Diamond Fields International Extends Operating Agreement on M.V. Anya

Apr 30, 2003 | 2003, Corporate News

Diamond Fields International (TSX-DFI) is pleased to announce that the operating agreement in place for M.V. Anya with Gemfarm Investments (Pty) Ltd. has been extended for a further six additional consecutive thirty day mining periods. Jean-Raymond Boulle, Chairman and CEO of DFI commented: “We are pleased to extend the program with Gemfarm following successful diamond recovery operations during the four months the Anya has been mining in the Marshall Fork deposit in our Luderitz Blue Bay Project area as diamond production levels and sales results have shown a steady increase over this period.”

Roger Daniel, Director of Operations for DFI, further commented: “M.V. Anya is currently undergoing repair, maintenance, and improvement and upgrade work in Cape Town. Dry dock congestion and increased scope of work as a result of Gemfarm’s empowerment partner’s requirement to upgrade the ship’s Classification Society and change in its flagging state to South Africa have led to delays, with more port time required than originally anticipated.”

He added: “We are now looking forward to resuming recovery operations in mid-May. On the plus side, following this extensive work program we anticipate improved availability and efficiency from the vessel and its twin airlift mining system, resulting in improved diamond production and profitability.”

In other news, the Company has appointed Mr. Marcel de Groot CA, as Chief Financial Officer in place of Mr. Horng Dih Lee. Mr. de Groot is a Chartered Accountant formerly of Grant Thornton LLP. Since leaving public practice in 1999, he has worked as a consultant for public and private companies with revenues of up to US$40 million, including certain public mining companies.

Jean-Raymond Boulle
Chairman and Chief Executive Officer
For further information contact: Earl Young (214-219-1439)
Website: www.diamondfields.com

Forward-Looking Statements:
Statements in this release that are forward-looking statements are subject to various risks and uncertainties concerning the specific factors identified in the 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.

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