Peregrine Diamonds Ltd.

Peregrine Diamonds Ltd.

June 06, 2007 08:30 ET

Peregrine Diamonds Ltd.: Final Total of 2,651 Tonnes of Kimberlite Recovered During 2007 Bulk Sample Program at DO-27

VANCOUVER, BRITISH COLUMBIA--(Marketwire - June 6, 2007) - Peregrine Diamonds Ltd. (TSX:PGD) ("Peregrine") announces the successful completion of the 2007 bulk sample drilling program on the plus nine hectare DO-27 kimberlite, WO Diamond Project, NT, Canada, with the extraction of a total of 2,651 wet tonnes of kimberlite. This compares with 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 was primarily due to careful logistical planning and management by Peregrine's operations team, the addition of a third large diameter reverse circulation ("LDRC") drill rig, the incorporation of various drilling tools and techniques learned from previous bulk sampling programs, and longer periods of cold weather as compared to last year.

Since December 6, 2006, 28 LDRC drill holes, totalling 5,639 metres, and 12 core holes, totalling 2,382 metres, were completed. A total of 1,701 bags of kimberlite have been filled, security sealed and sent to BHP Billiton's Ekati™ Diamond Mine for diamond recovery at their sample processing facility. Processing is currently underway, with completion scheduled for late August, 2007.

Following completion of this year's bulk sample, two of the three LDRC rigs were demobilized to Ekati™ and from there they will be sent to Yellowknife, while the third rig has been stationed at DO-27, in anticipation of possible additional bulk sampling work next winter. Site maintenance activities are continuing at DO-27, while exploration activities, including delineation core drilling, are scheduled to resume in July, 2007 after the spring thaw.

Work has also been continuing on the internal AMEC Preliminary Technical Assessment of DO-27 (see January 23, 2007 press release), with the final report expected by the end of July, 2007. This report will begin to investigate the potential of concentrating and upgrading the kimberlite by way of scrubbing and washing, prior to diamond recovery processing.

Peregrine would like to take this opportunity to acknowledge the extraordinary effort this year from a number of contractors such as Encore Coring & Drilling Inc., Cooper Drilling LLC., Foraco Drilling Ltd. (formerly Connors Drilling Ltd.), Nuna Logistics Ltd., and Discovery Mining Services Ltd. In addition, the bulk sampling program was properly re-supplied throughout the entire winter season through the efforts of numerous air freight carriers such as Air Tindi, Arctic Sun West Charters, First Air, Great Slave Helicopters Ltd., and Summit Air Charters, and land freight carriers ARS Trucking and Welding Ltd. and CDI International Inc.

Large diameter bulk sample drilling on lake ice in Canada's North is some of the most difficult and challenging exploration in the mining industry. The contractors involved at DO-27 were not only instrumental in achieving the large tonnage of kimberlite extracted, but also are now among the most experienced operators and support personnel for this type of bulk sampling method in Canada.

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.

Contact Information