VANCOUVER, 18th July, 2005 – Diamond Fields International Ltd. (TSX:DFI) is pleased to announce its recent diamond sale of 1,356 carats at an average price of US $ 203 per carat, for a total gross sale of US $ 275,268. The price received for these diamonds is in line with the average price of US $ 205 per carat for sales during the first half of the Company’s 2005 fiscal year, and is substantially above the US $ 146 per carat average price received in fiscal year 2004.
This sale included 1,296 carats of rough diamonds, sold for an average price of US $ 205 per carat, produced by Diamond Field’s ship mv DF Discoverer during commissioning and initial operations through June 26th. The remainder consisted of a small quantity of previously recovered stones which sold for US $ 165 per carat.
Gregg J. Sedun, President and CEO of Diamond Fields stated: “This initial sale of production from our own ship is a significant milestone for our Company. Moreover, the high price received is very encouraging, as it demonstrates a continued strong market for Diamond Field’s high-quality Namibian product.”
Diamond Fields International Ltd. is an internationally active exploration and mining company pursuing mineral exploration opportunities worldwide. The Company’s 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 at (1.604.682.2113).
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.