Diamond Fields International Ltd. (TSX-V: DFI) is pleased to announce the amicable resolution of arbitration proceedings initiated in 2011 against the Government of Liberia, in which the Company alleged that the Government wrongfully terminated the Company’s license on the Henry Town gold project (see News Release dated February 9, 2011). The parties began working towards a settlement in April 2014, but discussions were postponed indefinitely due to the 2014 Ebola outbreak. Recently the parties resumed negotiations, and reached an agreement in February 2016 to dismiss the arbitration without prejudice to refilling, and with each party bearing its own costs. A final order was entered at International Center for Settlement of Investment Disputes on March 11, 2016.
Diamond Fields believes that dismissing the arbitration will serve as a foundation for future, mutually beneficial opportunities in Liberia.
DIAMOND FIELDS INTERNATIONAL LTD.
SIGNED: “Sybrand van der Spuy”
Sybrand van der Spuy, Chief Executive Officer
Contact: Earl Young at +1 214 566 3709
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
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, except as otherwise required by law.