Archangel Diamond Corporation

Archangel Diamond Corporation

May 04, 2009 11:03 ET

Archangel Diamond Corporation to Explore Financing and Debt Restructuring Options

TORONTO, ONTARIO--(Marketwire - May 4, 2009) - Archangel Diamond Corporation ("Archangel" or the "Corporation") (TSX VENTURE:AAD) announces that the financing and debt restructuring set out in its news release dated March 20, 2009 will not proceed. The corporation is seeking alternative financing to meet its immediate obligations.

There can be no assurance that Archangel will be able to secure such financing or that the terms of any financing will be acceptable to the corporation or the TSX Venture Exchange.

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 news release.

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