Premier Diamond Corp.
NEX BOARD : PDC.H

March 30, 2007 14:32 ET

Premier Diamond Corp. Announces May 7, 2007 Shareholders' Meeting and Sponsor Agreement

CALGARY, ALBERTA--(CCNMatthews - March 30, 2007) - Premier Diamond Corp. ("Premier") (NEX:PDC.H) announces that an annual general and special meeting of shareholders of Premier will be held in Calgary, Alberta on May 7, 2007 (the "Meeting"). Among other things, at the Meeting the shareholders will be asked to consider, and if thought appropriate, approve the acquisition (the "Proposed Transaction") by Premier of all of the outstanding securities of Mexican Silver Mines (Guernsey) Limited ("Mexican Silver"). Please refer to Premier's news release of March 26, 2007 for additional information regarding Mexican Silver and the Proposed Transaction. In addition, an information circular prepared by management of Premier that contains a complete description of the Proposed Transaction and the other matters to be brought before the shareholders at the Meeting will be provided to the shareholders and will also be available on SEDAR at www.sedar.com.

Premier has entered into a sponsor agreement with Blackmont Capital Inc. and Mexican Silver pursuant to which Blackmont Capital Inc. has agreed, subject to completion of satisfactory due diligence, to act as sponsor with respect to the Proposed Transaction pursuant to the Policies of the TSX Venture Exchange. An agreement to act as sponsor should not be construed as any assurance with respect to the merits of the Proposed Transaction or the likelihood of completion.

The common shares of Premier will remain halted until such time as permission to trade has been obtained from the TSX Venture Exchange and NEX and submission of required documentation with respect to the Proposed Transaction to the TSX Venture Exchange.

ON BEHALF OF THE BOARD OF PREMIER DIAMOND CORP.

Feisal Somji, B.Sc., MBA, President

The TSX Venture Exchange and NEX have in no way passed upon the merits of the Proposed Transaction and have neither approved nor disapproved the contents of this press release. The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release.

Contact Information

  • Premier Diamond Corp.
    Feisal Somji
    President
    (403) 236-5089
    (403) 398-0693 (FAX)