Rockwell Diamonds Inc.
OTC Bulletin Board : RDIAF

Rockwell Diamonds Inc.

December 03, 2007 13:59 ET

Rockwell Obtains Record Price of US$145,000 Per Carat for a 7.28 Carat Pink Diamond

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Dec. 3, 2007) - Rockwell Diamonds Inc ("Rockwell" or the "Company") (TSX VENTURE:RDI) (OTCBB:RDIAF) (JSE:RDI) reports on the sale of a rare 7.28 carat pink diamond recovered from its Holpan operation north of Kimberley in the Northern Cape Province, South Africa.

At the Company's 10th tender sale concluded in Johannesburg on November 28, 2007, Rockwell achieved a record price of US$1.054 million or US$145,000 per carat for a 7.28 carat, flawless intense pink, rounded octahedral diamond produced at the Holpan operation. At Holpan, the Company is mining diamond bearing surface alluvial material referred to as Rooikoppie deposits, and scattered remnants of underlying palaeo-channel gravel deposits.

The US$145,000 per carat value achieved for this stone is exceptional. It represents a record price for diamonds sold by the Company since Rockwell acquired its 51% ownership in the H C Van Wyk Diamonds Limited alluvial diamond operations and projects in South Africa in early 2007.

Pink diamonds are exceptionally rare on a world wide basis, with the only source known to produce such stones with some regularity being the Argyle diamond mine in Western Australia. The Argyle mine, which is owned by Rio Tinto, is famous for its annual 'pink diamond tender'.

President and CEO Dr. John Bristow stated "The recovery of a pink diamond from our Holpan operation is particularly exciting. The achievement of a record price for this stone attests to the potential for exceptional rarity, quality and value of the diamonds that are recovered from our unique Northern Cape alluvial diamond deposits."

For further details 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.

John Bristow

President and CEO

Forward Looking Statements

This release includes certain statements that may be deemed "forward-looking statements". Other than statements of historical fact all statements in this release that address future production, reserve or resource potential, exploration drilling, exploitation activities and events or developments that each Company expects are forward-looking statements. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in the forward-looking statements. There is no certainty of the financing completing. Factors that could cause actual results to differ materially from those in forward-looking statements include market prices, exploitation and exploration successes, changes in and the effect of government policies regarding mining and natural resource exploration and exploitation, availability of capital and financing, geopolitical uncertainty and political and economic instability, and general economic, and market or business conditions. Investors are cautioned that any such statements are not guarantees of future performance and that actual results or developments may differ materially from those projected in the forward-looking statements. For more information on Rockwell, Investors should review Rockwell's annual Form 20-F filing with the United States Securities and Exchange Commission and the Company's home jurisdiction filings that are available at

No regulatory authority has approved or disapproved the information contained in this news release. The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release.

Contact Information

  • Rockwell Diamonds Inc.
    Shawn Wallace
    Investor Services
    (604) 684-6365 or within North America at 1-800-667-2114
    (604) 684-8092 (FAX)