Diamond Fields and David Heydon Sign Deep Sea Mining Agreement

VANCOUVER, March 24 /CNW/ - Diamond Fields International Ltd. (DFI:TSX) ("DFI" or the "Company") is pleased to announce that it has entered into an agreement with DeepGreen Resources Inc. and its Chairman David Heydon, to jointly develop non-diamond marine deposits identified by DFI. David Heydon was the founding President and CEO of Nautilus Minerals Inc. (NUS:TSX), the first company to commercially explore the seafloor for massive sulphide deposits, a potential source of high grade copper, gold, zinc and silver. He was responsible for Nautilus's corporate strategy, including the introduction of major resource companies - Barrick Gold, Gazmetall Holding an associate of Metalloinvest one of the largest and fastest growing mining and metallurgical holdings in Russia, Anglo American plc, and Teck Cominco Limited as shareholders. In addition, Mr. Heydon led the Initial Public Offering ("IPO") of Nautilus on the TSX and AIM, raising over US$360 million in the first two years to fund development of the world's first deep sea copper - gold mine at a water depth of 1,600 metres.

David Heydon commented, "I am excited to team up with Diamond Fields, one of the few established marine mining companies. We will be following the lead set by the offshore oil and gas industry to tap vast offshore resources."

Wayne Malouf, DFI's Chief Executive Officer said "Diamond Fields previously announced that it was expanding its marine mining business and targeting opportunities globally. The Company is very fortunate to be working with someone of David Heydon's reputation and expertise in that endeavor."

DIAMOND FIELDS INTERNATIONAL LTD.

"Wayne Malouf"

Wayne Malouf, Chief Executive Officer

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.

SOURCE Diamond Fields International Ltd.

For further information: For further information: Wayne Malouf at (604) 685-9911, Website: www.diamondfields.com

Organization Profile

Diamond Fields International Ltd.

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