Peregrine Diamonds Ltd.

Peregrine Diamonds Ltd.

November 23, 2007 12:30 ET

Peregrine Diamonds Ltd. Announces $3.0 Million Private Placement

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Nov. 23, 2007) - Peregrine Diamonds Ltd. (TSX:PGD) (the "Corporation", the "Company") today announced that it intends to proceed with a non-brokered private placement of common shares for gross proceeds of $3.0 million. A total of 2,000,000 common shares at a price of $1.50 per share will be sold under the private placement on a "flow-through" basis pursuant to the Income Tax Act (Canada).

A finder's fee of 5% in cash will be paid on a portion of the private placement. Proceeds from the private placement will be used for the Corporation's mineral exploration projects in Canada.

Peregrine is a Canadian diamond exploration/development company that is managed by experienced geoscientists. The Company completed a third bulk sampling program on its WO Diamond Project, NT, has announced the discovery of three new diamondiferous kimberlite pipes on its wholly owned Nanuq property in Nunavut, and is exploring for other diamondiferous kimberlites on its extensive land holdings in Canada. The Company trades on the Toronto Stock Exchange under the symbol "PGD".

Contact Information

  • Peregrine Diamonds Ltd.
    Jim Crawford
    Manager - Investor Relations
    (604) 408-8880
    (604) 408-8881 (FAX)