Pangolin Diamonds Corp.
TSX VENTURE : PAN

Pangolin Diamonds Corp.

April 07, 2015 08:30 ET

Pangolin Receives Additional Prospecting Licences at the Malatswae Diamond Project, Botswana

- Malatswae Project increases in size from 1,058 km2 to 2,480 km2

- Prospecting licences granted for an initial three years

TORONTO, ONTARIO--(Marketwired - April 7, 2015) - Pangolin Diamonds Corp. (TSX VENTURE:PAN) (the "Company" or "Pangolin") is pleased to announce the grant by the Government of Botswana of three additional Prospecting Licences (or "PL") for precious stones (diamonds) at the Company's wholly-owned Malatswae Diamond Project located 90 kilometres southeast of the Orapa Diamond Mine.

The licences are as follows:

Licence Number Square Kilometres Expiry Date Year 1 Financial Commitment
PL083/2015 359 31 March 2018 BWP 50,000 or
approx. $C 6,500
per licence
PL086/2015 412
PL529/2014 651

Work will begin shortly on a historical compilation of geological information, a geophysical interpretation of an existing airborne geophysical survey and a regional (1km x 1km) soil sampling program.

The three new PL's are contiguous to the north, east and south to the original PL100/2011 and PL247/2014 Licences, and link PL063/2011 to the north, now creating a single 2,480 km2 block.

Pangolin's exploration of PL247/2014 has recovered four diamond-positive soil samples as well as numerous kimberlite indicator minerals ("KIM"). Several clusters of the KIM's have features that suggest proximal source rocks such as kimberlites. Two areas; MSC and Modala Grids, are subject to intensified exploration including drilling. A map locating the three new PL's as well as Pangolin's other land holdings are available at the website (http://wp.me/P4A7nq-i, http://wp.me/P4A7nq-9).

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