VANCOUVER, December 16th, 2005 – Diamond Fields International Ltd. (TSX:DFI) (“DFI” or the “Company”) is pleased to announce initiatives to ramp up the Company’s exploration for high grade gold and primary diamond deposits in Liberia and progress on the marine diamond mining project in Namibia.
DFI is working in Liberia on diamond and gold concessions covering more than 181,000 hectares of prospective Archean and Proterozoic aged terrains. Positive results from development work, including grid sampling and pitting on the diamond and gold prospects, have encouraged the Company’s Board to approve an increased level of spending on the advancement of the Liberian prospects. Targets include diamondiferous kimberlite in western Liberia (the Camp Alpha prospect) and two high grade gold deposits (Henry Town in western Liberia and Barteajam in eastern Liberia). All the prospects are the subject of artisinal workings indicating the presence of diamonds and coarse gold. DFI intends to identify the bedrock sources of these minerals.
Results from laboratory analysis are expected before year end for grid and pit sampling of a 3km long kimberlite dyke target and a 3 hectare kimberlite pipe target. These are the first 2 of 8 high priority kimberlite targets discovered during the first round of reconnaissance sampling on the Grand Cape property.
Both gold targets (Barteajam and Henry Town) are being explored with grid soil, and stream sediment sampling. On Barteajam a 3km by 500m grid has been sampled over the largest area of artisinal working in order to generate drill targets. On the Henry Town prospect soil samples are being collected along and across strike from known showings. Additional targets for both diamonds and gold are expected to be generated by ongoing reconnaissance sampling that has to date covered less than 25% of the concession area around the aforementioned development prospects.
The Company’s marine diamond project in Namibia has moved to a new phase of resource development. Previous sampling by BHP and DeBeers Marine defined the Reef Edge deposit, which extends for more than 7 km along the inland side of Diaz Reef in water depths between 45m and 60m and hosts a larger average diamond size than Marshall Fork. The DF Discoverer mining vessel is currently mining trenches across the mineralized area to pursue additional areas of high grade material and improve the resource/reserve base of the marine diamond project.
Mr. Randal Cullen, P.Geol., Chief Geologist for Diamond Fields International is a Qualified Person as defined by National Instrument 43-101 and is responsible for program design and quality control of exploration undertaken by Diamond Fields.
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.
Roger Daniel, President and Chief Executive Officer
For further information contact Greg Girdler, 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.