Pangolin Diamonds Corp.
TSX VENTURE : PAN

Pangolin Diamonds Corp.

July 15, 2015 09:11 ET

Pangolin Receives Positive Kimberlite Indicator Analyses for Malatswae Diamond Project, Botswana

- Laboratory reports an abundance of positive kimberlitic ilmenites from soil samples

- Kimberlitic ilmenites from the Malatswae Diamond Project are distinctly different to ilmenites from the Orapa AK1 Diamond Mine confirming separate source area

- Clinopyroxenes of both eclogitic and peridotitic paragenesis from the earth's mantle present in samples

- Primary surface textures on numerous indicator minerals and clinopyroxenes indicative of proximal source

- Close geographical association between anomalously positive samples and previous selected high priority aeromagnetic targets currently being followed up with detailed ground surveys and additional soil sampling

TORONTO, ONTARIO--(Marketwired - July 15, 2015) - Pangolin Diamonds Corp. (TSX VENTURE:PAN) (the "Company" or "Pangolin") is pleased to announce it has received positive kimberlite indicator mineral analyses for the Company's wholly-owned Malatswae Diamond Project ("Malatswae"), located 90 km southeast of the world class Orapa Diamond Mine in Botswana.

Pangolin has recently submitted potential kimberlite indicator minerals from regional (1km x 1km) soil samples collected within Malatswae to the mineral laboratory of C.F. Research Ltd., Kelowna for microprobe analysis (refer to the Company news release dated June 30, 2015, www.pangolindiamonds.com). C.F. Mineral Research Ltd. is ISO 9001 Certified and all processes within are ISO 17025 Compliant.

The majority of the minerals analysed are picro-ilmenites confirming a kimberlite provenance. A comparison of the MgO-Cr2O3, MgO-Fe2O3 (calc) and MgO-Al2O3 compositional relationships of the Malatswae ilmenites to the ilmenites of the Orapa AK1 Diamond Mine (Shee, 1978; Tollo, 1982) confirm separate sources for the ilmenites.

Clinopyroxenes, garnets, forsteritic olivine and phlogopite have also been confirmed. The clinopryoxenes and garnets are from both the peridotitic and eclogitic paragenesis from within the upper mantle region of the earth. These samples are geographically distinct from the samples from which four (4) diamonds were discovered within the project area as previously announced.

The presence of anomalous counts of picro-ilmenites together with garnet and/or clinopyroxene within a single sample have been recorded in close proximity to aeromagnetic targets selected for detailed groundmagnetic and soil sampling follow-up programmes (refer to the Company news release dated June 30, 2015). In addition to ilmenite, pyrope garnet and chrome diopside grains were also recovered. The remnants of fragile reaction rims on many of the indicators, ilmenite grains have adhering material that appears to be altered kimberlite and the presence of clinopyroxenes in the samples are consistent with a proximal source to individual samples. The geographic distribution of the anomalously positive soil samples indicate several individual sources for the indicator minerals.

A programme consisting of detailed groundmagnetic surveys and detailed soil sampling grids to follow up these analytical results, in conjunction with the previous selection of priority aeromagnetic targets, is underway.

To view Figure 1 please click on the following link: http://media3.marketwire.com/docs/PAN0715.pdf

Shee, S.R. The mineral chemistry of xenoliths from the Orapa kimberlite pipe, Botswana, MSc Thesis, University of Cape Town.

Tollo, R.P. (1982) Petrography and mineral chemistry of ultramafic and related inclusions from the Orapa A/K-1 kimberlite pipe, Botswana. MSc Thesis, University of Massachusetts.

The technical disclosure in this news release has been reviewed and approved by Dr. Leon Daniels, Ph.D., Member of AIG, President and CEO of Pangolin Diamonds and is a Qualified Person as defined by National Instrument 43-101.

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