Shear Announces Airborne Survey Over Cluster of Seismic Anomalies on Alberta Diamond Properties

CALGARY, ALBERTA--(CCNMatthews - Feb. 16, 2006) - Shear Minerals Ltd. (TSX VENTURE:SRM) announced today that a high resolution airborne geophysical survey is underway over two northern Alberta Diamond Properties, the Liege Diamond Project and the Piche Lake Property.

A detailed 14,760 line km magnetic airborne geophysical survey has commenced that will cover 19 townships at 150m spacings in order to follow up eight high priority seismic pipe-like targets suggestive of kimberlite at both the Piche Lake and Liege Properties.

The current survey, conducted by Firefly Aviation, will provide high resolution data to more accurately locate and rank the targets and identify any new targets in preparation for a comprehensive 2006 follow-up program. The current program will include the provision for quality control and interpretation of the data by independent consultant Kit Campbell, P. Geoph., of Intrepid Geophysics, Vancouver, B.C.

"This airborne geophysical survey is targeted towards these seismic targets," said Pamela Strand, President and CEO of Shear Minerals Ltd. "We are hoping to generate discrete anomalies suggestive of kimberlite for immediate ground follow up and possible drill testing."

The Liege Diamond Project was acquired from a Canadian oil and natural gas exploration, development and production company. Seven prominent pipe-like targets have been identified from seismic surveys and are suggestive of kimberlites. They were generated during exploration for oil and gas. The Liege Diamond Project consists of 155,000 acres and is located 360 km north of Edmonton, Alberta. The project area lies 80 km immediately east of the Buffalo Head Hills kimberlite cluster and is located along the projected trend of the Peace River Arch, a crustal structure potentially favorable for kimberlite emplacement.

The Piche Lake Property is road accessible and is composed of two blocks collectively totaling 380,000 acres located 170 km northeast of Edmonton, Alberta. Previous exploration by Marmac Mines Ltd. has outlined one prominent pipe like discontinuity on seismic data that is suggestive of a kimberlite pipe. The Piche Lake Property is located within the regional Vegreville kimberlite indicator mineral trend as outlined by the Alberta Geological Survey and is also in located along the projected trend of the Snowbird Tectonic Zone, a crustal structure potentially favorable for kimberlite emplacement.

There are 48 known kimberlites in the Northern Alberta Kimberlite Province that include the 38 kimberlites discovered by Ashton Mining of Canada within the Buffalo Head Hills Field. In general, diamond exploration in Alberta is increasing with several other active diamond projects currently underway within the province.

Mr. Dean Besserer, P. Geol. of Apex Geoscience Ltd., is a Qualified Person as defined under NI 43-101 and will be responsible for the program design and quality control of exploration undertaken by Shear on these projects.

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. Shear currently has a portfolio of nine diamond projects, six of which are drill-ready. The Company has advanced its 51%-owned Churchill Diamond property in Nunavut from a conceptual grassroots project to a new kimberlite district.

This news release may contain forward looking statements, being statements which are not historical facts, including, without limitation, statements regarding potential mineralization, exploration results, resource or reserve estimates, anticipated production or results, sales, revenues, costs, "best-efforts" financings or discussions of future plans and objectives. There can be no assurance that such statements will prove accurate. Such statements are necessarily based upon a number of estimates and assumptions that are subject to numerous risks and uncertainties that could cause actual results and future events to differ materially from those anticipated or projected. Important factors that could cause actual results to differ materially from either of the Companies' expectations are in Company documents filed from time to time with the TSX or the TSX Venture Exchange and provincial securities regulators, most of which are available at www.sedar.com. The Companies disclaim any intention or obligation to revise or update such statements.

The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.