MOYDOW MINES INTERNATIONAL INC.
TSX : MOY

MOYDOW MINES INTERNATIONAL INC.

September 07, 2005 11:17 ET

Moydow Commences Airborne Geophysical Survey on Diamond Project

TORONTO, ONTARIO--(CCNMatthews - Sept. 7, 2005) - Brian Kiernan, President and CEO of Moydow Mines International Inc, (TSX:MOY)announced that Moydow has commenced an airborne geophysical and topographic survey of its Dala diamond project which is located in the Lunda Sul province of Angola. Moydow has appointed the Council for Geoscience of South Africa, a company with many years of experience, to conduct the extensive airborne survey which began on Sunday 28th of August.

The Dala diamond prospecting concession extends over an area of 3000 square kilometres and is located just south of the town of Saurimo in north eastern Angola, a well known diamond producing region. The concession lies between the Petra Diamonds/BHP Billiton Alto Cuilo concession immediately to the east and the Petra Diamonds/BHP Billiton Muriege concession immediately to the west. The large Catoca diamond mine lies just north of the Moydow Dala concession. Recently, it was reported that BHP Billiton entered into a joint venture agreement with Petra on the Alto Cuillo project with BHP Billiton earning up to a 75% interest in Petra's interest by spending up to US$60 million.

The airborne survey will consist of 15,000 line kilometres which will be flown at a line spacing of 150 metres and at a height of 80 metres. The survey will be flown over the whole of the concession and will include radiometrics and magnetics. It is envisaged that the survey will be finished by the middle of September and that results will be available soon thereafter.

Moydow and its joint venture partner, Concord Minerals LLC, have entered into an agreement with Endiama, the Angolan state diamond mining company and Cimader EP, a local company, to explore for diamonds on the Dala diamond concession. Alluvial diamonds have already been identified on the concession and kimberlite indicator minerals were identified in the 1970's by Condiama and Diamang. Under the terms of the agreement, Moydow and Concord have a combined 33% interest in the concession with the remaining percentage owned by Endiama and Cimader. Moydow and Concord will be responsible for conducting exploration and any development on the property.

Moydow Mines is engaged in the acquisition, exploration and development of mineral properties worldwide. Corporate information is available on the Company's website www.moydow.com. The Company is listed on the Toronto Stock Exchange (symbol "MOY").

"Signed"

Brian Kiernan

President & CEO

Contact Information

  • Moydow Mines International Inc.
    Michael Power
    Vice President, Corporate Development
    416-703-3751
    www.moydow.com