[Marinir] {Disarmed} Ashburton Ventures Inc. and Premier Gold Mines Ltd. Sign LOI on Golden Edge Property/Discuss Strategic Alliance for Future Projects

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http://www.ashburtonventures.com/index.php 

ASHBURTON SIGNS LETTER OF INTENT FOR THE GOLDEN EDGE PROPERTY AND BEGINS 
DISCUSSION FOR STRATEGIC ALLIANCE WITH PREMIER GOLD MINES 

ASHBURTON VENTURES INC. ( ABR 

http://www.stockwatch.com/Quote/Detail.aspx?action=go&symbol=ABR&region=C&lookup=symbol&snapshot=default 

TSX:V) (ARB-FRANKFURT) ("Ashburton" or the "Company") reports that it 
has signed a letter of intent (LOI) with Premier Gold Mines Limited 
(PG-TSX; ‘Premier') to option the Golden Edge property, located 50 
kilometers (31 miles) east of Winnemucca, Nevada. Premier and Ashburton 
have also entered into discussions regarding additional opportunities to 
work together in advancing certain prospective Premier projects and 
assessing additional opportunities that could be beneficial to both 
companies. 

The Golden Edge property is positioned in the Battle Mountain-Eureka 
trend, roughly 26 kilometers south of the Turquoise Hill Mine (operated 
by Barrick Gold Corporation) and eight kilometers north of the Lone Tree 
Mine (operated by Newmont Mining Corporation). The Battle Mountain 
Eureka trend is a linear feature defined by the presence of gold and 
silver deposits that includes a number of operating mines. Many of the 
deposits are associated with the main structure and with areas of 
intersecting structures. The Lone Tree Mine is associated with a 
north-south fracture zone called the Valmy Fault Zone, which is about 90 
metres wide and can be identified in regional aeromagnetic surveys. The 
Valmy Fault Zone extends northward and intersects the western parts of 
the Golden Edge property. Previous work on or near to the property 
includes CSAMT, reflection seismic, and soil geochemical surveys, and 
roughly 1,700 meters of drilling distributed over six RC drill holes. As 
part of the year one work commitment, this data will be reviewed with 
the intent of identifying areas for drilling with a focus on the Valmy 
Fault Zone. 

Subject to approval, Ashburton will have the right to purchase a 50% 
interest in the project and to establish a 50%-50% joint venture 
agreement between the Company and Premier through payment of $20,000 
upon signing of the agreement, with additional payments and exploration 
totalling $3.13 million by the end of year three of the agreement. 
Ashburton shall have up to 60 days from the date of signing the LOI to 
perform due diligence on the property. 

The Company has also entered into discussions with Premier, whereby 
Ashburton would assist Premier in assessing new gold exploration 
opportunities in North America as identified by Premier, or 
independently identified by Ashburton. Funding for the arrangement would 
be raised either partially through additional Ashburton share purchases 
by Premier, or through independent financing by Ashburton. Identified 
projects would become subject to earn-in style Option and/or Joint 
Venture Agreements between the Companies. 

The technical contents of this release were approved by Dr. Tom 
McCandless, P.Geo., Vice President, Exploration for Ashburton and a 
qualified person as defined by National Instrument 43-101. 

Premier Gold Mines Limited is one of North America's leading exploration 
companies with a high-quality pipeline of projects focused in proven, 
safe and accessible mining jurisdictions in Canada and the United 
States. The Company's portfolio includes significant assets in world 
class gold mining districts such as Red Lake, Musselwhite and Geraldton 
in Ontario and the Carlin Trend in Nevada. 

Ashburton Ventures is a junior exploration company actively seeking 
mineral opportunities for the benefit of all its stakeholders. 

ON BEHALF OF THE BOARD 

Michael England, President 

For further information contact: 

Telephone: (604) 683-3995 

Forward-Looking Statement: 

Some statements in this news release contain forward-looking information 
that involves inherent risk and uncertainty affecting the business of 
Ashburton Ventures Inc. Actual results may differ materially from those 
currently anticipated in such statements. 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. 

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