Garnet Point Resources Corp. (the "Company")(TSX.V: GRC) - Larson Diamond Drilling Ltd. has initiated the first phase of the Company's 2004 drill program.

Vancouver, BC January 24 2004--Garnet Point Resources Corp. (the "Company") is pleased to announce that Larson Diamond Drilling Ltd. has today initiated the first phase of the Company's 2004 drill program. The Company was informed early today that drilling on the first of five holes has begun.

The Company has retained Ivan Young, P.Geo. as the Company's on site geologist. Mr. Young will remain on site for the duration of the drill program to log the core samples taken by the Company and to prepare the necessary reports required.

As previously announced, the Company will drill test the top five targets that emerged from a review by BHP Billiton Diamonds Inc. ("BHPB") of the Company's aeromagnetic survey data. The BHPB review produced ten priority one anomalies that BHPB has indicated could possibly be kimberlites and should be drill tested. The ten targets are scattered across the Search River Property, with the top four targets concentrated on the southwestern third of the claim block.

Results of the drill program will be released as soon as made available to the Company.

The Search River Property consists of four Crown granted mineral claims in the Fort a la Corne area of Saskatchewan. The Claims were initially staked by Adamas Minerals Corp. and subsequently acquired by the Company. The Company now holds 100% of the claims pursuant to an agreement with BHPB which grants BHPB an option to acquire up to a 75% interest in the Search River Property.    

ON BEHALF OF THE BOARD OF DIRECTORS
GARNET POINT RESOURCES CORP.

PEEYUSH VARSHNEY
President

Contact:   
Investor Relations
Phone (604) 684-2181
info@varshneycapital.com




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