Peregrine Diamonds Ltd.

TSX : PGD


Peregrine Diamonds Ltd.

March 13, 2014 19:18 ET

Peregrine Announces Board Election Voting Results

VANCOUVER, BRITISH COLUMBIA--(Marketwired - March 13, 2014) - Peregrine Diamonds Ltd. ("Peregrine" or "the Company") (TSX:PGD) reports that at the Company's annual general meeting of shareholders held on March 13, 2014, the members of the Board of Directors were all re-elected by show of hands. The following is a tabulation of the votes submitted by proxy:

Director Nominees Votes in Favour Votes Withheld
Robert Boyd 36,316,557 (97.30%) 1,005,941 (2.70%)
Alan Carter 36,514,157 (97.83%) 808,341 (2.17%)
Richard Cohen 36,510,382 (97.82%) 812,116 (2.18%)
Eric Friedland 37,190,324 (99.65%) 132,174 (0.35%)
Myron Goldstein 36,509,982 (97.82%) 812,516 (2.18%)
Gordon Keep 36,948,791 (99.00%) 373,707 (1.00%)
Peter Meredith 36,510,591 (97.82%) 811,907 (2.18%)

ABOUT PEREGRINE DIAMONDS

Peregrine is a diamond exploration and development company focused on Canada's North. The Company has discovered two new diamond districts in Nunavut, Nanuq in 2007 and Chidliak in 2008. At its 100 percent-owned Chidliak project, located 120 kilometres from Iqaluit, the capital of Nunavut, 67 kimberlites have been discovered to date with nine being potentially economic. In April 2013, Peregrine collected a bulk sample weighing 404 dry tonnes from the CH-6 kimberlite. The 404 tonne sample returned a grade of 2.58 carats per tonne for diamonds larger than the 1.18 mm sieve size. An independent diamond valuation of the resulting 1,013 carat parcel of diamonds returned an average market price of US$213 per carat and modelled prices that ranged from a minimum of US$162 per carat to a high of US$236 per carat with a base model price of US$188 per carat. Planning is now underway for an important 2015 resource definition programs that will be designed to advance Chidliak to the feasibility stage.

At its 72 percent-owned, nine hectare DO-27 kimberlite in the Northwest Territories, located 27 kilometres from the Diavik Diamond Mine, a NI 43-101 compliant mineral resource of 18.2 million carats of diamonds in 19.5 million tonnes of kimberlite at a grade of 0.94 carats per tonne, which is open at depth, was confirmed in 2008. Peregrine also continues to evaluate earlier stage diamond exploration projects it controls in Nunavut and the Northwest Territories and through comprehensive evaluation of its extensive and proprietary diamond exploration databases, is working towards discovering additional new diamond districts in North America. A key asset being utilized in Peregrine's search for a new Canadian diamond district is a proprietary database acquired from BHP Billiton that contains data from approximately 38,000 kimberlite indicator mineral samples covering approximately three million square kilometres of Canada.

Contact Information

  • Peregrine Diamonds Ltd.
    Mr. Eric Friedland
    CEO
    604-408-8880

    Peregrine Diamonds Ltd.
    Mr. Brooke Clements
    President
    604-408-8880

    Peregrine Diamonds Ltd.
    Mr. Tom Peregoodoff
    Executive VP, Business Development
    604-408-8880

    Peregrine Diamonds Ltd.
    Investor Relations
    604-408-8880
    investorrelations@pdiam.com
    www.pdiam.com