De Beers Canada Victor Mine named "Mine of the Year"

TORONTO, Oct. 9 /CNW/ - The De Beers Canada Victor Mine has been named "2009 Mine of the Year" by the readers of the prestigious international trade publication Mining Magazine.

The award was announced last night at the Mining Magazine Centenary Awards Gala, which was held in Canada for the first time at Niagara-on-the-Lake. On hand to accept the award were De Beers Canada President & CEO Jim Gowans and Victor Mine General Manager Peter Mah.

"De Beers Canada is honoured that the readers of Mining Magazine around the world have voted our De Beers Canada Victor Mine the 2009 Mine of the Year", said De Beers Canada President & CEO Jim Gowans. "The De Beers Canada Victor Mine safely opened ahead of schedule, under budget and reached full production in just six months, which is quite an accomplishment for Ontario's first diamond mine. The Victor Mine is contributing to the growth of De Beers Canada and De Beers worldwide".

Mining Magazine nominates mines, suppliers and manufacturers from around the world, giving readers the opportunity to vote in a total of 14 mining categories to recognize technologies, equipment and operations that are deemed notable or significant to the industry in a particular year.

"This award is recognition of the dedication and commitment of our employees, business partners and community partners that pull together to make the De Beers Canada Victor Mine successful", said De Beers Canada Victor Mine General Manager Peter Mah. "We are tremendously excited about the future of the Victor Mine and look forward to working with our partners to build that future".

The De Beers Canada Victor Mine is located in the James Bay Lowlands of Northern Ontario on the traditional lands of Attawapiskat First Nation. The Victor Mine is a fly-in, fly-out remote mine that employs approximately 500 people. Officially opened in July 2008, the Victor Mine is an open pit operation with an estimated twelve year life of mine. There are an additional fifteen diamond-bearing kimberlites located in the Victor Mine lease area that were previously identified by De Beers exploration in 1987-88 when the Victor pipe was discovered. Advanced exploration work continues on several pipes in the Victor cluster to assess their economic potential.

De Beers Canada also operates the Snap Lake Mine in the Northwest Territories, which is De Beers first mine outside of Canada and the only diamond mine in Canada that is completely underground. De Beers Canada has recently entered into a feasibility study regarding its Gahcho Kué joint venture project, also located in the Northwest Territories.

SOURCE De Beers Canada Corporation

For further information: For further information: Tom Ormsby, Director, External and Corporate Affairs, De Beers Canada Inc, T: (416) 645-1710 x 2151, C: (416) 525-5328, F: (416) 429-2462

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