June 30, 2004 During the spring program three electromagnetic (EM) geophysical targets were drill-tested. No kimberlite was intersected. The targets were explained by a thick layer of glacial-lacustrine clays within the overburden sequence. A thorough review of all project and regional data over the next month was to occur to determine the nature of future work.
June 8, 2004 Shear Minerals has completed its drilling of three electromagnetic geophysical targets at the XYZ project in the Northwest Territories without intersecting any kimberlite. Shear plans to focus on the Churchill properties in Nunavut where a provisional budget has been set by Shear and its partners at approximately CAD10 million.
February 28, 2003 A total of 194 kg of beach sand material was processed from which 86.16 kg of non-magnetic material was sent for caustic fusion analysis. Three diamonds were recovered measuring: · 0.44 mm by 0.42 mm by 0.28 mm using a 0.212 mm sieve;
· 0.30 mm by 0.24 mm by 0.18 mm using a 0.150 mm sieve; and
· 0.28 mm by 0.24 mm by 0.18 mm using a 0.150 mm sieve. In 2003, Shear intends to conduct a program of mineral sampling and geophysics at XYZ to move it forward to the drill-ready stage.