NWT Mineral Exploration

[dimonfind]

Diamond explorer Shore Gold Inc. reports 2004 loss of $1.5 million
Updated at 16:46 on March 1, 2005, EST.

http://www3.cjad.com/content/cp_article.asp?id=/global_feeds/CanadianPress/BusinessNews/b0301105A.ht...

SASKATOON (CP) - Shares of Shore Gold Inc. were up more than 10 per cent Tuesday as the diamond exploration company reported a loss of 1.5 million last year.

Shares in the company (TSX:SGF) were up 58 cents or about 12 per cent at $5.30 in trading on the Toronto Stock Exchange.

The loss for the company, which developing its Star Kimberlite property in northern Saskatchewan, amounted to three cents per share for 2004. The company lost $1.2 million or three cents per share in 2003.

Shore Gold, which had $28.7 million in cash at Dec. 31, did not report revenue for the year.

Last month, the company said a review of a parcel of diamonds its Star Kimberlite deposit found a modelled value of $135 US per carat.

The modelled value is determined using statistical methods to estimate the average value of diamonds that will be recovered from a future mine at current diamond prices.

The Canadian Press, 2005