GREAT WESTERN DIAMONDS CORP.
TSX VENTURE : GWD

GREAT WESTERN DIAMONDS CORP.

January 24, 2007 17:33 ET

Great Western Diamonds Corp.: C28 News Release Correction

SASKATOON, SASKATCHEWAN--(CCNMatthews - Jan. 24, 2007) - Great Western Diamonds Corp. ("the Company") (TSX VENTURE:GWD) has been advised that under CIM Guidelines it is inappropriate to extrapolate diamond grade in carats per 100 tonnes for diamonds under 0.80 mm. The Company therefore retracts the statements which identify these extrapolated grades. Table One details the diamond recoveries and the total carats recovered in each interval.

Notably the Company specifically stated that these were simple arithmetic extrapolations and therefore were not meant to represent the grade for the kimberlite. These simple arithmetic diamond abundances are commonly used as an exploration tool.



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Table 1: Kimberlite Intervals and Diamond Counts
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Kimberlite Kimberlite Sample
Hole Interval Sampled Weight
Number From To m m kg
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C28-06-12 111.94 147.2 35.26 34.41 117.1
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C28-06-13 121.65 145.35 23.7 23.7 88.3
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Including 124 136 12 12 44.45
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C28-06-14 111 158.15 47.15 46.1 164.4
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Including 113 122 9 9 33.6
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136.5 144 7.5 7.5 17.75
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CL28-06-15 125 235.85 110.85 102.25 399.9
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Including 226 230.5 4.5 4.5 19.1
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CL28-06-16 115 156.95 41.95 40.85 145.65
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CL28-06-17 No Kimberlite
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CL28-06-18 112.5 162.5 50 46.05 170.2
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CL28-06-19 108.35 229.2 120.85 110.45 433.29
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including 153 200.8 47.8 47.8 200.4
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including 176 200.8 24.8 24.8 107.5
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CL28-06-20 109.8 140.9 31.1 31.1 118.85
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Number of Number of Total
Hole Macro Micro Total Stones/ Total
Number Diamonds(1) Diamonds Diamonds 10kg Carats
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C28-06-12 0 49 49 4.2 .00437
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C28-06-13 0 59 59 6.7 .00586
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Including 0 36 36 4.5 .00504
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C28-06-14 1 86 87 5.3 .00965
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Including 1 22 23 3.3 .00377
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0 26 26 5.1 .00390
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CL28-06-15 0 219 219 5.5 .0148
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Including 0 49 49 10.0 .00258
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CL28-06-16 0 47 47 3.2 .00431
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CL28-06-17
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CL28-06-18 4 87 91 5.3 .02820
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CL28-06-19 8 464 472 10.9 .07120
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including 7 364 371 7.9 .06380
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including 7 309 316 12.6 .05780
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CL28-06-20 0 74 74 6.2 .00483
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Macrodiamonds in this disclosure are defined as diamonds in which two dimensions are greater than 0.5 mm. The previous definition of macrodiamonds used at Candle Lake and by many others was defined as a diamond with one dimension greater than 0.5 mm; for comparison, use of this less stringent cut-off gives recovery of 66 macrodiamonds and 1032 microdiamonds.

Brent C. Jellicoe, P.Geo. is a Professional Geoscientist in the Province of Saskatchewan and is the Qualified Person responsible for the verification and quality assurance of analytical results.

Great Western Diamonds Corp. is an exploration and mine development company currently focused on several diamond prospects including the 100%-owned Candle Lake Diamond Project in central Saskatchewan. Great Western is committed to increasing shareholder value through an aggressive, results-driven exploration and evaluation program targeted on reaching a pre-feasibility decision on the Candle Lake kimberlites by the end of 2007. While Candle Lake is the core diamond project, the Company continues to build a balanced and geographically diverse project portfolio with both advanced and grass-root diamond properties.

Brent Jellicoe, P.Geo., President & CEO

The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of the foregoing contents

Contact Information

  • Great Western Diamonds Corp.
    Brent Jellicoe
    President & CEO
    (306) 668-0701
    or
    Great Western Diamonds Corp.
    Doug Patrick
    (306) 961-2785
    or
    Great Western Diamonds Corp.
    226 Cardinal Crescent
    Saskatoon , SK S7L 6H8
    Email: info@gwdc.ca
    Website: www.gwdc.ca