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Mining Explorers 2009: Shear Minerals Ltd.


Last updated 11/1/2009 at Noon


President and CEO: Pamela D. Strand

CFO: Greg Hayes

Shear Minerals Ltd. is a Canadian-based exploration company focused on diamond exploration in the Canadian North where it explores in established diamond districts and has discovered new ones since 2001.

Shear currently has a portfolio of 10 diamond projects in Michigan, Alberta, Northwest Territories and Nunavut, eight of which are drill-ready.

The company worked in 2009 to advance its 62.3 percent-owned Churchill Diamond, a venture it has taken from the conceptual grassroots stage to a top-ranked global diamond project with diamond rights to more than 760,000 acres in the Kivalliq region of Nunavut (41 percent of Canada's kimberlites in 2007; 36 percent in 2008).

Shear and 37.7 percent-partner Stornoway Diamonds Corp. inked a pact Aug. 10 with Kennecott Canada Exploration Inc. to jointly explore the 70,000-acre northern portions of the Churchill Diamond Project, now referred to as the Chesterfield Inlet Diamond Project.

Cash and short-term deposits:

C$302,258 (at May 31, 2009)

Working capital:

negative C$120,250 (at May 31, 2009)

Market Capitalization: C$10 Million

Suite 100, 9797 - 45 Ave.

Edmonton, AB

Canada T6E 5V8

Tel: 780-435-0045

Fax: 780-989-0322


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