbles, cobbles and boulders have also been recovered in the area. In addition, five till samples from the North Anomaly have returned diamonds greater than 0.4 mm. In the joint venture's view, the narrow kimberlitic dykes intersected by drilling within this area in 2004 do not adequately explain the anomalous indicator mineral results.

Another of these anomalies, the Southeast Anomaly, is located approximately three kilometres southeast of the Renard Core Area. It is characterized by the presence of kimberlitic cobbles and strong indicator mineral results. The third anomaly, now referred to as the South Anomaly, is located 2.6 kilometres south of Renard 2 and has mineralogical characteristics similar to those of the Renard bodies. Kimberlitic pebbles have also been found at this site.

As a result of the property-scale sampling program completed in 2004, four further anomalous indicator mineral occurrences have been identified on the Foxtrot property. Detailed follow-up samples collected from these areas will be processed on a high-priority basis at Ashton's North Vancouver laboratory. The resulting data will assist the joint venture in ranking potential drill targets in order of priority.

High priority anomalies generated by a detailed airborne geophysical survey of 19,000 line-kilometres completed in early 2005 will also be the subject of prospecting, detailed geological mapping and ground geophysical surveys during the summer program.

Located two kilometres to the west of the Renard Core Area, the Lynx dyke system encompasses the Lynx North, Lynx and Lynx South areas. As announced on May 26, the limited drilling so far conducted suggests that the dyke system has an average cumulative true thickness of 1.9 meters over two kilometres of strike length in the Lynx and Lynx South areas. A total of 8.47 tonnes of surface boulders collected from these areas returned an average diamond content of 194 carats per hundred tonnes ("cpht") including diamonds weighing 5.66, 1.17 and 0.96 carats.

The joint venture continues to be encouraged by the Lynx dyke system and will escalate its evaluation through a trenching program to be conducted during the summer field season. An estimated 30 tonnes of in-situ dyke material will be collected from a series of sites along Lynx and Lynx South. The goal of this initiative is to estimate the diamond content of the dyke material and to determine the extent to which commercial-sized diamonds are present, in anticipation of further definition drilling.

The data generated to date suggest that significant potential exists to identify additional tonnage within the Renard Core Area bodies. During the summer program, the joint venture plans to carry out further drilling at Renard 2, 8 and 9 to better define the size and tonnage potential of these bodies. Renard 8 is located 150 metres east of Renard 4 and 200 metres northwest of Renard 2. The drilling of Renard 8 will result in the collection of several tonnes of kimberlitic material, which will provide a preliminary indication of the diamond content of this body.

Approximately ten tonnes of kimberlitic material will be excavated by trenching from the northern portion of Renard 4 to further investigate the existence of near-surface, high-grade material in this body. As announced on December 22, 2004, a 1.77 tonne sample of material collected from an outcrop at the northeastern corner of Renard 4 returned an estimated diamond content of 175 cpht.

Limited drilling will also be conducted at Renard 7 and 10, located approximately two kilometers north of the Core Area, to obtain a preliminary understanding of their tonnage potential. If significant quantities of kimberlitic material are identified, the joint venture will consider the collection of mini-bulk samples.

During the winter field season, approximately six tonnes kimberlitic material was collected from Renard 9. This sample is presently being processed by dense media separation at Ashton's North Vancouver laboratory. Results are expected early in the third quarter.

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