Superior Diamonds Inc.

Superior Diamonds Inc.

September 20, 2007 17:18 ET

Superior Reports Diamond Potential Evaluation on the Morin Kimberlite and Ville Marie Region in Quebec

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Sept. 20, 2007) - Superior Diamonds Inc. (TSX VENTURE:SUP) ("Superior" or "the Company") has received the caustic fusion, kimberlite indicator mineral (KIM) geochemical and petrographic results for the Morin kimberlite in the Ville Marie area of Quebec. One yellow, transparent microdiamond was recovered from 6.92 kilograms of material. KIM geochemistry and petrographic analysis suggest that an economic deposit of diamonds is not likely associated with this pipe.

Notwithstanding the above analysis, Mineral Services Canada Inc., the laboratory that performed the testing, reports that the area around the Morin occurrence remains of interest in terms of regional prospectivity and the potential for discovery of diamond bearing kimberlite sources. This is based on an interpretation of the Cr-diopside mineral composition data which suggests that the mantle beneath the Morin kimberlite at the time of eruption and sampling was equilibrated on a relatively low geotherm that is consistent with what is observed on other diamond-bearing cratons worldwide.

Furthermore, Mineral Services Canada reports that the ilmenites recovered and analysed from two representative samples of the kimberlite have compositions that are consistent with the derivation from a reducing magma source, which is favorable for diamond preservation and/or growth in the event that the pipe has sampled diamond-bearing mantle. Although pipe specific, these findings are encouraging in that kimberlites elsewhere in the Ville Marie area may originate from similar reducing magma sources.

Dr. Thomas Morris, President and CEO of Superior states: "Although we are disappointed at the caustic fusion results of the Morin kimberlite, we are pleased with the conclusions drawn from the geochemistry of KIMs recovered from the Morin kimberlite. This reinforces Superior's interpretation of the geochemistry of kimberlite indicator minerals recovered from overburden samples and kimberlite boulders, namely that Ville Marie is an excellent area to explore for economic diamond-bearing kimberlite."

As previously reported, Superior intends to evaluate the diamond potential of its Lac Honorat kimberlite (discovered in July 2007) once freeze-up has occurred. In addition, overburden sampling has already been completed as the first step in defining the heads of several KIM dispersal trains recognized on Superior's mineral properties in the Ville Marie area. A reverse circulation drill program is being planned in the late fall for those dispersal trains associated with thicker overburden. Geochemistry will be determined from selected KIMs isolated from samples collected in these programs. Ground gravity will be completed over the heads of those dispersal trains with the best KIM geochemistry. This information will help direct a diamond drill program for 2008.

Dr. Morris further states: "We feel this is the most expedient and financially responsible way to maximize our potential for discovery of an economic diamond-bearing kimberlite in the Ville Marie area."

About Superior Diamonds

Superior Diamonds Inc. is a junior exploration company whose focus is exploring for diamonds on the Canadian Shield and for uranium within the Thelon Basin. Superior is also advancing gold and base metal properties acquired as a by-product from its diamond exploration programs. 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.
    Thomas F. Morris
    President and CEO
    (705) 525-0992
    (705) 525-7701 (FAX)
    Superior Diamonds Inc.
    Meghan Brown
    Manager, Investor Relations
    (604) 685-4644
    (604) 688-5175 (FAX)