Mr. Jean-Raymond Boulle, Chairman and CEO of Diamond Fields International (TSX-DFI), announces the sale of 4,333 carats on April 3, 2003 at an average price of US $147.67 per carat for a total price of US $639,812. This average price exceeds the Company’s two preceding diamond sales this year and once again indicates the quality of DFI’s marine diamond resource. The tender sale was conducted in Antwerp, Belgium through Diamond Tenders (Belgium) N.V.
Mr. Boulle stated: “I am pleased with recent diamond production levels as well as the latest sales result. We anticipate that the Company will have a positive operating margin during the most recent quarter ended March 31, 2003, and we are currently studying various opportunities to further improve our margins.”
Roger Daniel, Director of Operations for DFI, stated: “The mining vessel M.V. Anya is currently in dry dock for routine maintenance to the mining system and for its scheduled Class Society Inspection. The purpose of this maintenance will be the improved availability of the twin airlift mining system, which would forseeably result in an increase in the daily mining rate and improved recovery levels. Mining is expected to resume on or about April 18, 2003. We also expect the mining vessel, M.V. Lady S to have completed its routine maintenance work and to be returning to mine DFI’s marine diamond concession later this month”
DIAMOND FIELDS INTERNATIONAL LTD.
Chairman and Chief Executive Officer
For further information contact: Earl Young (214-219-1439)
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.