Archangel Holds Annual Meeting of Shareholders in Toronto, Ontario, Canada



    TORONTO, June 26 /CNW/ - Archangel Diamond Corporation ("Archangel" or
"the Company") is pleased to announce that its Annual Meeting of Shareholders
was held in Toronto, Ontario on June 25, 2008 at which:

    
    -   Management's nominees for the Board of Directors of the Company,
        being Bruce Cleaver, Jonathan Dickman, Tom Beardmore-Gray, Clive
        Hartz, Monty Gordon and Robert Shirriff were unanimously elected as
        directors of Archangel until the next annual meeting of shareholders.
    -   Deloitte & Touche LLP, the incumbent auditors were unanimously
        re-appointed as auditors of the Company to hold office until the next
        annual meeting of shareholders.
    

    During the Meeting, the Company confirmed the closing of a private
placement offering of Subscription Receipts for gross proceeds, upon release
from escrow, of US$172.4 million.

    CAUTIONARY NOTE TO SHAREHOLDERS CONCERNING FORWARD LOOKING STATEMENTS AND
FINANCIAL PROJECTIONS - This news release contains "forward-looking
statements", within the meaning of applicable Canadian securities legislation.
Forward-looking statements include, but are not limited to, statements with
respect to the outcome of future negotiations, completion of the Transaction,
execution of definitive agreement, exercise of future call rights, success of
financing activities, identification or upgrade of mineral resources,
requirements for additional capital, government regulation, results of future
diamond exploration, results of diamond marketing, changes in legal
requirements, changes in the political , environmental liabilities and title
disputes. Generally, these forward-looking statements can be identified by the
use of forward-looking terminology such as "plans", "expects" or "does not
expect", "is expected", "budget", "scheduled", "estimates", "forecasts",
"intends", "anticipates" or "does not anticipate", or "believes", or
variations of such words and phrases or state that certain actions, events or
results "may", "could", "would", "might" or "will be taken", "occur" or "be
achieved". Forward-looking statements are subject to known and unknown risks,
uncertainties and other factors that may cause the actual outcomes, results,
level of activity, performance or achievements of Archangel Diamond
Corporation to be materially different from those expressed or implied by such
forward-looking statements, including but not limited to: risks described in
the above news release; those risks set out in Archangel's disclosure
documents and its annual, interim management discussion and analysis and
annual reports. Although Archangel has attempted to identify important factors
that could cause actual results to differ materially from those contained in
forward-looking statements, there may be other factors that cause results not
to be as anticipated, estimated or intended. There can be no assurance that
such statements will prove to be accurate, as actual results and future events
could differ materially from those anticipated in such statements.
Accordingly, readers should not place undue reliance on forward-looking
statements. Archangel does not undertake to update any forward-looking
statements or financial projections, except in accordance with applicable
securities laws.

    THE TSX VENTURE EXCHANGE DOES NOT ACCEPT RESPONSIBILITY FOR THE ADEQUACY
    OR ACCURACY OF THIS RELEASE.





For further information:

For further information: Ms. Jocelyn Fraser, Archangel - Investor
Relations, Vancouver, British Columbia, Canada, Tel: (604) 731-6164,
jocelyn.fraser@communicate-pa.ca

Organization Profile

ARCHANGEL DIAMOND CORPORATION

More on this organization


Custom Packages

Browse our custom packages or build your own to meet your unique communications needs.

Start today.

CNW Membership

Fill out a CNW membership form or contact us at 1 (877) 269-7890

Learn about CNW services

Request more information about CNW products and services or call us at 1 (877) 269-7890