2010 Mining Explorers: Shear Minerals Ltd.

SRM: TSX-V

President and CEO: Pamela D. Strand, M.Sc, P.Geol.

CFO: Greg Hayes, CA

Shear Minerals Ltd. is a Canada-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. In late August, it completed the purchase of the Jericho diamond mine and related assets in Nunavut from Caz Petroleum Inc. for 80 million shares and C$2 million in cash. The mine has an existing indicated diamond resource of 1.88 million carats and an inferred resource of 1.13 million carats. A past-producer, it also has potential for resource expansion and more than C$200 million in infrastructure.

Shear also is focused on advancing 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. It planned 2010 exploration at Churchill, but by early September had not reported activity there. Shear and its 37.2 percent-partner Stornoway Diamonds Corp. also agreed in 2009 with Rio Tinto’s Kennecott Canada Exploration Inc. to jointly explore the 70,000-acre northern portions of the Churchill Diamond Project, known as the Chesterfield Inlet Diamond Project. The partners planned a C$550,000 exploration program for 2010, including an ultra-resolution 2,177 line-kilometer airborne magnetic geophysical survey completed in May to provide detailed data to select drill collar locations along with till sampling, prospecting and structural interpretation over high priority geochemical areas, lightweight drill testing of up to 10 targets, select ground magnetic surveys over new areas, and ongoing environmental baseline data collection and water sampling.

Last November, Shear agreed to acquire an interest in the Napajut Lake Gold-Diamond Project located 75 kilometers, or 47 miles, west-northwest of Arviat, Nunavut. The explorer also planned a 2010 prospecting program on the property to follow-up priority anomalies for both gold and diamond potential in hopes of seeking land use permits for drill testing of targets in 2011.

Cash and short-term deposits: C$244,012 (at May 31, 2010)

Working capital: C$349,277 deficit (at May 31, 2010)

Market Capitalization: C$9.1 million (at Sept. 1, 2010)

Suite 100, 9797 - 45 Ave. • Edmonton, AB Canada T6E 5V8

Tel: 780-435-0045 • Fax: 780-989-0322

www.shearminerals.com