ASHBURTON ANNOUNCES CLOSING OF NON-BROKERED PRIVATE PLACEMENT

ASHBURTON ANNOUNCES CLOSING OF NON-BROKERED PRIVATE PLACEMENT 150 150 Progressive Planet Inc.





April 12, 2010, VANCOUVER,
B.C.



– ASHBURTON VENTURES INC.
(“Ashburton” or the “Company”)

(ABR-TSX:V) is pleased
to announce the closing of its private placement (the
“Private Placement”) announced in a news release dated March 22, 2010.
Pursuant to the Private Placement, the Company issued
9,646,667units
(the

“Units”)
at a price of $0.06 per Unit for gross proceeds of $578,800.  Each Unit is comprised of one common share (a
“Share”) of the Company and one common share purchase warrant (a
“Warrant”). Each Warrant will entitle the holder to purchase one
Share of the Company for a period of two years from the date of issuance at a
price of $0.10 per Share.

 

Finders fees
consisting of 795,000 broker warrants (the “Broker Warrants”) and $47,700
in cash were paid in accordance with the policies of the TSX Venture Exchange.
Each Broker Warrant will

entitle the holder to purchase one Share of the Company for a period of two
years from the date of issuance at a price of $0.10 per Share.


All securities issued pursuant to
the private placement are subject to a hold period expiring on August 1,
2010.

Ashburton
Ventures Inc. is a recently listed junior exploration company whose mission is
to acquire highly prospective base and precious metal properties for the
benefit of its stakeholders. The Company’s website can be viewed at www.ashburtonventures.com.


 

ON BEHALF OF THE BOARD

 




                                                           


Michael England, CEO and Director

 

FOR FURTHER
INFORMATION PLEASE CONTACT:

Telephone: 1-604-683-3995

Toll Free: 1-888-945-4770


 



Neither 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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