Shares Issued and Outstanding: 22,857,675
TORONTO, March 10, 2014 /CNW/ - Kennady Diamonds Inc. ("Kennady
Diamonds", the "Company") (TSX-V: KDI) is pleased to announce the
appointment of Robert Parsons to the Company's board of directors.
Mr. Parsons is a Chartered Accountant and retired PricewaterhouseCoopers
partner after a career spanning 34 years. He currently serves on the
International Affairs Committee of the Prospectors and Developers
Association of Canada. He has served on the boards of the PDAC
(1985-2003), the Indonesian Mining Association, the Canada Indonesia
Chamber of Commerce, the World Mines Ministries Forum, the Canadian
Minerals Industry Federation, the Advisory Council of the Centre for
Resource Studies at Queens University, and the Professional Advisory
Board of the Government of Canada's Petroleum Monitoring Agency. He has
previously served on the boards of several listed exploration companies
and is currently a director of Indico Resources Ltd., Prism Resources
Inc., and Eagle Hill Exploration. In 2013, the Government of Canada
awarded Mr. Parsons the Queen Elizabeth II Diamond Jubilee Medal for
his contribution to Canada's mining industry. Mr. Parsons is a graduate
of McGill University (B.Com, 1968) and a resident of Vancouver, BC.
Jonathan Comerford, chairman of Kennady Diamonds, said: "We are
delighted to welcome Bob as a director and look forward to the
contribution he will make to Kennady Diamonds".
About Kennady Diamonds
Kennady Diamonds Inc. controls 100 percent of the Kennady North diamond
project located immediately to the north, west and south of the Gahcho
Kué diamond mine currently under development by De Beers and Mountain
Kennady Diamonds aims to identify a resource along the Kelvin - Faraday
kimberlite corridor of between a 5 and 8 million tonnes and also to
identify new kimberlites outside of the corridor. This tonnage estimate
is based on the drilling completed to date. The potential quantity is
conceptual in nature as there has been insufficient drilling to define
a mineral resource and it is uncertain if further exploration will
result in the target being delineated as a mineral resource.
An 8,500 meter drill program conducted in 2013 returned exceptional
sample grades. A 4.3 tonne sample from the Kelvin kimberlite retuned a
grade of 5.38 carats per tonne. A smaller 116 kg sample from the
Faraday kimberlite returned a sample grade of 11.23 carats per tonne.
The three largest diamonds recovered from the Kelvin kimberlite were a
2.48 carat off-white transparent octahedral, 1.06 carat off-white
broken aggregate and a 0.90 carat off-white transparent irregular. The
recovery of diamonds of this size and quality from a 4.3 tonne sample
is very encouraging.
This news release has been prepared under the supervision of Carl G.
Verley, P.Geo., who serves as the qualified person under National
Neither the TSX Venture Exchange nor its Regulation Services Provider
(as that term is defined in the policies of the TSX Venture Exchange)
has reviewed or accepts responsibility for the adequacy or accuracy of
FORWARD LOOKING INFORMATION
This news release includes certain information that may constitute
"forward-looking information" under applicable Canadian securities
legislation. Forward-looking information includes, but is not limited
to, the Company's strategic plans, future operations, future work
programs and objectives. Forward-looking information is necessarily
based upon a number of estimates and assumptions that, while considered
reasonable, are subject to known and unknown risks, uncertainties, and
other factors which may cause the actual results and future events to
differ materially from those expressed or implied by such
forward-looking information. There can be no assurance that such
information will prove to be accurate, as actual results and future
events could differ materially from those anticipated in such
information. Accordingly, readers should not place undue reliance on
forward-looking information. All forward-looking information contained
in this press release is given as of the date hereof and is based upon
the opinions and estimates of management and information available to
management as at the date hereof. The Company disclaims any intention
or obligation to update or revise any forward-looking information,
whether as a result of new information, future events or otherwise,
except as required by law.
SOURCE: Kennady Diamonds Inc.
For further information:
Kennady Diamonds Inc.
Patrick Evans, President and CEO