Shear Diamonds Ltd. has announced the acquisition of 34 newly staked claims totaling 77,250 acres contiguous with the Carat Property surrounding the Jericho Diamond Mine. This new land package provides Shear with blanket mineral rights covering existing and newly interpreted priority indicator dispersion trains. Shear's ongoing review of historical datasets has confirmed compelling evidence of undiscovered kimberlites in certain areas outside the immediate mine area with recommended ground follow up.

"In addition to our main goal for 2011 to support and augment the existing geological model for the Jericho Kimberlite Complex, Shear continues to evaluate the exploration potential of Shear's entire land package at Jericho," said Pamela Strand, President. "We have added these additional mineral rights based on priority area based on geophysics and favorable G10 pyrope indicator mineral chemistry."

Shear's in-house geology team have been working in partnership with Mineral Services Canada (MSC) of North Vancouver, BC in a comprehensive review of historic indicator mineral dispersion data from tills and historic kimberlites at the Jericho Project and surrounding lands.

Shear is a Canadian-based company focused on diamond exploration and development in Canada's North, where it explores established diamond districts and has discovered new ones. Shear currently has a portfolio of eight diamond projects, including three advanced projects with development potential. Shear holds a 100% interest in its recently acquired Jericho Diamond Mine and surrounding exploration assets, located in the Kitikmeot region of Nunavut.