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ASHBURTON VENTURES AQUIRES GOLD PROPERTY ADJOINING INTERNATIONAL WAYSIDE GOLD MINES LTD. ON BARKERVILLE MOUNTAIN, BC
October 8, 2009, VANCOUVER, B.C. – ASHBURTON VENTURES INC. (ABR-TSX:V) (“Ashburton” or the "Company”) is pleased to announce the Company has entered into an agreement to acquire 5 mining claims comprising over 2100 hectares adjacent to the International Wayside Gold Mines Ltd. property which was the site of the discovery hole announced on October 7, 2009 by International Wayside Gold Mines Ltd. The terms of the agreement are a cash payment of $20,000 upon signing, the issuance of 750,000 shares of Ashburton upon TSX Venture Exchange approval plus a 2% NSR of which 1% can be purchased for $1 million. The Company has also committed to spend $25,000 on exploration prior to July 1, 2010. The claims are located to the north of, and adjacent to, the property in the Bonanza Ledge Zone owned by International Wayside Gold Mines Ltd., near the historic town of Barkerville, British Columbia, on Barkerville Mountain.
On October 7, 2009, International Wayside Gold Mines Ltd. announced that drill hole BC09-12 intercepted gold mineralization from 3.048 metres (10 feet below surface) to 87.48 metres (287 feet below surface):
· 84.4 metres (277.0 feet) of 16.5 grams per tonne (g/t) (0.481 ounce per ton) gold;
· Including 37.5 metres (123.1 feet) of 36.1 g/t (1.052 ounces per ton) gold.
The Company is very excited by this new discovery area with the promising intercept announced by International Wayside Gold Mines Ltd. and is pleased to have secured a sizeable land position in the area.
This transaction is subject to acceptance by the TSX Venture Exchange.
Ashburton Ventures is a junior exploration company actively seeking mineral and energy opportunities for the benefit of all its stakeholders.
ON BEHALF OF THE BOARD
Michael England, President
For further information contact:
Telephone: (604) 683-3995
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.