Ashton Mining Q3 Loss Almost Triples

Ashton Mining of Canada Inc reported a loss for the third quarter of $2.8 million compared with $1.0 million last year.

For the nine-month period ended September 30, 2004, the loss was $4.6 million versus $3.5 million in the same period of last year.

Excluding deferred exploration costs written off during the period, total corporate expenses incurred during the third quarter of 2004 are 30 percent higher compared to those incurred during the same period in 2003.

The increased costs are primarily attributable to the expenses arising from two visits to Ashton's field operations in Quebec by analysts, media representatives and officials of the provincial government, and to higher federal capital taxes for the year.

Ashton explores for diamonds in remote areas of Canada, including Alberta, Nunavut and the Northwest Territories.