Peregrine Diamonds Ltd.

Peregrine Diamonds Ltd.
Peregrine Metals Ltd.

Peregrine Metals Ltd.

July 07, 2008 08:26 ET

New Director Appointments to Peregrine Diamonds and Peregrine Metals

VANCOUVER, BRITISH COLUMBIA--(Marketwire - July 7, 2008) - Peregrine Diamonds Ltd. (TSX:PGD) ("Diamonds") and Peregrine Metals Ltd. ("Metals") are pleased to announce the appointment of Mr. Robert Boyd to the board of directors of Diamonds and Ms. Chantal Gosselin to the board of directors of Metals.

Mr. Boyd is a senior mining executive with over 30 years experience in exploration, executive-level management, corporate finance and corporate governance. Mr. Boyd is currently Chairman of the Board of True North Gems Inc. and serves on the Board of Directors of Condor Resources Inc. and Endurance Gold Corporation. He also serves as a Director of the Prospectors and Developers Association of Canada and the Association for Mineral Exploration British Columbia. From 2000 to 2006, Mr. Boyd held the position of President, CEO and Director of Ashton Mining of Canada Inc. Under his tenure, Ashton discovered the Renard diamond deposit in Quebec. Prior to 2000, Mr. Boyd was a founding principal and major shareholder of a financial and strategic advisory firm to the mining and mineral exploration industry and was also Vice President Exploration for Homestake Canada Limited. He received a BSc. in geology from the University of Western Ontario.

From 2006 to April 2008, Ms. Gosselin was a senior mining analyst and partner of Genuity Capital Markets. Prior to joining Genuity, she held positions as a mining analyst with Haywood Securities Inc. and Dundee Securities Corporation. Between 1992 and 2000, Ms. Gosselin held various management positions for Blackhawk Mining Inc., Pan American Silver Corp., Dynatec Mining Corporation and Aur Resources Inc. She received a MBA in business administration from Concordia University and a BSc. in mining engineering from Laval University.

Effective with the appointments of Mr. Boyd and Ms. Gosselin, Bernard Poznanski has resigned as a director of both Diamonds and Metals. The companies would like to thank Mr. Poznanski for his service and the invaluable knowledge and guidance he brought to both boards. He will continue to serve as legal counsel to both Diamonds and Metals.

On June 24, 2008 Diamonds and Metals announced that they had entered into a letter of intent for the purpose of effecting a business combination whereby the two companies will merge to form a new multi-commodity resource company to be called Peregrine Resources Ltd. The boards of Diamonds and Metals are in the process of forming special committees for the purpose of negotiating a mutually acceptable share exchange ratio and making recommendations to their respective boards. Mr. Boyd will be appointed Chairman of the Diamonds special committee and Ms. Gosselin will be a member of the Metals special committee.

Forward-Looking Statements: This document includes forward-looking statements. Forward-looking statements include, but are not limited to statements concerning Peregrine's projects and other statements that are not historical facts. When used in this document, the words such as "could", "commonly", "confident", "plan", "encouraging", "estimate", "expect", "anticipated", "intend", "imply", "likely", "may", "potential", "should", "scheduled", "significant", "suggest", and similar expressions are forward-looking statements. Although Peregrine Diamonds Ltd. believes that its expectations reflected in these forward-looking statements are reasonable, such statements involve risk and uncertainties and no assurance can be given that actual results will be consistent with these forward-looking statements. Important factors that could cause actual results to differ from these forward-looking statements are disclosed in the corporation's periodic filings with Canadian regulators.

Contact Information

  • Peregrine Diamonds Ltd. and Peregrine Metals Ltd.
    Mr. Eric Friedland
    President and CEO of Metals and CEO of Diamonds
    (604) 669-8800
    Peregrine Diamonds Ltd. and Peregrine Metals Ltd.
    Brooke Clements
    President of Diamonds and Senior Vice President of Metals
    (604) 408-8880