New dyke discovered 1.5 kilometres south of sample location

Robert T. Boyd, President and CEO of Ashton Mining of Canada Inc. ("Ashton" or the "Corporation"), is pleased to report an estimated diamond content of 91 carats per hundred tonnes ("cpht") for a 18.4 tonne sample collected from the North Anomaly kimberlite dyke on the Foxtrot property in north-central Quebec. Additionally, summer exploration drilling conducted by Ashton and its 50:50 joint venture partner, SOQUEM INC. ("SOQUEM"), has resulted in the discovery of a new dyke within the North Anomaly area approximately 1.5 kilometres south of the first discovery and four kilometres north of the Renard cluster.

North Anomaly Dyke Diamond Results

As reported on October 13, 2005 and April 26, 2006, the North Anomaly dyke is located five kilometres north of the Renard cluster of kimberlites. The dyke has an average thickness of approximately one metre and a minimum strike length of 490 metres and remains open to the north and south along strike and down-dip.

During the summer field season, the joint venture collected a 50 tonne sample from the dyke by trenching. After processing by dense media separation at Ashton's North Vancouver laboratory, 18.4 dry tonnes of this material returned 16.7 carats of diamonds larger than 1.18 mm using a square mesh screen, for an estimated diamond content of 91 cpht. The two largest diamonds recovered are pale brown tetrahexahedroidal stones weighing 0.85 and 0.57 carats. The remaining 30 tonnes of material is being stored on the Foxtrot property for processing at a later date.

New North Anomaly Dyke Intersection

The joint venture discovered a new dyke associated with the North Anomaly by drilling three core holes at two setups 1.5 kilometres south of the trench sample location. Drill data suggest that this dyke has a similar true width and dip to the North Anomaly dyke. Additional drilling will be required between the bodies to determine if they are related.

Importance of Foxtrot Property Dyke Systems

Kimberlite dyke systems on the Foxtrot property have the potential to enhance a future diamond mining operation centred on the Renard cluster. The Lynx, Hibou, Southeast Anomaly and North Anomaly dyke systems all have been proven to be significantly diamond-bearing and are situated within five kilometers of the Renard cluster. "These kimberlite dyke systems with encouraging average thicknesses and considerable strike length collectively have the potential to host a significant quantity of diamonds," said Robert Boyd. "The confirmation of the economic merits of the Renard cluster would increase the economic potential of the dykes due to the benefits of having the processing facilities and infrastructure already in place."

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 diamond laboratory facilities in North Vancouver.

SOQUEM INC. is a wholly owned 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 a Qualified Person pursuant to National Instrument 43-101. Mr. Clements is responsible for the design and conduct of the Corporation's exploration programs and for the verification and quality assurance of analytical results.

For further information, please contact: