Rockwell Diamonds Announces Delay in Filing of Annual Filings

    VANCOUVER, May 29 /CNW/ - Rockwell Diamonds Inc. ("Rockwell" or the
"Company") (TSX: RDI; JSE: RDI; OTCBB: RDIAF) today announced the delayed
filing of the Company's financial statements for the year ended February 28,
2009, including the related management discussion and analysis, annual
information form and CEO and CFO certifications (collectively, the "Required
    Management and the Audit Committee concur with the Company's auditors
that the Company will be unable to file the Required Documents before the
required deadline primarily because of an apparent material breakdown in the
Company's internal controls, which in management's view are related in part to
changes arising over the last approximately six months including a change of
the Company's Chief Financial Officer, change of year-end and change of
    The Company is working diligently with its accounting staff and its
auditors to address the issues raised by the auditors and anticipates that it
will be in a position to file the Required Documents on or before June 26,
    In the interim, the Company will apply to the applicable securities
regulatory authorities for a management cease trade order related to the
Company's securities to be imposed against some or all of the persons who are
or have been directors, officers or insiders of the Company for so long as the
Required Documents are not filed. If granted, a management cease trade order
would not generally affect the ability of persons who have not been directors,
officers or insiders of the Company to trade the securities of the Company.
However, the applicable securities regulatory authorities, in their
discretion, may determine that it would be appropriate to issue a general
issuer cease trade order which would prohibit trading of the Company's
    Until the Required Documents are filed, the Company intends to provide
information in accordance with National Policy 12-203 Cease Trade Orders for
Continuous Disclosure Defaults.

    John Bristow
    President and CEO

     No regulatory authority has approved or disapproved the information
                       contained in this news release.

For further information:

For further information: on Rockwell Diamonds Inc., please visit the
Company's website at or contact Investor Services at
(604) 684-6365 or within North America at 1-800-667-2114

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