(Cape Town, January 24, 2007) – Diamond Fields International Ltd. (DFI:TSX) (“DFI” or the “Company”) announces that further to its news release dated December 18, 2006 regarding DFI’s Rights Offering to its shareholders resident in Canada and in eligible offshore jurisdictions, the Company wishes to remind shareholders that the Rights, which are trading on the Toronto Stock Exchange under symbol DFI.RT, will expire at 4:00 p.m., Toronto time, on Tuesday, January 30, 2007.
Shareholders are urged to contact their brokers or financial advisors well in advance of the expiry date.
4.041 Rights plus $0.09 entitles eligible shareholders to purchase one common share of the Company before the expiry of the Rights Offering.
The Rights will cease trading on the Toronto Stock Exchange at 12:00 noon, Toronto time, on January 30, 2007.
This news release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of the securities in any state or jurisdiction, including the United States, in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction. Any public offering of securities to be made in the United States can only be made pursuant to an effective registration statement. The Company has no intention of filing such a registration statement in connection with this Rights Offering. Accordingly, the Rights Offering is not being made to shareholders resident in the United States nor will US persons (as defined under applicable US securities laws) be entitled to exercise rights under the Rights Offering.
DIAMOND FIELDS INTERNATIONAL LTD.
“Roger J. Daniel”
Roger J. Daniel, President and CEO
For further information, contact Roger Daniel or Randal Cullen at +27 21 425 1990
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.