ASHBURTON PROVIDES UPDATE FOR THE DEEP CREEK GOLD PROJECT, NEVADA

ASHBURTON PROVIDES UPDATE FOR THE DEEP CREEK GOLD PROJECT, NEVADA 150 150 Progressive Planet Inc.



January
18th, 2011, VANCOUVER, B.C.




– ASHBURTON VENTURES INC. (ABR-TSX:V) (ARB-FRANKFURT)  (“Ashburton” or the “Company”)

is pleased to provide an update of activities for its Deep
Creek Project located 112 kilometres north of Elko, Nevada. The Range Front,
Upper Vein, and Waterfall Vein areas were the focus of exploration for 2010,
with highlights over the past year that include the following:


 


Discovery of the Waterfall Vein, with 200 meters of strike
length delineated to date and 20.5 g/t Au, and the Thirteen-Five Vein with 13.5
g/t Au assayed to date.


 


Discovery and delineation of the Upper Vein, with over 640
meters of strike length, assays up to 1,180 g/t Au, and vein widths up to 1.5
meters.


 


Completion of 716 meters of drilling on the Range Front
Structure; the Company is planning to drill southward on the RFS based on new
mapping that suggests zones of hydrothermal brecciation on surface that can be
used to target mineralization at depth.


 


Recognition of hydrothermal breccia zones along the Range
Front Structure, south of previous drilling, that will aid in the selection of
future drilling targets.


 


Quadrupling of initial Deep Creek land position to over 970
hectares (2,400 acres), to include two areas of historic rock and soil
anomalies that have seen little prior exploration.

Further
mapping, sampling, and reviewing of historic data is continuing, and geophysics
will be implemented to identify targets for drilling in Q2 of 2011. Details of the
Company’s past activity for each of the three areas are provided below.


Waterfall Vein Area

The
Waterfall Vein system is the latest discovery in the Deep Creek Project, and is
located 700 meters south of the Upper Vein. The Waterfall Vein strikes
north-northwest with an approximate length of 200 meters, with quartz vein
material assaying at 20.5 grams per tonne gold. The ‘Thirteen-Five’ vein is
located 60 meters west of the Waterfall Vein with an assay of 13.5 g/t gold.
Samples of mixed vein and country rock from each vein assayed at 0.28 g/t Au.
Vein widths are roughly 0.5 meters, widening to over 1.5 meters in highly
silicified carbonate rocks of the Proterozoic McCoy group. Assays to date for
samples collected in the Waterfall canyon area are summarized in the table
below.


Highlights of rock chip samples collected to date from the Waterfall Vein
Area


Vein
Name


Au, g/t


Ag, g/t


Weight,
kg


Description

Waterfall

20.5

15

2.98

0.5 meters wide, N25W strike with roughly 200 meters of
strike length

Waterfall

0.28

<0.7

3.19

1.5 meters wide, 90 meters south of the above sample,
includes silicified carbonate country rock

Thirteen-Five

13.5

Not
determined

2.35

0.5 meters wide, 60 meters west of the Waterfall vein,
roughly north-south strike for 70 meters

Thirteen-Five

0.28

<0.7

2.63

3.0 meters wide, 50 meters south of the above sample,
includes silicified carbonate country rock


NOTE:

Samples
were chiseled from country rock as channel samples roughly 15 cm in width to
achieve a sample weight of 1.5 kg or greater.

Assays
for additional samples collected from the Waterfall Vein area prior to snowfall
are anticipated in the coming weeks.


Upper Vein Area

The
Upper Vein Area was identified in Q3 2010 and is located 300 meters east of the
Range Front Structure. The Upper Vein has a strike length of over 640 meters,
with samples assaying as high as 1,180 g/t Au, and some over a meter in
width  as high as 47.9 g/t Au. Additional
undiscovered gold-bearing veins are also indicated by a vein float sample
collected upslope of the Upper Vein that assayed at 28.90 g/t gold.
 Elevated silver has also been noted in the system, and highlights for
both metals are summarized in the table below.


Significant Vein Sample Assays from the
Upper Vein Area, Deep Creek Project


Au, g/t


Ag,g/t


Sample
Wt. kg


Approx.
Vein Width, meters


Description

1180

828

1.78

<1

vein splays 12 m off of Upper Vein

355

249

1.04

0.2

vein with visible gold noted

94.3

123.5

2.37

0.2

vein with visible gold noted

56.3

38.4

3.19

0.15

vein with visible gold noted

47.9

18.8

3.04

1

vein with visible gold noted

42.5

13.2

2.34

1.2

vein, no visible gold noted, in contact
with phyllitic rocks

40.1

38.3

2.10

0.6

vein with visible gold noted

16.8

30.2

0.97

0.2

representative material chiseled from
outcrop

9.79

7.6

2.47

0.4

representative material chiseled from
outcrop

7.03

5.5

3.01

0.4

representative material chiseled from
outcrop

2.91

6.4

2.35

0.4

representative material chiseled from outcrop

0.94

1.7

6.34

0.9

stockwork qtz vein


NOTE:

Where possible, vein material was chiseled from vein
exposures to their contact with country rock, and along strike to obtain a
sample weight exceeding 1.5 kg.

The
Upper Vein system is hosted in sedimentary and metasedimentary rocks of the
Paleozoic Schoonover Formation and Proterozoic McCoy Group. Country rock
samples collected along the southward extension of the Upper Vein also exhibit
elevated gold contents, including a composite sample in highly variable
lithologies of the Schoonover Formation that are capped by Tertiary volcanics.
The composite channel sample returned a 0.1 g/t Au result, suggesting that
enhanced gold values may extend beneath the volcanics. Highlights of the
country rock assays are provided in the table below.


Significant Country Rock Assays from
the Upper Vein Area, Deep Creek Project


Au,g/t


Ag,
g/t


Sample
Wt. kg


Distance
from Upper Vein, meters


Rock
Type

 

10.80

10.0

2.54

0.50

phyllitic limestone, McCoy Group

 

9.79

7.60

2.47

6.00

phyllitic limestone, McCoy Group

 

7.03

5.50

3.01

3.00

phyllitic limestone, McCoy Group

 

2.91

6.40

2.35

4.00

phyllitic limestone, McCoy Group

 

2.30

3.80

1.59

200

phyllitic limestone, McCoy Group

 

2.10

4.00

7.10

1.80

phyllitic limestone, McCoy Group

 

2.03

1.80

6.52

0.90

phyllitic limestone, McCoy Group

 

1.59

na

6.15

0.90

phyllitic limestone, McCoy Group

 

1.44

na

1.45

3.60

partially silicified calcareous shale,
McCoy Group

 

1.31

na

1.93

<1

iron oxide stained quartzite, Prospect
Mtn. Quartzite

 

0.97

na

4.39

2.70

phyllitic limestone, McCoy Group

 

0.89

na

4.74

0.90

phyllitic limestone, McCoy Group

 

0.67

na

4.63

3.60

phyllitic limestone, McCoy Group

 

0.56

na

1.36

150

partially silicified calcareous shale,
McCoy Group

 

0.35

na

5.40

0.90

phyllitic limestone, McCoy Group

 

0.10

na

1.53

150

mixed lithologies, Schoonover Formation

 


NOTE:

Samples were chiseled from country rock as channel
samples roughly 15 cm in width to achieve a sample weight of 1.5 kg or
greater. na = not analyzed.


Range Front Structure

Drilling
on the Range Front Structure in the mid-1980’s by Franco-Nevada produced an
estimated reserve of 477,000 ounces of gold in 7.5 million tons and resource of
70,000 ounces of gold in 1.1 million tons. Both the reserve and resource
estimates are historical and a qualified person has not done sufficient work to
classify either the historical reserve or the historical resource estimate as
current mineral resources, therefore these historical reserves should not be
relied on and do not have currently demonstrated economic viability.

In
summer 2010, the Company launched a drill program on the Range Front Structure
and collared each hole at an orientation to reproduce nearby historic drill
hole assays. The holes were drilled at roughly 45 degrees inclination such that
drill intercepts would be roughly perpendicular to the Range Front fault, which
is the primary host for gold mineralization. Five inclined drill holes were
completed for a total of 716 meters, and three intercepted elevated gold at
similar depths to that encountered historically, but not over similar depth intervals.
All of the HQ core was half-split and assayed over roughly 1.2 meter (~4 ft)
intervals from the intersection of basement to the end of the hole, and the
best assays from the 2010 drilling program are summarized below.


Significant Drill Intersections from the Range Front Structure
2010 Drilling Program


Drill Hole


from, m


to, m


Interval, meters


Au (g/t)

 

DC-10-C-1

26.2

29.3

3.0

0.90

 


including

27.7

29.3

1.5

1.53

 

DC-10-C-2*

69.8

72.2

2.4

1.03

 

DC-10-C-4

67.1

76.2

9.1

0.88

 


including

67.1

68.6

1.5

3.92

 


including

75.0

76.2

1.2

2.01

 

DC-10-C-4

102.7

103.9

1.2

1.46

 


Note:

Ashburton implemented
quality control (QA/QC) during the drilling program that included the use of
standards and blanks. Samples of split HQ core were transported by Company
personnel to ALS Chemex Laboratories in Reno, Nevada for sample preparation.
The remaining half is stored at a secure facility in Utah. The core samples are
analyzed using 30-gram or 50-gram standard fire assay methods. Repeat assays
testing for coarse gold performed on selected samples did not produce
significant differences. *Visible gold was also observed in DC-10-C-2 at 77
meters.

In Q3 2010, Ashburton also launched a mapping exercise that
incorporates structural mapping similar to that implemented in open pit mining
operations. During the course of mapping, it was determined that the Range
Front fault has an undulating surface that experienced lateral as well as
normal movement during mineralization. Movement on the undulating fault surface
caused hydrothermal fault breccias to form, which are similar to features
described in the historic drill logs where greater gold contents were noted. These
widened areas of hydrothermal mineralization are identified on the surface by the
abundance of quartz and quartz-breccia float, which will aid in targeting future
drilling along the Range Front Structure in Q2 2011.

It
was noted during core logging that the 45 degree drilling inclination
paralleled the apparent bedding in altered sedimentary and igneous rocks
adjacent to the range front structure, meaning that all rock types were not
completely sampled. As the sedimentary and igneous rocks on the Range Front
Structure have assayed up to 1.44 g/t Au, future drilling will also test the
country rock adjacent to the Range Front Structure for potential low grade
mineralization.


The 2011 Program at Deep Creek

The
2011 exploration program at Deep Creek will continue to focus on the Range
Front Structure, Upper Vein, and Waterfall Vein areas. Concurrent structural
mapping and outcrop sampling will continue in all three areas to identify the
mineralizing structures for gold.  Airborne
magnetic/EM surveys are planned for the entire property to better define
lithologic contacts and identify potential target areas of alteration and
mineralization, with high resolution ground surveys to help prioritize drilling
locations. Two drilling programs are planned, one to test the southward extent
of gold mineralization along the Range Front Structure, and a second program to
test the extent of vein mineralization in the Upper Vein and Waterfall Vein
areas. Drilling on the Range Front structure may start as early as February,
depending on snow cover at lower elevations. However, nearly all historic
exploration has been in these three areas, which represent less than 25% of the
total land position at Deep Creek. The Company recently increased its land
position to encompass two new areas of historical rock and soil gold anomalies
that are similar in surface area to those in which the Range Front Structure,
Upper Vein and Waterfall Vein areas are located. Ashburton now has over 971
contiguous hectares (2,400 acres) under claim, and will carry out detailed
sampling and mapping over these areas in 2011.

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.

The
Company is also pleased to announce the appointment of Dr. Tom McCandless to
the position of Vice President, Exploration. Dr. McCandless brings many years
of experience in the exploration and assessment of mineral properties
throughout the world, and has served as a Director for Ashburton since its
incorporation in 2008. Dr. McCandless has more than 30 years of experience in
the exploration industry, and was part of the Senior Management of Ashton
Mining of Canada, who discovered the Renard kimberlites in Quebec that are
slated to become Quebec’s first diamond mine. From 2008 to the present, Dr.
McCandless has been a consultant to the industry through MCC Geoscience, Inc.,
for diamond and metals projects in North America, South America, Africa, and
Scandinavia. Dr. McCandless also holds the position of Adjunct Professor at the
University of Arizona and the University of Alberta, and has published
extensively on the geochemistry of ore deposits.

Ashburton Ventures is a junior
exploration company actively seeking mineral opportunities for the benefit of
all its stakeholders. For more information visit the Company’s website located
at www.ashburtonventures.com.

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 f




or
the adequacy or accuracy of this release.


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