Shear Minerals Reports NI 43-101 Resource Estimate for Jericho Diamond Project

Shear Minerals Ltd.(TSX VENTURE:SRM) announced that SRK Consulting (Canada) Inc. has prepared for Shear this mineral resource estimate for the Jericho Diamond Project located in Nunavut, Canada which, as previously announced on July 19, 2010, is to be acquired by Shear from Tahera Diamond Corp. an Benachee Resources Inc.

The press release is quoted as saying:

A size dependant diamond recovery model was based upon a 90% recovery of diamonds greater than +3 DTC sieve by weight. This recovery factor is applied to the diamond grade-size models and results in a recoverable diamond grade. The grade model assumes recovery of diamonds larger than 1mm. SRK is presently preparing an updated 43-101 compliant report for the Jericho property. The SRK qualified person for this Mineral Resource is Mike Johnson, P.Geo.

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