Superior Diamonds Inc.

Superior Diamonds Inc.

August 16, 2007 17:46 ET

Superior Appoints Brian R. Booth to Board of Directors

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Aug. 16, 2007) - Superior Diamonds Inc. (TSX VENTURE:SUP) ("Superior" or "the Company") has appointed Brian R. Booth to its Board of Directors, effective immediately.

Mr. Booth is President and CEO of Lake Shore Gold Corp. He is a professional geologist with more than 25 years experience in mineral exploration throughout Canada, Europe and southeast Asia. Mr. Booth began his career as a geologist on the Casa Berardi gold discoveries in Quebec and other gold exploration projects in Quebec and the Maritimes, including underground testing of a gold deposit in Nova Scotia. He is credited with the discovery of the Douay West gold deposit, conducted the preliminary assessment of the Voisey's Bay discovery, and was involved, through a joint venture with Highlands Gold, in the discovery of the Beutong copper porphyry in Sumatra, Indonesia. Prior to joining Lake Shore, Mr. Booth was Manager of Exploration for North America and Europe at Inco Limited. He holds a BSc. in Geology from McGill University and was awarded an honorary lifetime membership in the Indonesian Mining Association for service as Assistant Chairman of the Professional Division.

Alan Moon, Chair of Superior's Board of Directors, said: "Brian is an excellent addition to our Board. His extensive experience in geology combined with his proven track record running another public company will benefit shareholders as we advance our projects toward development decisions and establish a position as a leading diamond and resource exploration company in the Canadian Shield."

Superior's Board of Directors has granted incentive stock options to certain directors of the Company to purchase an aggregate of 500,000 shares of the Company. The options are exercisable during five-year terms at prices ranging from $0.38 to $0.41 per share and were granted pursuant to the Company's 2007 Stock Option Plan, approved by shareholders and accepted by the TSX Venture Exchange, which Plan reserves for issuance up to 10% of the number of outstanding shares of the Company at the date of the grant of options.

About Superior Diamonds

Superior Diamonds is a junior Canadian exploration company, primarily searching for diamonds in the under-explored and highly prospective regions of the Canadian Shield within the provinces of Ontario and Quebec. Superior's highly skilled team has defined four promising target areas through grass roots exploration, and is now focused on two of these areas for diamond drilling. To diversify risk and balance its portfolio, the Company has adopted a strategy to explore for other commodities. The Company is a reporting issuer in British Columbia, Alberta, Ontario and Quebec, and trades on the TSX Venture Exchange under the symbol SUP.

Forward-looking Statements

Statements in this release that are forward-looking statements are subject to various risks and uncertainties concerning the specific factors disclosed under the heading "Risk Factors" in the Corporation's periodic filings with Canadian securities regulators. Such information contained herein represents management's best judgment as of the date hereof based on information currently available. The Company does not assume the obligation to update any forward-looking statements.

The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release.

Contact Information

  • Superior Diamonds Inc.
    Meghan Brown
    Manager, Investor Relations
    (604) 806-0667
    (604) 688-5175 (FAX)
    Superior Diamonds Inc.
    Thomas F. Morris
    President & CEO
    (705) 525-0992
    (705) 525-7701 (FAX)