Shear Announces Diamond Recoveries from the Commencement of Processing High Grade Concentrate Stockpiles at the Jericho Diamond Mine

Shear Diamonds Ltd. (SRM.V - News) ("Shear") is pleased to announce that it has begun processing its high grade concentrate ("Recovery Reject") stockpiles at its 100%-owned Jericho Diamond Mine ("Jericho") in Nunavut. A total of approximately 3,500 carats have been recovered from 358 tonnes after the first 10 full days of processing. For approximately the next 10 months, operations will be focused on the processing of these stockpiles. Following the required diamond valuation process by a Canadian government valuator, which is next scheduled for late May 2012, these and all future diamonds produced from Jericho, other than diamonds subject to a royalty if the holder has elected to take the royalty in kind, are to be delivered to Tache Company N.V., Shear's diamond marketing partner, for sale into end markets.

Published: 01 May 2012
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Mountain Province Diamonds Announces Proposed Spin-out of Kennady Diamonds

Mountain Province Diamonds Inc. ("Mountain Province", the "Company") (TSX: MPV, NYSE-AMEX: MDM) is pleased to announce that its Board of Directors has approved a proposal to spin-out the Company's 100 percent-controlled Kennady North diamond project into a newly incorporated company, Kennady Diamonds Inc.

Patrick Evans, President and CEO, commented: "The proposed spin-out of Kennady North is intended to deliver greater value to Mountain Province shareholders by unlocking the value of this highly prospective diamond project. The transaction will also enable Mountain Province to focus on its flagship Gahcho Kué Project while Kennady Diamonds focuses on advancing the 123 square-kilometer Kennady North Project."

Published: 12 January 2012
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Stornoway Files NI 43-101 Technical Report for the Renard Feasibility Study

Stornoway Diamond Corporation (TSX: SWY.TO - News) is pleased to announce the filing on SEDAR of a National Instrument ("NI") 43-101 technical report representing the qualifying report for the recently-announced Feasibility Study at the Renard Diamond Project located in North-Central Quebec. Highlights of the Feasibility Study, previously reported by Stornoway on November 16, 2011, are as follows:

--  Base case estimates of Net Present Value ("NPV") of C$672 million at a 7% discount rate and Internal Rate of Return ("IRR") of 18.7% before taxes and mining duties, and C$376 million and 14.9% after taxes and mining duties.

Published: 04 January 2012
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Shear Signs Agreements With Tache Securing Debt Financing and A Strategic Alliance for Sales of Diamond Production from Jericho

Shear Diamonds Ltd. (TSX-V: SRM.V - News) has today signed agreements with Tache Company N.V. ("Tache") securing debt financing and forming a strategic alliance under which Tache will purchase the diamond production from Shear's Jericho diamond project in Nunavut. The alliance establishes a mutually beneficial relationship encompassing sales of both rough and polished diamonds from the Jericho mine. Shear will participate in final net profits from Tache's sales of the Jericho diamonds either as rough or polished stones.

The debt financing to be provided by Tache includes a US$2 million term loan repayable in 12 equal monthly installments once Shear begins to receive proceeds of sales of diamonds from the existing recovery concentrate stockpiles at Jericho, and a US$3 million revolving credit facility which can be drawn against once Shear has begun shipping diamonds from the existing recovery stockpiles.

Published: 09 December 2011
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Peregrine Provides Update on Chidliak Diamond Project

Peregrine Diamonds Ltd. (TSX: PGD.TO - News) ("Peregrine" or "the Company") is pleased to provide an update on the Chidliak diamond project ("Chidliak" or "the Project") located 120 kilometres from Iqaluit on Baffin Island, Nunavut, Canada. On November 29, 2011, Peregrine announced that it had been informed by BHP Billiton that BHP Billiton is reviewing its diamonds business, comprising their interests in the EKATI Diamond Mine and the Chidliak diamond exploration project in Canada.

Today, Peregrine met with a senior executive of BHP Billiton who provided the following commentary to Peregrine:

Published: 01 December 2011
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  1. Mountain Province Diamonds Inc ( MPV )
  2. Mountain Province Diamonds Inc ( MPV )
  3. Metalex Ventures Ltd ( MTX )
  4. Peregrine Diamonds Ltd ( PGD )
  5. Peregrine Diamonds Ltd ( PGD )