Diagem Inc.
TSX VENTURE : DGE

Diagem Inc.

October 10, 2008 13:26 ET

Diagem Ceases Activities in Brazil Until IBAMA Embargo Is Resolved

MONTREAL, QUEBEC--(Marketwire - Oct. 10, 2008) - The Board of Directors of Diagem Inc. ("Diagem" or "the Company") (TSX VENTURE:DGE) have decided to cease its Juina-based exploration and development activities until the embargo placed on its Chapadao Project by the Brazilian Federal Environmental Agency ("IBAMA") can be successfully resolved. The Company is pursuing discussions with various parties with a view to the possible disposition of some or all of its mineral properties, processing plants, and equipment.

About Diagem

Diagem Inc. is an exploration-stage Canadian public company focused on primary diamondiferous resources in the Juina Diamond Province of Mato Grosso, Brazil, where it controls a large portfolio of mineral properties. The Company has discovered two clusters of kimberlite pipes believed to be significant sources of Juina's historical alluvial diamond production.

Forward-looking statements

Except for statements of historical fact, all statements in this news release, without limitation, regarding new projects, acquisitions, future plans and objectives are forward-looking statements which involve risks and uncertainties. There can be no assurance that such statements will prove to be accurate; actual results and future events could differ materially from those anticipated in such statements.

THE TSX VENTURE EXCHANGE DOES NOT ACCEPT RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS PRESS RELEASE

Contact Information

  • Diagem Inc.
    Denis Francoeur
    CEO
    514-448-4961 (ext. 505)
    or
    Diagem Inc.
    Paul Einarson
    CFO
    514-448-4961 (ext. 502)
    www.diagem.com