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ASHBURTON COMMENCES WORK PROGRAM IN YUKON
July 22, 2009, VANCOUVER, B.C. – ASHBURTON VENTURES INC. (ABR-TSX:V)
(“Ashburton” or the "Company”) is pleased to announce the commencement
of field work on their holdings in the Yukon adjacent to Underworld
Resources White Gold discovery. A geologic mapping and geochemical soil
sampling crew moved into the properties over this past weekend to begin
work on the first phase of exploration of the area. Ashburton claims
are immediately adjacent to the claims controlled by Underworld and
approximately 10 kilometers north and slightly east of Golden Saddle.
Analysis of the published regional geologic mapping suggests that both
areas are hosted by similarly aged metamorphic rocks to those at the
Golden Saddle discovery.
Work on the Ashburton ground is being directed by David Hedderly-Smith, Ph.D., P.G. who is accompanying the
crew in the field. He has done work in similarly aged rocks in east central Alaska, 100 kilometers to the northwest,
off and on since the 1970s.
Dr. Hedderly-Smith, a Qualified Person as defined by N.I. 43-101, has approved the information in this press
The Company also announces it has arranged a non-brokered private placement of up to 5 million units at a price of
$0.10 per unit for gross proceeds of up to $500,000.
Each unit consists of one common share in the capital of the company and one common share purchase warrant.
Each warrant entitles the holder to purchase one additional share at a price of $0.12 per share for a period of 18
months from the date of issuance.
A finder’s fee may be payable on each private placement of up to 10%
cash and up to 10% share purchase "B" warrants. Each "B" warrant will
entitle the holder to purchase one common share for $0.10 per share for
a period of one year. The private placement is subject to the
acceptance for filing by the TSX Venture Exchange.
The proceeds from the private placement will be used towards work programs and for general working capital.
Ashburton Ventures is a recently listed junior exploration company. The Company’s goal is to acquire highly
prospective base and precious metal properties for the benefit of its stakeholders.
ON BEHALF OF THE BOARD
Michael England, President
For further information contact:
Telephone: (604) 683-3995
Facsimile: (604) 683-3988
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the
TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.