Superior Diamonds Inc.

Superior Diamonds Inc.

June 07, 2007 08:02 ET

Superior Completes Third Hole Through Morin Kimberlite and Continues Diamond Exploration in the Lac Honorat Area, Ville Marie Area, Quebec

VANCOUVER, BRITISH COLUMBIA--(Marketwire - June 7, 2007) - Superior Diamonds Inc. (TSX VENTURE:SUP) ("Superior" or the "Company") has completed drilling its third hole through the Morin kimberlite pipe. The purpose of this hole is to provide a south to north cross section through the upper part of the pipe. The hole was collared 50 metres from the southern edge of the pipe and drilled at a 50 degree angle north. The drilling was terminated at 264 metres due to badly fractured kimberlite located near the northern edge of the pipe. This hole follows the completion of two vertical holes: the first collared 50 metres from the eastern side of the pipe and cutting through 500 metres of crater facies material(1) and the second collared 50 metres from the western side of the pipe and cutting through 141 metres of crater facies material(2).

Logging of the kimberlite material recovered from the first two vertical holes has been completed by Mineral Services Canada Inc. Thirty-three representative samples have been submitted for micro-diamond analysis to SGS Lakefield Research Limited. Additional samples have been collected for petrographic and heavy mineral analysis.

Geophysical orientation surveys completed over the Morin kimberlite pipe(3) have identified geophysical methods and surveys useful in defining kimberlite in the Ville Marie area. As such, ground magnetic surveys are being completed at the heads of the Lac Honorat and Lac D'Argent dispersal trains. Results from these surveys are expected to define kimberlite targets that will better direct Superior's drilling program.

Diamond exploration at the head of the Lac Honorat kimberlite dispersal train continues with grid drilling and ground magnetics. Grid drilling is now focused on the north side of the Laverlochere River after a kimberlite boulder was intersected in overburden and a kimberlite stringer intersected in bedrock in two separate holes north of the river.

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 a number of promising target areas through grass roots exploration, and is now focused on prioritizing these targets for drilling. To diversify risk and balance its portfolio, the Company has adopted a strategy to explore for other commodities where it has a proven track record of expertise, including uranium. 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 Company'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.

(1) For details refer to Superior's news release dated May 3, 2007 available on the Company's website.

(2) For details refer to Superior's news release dated May 16, 2007 available on the Company's website.

(3) For details refer to Superior's news release dated May 18, 2007 available on the Company's website.

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

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