Diagem Inc.
TSX VENTURE : DGE

Diagem Inc.

December 14, 2007 10:01 ET

Diagem Provides Collier-04 Diamond Size Summary

MONTREAL, QUEBEC--(Marketwire - Dec. 14, 2007) - Diagem Inc. (TSX VENTURE:DGE)("Diagem" or "the Company") reports that 380 diamonds weighing more than 1 carat for a total carat weight of 814 carats have been recovered since March 2007 at the Company's Collier-04 development project in the state of Mato Grosso, Brazil. These larger diamonds represent 7.8% of the total carat weight of all diamonds larger than 1.7 mm. The September, October and cumulative diamonds of 1 carat and more are summarized below as an addendum to the December 13, 2007 press release.




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Table 1: Collier-04 Diamonds weighing more than 1 carat
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No of Diamonds No of Carats
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Carat Range 1-2 ct 2-4 ct 4-10 + 10 ct 1-2 ct 2-4 ct 4-10 ct + 10 ct
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Sep 2007 28 13 5 1 36.3 34.2 23.6 11.8
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Oct 2007 60 17 8 1 84.0 44.6 45.2 11.3
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133 291
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Mar-Oct 2007 274 69 31 6 369.69 185.62 167.42 90.82
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380 814
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Since March, 2007, a total of 86,210 diamonds weighing 10,461 carats have been recovered from the processing of 27,882 cubic metres of in situ material at Collier-04. This represents an average diamond grade of 0.37 carats per cubic metre and an average carat weight of 0.12 carats per diamond.

The Company activated its Collier-04 diamond reporting with the Cadastro Nacional do Comercio de Diamantes ("CNCD") in Brazil, which is part of the revised protocol for the certification of the Kimberley Process. This will enable the Company to ship its diamonds to Antwerp for appraisal and marketing.

This press release has been reviewed by Mousseau Tremblay, Ph.D., P. Eng., Diagem's Chairman and a qualified person under National Instrument 43-101.

About Diagem

Diagem Inc. is a publicly listed Canadian exploration-stage company focused on primary diamondiferous resources in the Juna Diamond Province of Mato Grosso, Brazil, where it controls a large portfolio of mineral properties. The Company has one advanced development stage project and recently discovered two clusters of kimberlite pipes believed to be the main sources of Juina's historical alluvial diamond production. The historical Juina alluvial diamond production is commonly referred to as "Indian goods" based on the generally lower quality of the diamonds. However, the Chapad?o area is accessible year round and is amenable to open pit mining which translates into low extraction costs. Preliminary diamond grades are also encouraging (see press release dated January 11, 2007). The area is also known for the occurrence of a valuable rare type of diamonds often harbouring a fancy pink colour (see press release dated November 13, 2007).

Forward-looking statements: Except for statements of historical fact, all statements in this news release, without limitation, regarding new projects, acquisitions, future plans and objectives are forward-looking statements which involve risks and uncertainties. There can be no assurance that such statements will prove to be accurate; actual results and future events could differ materially from those anticipated in such statements.

THE TSX VENTURE EXCHANGE DOES NOT ACCEPT RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS PRESS RELEASE

Contact Information

  • Diagem Inc.
    Denis Francoeur
    CEO
    514-866-6001 ext 265
    or
    Diagem Inc.
    Paul Einarson
    CFO
    514-866-6001 ext 251
    www.diagem.com
    or
    Nicole Blanchard
    Investor Relations
    450-973-6690