Vaaldiam Resources Ltd.

Vaaldiam Resources Ltd.

August 04, 2005 09:42 ET

Vaaldiam Resources Ltd.: Sampling Program Completed on Hotish Diamond Property

TORONTO, ONTARIO--(CCNMatthews - Aug. 4, 2005) - Vaaldiam Resources Ltd. (TSX VENTURE:VAA) has completed an indicator mineral sampling program on its Hotish property, situated in the Otish Mountain diamond district of northern Quebec. The sampling program focused on an area where kimberlite dykes and boulders, along with several high interest indicator mineral anomalies, were discovered by Dios Exploration Inc. during an exploration program in 2004. Vaaldiam's exploration program involved the systematic collection of 150 glacial till samples, to try to define the source of the indicator mineral anomalies. The results from this survey are expected by mid September.

Vaaldiam has the right to earn a 51% interest in the Hotish property through an agreement with Dios Exploration Inc. In order to earn the interest in the Hotish Property, Vaaldiam must spend $2,000,000 on exploration by April 2008, and issue a total of 100,000 common shares during the same period.

This release has been reviewed by Jose Ricardo Pisani, Vaaldiam's Senior Geologist, who is a qualified person under National Instrument 43-101.

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

Contact Information

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