Replies to post #4 on Shear Minerals fka SRM

[Rocketred]

FOR: SHEAR MINERALS LTD.

TSX VENTURE SYMBOL: SRM

AND NORTHERN EMPIRE MINERALS LTD.

TSX VENTURE SYMBOL: NEM

JUNE 7, 2003 - 17:12 ET

Shear Minerals Ltd. and Northern Empire Minerals Ltd.:
First Kimberlite Intersected; Churchill Diamond Joint
Venture

EDMONTON, ALBERTA and VANCOUVER, BRITISH COLUMBIA--Shear Minerals
Ltd. (SRM: TSXV), Northern Empire Minerals Ltd. (NEM:TSXV) and
BHP Billiton today announced that the 2003 drill program at the
Churchill Diamond Program has commenced and that the initial
drill hole has discovered the first kimberlite pipe on the
property.

Drill hole number CD001 was designed to test CK151, a circular
magnetic low anomaly. The vertical drill hole tested the centre
of the anomaly and intersected kimberlite at a depth of 35 feet.
Michael Dufresne, P. Geol. of APEX Geoscience Ltd., is the
Qualified Person on site and describes the macrocrystic
kimberlite and breccia with visible olivine macrocrysts and
picroilmenite. The hole remains in kimberlite at a depth of 287
feet. Core has been sent for petrographic analysis to R.L.
Barnett Geological Ltd. in order to determine and confirm the
mineralogy of the kimberlite.

"We hit kimberlite on the first drill-hole and within the first
12 hours of drilling which is very encouraging," said Pamela
Strand, President and CEO of Shear. "The much anticipated drill
program is now well underway."

A review of last year's 16,307 line-km aeromagnetic survey
completed on the initial 500,000 acre claim block identified 217
kimberlite targets at the Churchill property. In March this year,
ground geophysical data was acquired on 30 of these anomalies
resulting in 23 priority drill targets. This phase of drilling is
designed to test a minimum of 15 of these targets. A Fugro
helicopter magnetic-electromagnetic survey has recently been
completed over these high priority areas.

Shear holds a vested 51% interest and is operator at Churchill.
As per the June 2, 2003, news release BHP Billiton has purchased
a 14% interest in Churchill for $3 million and has also agreed to
fund the costs of collecting, sampling and processing the initial
200 tonnes of kimberlite. Northern Empire is earning into a 35%
interest at Churchill by incurring $750,000 in exploration
expenditures.

"Given our kimberlite discovery we are optimistic that this
year's exploration may result in the discovery of an entirely new
kimberlite cluster at Churchill Diamond Project," said Ms.
Strand. The joint venture has accumulated additional lands making
the Churchill Diamond Project total more than 1.5 million
contiguous favorable acres. In the past year, the joint venture
has advanced the project to the current drill-ready stage by
conducting a comprehensive exploration program that included
kimberlite indicator mineral sampling, prospecting and
geophysics. In January 2003, the partners approved a budget of
$2.5 million program. All programs are under the supervision of
Dean Besserer, P. Geol., of APEX Geoscience Ltd., a qualified
person under NI 43-101.

[Rocketred]

Shear and Empire identify second Churchill kimberlite
Shear Minerals Ltd SRM
Shares issued 26,920,727 Jun 6 2003 close $ 0.68
Monday June 9 2003 News Release
Also Northern Empire Minerals Ltd (C-NEM) News Release
Ms. Pamela Strand of Shear Minerals reports
NORTHERN EMPIRE MINERALS LTD. AND SHEAR MINERALS LTD.: SECOND KIMBERLITE DISCOVERED AT CHURHILL
Shear Minerals, Northern Empire Minerals and BHP Billiton have discovered a second kimberlite on the Churchill diamond project. Drill hole No. CD002 was designed to test anomaly CK156, a circular magnetic low anomaly 150 metres by 150 metres located six kilometres north of CD001. The first two kimberlites have been named Thunder and Lightning ("Kadluk" and "Kraumalak" in Inuktituk).
"The first two targets drilled have resulted in separate kimberlite discoveries," said Pamela Strand, president and chief executive officer of Shear. "Now that we know there are kimberlites at Churchill, we have added confidence that the source of the outstanding mineral chemistry we have observed is located on the property."
Said John Robins, president and CEO of Empire, "These discoveries clearly confirm our belief that Churchill will become one of Canada's leading diamond projects."
The current phase of drilling is designed to test a minimum of 15 high-priority kimberlite targets of the 217 geophysical targets identified to date on the property. Drilling continues and additional results will be forthcoming. The Churchill diamond project totals more than 1.5 million acres and is located near the community of Rankin Inlet, Nunavut.
Shear has a 51-per-cent interest and is operator of all exploration programs. Northern Empire is earning into a 35-per-cent interest by incurring $750,000 in exploration expenditures. BHP Billiton has a 14-per-cent interest in Churchill and has also agreed to finance the costs of collection, sampling and processing the initial 200 tonnes of kimberlite.
All programs are under the supervision of Dean Besserer, PGeol, of APEX Geoscience Ltd., a qualified person under NI 43-101.

(c) Copyright 2003 Canjex Publishing Ltd. http://www.stockwatch.com

old url (better for printing)