EDMONTON, ALBERTA--(Marketwire - Nov. 20, 2007) - Shear Minerals Ltd. (TSX VENTURE:SRM), International Samuel Exploration Corp. (TSX VENTURE:SAZ), New World Resources Corp. (TSX VENTURE:NW), and Mantle Resources Inc. (TSX VENTURE:MTS) today announced the completion of the Stage 1 exploration program for the Afridi Lake Diamond Project that has confirmed eight initial priority geophysical targets suggestive of kimberlites ready for drill testing.
In June and July the partners completed a 2,850 line kilometers high resolution airborne gravity gradient survey flown by Bell Geospace of Houston, Texas. It was proven that the density contrast between the surrounding rock and the known kimberlites was great enough to register an interpretable gravity gradient anomaly of two hectares or larger. A review of the geophysical data by independent consultant Christopher Campbell of Intrepid Geophysics, Vancouver B.C., identified an initial 24 targets worthy of follow up, including nine high priority. These isolated gravity low targets are suggestive of kimberlite.
In August a 10 person crew completed ground follow up surveys where more than 50 targets were ground checked and a total of 206 line km of ground magnetics were completed by Shear and 791 gravity stations were completed by Quadra Surveys of Barriere, BC. As a result eight targets have been chosen for follow up with spring drilling. Geophysical images of the drill targets will be available at www.shearminerals.com.
"The airborne gravity survey at the Afridi Project was a huge success. It clearly defined the known kimberlites as well as outlined a number of potential new targets that will be drill tested in the early spring of 2008," said Pamela Strand, President and CEO of Shear Minerals Ltd. "This region hosts a number of economic kimberlites and the Afridi Project has not seen systematic exploration in a few years."
This program is part of a $1,200,000 exploration program that includes the drill testing of priority targets scheduled for the spring of 2008. All necessary land use permits are in place for this scheduled work.
The Afridi Project is comprised of 56,000 acres of claims and mineral leases within the Lac de Gras Diamond District and adjoins both the DIAVIK Diamond Mine and the WO claims which host the DO-27 kimberlite. The Afridi Project is host to five known diamond bearing kimberlites and there are more than 40 known kimberlites within 40 kilometers of the Project. Shear Minerals Ltd. holds a 58.2% interest in the Afridi Project and is the operator. International Samuel has a 25.4% interest and New World Resources and Mantle Resources each hold 8.2%.
Shear Minerals Ltd. is a Canadian-based exploration company focused on diamond exploration in the Canadian North where it explores in established diamond districts and has discovered new ones. Shear currently has a portfolio of eleven diamond projects, seven of which are drill-ready. The Company has advanced its 58.14%-owned Churchill Diamond property in Nunavut from a conceptual grassroots project to a new kimberlite district over 70 kimberlites.
On behalf of the Board
SHEAR MINERALS LTD.
Pamela Strand, P. Geol., President
This news release may contain forward looking statements, being statements which are not historical facts, including, without limitation, statements regarding potential mineralization, exploration results, resource or reserve estimates, anticipated production or results, sales, revenues, costs, "best-efforts" financings or discussions of future plans and objectives. There can be no assurance that such statements will prove accurate. Such statements are necessarily based upon a number of estimates and assumptions that are subject to numerous risks and uncertainties that could cause actual results and future events to differ materially from those anticipated or projected. Important factors that could cause actual results to differ materially from either of the Companies' expectations are in Company documents filed from time to time with the TSX or the TSX Venture Exchange and provincial securities regulators, most of which are available at www.sedar.com. The Companies disclaim any intention or obligation to revise or update such statements.
FOR FURTHER INFORMATION PLEASE CONTACT:
Shear Minerals Ltd.
Pamela Strand, P. Geol.
(780) 435-0045 or Toll Free: 1-866-298-9695