GREAT WESTERN DIAMONDS CORP.
TSX VENTURE : GWD

GREAT WESTERN DIAMONDS CORP.

December 14, 2007 19:00 ET

Clarification of Expiry Time of Take-Over Bid for Great Western Diamonds Corp.

SASKATOON, SASKATCHEWAN--(Marketwire - Dec. 14, 2007) -

NOT FOR DISSEMINATION IN THE UNITED STATES OR FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES

Vaaldiam Resources Ltd. (TSX:VAA) ("Vaaldiam") and Great Western Diamonds Corp. ("Great Western") (TSX VENTURE:GWD) announced today that the expiry time for the take-over bid by Vaaldiam for all of the Great Western common shares is 8:00 p.m. (Toronto time) on December 17, 2007. Great Western shareholders have until that time to tender their shares in accordance with the provisions set forth in the take-over bid circular previously mailed to Great Western shareholders and filed on SEDAR (unless the bid is otherwise extended). The take-over bid circular had incorrectly referenced 5:00 p.m. (Toronto time) in certain places within the document and these references should be read as 8:00 p.m. (Toronto time).

Great Western Diamond Corp. is an exploration and mine development company that is operated on a vision of growth and substantial enhancement of shareholder value based on a balance of management experience, technical expertise, and expansion of operations. GWD currently is focused on the 100%-owned Candle Lake Diamond Project in central Saskatchewan where an aggressive, results-driven evaluation program is targeted on reaching an advancement decision on the Candle Lake kimberlites by the end of 2008. 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 in Canada and Brazil.

Brent Jellicoe, P.Geo, President & CEO

The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release.

Contact Information

  • Great Western Diamonds Corp.
    Gord Dent
    Manager of Investor Relations
    (306) 668-0701
    Email: info@gwdc.ca
    Website: www.gwdc.ca