Pangolin Diamonds Corp.

TSX VENTURE : PAN


Pangolin Diamonds Corp.

December 06, 2013 11:21 ET

Pangolin Diamonds Announces Drilling Results on Geobotanical Anomaly GK6 in Jwaneng South Project, Botswana

- Core samples indicate GK6 is not a kimberlite

- Drilling team commences drilling at a new 20+ Ha. kimberlite target

- More than 20 drill-ready kimberlite targets identified in Jwaneng South, 5 are estimated to be greater than 20 Ha. in size

TORONTO, ONTARIO--(Marketwired - Dec. 6, 2013) - Pangolin Diamonds Corp. (TSX VENTURE:PAN), (the "Company" or "Pangolin") today provides an update on the drilling program at its 100% owned Jwaneng South diamond exploration project in Botswana.

Core drilling at the GK6 geobotanical anomaly has been completed. No kimberlite was intersected. Drilling intersected an igneous intrusion which accounts for the botanical anomaly, the magnetic and gravity profiles as well as the trace element results obtained over the feature. However, it is conclusively not a kimberlite.

The drilling team on the project has been relocated to a different geophysical target within the project area and drilling has commenced. The target currently being drilled is modeled to be in excess of 20 hectares in size.

Dr. Leon Daniels, B.Sc., Ph.D., Chairman of Pangolin, stated, "The result from GK6 is disappointing. However, Pangolin has identified numerous kimberlite targets in Botswana and our exploration in Jwaneng South and our three other Project areas continues with intensity."

About the Jwaneng South Diamond Project

The Jwaneng South Project is located 50 km south of the Jwaneng Mine, the world's richest diamond mine by value. The Jwaneng Mine was discovered in 1972 and is operated by Debswana, a joint-venture company between DeBeers and Botswana. There is well-established infrastructure in the area with a skilled workforce, roads, power and water.

Pangolin has identified more than 20 drill-ready kimberlite targets at its Jwaneng South Project through exploration work completed since 2011. Enzyme-leach trace element results are consistent with orientation trace element results over known diamondiferous kimberlites from the Jwaneng kimberlite field. These results come from an independent analysis of samples by Activation Laboratories Ltd. of Ancaster, Ontario.

The Company cautions that information regarding the Jwaneng Mine is not necessarily indicative of the kimberlite targets being drilled by the Company, and there is no guarantee that the kimberlite targets being drilled by the Company will return diamond results of any economic significance.

The technical disclosure in this news release has been reviewed and approved by Dr. Leon Daniels, Ph.D., Member of AIG, Chairman of the Board of Pangolin, and a Qualified Person under National Instrument 43-101 rules.

About Pangolin Diamonds Corp

Pangolin Diamonds Corp. is building a leading diamond exploration and development company in the heart of Botswana, the world's leading diamond producing country by value. The Company is the 100% owner of Prospecting Licences that encompass the Tsabong North, Jwaneng South, Malatswae and Mmadinare Projects. Pangolin's management and team leaders have over 135 years of combined diamond exploration experience in southern Africa. This makes the Company the most experienced diamond explorer in Botswana other than De Beers Exploration and Debswana. The Company is equipped for exploration, with two diamond drill rigs and a fully portable one-tonne per hour Dense Media Separation Plant used to prepare samples and make diamond concentrates.

Pangolin is well-funded to continue its exploration programs into the next year.

For more information on Pangolin Diamonds Corp, please go to www.pangolindiamondscorp.com.

Neither the TSXV nor its Regulation Services Provider (as that term is defined in the policies of the TSXV) accepts responsibility for the adequacy or accuracy of this release.

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