Fort a la Corne Joint Venture: Orion South diamond results 3.61, 3.31, 3.03 and 2.66 carat diamonds in 398.38 carat parcel

    Stock Symbol: SGF: TSX

    SASKATOON, Jan. 23 /CNW/ - George H. Read, P. Geo., Senior Vice President
Exploration and Development, is pleased to announce the sixth set of diamond
results from underground bulk sampling of the Orion South Kimberlite, within
the Fort a la Corne Joint Venture (FALC-JV) where Shore is the operator with a
60 percent interest and Newmont Mining Corporation of Canada Limited (Newmont)
has 40 percent. The diamond recoveries total 398.38 carats from 4,405.69 dry
tonnes of kimberlite processed. Included in this release are results for 13
kimberlite batches. A total of 2,868 commercial sized diamonds (greater than
1.18 millimetre square mesh screen), collectively weighing 397.82 carats, has
been recovered from these 13 batches. Thirty-eight diamonds greater than one
carat have been recovered and the four largest stones are: 3.61, 3.31, 3.03
and 2.66 carats, respectively. In addition, thirty diamonds totaling 0.56
carats were recovered down to 0.85 millimetre square mesh. The colour of 39
percent of the diamonds has been classified as white, with a further 42
percent classified as off-white. Kimberlite processed and diamond results for
the 13 sample batches are listed in the following tables.

    Batch    Location/Lithology    Dry     Number   Total    Grade   Largest
     No.                          Tonnes     of    (carats)  (cpht)   Stone
                                           Stones                    (carats)
    OS-047   SOUTH 3A - EJF       344.22      349    57.64    16.75     2.66
    Total    EJF                  344.22      349    57.64    16.75

    OS-046   OS-Refuge-008 -      305.01      281    40.04    13.13     1.73
    OS-049   South 4B -           447.27      337    53.86    12.04     3.61
    OS-051   South 5A -           301.53      202    29.09     9.65     1.76
    OS-052   OS-Refuge-009 -      289.18      225    35.75    12.36     1.66
    OS-053   South 5B -           361.04      184    28.86     7.99     1.26
    OS-055   Pump Station-001     337.46      318    39.59    11.73     3.31
             - Transitional
    Total    Transitional
             Pense - EJF        2,041.49    1,547   227.19    11.13

    OS-043   NORTH 1A - Pense     412.81      199    19.60     4.75     3.03
    OS-044   SOUTH 2J - Pense     422.75      223    21.05     4.98       33
    OS-045   NORTH 1B - Pense     368.94      215    27.46     7.44     1.61
    OS-048   NORTH 2A - Pense     255.74      126    14.20     5.66     2.66
    OS-050   NORTH 2B - Pense     138.25       62     6.15     4.45     0.52
    OS-054   OS-REMUCK-002 -      421.49      177    25.09     5.95     2.54
    Total    Pense              2,019.98    1,002   113.55     5.62

    All batches reported were collected during lateral drifting between 150
and 200 metres from the shaft station at 186 metres below surface. A map of
the underground drifting showing the locations of these batches is available
on the Shore website at: Three kimberlite lithologies have
been sampled by these 13 batches: Batch OS-047 was recovered from EJF
Kimberlite; Batches OS-043, 044, 045, 048, 050 and 054 were recovered from
Pense Kimberlite and Batches OS-046, 049, 051, 052, 053 and 055 were recovered
from a transitional zone of mixed EJF and Pense Kimberlite.
    The four largest stones are 3.61 (White), 3.31 (White), 3.03 (Off-white)
and 2.66 (White) carats respectively. Ten diamonds exceed two carats and
thirty-eight diamonds exceed one carat, of which sixteen are white, eleven are
off-white, five are grey, four are brown, one is black, and one is yellow. A
total of 128 diamonds exceed 0.5 carats. Thirty-nine percent of this diamond
parcel is classified white in colour, with a further forty-two percent
classified as off-white. Ninety-nine percent of the carat weight of this
parcel occurs in diamonds greater than 1.18 millimetre square mesh.
    Senior Vice President Exploration and Development, George Read, states:
"The EJF is the target lithology for diamonds within Orion South. Operating
under the 2009 budget, the underground bulk sampling program is scheduled to
continue into early February 2009 and aims to maximize the size of the diamond
parcel collected from the EJF. This diamond parcel will provide grade and
price estimates for use in the resource estimate for Orion South. Shore aims
to determine a resource estimate for Orion South during 2009."
    The diamond recovery procedure includes on-site processing of kimberlite
through the modular Dense Media Separator (DMS), after which DMS concentrates
are batch fed through an X-ray Flow-sort. In order to ensure the recovery of
low luminosity diamonds, the Flow-sort tailings are processed over a grease
table. Flow-sort and grease table concentrates are transported by a secure
carrier to Mineral Services Canada Inc. for final diamond recovery. The
Mineral Services process includes de-greasing, drying, screening, magnetic
separation, manual sorting and diamond weighing and description. The Mineral
Services facility, process and quality assurance procedures have been audited
and ratified by an independent industry expert.
    Senior Vice President Exploration and Development, George Read,
Professional Geoscientist in the Provinces of Saskatchewan and British
Columbia, is the Qualified Person responsible for the verification and quality
assurance of analytical results. Shore is a Canadian based corporation engaged
in the acquisition, exploration and development of mineral properties. Shares
of the Company trade on the TSX Exchange under the trading symbol "SGF".

    Caution Regarding Forward-Looking Statements

    From time to time, Shore makes written or oral forward-looking statements
within the meaning of certain securities laws, including the "safe harbour"
provisions of the Ontario Securities Act and the United States Private
Securities Litigation Reform Act of 1995. Shore may make such statements in
this press release, in other filings with Canadian regulators or the United
States Securities and Exchange Commission, in reports to shareholders or in
other communications. These forward-looking statements include, among others,
statements with respect to Shore's objectives for the ensuing year, our medium
and long-term goals, and strategies to achieve those objectives and goals, as
well as statements with respect to our beliefs, plans, objectives,
expectations, anticipations, estimates and intentions. The words "may,"
"could," "should," "would," "suspect," "outlook," "believe," "plan,"
"anticipate," "estimate," "expect," "intend," and words and expressions of
similar import are intended to identify forward-looking statements. In
particular, statements regarding Shore's future operations, future exploration
and development activities or other development plans contain forward-looking
    All forward-looking statements and information are based on Shore's
current beliefs as well as assumptions made by and information currently
available to Shore concerning anticipated financial performance, business
prospects, strategies, regulatory developments, development plans,
exploration, development and mining activities and commitments. Although
management considers these assumptions to be reasonable based on information
currently available to it, they may prove to be incorrect.
    By their very nature, forward-looking statements involve inherent risks
and uncertainties, both general and specific, and risks exist that
predictions, forecasts, projections and other forward-looking statements will
not be achieved. We caution readers not to place undue reliance on these
statements as a number of important factors could cause the actual results to
differ materially from the beliefs, plans, objectives, expectations,
anticipations, estimates and intentions expressed in such forward-looking
statements. These factors include, but are not limited to, developments in
world diamond markets, changes in diamond valuations, risks relating to
fluctuations in the Canadian dollar and other currencies relative to the US
dollar, changes in exploration, development or mining plans due to exploration
results and changing budget priorities of Shore or its joint venture partners,
the effects of competition in the markets in which Shore operates, the impact
of changes in the laws and regulations regulating mining exploration and
development, judicial or regulatory judgments and legal proceedings,
operational and infrastructure risks and the additional risks described in
Shore's most recently filed Annual Information Form, annual and interim MD&A
and short form prospectus, and Shore's anticipation of and success in managing
the foregoing risks.
    Shore cautions that the foregoing list of factors that may affect future
results is not exhaustive. When relying on our forward-looking statements to
make decisions with respect to Shore, investors and others should carefully
consider the foregoing factors and other uncertainties and potential events.
Unless otherwise required by applicable securities legislation, Shore does not
undertake to update any forward-looking statement, whether written or oral,
that may be made from time to time by Shore or on our behalf.

For further information:

For further information: Joseph Dickson, Manager, Investor Relations at
(306) 667-3505

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