May 21, 2003

News Release: 10.23 Carat Diamond Recovered From Fort a La Corne Kimberlite 140/141

Kensington Resources Ltd. (the 'Company') is pleased to announce recovery of a 10.23 carat diamond from a recent drilling and sampling program conducted by the Fort a la Corne Joint Venture. The operator, De Beers Canada Exploration Inc., today notified the Company of partial preliminary results arising from final diamond recovery activities at their secure facility located in Johannesburg, South Africa. Minibulk samples were acquired from the drilling phase of the 2002 advanced exploration/evaluation program on Kimberlite 140/141, which is one of several high-priority bodies identified in the Fort a la Corne Kimberlite Field, located 65 kilometres east of Prince Albert, Saskatchewan. The large diamond was described as a dodecahedral aggregate stone with two dimensions measuring 14 mm x 10.5 mm, but no information is available at this time concerning value of the stone or the potential impact on grade forecasts and average values for Kimberlite 140/141. The Company acknowledges that the disclosure in this news release does not meet the requirements of sections 2.2, 3.2, and 3.3 of National Instrument 43-101 - Standards of Disclosure for Mineral Projects, as a result of the preliminary stage of the diamond recovery reporting. Final diamond recovery procedures are continuing at the newly-renovated De Beers facility and the Company will release full results, in accordance with the requirements of National Instrument 43-101, as they are received and evaluated. The Company anticipates release of this information by mid-year of 2003.

The Fort a la Corne Diamond Project is a joint venture among Kensington Resources Ltd. (42.25%), De Beers Canada Exploration Inc., a wholly owned subsidiary of De Beers (42.25%), Cameco Corporation (5.5%) and UEM Inc. (carried 10%). The 71+ kimberlite bodies of the Fort a la Corne Field form one of the largest diamondiferous clusters in the world. Using the expertise of proven management and a world-class experienced technical team, Kensington Resources Ltd. is actively involved in confirming the economic potential of this deposit and moving the project forward to a development decision as rapidly as possible.

ON BEHALF OF THE BOARD OF DIRECTORS OF KENSINGTON RESOURCES LTD.

David H. Stone, President

Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995: This news release contains forward-looking information within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, including statements that include the words 'believes,''expects,''anticipates'or similar expressions. Such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause the actual results, performance or achievements of the Company to differ materially from those expressed or implied by such forward-looking statements. Such factors include, among others, the risk factors contained in the Company's documents filed from time to time with the B.C. Securities Commission and the U.S. Securities and Exchange Commission.

FORM 20-F FILE #0-24980

LISTED IN STANDARD &POOR'S

Kensington Resources Ltd.William CallahanInvestor Relations1-800-514-7859 or (250) 361-1KRTEmail: This email address is being protected from spambots. You need JavaScript enabled to view it.: www.kensington-resources.comorRobert A. Young &AssociatesRobert A. YoungInvestor Relations1-877-626-2121 or (604) 682-5123Email: This email address is being protected from spambots. You need JavaScript enabled to view it.

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