Vaaldiam Resources Ltd.

Vaaldiam Resources Ltd.

May 08, 2008 09:57 ET

Vaaldiam Resources Ltd.: Katya Masun Appointed Senior Resource Geologist

TORONTO, ONTARIO--(Marketwire - May 8, 2008) - Vaaldiam Resources Ltd.(TSX:VAA) is pleased to announce that Ms. Katya Masun has been appointed to the position of Senior Resource Geologist. Ms. Masun holds an Honours B.Sc. and M.Sc. (Geology) from Lakehead University in Thunder Bay Ontario, having studied kimberlite petrology under Professor Roger Mitchell.

Ms. Masun has more than 13 years of well-rounded experience in kimberlite diamond exploration, having begun her career with Rio Tinto in Thunder Bay, Ontario. Ms. Masun has spent the last six and a half years as a Project Geologist based in Vancouver. While with Rio Tinto, she worked on major kimberlite diamond exploration projects in Canada, Brazil and India and has authored several technical papers on these activities.

For Vaaldiam Ms. Masun will utilize her diamond exploration experience and in particular her knowledge of kimberlite petrology to interpret the geology and direct exploration strategies on the Company's kimberlite projects, as well as to prepare resource calculations and economic studies.

Ken Johnson, President and Chief Executive Officer of Vaaldiam states that "we are extremely pleased to welcome Katya to our exploration and development team here at Vaaldiam. Katya's strong background in diamond geology, coupled with her international experience gained through her employment with Rio Tinto, will significantly strengthen our in-house capabilities. Specifically, Katya's extensive experience in the field of kimberlite exploration will help to significantly advance the feasibility study currently underway on our advanced stage Brauna kimberlite project in Brazil, where we hope to develop South America's first diamond mine from a kimberlite source. In addition to the Brauna project, Katya's expertise will also be directed at the Catalao, Pimenta Bueno, Ariquemes and Candle Lake kimberlite projects."

About Vaaldiam Resources

With two debt-free alluvial mines in production in Brazil, Vaaldiam is South America's largest diamond producer. Vaaldiam is currently advancing its Brauna kimberlite project towards a feasibility study to be completed later this year, following completion of the 5,000 tonne bulk sampling program currently underway with the construction of a new diamond recovery plant. Vaaldiam is also developing the 250,000 hectare Pimenta Bueno kimberlite property in the State of Rondonia, and the Catalao kimberlite property in the State of Goias, Brazil. Vaaldiam's strategy is to use any cash flow generated from its alluvial mines to directly fund the exploration and development of its Brazilian kimberlite properties. In addition to its diamond projects in Brazil, Vaaldiam is currently completing a drilling and mini-bulk sampling program on its 100% owned Candle Lake kimberlite project in the Fort a la Corne diamond district in the Province of Saskatchewan, Canada.

This release has been reviewed by Jose Ricardo Pisani, Vice President, Exploration who is a qualified person under National Instrument 43-101.

This press release contains certain forward-looking statements. In certain cases, forward-looking statements can be identified by the use of words such as "plans", "expects" or "does not anticipate", or "believes", or variations of such words and phrases or statements that certain actions, events or results "may", "could", "would", "might" or "will be taken", "occur" or "be achieved". Forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. Such factors include, among others, risks related to international operations; risks related to joint venture operations; actual results of current exploration activities; changes in project parameters as plans continue to be refined, future prices of resources; possible variations in reserves, grade or recovery rates, accidents, labour disputes and other risks of the mining industry; and delays in obtaining governmental approvals or financing or in the completion of development or construction activities. Although the Company has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking statements, there may be other factors that cause actions, events or results to differ from those anticipated, estimated or intended. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements.

Contact Information

  • Vaaldiam Resources Ltd.
    Ken Johnson
    President & Chief Executive Officer
    (416) 363-6927
    Vaaldiam Resources Ltd.
    Janet Reid
    Manager, Investor Relations
    (416) 363-6927