SOURCE: Dolat Ventures, Inc.

May 29, 2012 16:11 ET

Dolat Ventures Announces Diamond Prices Continue to Rise in 2012 'Sparkling' Demand for Gems

Market for Diamonds Stable Compared With Global Equities

NEW YORK, NY--(Marketwire - May 29, 2012) - Dolat Ventures Inc. (OTCBB: DOLV) announced today that prices of rough diamonds are expected to rise this year driven by recovering consumer demand in the United States and a robust appetite for the gems in Asia as stated by the head of the World Diamond Council (WDC) in Reuters on Monday.

"We see this as a positive trend in pricing of rough stones to be very beneficial for raising capital and completing our projected goals in Sierra Leone," said Dovid Hauck, President of Dolat Ventures.

"Prices have been stabilizing and (are heading) towards going up again. Outlook seems to be bullish," the WDC President Eli Izhakoff said in an interview at the annual meeting of the council representing diamond manufacturing and trading companies held this year in northern Italy. "I think the prices will end the year ... higher... with strong demand in the U.S. as the world's biggest consumer of polished diamonds shows signs of economic recovery. Forecasts for demand in India and China are also very positive and diamond demand is expected to exceed supplies this year, giving fundamental support to prices," added Izhakoff.

Asia's growing appetite for diamonds has helped the sector offset weaker patches elsewhere and is key to several market debuts in the pipeline as in the Hong Kong $1billion initial public offering (IPO) of London-based high end jeweler Graff Diamonds.

"The market expects stable rough diamond prices in 2012, with the second half of the year seeing further improvement. Looking to 2013 and beyond, we are more optimistic, though the economic turmoil in Europe will continue to weigh on sentiment," the RBC capital Markets analysts wrote.

Dolat's Millenium Mining is located in the Sewa River, located in the heart of Sierra Leone, formed by the junction of the Bagbe and Bafi rivers; it flows 150 mi (240 km) to join the Waanje River and form the Kittam, which empties into the Atlantic Ocean. The country's most important commercial river, it has historically produced the bulk of Sierra Leone's diamond exports.

About Dolat Ventures Inc. (OTCBB: DOLV)
Dolat Ventures Inc., through its wholly owned subsidiary Dove Diamonds & Mining, intends to sell, market, cut and distribute its diamonds and gems around the world. The company intends to purchase rough and uncut diamonds and gems from international suppliers globally.

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