Diamond Fields Reports Update on Delay in Filing 3rd Quarter Financial Statements

May 19, 2006 | 2006, Corporate News

Cape Town, May 19th, 2006 — Diamond Fields International Ltd. (DFI:TSX) (“DFI” or the “Company”) announces that it is making every effort to complete and file its interim financial statements for 3rd quarter 2006 on Tuesday, May 23, 2006. As reported in its news release of May 18th, 2006, the delay is due to logistical and systems problems encountered during the relocation of its head office from Vancouver to Cape Town, South Africa. The British Columbia Securities Commission has advised the Company that a cease trade order may be issued before the close of business (PST) on Tuesday, May 23 in the event that the financial statements are not filed before 11:30 a.m. (PST) on that date.

Diamond Fields International Ltd. and Moydow Mines International Inc. (TSX: MOY)(AIM: MOY) (“Moydow”) announced in press releases dated March 1, 2006 that they had reached an agreement effective February 28th, 2006 pursuant to which Moydow security holders will exchange their Moydow securities for securities of Diamond Fields (the “Acquisition”). The Acquisition remains subject to various conditions as previously announced. Moydow, like Diamond Fields, is engaged in mineral exploration and development worldwide.


“Roger J. Daniel”
Roger J. Daniel, President and CEO

For further information, contact Greg Girdler, Investor Relations at (604) 288-1400
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 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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