Vancouver, March 29, 2005 — Diamond Fields International Ltd. (DFI:TSX) announces further stream sediment sampling results from the diamondiferous kimberlite exploration program on its optioned Grand Cape Exploration License in western Liberia. Microprobe results indicate recovery of two G10D garnets from a second source area on Kutuya Creek and kimberlitic ilmenites appear to be emanating from an additional four discrete sources. A total of 63 stream sediment samples have been processed to date from the Grand Cape Property, generating 6 high priority target areas for detailed follow up. The exploration team has visited about 15% of the property to date and field work is ongoing.
Microprobe analysis to date confirms the recovery of 23 G10 garnets including 4 G10D garnets (an additional 5 garnet grains are promoted to the G10D field when compositions are corrected for MnO content after Grutter, Guerney, et. al., 2004). These diamondiferous kimberlite indicators emanate from two discreet source areas, the previously announced Camp Alpha target (reported in the February 1st and 8th, 2005 news releases) and the newly discovered Kutuya Creek target approximately 6 km northwest. Three chrome diopsides of kimberlitic origin have been recovered from samples emanating from the Camp Alpha target. Recovery of kimberlitic garnet and chrome diopside suggests a kimberlite source maybe located within a few kilometers due to the destruction of these grains over short travel distances in the tropical environment that prevails in Liberia.
Distribution of more than 3250 kimberlitic ilmenite grains recovered over the area indicates that an additional four small drainage areas are of interest for detailed follow up sampling. The analysis of the ilmenite by microprobe indicates a good diamond preservation potential for the source kimberlites. To view this plot and the Garnet Mineral Chemistry, please follow the following link to Diamond Fields’ website: https://dfrgold.com/i/misc/dfi-mar292005-1.gif
In addition to the regional program an orientation loam sampling grid of 1km x 1km has been completed over the original Camp Alpha target and the results of analysis of these 110 samples is expected within the next 3 — 4 weeks. Based on a positive outcome the grid will be expanded a further two kilometers along strike and a second grid will be established over the Kutuya Creek target.
Further work on the Grand Cape property will include completion of reconnaissance stream sediment sampling and completion of loam samples on grids over the indicated source terrains, (based on positive results from the orientation sampling) If results continue to be positive DFI plans a ground geophysics program over the loam grids to delineate drill targets, followed by drilling of prioritized anomalies late in 2005.
Diamond Fields has a reconnaissance team in the field led by 4 geologists seconded from the Liberian Geological Survey. Stream sediment samples for diamond indicator minerals are jigged in the field to create 1-2 kg of heavy mineral concentrate and sent to Nexo Labs of Kyalami, South Africa (ISO14001 accreditation has been applied for) where they are prepared and picked by Sophie Napier, a mineralogist with more than 10 years industry experience. Indicator minerals are then microprobed at the analytical facility of the University of Johannesburg (a merger between Rand Afrikans University and Wits University). The results of the sampling programs have been reviewed, verified (including sampling, analytical and test data) and compiled by the Diamond Fields’ geological staff supervised by Mr. Randal Cullen, P.Geol., a “Qualified Person” as indicated under NI 43-101.
Diamond Fields International Ltd. is a marine diamond producer with a superior portfolio of mineral exploration properties in several areas of the world. Diamond Fields’ corporate strategy is to maximize cash flow from its Namibian marine diamond concessions and systematically explore and develop its international mineral exploration projects. In addition, the Company continues to explore opportunities to acquire new economic mineral projects worldwide.
DIAMOND FIELDS INTERNATIONAL LTD.
“Gregg J. Sedun”
Gregg J. Sedun, President and Chief Executive Officer
For further information contact:
Investor Relations (1-888-682-2113) extension 257
All dollar values are stated in U.S. currency unless otherwise specified.
Statements in this release that are forward-looking statements are subject to various risks and uncertainties concerning the specific factors identified in Diamond Fields’ period filings with Canadian Securities Regulators. Such forward-looking information represents managements’ 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.