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August 13, 2009, VANCOUVER, B.C. – ASHBURTON VENTURES INC. (ABR-TSX:V) (“Ashburton” or the "Company”) is pleased to announce a non-brokered private placement of $300,000 through the sale of 3,000,000 flow-through units (“FT Units”) at $0.10 each to the MineralFields Group. Proceeds of this financing will be used towards the Company’s properties in Red Lake and the Yukon.

The Company will pay a finder’s fee to Limited Market Dealer Inc. for this financing equal to 7.5% cash and 5% broker warrants and a finder’s find to Industrial Alliance Securities equal to 2.5% cash and 5% broker warrants.

“We are very pleased to be entering into this relationship with MineralFields Group”, said Mike England, President and CEO. “This is an important milestone in the growth of Ashburton Ventures Inc. and we look forward to working with MineralFields Group as we develop our holdings in the regions.”

About MineralFields, Pathway and First Canadian Securities ® MineralFields Group (a division of Pathway Asset Management), based in Toronto and Vancouver, is a mining fund with significant assets under administration that offers its tax‐advantaged super flow‐through limited partnerships to investors throughout Canada as well as hard‐dollar resource limited partnerships to investors throughout the world. Pathway Asset Management also specializes in the manufacturing and distribution of structured products and mutual funds (including the Pathway Multi Series Funds Inc. corporate‐class mutual fund series). Information about MineralFields Group is available at First Canadian Securities ® is active in leading resource financings (both flow‐through and hard dollar PIPE financings) on competitive, effective and service‐friendly terms, and offers investment banking, mergers and acquisitions, and mining industry consulting, services to resource companies. MineralFields and Pathway have financed several hundred mining and oil and gas exploration companies to date through First Canadian Securities ®.

The private placement is subject to regulatory approval and subject to TSX Venture Exchange acceptance for filing.

"Michael England"
Michael England, President

For further information contact:
Telephone: (604) 683-3995
Facsimile: (604) 683-3988
Email: [email protected]

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.

Contact Us

  • Ashburton Ventures Incorporated
    1240-789 West Pender St.
    Vancouver, BC, V6C 1H2
  • +1-604-683-3995
  • +1-888-945-4770
  • +1-604-683-3988
  • [email protected]
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