Pangolin Diamonds Corp.
TSX VENTURE : PAN

Pangolin Diamonds Corp.

June 13, 2016 07:00 ET

Pangolin Identifies Kimberlite Drill Target MG-08 at Motloutse Diamond Project, Botswana

- The MG-08 is an oval shaped target measuring approximately 4 hectares in size and the second kimberlite target confirmed within the project area

- It is a near surface and groundmagnetic anomaly

- Anomalous concentration of positive kimberlite indicator minerals recovered at surface

- The indicator minerals are characterized by surface textures indicative of their source to be close

- Several other targets are being developed over the next few weeks

- The Motloutse drill program is anticipated to be completed before the end of July 2016

- Drilling at the Malatswae Diamond Project is still on schedule for the second half of 2016

TORONTO, ONTARIO--(Marketwired - June 13, 2016) - Pangolin Diamonds Corp. (TSX VENTURE:PAN) (the "Company" or "Pangolin") is pleased to provide an update for the Company's wholly-owned Motloutse Diamond Project ("Motloutse"), located 150 km east of the Orapa Diamond Mine in Botswana. Several aeromagnetic anomalies have been selected for follow-up with soil sampling, ground magnetic and gravity surveys to identify kimberlite drill targets. This process identified MG-08 as the second kimberlite target in addition to AGA-01 previously announced (see May 31, 2016 release). Other targets are still being developed as the data is being processed and interpreted.

The MG-08 kimberlite target is a near surface oval anomaly with a projected 8 - 10 metres of cover. The presence of the target was confirmed using ground magnetic and detailed soil sampling consisting of 225 samples within a grid area measuring 700 metres by 1,400 metres. Sub-angular kimberlite indicator garnets with sculptured surfaces denoting proximity to source were optically identified from soil samples collected directly over the target area.

Additional kimberlite targets are still being developed as the data is being processed and interpreted. Once all the results have been interpreted, the drill program will commence. It is anticipated that the percussion drill program will be completed before the end of July 2016.

The Motloutse Diamond Project covers the area where the first diamonds in Botswana were recovered in 1959. It also includes the location where De Beers discovered its first diamonds in Botswana in 1962. The kimberlite source(s) of these diamonds have never been located.

The indicators were recovered at MG-08 from unscreened 100-litre samples collected on a 50 m x 100 m square grid within a 10 square metre area of a GPS-controlled sample site. The material was dry screened in the field to recover the +0.425-2.0 millimetre size fraction, then transported to Francistown, Botswana and processed through Pangolin's 1-tph DMS plant. The concentrates were subsequently delivered to an independent mineral specialist in who examined the concentrate and recovered the indicators.

The indicators will be delivered to MCC Geoscience Inc. (Vancouver, B.C.) for additional interpretation of surface features and thereafter delivered to C.F. Mineral Research (Kelowna, B.C.) for microprobe analysis.

Malatswae Diamond Project Update

The Company's wholly-owned Malatswae Diamond Project ("Malatswae"), where 13 diamonds have been recovered at surface, and located 105 km southeast of the Karowe Diamond Mine of Lucara Diamonds in Botswana is being remodelled for kimberlite drill targets. It is still on schedule to be drilled in the second half of 2016.

Quality Control and Quality Assurances

Quality assurance procedures, security, transport, storage, and processing protocols conform to chain of custody requirements.

The technical disclosure in this news release has been reviewed and approved by Dr. Leon Daniels, BSc., BSc. Honours Geology, PhD and a Qualified Person as defined by National Instrument 43-101.

About Pangolin Diamonds Corp. and Our Social Connections

For more information on Pangolin Diamonds Corp., please visit our website at www.pangolindiamonds.com.

Follow us on Twitter @pangolindiamond and Facebook at Pangolin Diamonds Corp.

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

Contact Information