Ashburton Acquires Uranium Project Adjoining Areva/Cameco and Denison in Athabasca Basin

Ashburton Acquires Uranium Project Adjoining Areva/Cameco and Denison in 
Athabasca Basin 
VANCOUVER, BRITISH COLUMBIA -- (Marketwire) -- 03/21/13 -- ASHBURTON
VENTURES INC. (TSX VENTURE:ABR)(FRANKFURT:ARB) ("Ashburton" or the
"Company") is pleased to announce that it has entered into an
agreement with an arms-length vendor by which the Company can earn a
100% interest in the Bernick Lake Uranium Project, which covers
approx. 1,800 ha on the eastern side of the Athabasca Basin,
Saskatchewan, located approximately 11.6 km southeast of Cameco's
Cigar Lake Uranium Mine. The primary target at Bernick Lake is a
broad subsurface EM anomaly lying within a magnetic low identified
through two GEOTEM surveys and an airborne Gravity survey. The
project lies in the highly prospective corridor of the Eastern
Athabasca Basin and other claimholders in the area include Cameco
Corporation to the west and Denison Mines to the east. In this area
the basinal unconformity lies at relatively shallow depths, between
240-270m), and the geophysical target is interpreted as lying above
this depth. In an interpretation report by Michael J. Cain, P. Eng.,
(Saskatchewan Assessment File 74H-0060) the Bernick Lake subsurface
anomaly was interpreted to be structurally controlled and peaks in
the X
 and Z channels further suggested that "there could be a series
of conductive trends and possible some complex geology and
structure." In addition, the target zone coincided with gravity highs
observed in a Falcon Airborne Gravity Gradiometer Survey, flown by
Fugro Airborne Services for AREVA, and suggested that this area has
been subject to alteration events that have resulted in
silicification. 
With regard to the acquisition, Company President Michael England
commented, "In consideration to its proximity to the Cigar Lake
Uranium Mine (with reserves of over 200M pounds U3O8) combined with
high-priority exploration targets identified through high quality
prior work, Ashburton is extremely excited about this key acquisition
of boardwalk realty in the prolific eastern Athabasca Basin. With
this second acquisition in the basin coupled with the re-emergence of
the uranium space, the Board hopes it can increase shareholder value
in the short and long term."  
The Company can earn a 100% interest in the Bernick Property by
paying $100,000 to the vendor in year one and issuing 1,400,000
common shares over three years. The Company must make a final payment
in year three of $1,000,000 and complete $3,000,000 in exploration
expenditures on the property within four years. A 1% NSR has also
been granted to the vendor, of which 0.5% may be purchased by the
Company for $1,000,000. A finder's fee will be payable. This
transaction is subject to TSX Venture Exchange approval.  
The technical content of this release was approved by Paul D. Gray,
P.Geo. Mr. Gray is a qualified person as defined by National
Instrument 43-101.  
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  
Neither the 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. 
Contacts:
Ashburton Ventures Inc.
Michael England
President
(604) 683-3995
 
 
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