VIPR Industries Inc.
PINK SHEETS : VIPR

VIPR Industries Inc.

March 04, 2009 16:52 ET

VIPR Industries Announces Trenching Results to the Mwamunguli Diamond Deposit: Independent Report Indicates a Potentially Conservative Resource Estimate of $30 Million in Diamonds

LAS VEGAS, NEVADA--(Marketwire - March 4, 2009) - VIPR Industries Inc. ("VIPR") (PINK SHEETS:VIPR) announces positive and very encouraging pitting and trenching results from its Mwamunguli Diamond Prospect.

As previously disclosed, the Company presently has a purchased interest in the property with a larger purchase option available. Located in the Shinyanga region of Tanzania, it is recognized as one of the world's largest diamond producing areas. The Mwamunguli Diamond Deposit consists of ten primary mining licenses situated south of the Williamson Mine, one of Africa's most significant diamond producers.

The recent pitting and trenching operation processed 725 tons of kimberlite gravel ore, which recovered 29 stones with a yield of 49 carats of diamonds. Based on the thickness of the kimberlite pool, Geologist (Javan E. Bidogo) estimates a minimum resource of 100,000 carats of diamonds at a value of over $30 Million Dollars making it a very potentially lucrative asset. The report, created by JICL Consultants, provides a conservative estimation on the potential of the deposit. JICL Consultants is an independent geological company with offices in Tanzania that has created reports for several international mining companies. Below is a snapshot of the report:



Total area = 30Ha = 300,000 m2
Average gravel thickness = 2.3m
Average diamond grade = 6.8 Cpht
Density of gravel material = 2.14 tfm3
Value of diamond in US$/carat = 300US$/carat
Volume of gravel = 300,000 m2 X 2.3m = 690,000 m3
Tones = 690,000 m3 X 2.14 tfm3= 1,476,600 tonnes
Total carats = 1,476,600 tonnes X 6.8 Cpht = 100,408.8 carats
Anticipated minimum income in US$ = 100,408.8 carats X US$300 = US$
30,122,640.00
(Price per carat based on price as of date of this report)


JC Barbeck, President and CEO of VIPR Industries commented, " While cautioning that the report is only an estimate and that actual results could be materially different, the initial data from the pitting and trenching operation is encouraging, allowing the Company to believe the acqusitioncould represent a significant milestone in the Company's history. Provided the Company is able to raise the necessary funds to retain its full or partial ownership position, the property, in a very short period of time could potentially deliver significant revenues through production for VIPR and its partners."

Safe Harbor

This news release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 (The "Act"). In particular, when used in the preceding discussion, the words "pleased," "plan," "confident that," "believe," "expect," or "intend to," and similar conditional expressions are intended to identify forward looking statements within the meaning of the Act and are subject to the safe harbor created by the Act. Such statements are subject to certain risks and uncertainties and actual results could differ materially from those expressed in any of the forward-looking statements. Such risks and uncertainties include, but are not limited to, general economic conditions, inherent mining risks, market conditions, competitive factors, the ability to successfully complete additional financings and other risks described in the Company's filings and website, which all investors are advised to view at viprindustries.com/motion.asp?menuid=6266&lgid=1&siteid=100382.

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