MOYDOW MINES INTERNATIONAL INC.

MOYDOW MINES INTERNATIONAL INC.

March 08, 2005 10:24 ET

Moydow Signs Agreement With The Angolan Government To Explore For Diamonds


NEWS RELEASE TRANSMITTED BY CCNMatthews

FOR: MOYDOW MINES INTERNATIONAL INC.

TSX SYMBOL: MOY

MARCH 8, 2005 - 10:24 ET

Moydow Signs Agreement With The Angolan Government To
Explore For Diamonds

TORONTO, ONTARIO--(CCNMatthews - March 8, 2005) - Brian Kiernan,
President and CEO of Moydow Mines International Inc. (TSX:MOY), today
announced that Moydow has signed an agreement and are currently
mobilising equipment and personnel to conduct exploration for diamonds
in the Saurimo region of Angola.

Moydow, together with its strategic partner, Concord Minerals LLC, a
Nevada company, has agreed terms with Endiama, the Angolan state diamond
mining company and Cimader EP, a local Angolan company, to explore for
diamonds on the Dala diamond concession which is located immediately
south of the town of Saurimo and is bordered to the east and west by the
Muriege and the Alto Cuilo diamond concessions, respectively.

The Dala concession comprises some 2000 square kilometres of ground in
the well known diamond producing region of Saurimo in north eastern
Angola. Alluvial diamonds have already been identified on the concession
and evidence of kimberlites on the licence was reported by a Diamang and
Condiama survey of the area in the 1970s.

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.

Mr Kiernan said "We are very excited about this new venture in Angola.
We consider the Dala licence to be one of the most prospective licences
in the country and we are already moving people and equipment in to the
area. We expect to be fully operational on the licence in the next
several weeks. Our initial pass at exploration will focus on geophysics
and geological mapping together with a large sampling programme. Follow
up work will depend on results obtained, but we have budgeted for an
aggressive exploration campaign over the next twelve months."

Shareholders and investors are invited to visit the Moydow booth at the
Prospectors and Developers Association of Canada International
Convention at the Toronto Convention Center on Front Street until
Wednesday where Moydow personnel will be exhibiting the Moydow portfolio
of properties, including the Dala diamond concession.

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 under the symbol "MOY".

"Signed"

Brian Kiernan

President & CEO

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Contact Information

  • FOR FURTHER INFORMATION PLEASE CONTACT:
    Moydow Mines International Inc.
    Michael Power
    Vice President, Corporate Development
    (416) 703-3751
    (416) 367-3638 (FAX)
    www.moydow.com