GGL Diamond Corp.

GGL Diamond Corp.

March 29, 2005 18:40 ET

GGL Diamond Corp. Confirms Drilling on 'Big Hole' Planned for Mid-April


NEWS RELEASE TRANSMITTED BY CCNMatthews

FOR: GGL DIAMOND CORP.

TSX VENTURE SYMBOL: GGL

MARCH 29, 2005 - 18:40 ET

GGL Diamond Corp. Confirms Drilling on 'Big Hole'
Planned for Mid-April

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - March 29, 2005) - GGL
Diamond Corp. (TSX VENTURE:GGL)

NOT FOR DISSEMINATION IN THE UNITED STATES

Raymond A. Hrkac, President and CEO of GGL Diamond Corp. confirms
drilling plans for the "Big Hole" kimberlite target on the company's
100%-owned Fishback property, located 65 kilometres northwest of
Yellowknife, NWT.

A core drilling program is scheduled to commence in mid-April on the
Fishback property. Four holes will test three kimberlite targets by core
drilling (NQ-2 inch).

Two vertical holes, 200 metres apart, will be drilled into the southern
part of the 75-metre deep, steep-walled "Big Hole" in order to test a
gravity low/electromagnetic conductive target, estimated at between
500-900 metres in diameter. These holes are located 1.3 kilometres south
of the land-based drill hole FB-04-01 drilled in July 2004 (News
Release, June 30, 2004).

The holes will be drilled by setting approximately 100 metres of casing
through 75 metres of water plus an estimated 25 metres of overburden.
GGL's geologists anticipate that bedrock will be encountered at about
100 vertical metres based on the modeling of the electromagnetic
signature (News Release, June 7, 2004).

Two additional drill holes are planned to test two separate kimberlite
targets. Each of these will be drilled at an incline from the western
shore of Awry Lake. One hole will test a magnetic high/gravity high
target and the other will test a magnetic low target.

This property has been explored by GGL on its own and with other
partners since 1994. The "Big Hole" was first identified in 2000 using
seismic and bathymetry surveys. The presence of kimberlite indicator
minerals, granite breccia boulders (containing kimberlitic indicator
minerals) down ice of the "Big Hole", geophysical data and a kimberlite
signature in lake sediment samples for two of the targets all point to
these being viable drill targets. Given its size, its potential for
kimberlite, and close proximity to Yellowknife and nearby
infrastructure, the "Big Hole" has the potential to have a significant
impact on the Company.

Torrie Chartier, M.Sc., MBA and consulting geologist for GGL Diamond
Corp., is the Qualified Person and has reviewed the data contained
herein.

GGL DIAMOND CORP.

Raymond A. Hrkac, President & CEO

For Disclaimer Notification, please check our website at
www.ggldiamond.com/disclaimer.html.


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Contact Information

  • FOR FURTHER INFORMATION PLEASE CONTACT:
    GGL Diamond Corp.
    Susan de Stein
    (604) 684-3376
    www.ggldiamond.com
    The TSX Venture Exchange has not reviewed and does not accept
    responsibility for the adequacy or accuracy of this release.