GGL Diamond Corp.

GGL Diamond Corp.

June 17, 2009 05:00 ET

GGL Diamond Corp.: Kennecott to Conduct Ground Gravity Survey on CH Project Area

VANCOUVER, BRITISH COLUMBIA--(Marketwire - June 17, 2009) - Raymond A. Hrkac, President and CEO of GGL Diamond Corp. (TSX VENTURE:GGL) ("GGL") is pleased to announce that GGL has been informed by Kennecott Canada Exploration Inc. ("Kennecott") of its intentions to conduct a ground gravity survey on the CH Project Area ("Property") about 250 kilometers north of Yellowknife, Northwest Territories.

In February, GGL and Kennecott signed an Exploration and Option Agreement which gives Kennecott the sole and exclusive right and option to acquire, subject to Royalties, a 100% interest in the Property, by incurring expenditures of $10,000,000 on or before December 31, 2016, of which $900,000 is a commitment and must be spent on or before December 31, 2011. In order to exercise the option Kennecott must provide GGL additional yearly payments beginning in 2013, to total $1,000,000 on or before December 31, 2016.

Under the direction of Kennecott, GGL has contracted Aurora Geosciences Ltd. to conduct the gravity survey on lake and land-based targets on the Shoe mineral claims, 45 kilometers west of the Diavik Diamond Mine, which hosts the potential for a cluster of diamondiferous kimberlites. Crews have mobilized into the property for the gravity survey which will help define additional targets within the kimberlite indicator mineral train.

The Shoe claims are part of the extensive CH Project area, covering nearly 175,000 acres, which lies within an area measuring 60 km east-west by 80 km north-south, and starts 30 km west of the Diavk Diamond Mine. GGL has already discovered four kimberlites on the property, one of which, the Bishop kimberlite, is diamondiferous.


GGL is a Canadian mineral exploration company whose present focus is on its gold properties as well as copper-gold, VMS, nickel and diamonds. All of its properties are located in Canada.


Ms. Susan de Stein, Vice-President of Adminstration has resigned as an officer of GGL due to personal reasons.


Raymond A Hrkac, President & CEO

Forward-Looking Information: This news release contains "forward-looking statements" and the cautions regarding such statements apply.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

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