SOURCE: Longview Capital Partners Incorporated

February 20, 2007 08:30 ET

Longview Capital Partners Acquires Diamond Assets

VANCOUVER, BC -- (MARKET WIRE) -- February 20, 2007 -- Longview Capital Partners Incorporated (TSX-V: LV) is pleased to announce that it has directly acquired a substantial portfolio of diamond properties in and around the Kimberley Basin in Western Australia. Licenses covering over 3,000 square kilometres have been acquired in four key diamonds areas -- North Kimberley, Halls Creek Orogenic Zone, South-Central Kimberley and West Kimberley. These assets were acquired as part of Longview Capital's business strategy of identifying, acquiring and publicly listing high quality resource projects. The Kimberley diamond assets represent one of 15 private opportunities that Longview Capital is currently advancing, with a view to listing each on the TSX-Venture Exchange.

The North Kimberley area includes the King George project, with 7 known kimberlites and 377 alluvial diamonds recorded as being recovered. The Casuarina project has had 109 alluvial diamonds recovered from 14 alluvial sites. The Halls Creek Orogenic Zone and Argyle Area includes four projects, the first being Ivanhoe hosting 6 alluvial sites, with kimberlite and lamprolite targets as well. The Flying Fox East project is down drainage from the Argyle Mine, the largest diamond producer in the world by volume. The Wilson River project is the third, adjacent to the Maude Creek diamondiferous kimberlite owned by Northern Star Resources. The Impact project has had 13 diamonds recovered from 8 alluvial sites and is near the Durack kimberlite.

The South Kimberley Area hosts the Phillips Range project, covering 1,372 square kilometres, with more applications in progress. Formerly held by BHP, the area hosts a number of new kimberlite discoveries, found via BHP's Falcon gravity system. The Aries group of kimberlites in the area are mostly diamondiferous, including Aries, which has the largest surface area in Australia. The West Kimberly area includes McSherry Gap and Oscar Plateau, within the same belt that hosts the Ellendale lamprolites currently being mined by Kimberley Diamond Company. The Ellendale resource is quoted to be 78 million tonnes at a grade of 6.4 cpht.

Longview Capital will utilise its team of diamond specialists within the Longview Technical division to prioritise targets and begin an aggressive exploration campaign on the Kimberley projects, while pursuing the optimal path to unlocking shareholder value in these assets. Damien Reynolds, Chairman and Chief Executive Officer notes, "Longview Capital Partners plans to accelerate the growth it achieved in 2006. This will involve executing a range of transactions in a variety of resource sectors, such as this acquisition of substantial holdings in a very impressive diamond district. We are confident that our reported earnings per share will continue to grow as we find new ways to capitalise on the Company's business model."

Longview Capital Partners acquired the Kimberley diamond assets by paying $150,000 now and a further $500,000 on November 30, 2007 to capture an effective 64% interest in the properties, subject to a 2% gross overriding royalty to the vendors. The vendors will have a carried interest up to the completion of a bankable feasibility study.

Longview is an Investment Issuer, focused on capitalizing on early stage opportunities in the resource sector.

On behalf of the Board of Directors,

Damien Reynolds,
Chairman & CEO
For more information on Longview Capital Partners Incorporated, please visit our website at www.longviewcp.com, or call the Company at (604) 681-5755.

Statements in this news release, other than purely historical information, including statements relating to the Company's future plans and objectives or expected results, constitute Forward-looking statements. Such statements are based on numerous assumptions and are subject to all the risks and uncertainties inherent in the Company's business, including risks related to mineral exploration and development. Consequently, actual results may vary materially from those described in the forward-looking statements.

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

Contact Information

  • Contact:
    Longview Capital Partners Incorporated
    Phone: (604) 681-5755
    Website: www.longviewcp.com