CAPE TOWN, June 7 /CNW/ - Diamond Fields International Ltd. (DFI:TSX)
("DFI" or the "Company") is pleased to announce the continuation of excellent
production levels from marine diamond mining from its joint operations program
with Bonaparte Diamond Mines NL ("Bonaparte").
Gem diamond production from marine diamond mining operations in the Diaz
Prospect 1 joint operations mining area, offshore Namibia continues to deliver
strong results. The previous best monthly production of 3,189 carats of
diamonds in April 2007 has been exceeded in May 2007 with the recovery of
8,578 diamonds weighing 3,529 carats at an average of 0.41 carats/stone. Total
production since commencement of joint operations mining up to 31 May 2007 now
stands at 24,971 diamonds for 10,756 carats at an average size of
To date a total of 6,766 carats have been sold at an average price of
US$222/carat generating total sales revenue of US$1,492,649. A further sale of
approximately 3,850 carats is expected to be completed in June 2007.
In terms of the joint operations mining agreement Bonaparte has the right
to 30% of the proceeds from the sale of diamonds recovered during the mining
operations and is obligated to pay 30% of agreed operating and sales costs.
Roger Daniel, DFI's President and CEO, commented: "The production and
sales results continue to be excellent and we are delighted with the ongoing
success of the joint operations with Bonaparte with whom we are currently
discussing further cooperation to extend the mining program and increase the
mining reserve for the project".
Roger J. Daniel, B.Sc. (Hons) Geology, London, Pr.Sci.Nat., the Company's
President and CEO, who is a Fellow of the South African Institute of Mining
and Metallurgy (SAIMM), is also a registered geological scientist with the
South African Council for Natural Scientific Professions (SACNASP), and is
thus a Qualified Person in terms of National Instrument 43-101, has compiled
and reviewed the scientific and technical information contained in this News
DATED June 7, 2007.
DIAMOND FIELDS INTERNATIONAL LTD.
"Roger J. Daniel"
Roger J. Daniel, President and CEO
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
For further information:
For further information: Roger Daniel at +27 21 425 1990, Website: