Litigation Update - Denver Court Orders Evidentiary Hearing

    TORONTO, June 11 /CNW/ - The Denver District Court has ordered an
evidentiary hearing on the issue of personal jurisdiction and, accordingly,
has ordered that Archangel Diamond Corporation's main case against LUKoil be
stayed pending resolution of the outstanding jurisdictional issue.
    Archangel's claims against LUKoil had been remanded to the Denver
District Court following the Colorado Supreme Court's ruling dated March 5,
2007 denying LUKoil's second petition for certiorari. LUKoil then filed a
motion with the Denver Court requesting an evidentiary hearing to resolve the
factual issue in dispute going to personal jurisdiction. Although Archangel
opposed LUKoil's motion and argued that LUKoil should file a full answer to
Archangel's original complaint, the Denver Court granted LUKoil's motion on
July 7, 2007. The Court ruled that, in accordance with the Colorado Supreme
Court's directions on remand of the case, it was appropriate to determine
whether LUKoil was subject to jurisdiction in Colorado before proceeding to
full discovery or a trial on the merits. Accordingly, the Denver Court ordered
a pre-trial evidentiary hearing with limited discovery on whether LUKoil is
subject to general personal jurisdiction in Colorado through its alleged
ownership or maintenance of a gas station in Glendale, Colorado during the
relevant time period. The date of the hearing and scope and timing of the
limited discovery are still to be determined.

    The TSX Venture exchange has neither approved nor disapproved the
    contents of this news release.

For further information:

For further information: Marina Mayorova, Archangel Diamond Corporation,
Moscow, Tel: ++ 11 7 495 232 5570,; Archangel
Diamond Corporation, Toronto, Tel: (416) 423-1600

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