Vancouver, B.C. (November 28, 2016) – Diamond Fields International Ltd. (TSX-V: DFI) (“DFI” or the “Company”) announces that offshore marine bulk sampling operations conducted by International Mining and Dredging Holding (Pty) Limited (“IMDH”) recovered 26,965.45 carats from its ML 111 concession.
The diamonds were recovered during 62 days of bulk sampling with, respectively, mv Ya Toivo on the water engaging in exploratory trenching activities over the period of July 10 to September 10, 2016, and the mv Explorer executing vertical drill sampling operations over the period from July 21 to August 18, 2016, with the mv DP Star also assisting in support activities.
The diamonds were exported to Antwerp and, after minor losses from check-weigh reconciliation and cleaning, 26,912.20 carats were rendered available for sale. Of the diamonds made available for sale, 8,975 carats have been sealed in Antwerp for future sale. The remaining 17,936.52 carats were sold at a reported sales value of US$4,731,348.17 or $263.78 per carat.
DFI is presently in discussions with IMDH with respect to various commercial matters arising from the IMDH shipping and mining contract, including the foregoing lots and auction process, and will update the market when possible.
DIAMOND FIELDS INTERNATIONAL LTD.
SIGNED: “Sybrand van der Spuy”
Sybrand van der Spuy, CEO and Director
Contact: Earl Young at +1 214 566 3709
The Company’s public documents may be accessed at www.sedar.com
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Statements in this release that are forward-looking statements are subject to various risks and uncertainties concerning the specific factors identified in Diamond Fields’ periodic filings with Canadian Securities Regulators. Such forward-looking information represents management’s best judgment based on information currently available. No forward-looking statement can be guaranteed and actual future results may vary materially. Diamond Fields does not assume the obligation to update any forward-looking statement.