AMI.L Regulatory News (AMI)

20 Dec 2005 07:00

Sierra Leone Diamond Company Ld20 December 2005 For immediate release 20th December 2005 Sierra Leone Diamond Company Limited ("SLDC" or the "Company") Exploration Licence Update Sierra Leone Diamond Company (AIM : SLD), the diamond exploration company withlicence interests wholly focussed in the country of Sierra Leone, is pleased toreport on the progress being made on its exploration licences in Sierra Leone. The Company has been granted three further exclusive prospecting licences, fordiamonds, gold and other minerals, covering approximately 693 square kilometresin the North Sula, Tonkolili District and Jombohun areas and also, an exploration licence covering 54 square kilometres in the Baoma district ofSierra Leone. Furthermore, the Company has been informed by General Investigations andDevelopment Company Limited, our joint venture partner, that the Company'sinterest in EPL 3/96, in the Kamakwie area, has increased from thirty to fiftyfive percent. The Company must before 31 October 2006 expend not less than US$400,000 on ground follow-up testing, sampling and drilling and pay GIDC US$100,000 to acquire a further twenty five percent interest in this licence. David Gadd-Claxton, Chief Executive Officer commented: "This is excellent progress for the Company, we have secured further groundaround our iron assets in Tonkolili, extended the area around our alluvialdeposits on the Sewa River and earned in another twenty five percent into our joint venture in the Kamakwie area. In early 2006 the Company will issue anoperational update giving further news of the Company's plans in these areas." For further information, please contact: Sierra Leone Diamond Company David Gadd-Claxton, Chief Executive Officer 01442 257246Martin Dunham, Chief Financial Officer Buchanan Communications 020 7466 5000Bobby MorseBen Willey This information is provided by RNS The company news service from the London Stock Exchange