Peregrine Diamonds Ltd.

Peregrine Diamonds Ltd.

April 18, 2007 08:31 ET

Peregrine Diamonds Ltd.: Approximately 2,260 Tonnes of Kimberlite Recovered to Date in 2007 Bulk Sample Program at DO-27; Colder Weather Allowing Bulk Sampling to Continue

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - April 18, 2007) - Eric Friedland, President of Peregrine Diamonds Ltd. (TSX:PGD) ("Peregrine"), is pleased to announce that, to date, approximately 2,260 wet tonnes of kimberlite have been extracted from the plus nine hectare DO-27 kimberlite, WO Diamond Project, NT, Canada, via large diameter RC ("LDRC") drilling during the 2007 bulk sample program, which is still on-going. This compares to a total of 566 wet tonnes recovered during the 2006 program and a total of 168 wet tonnes from the 2005 program.

The significant increase in kimberlite recovery this year has been the result of: careful logistical planning and management by Peregrine's operations team headed by Wendy Mathison, VP-Operations; the addition of a third LDRC drill rig; the incorporation of various drilling techniques learned from the previous bulk sampling programs; and, the continuing colder temperatures in Canada's far north as compared to last year.

On ice LDRC bulk sample drilling will continue as long as cold weather and lake ice competency allow.

Since December 6, 2006, 25 LDRC holes totalling 4,849 meters, and 9 core holes totalling 2,094 meters, have been completed to date. A total of 1,505 bags of kimberlite have been filled, security sealed and sent to BHP Billiton's Ekati™ Diamond Mine for storage and processing at their sample processing facility (see photos at under Photo Gallery section).

As the LDRC rig primarily responsible for setting casing (rig 440) has completed all the casing sets, it has been demobilized to Ekati™ for further transportation to Yellowknife via Hercules aircraft. A second LDRC rig will be driven to Ekati™ prior to the closure of the ice road from DO-27 to Ekati™. The third LDRC rig is currently scheduled to remain on-site at DO-27.

More detailed information regarding the 2007 bulk sample program including the final tonnage of kimberlite recovered, the timing for the kimberlite processing at Ekati™, and the core drilling plans for this summer and fall, will be released next month.

Jennifer Pell, Ph.D., P.Geo., Chief Geoscientist for Peregrine Diamonds Ltd., is the Qualified Person under NI 43-101, for the WO Diamond Project.

Peregrine is a well-funded Canadian diamond exploration/development company that is managed by experienced geoscientists. In addition to completing a third bulk sampling program on its WO Diamond Project, NT, Peregrine is also exploring for other diamondiferous kimberlites on its extensive land holdings in Canada. The Corporation trades on the Toronto Stock Exchange under the symbol "PGD".

Forward-Looking Statements: This document includes forward-looking statements. Forward-looking statements include, but are not limited to statements concerning Peregrine's projects, pre-feasibility studies, and other statements that are not historical facts. When used in this document, the words such as "could", "confident", "plan", "estimate", "expect", "anticipated", "intend", "likely", "may", "potential", "should", "scheduled", "significant", and similar expressions are forward-looking statements. Although Peregrine Diamonds Ltd. believes that its expectations reflected in these forward-looking statements are reasonable, such statements involve risk and uncertainties and no assurance can be given that actual results will be consistent with these forward-looking statements. Important factors that could cause actual results to differ from these forward-looking statements are disclosed in the corporation's periodic filings with Canadian regulators.

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