FDI.L Regulatory News (FDI)

13 May 2005 14:01

Firestone Diamonds PLC13 May 2005 Firestone Diamonds plc Senior Executive Appointment LONDON: 13 May 2005 - The Board of Firestone Diamonds plc, ("the Company"), theAIM-quoted diamond mining and exploration company, is pleased to announce theappointment of Mr. Tim Wilkes as Director Resource Development for the FirestoneDiamonds group. Mr. Wilkes joins Firestone from De Beers, where he was General Manager MineralResource Management, with responsibility for the management of De Beers' mineralresource portfolio worldwide, and was the Competent Person responsible for theevaluation, classification and reporting of the company's mineral resources andreserves. Mr. Wilkes brings over twenty four years' experience in the diamond industry,including twenty years with De Beers. He has worked extensively on kimberliteand alluvial diamond exploration, evaluation and mining projects worldwide,including four years at the Orapa Mine in Botswana, and six years on the westcoast of South Africa and Namibia. He is Chairman of the sub-committee fordiamonds of the South African Mineral Resource Committee (SAMREC), which isresponsible for the publication of the SAMREC Code. The SAMREC Code sets outstandards for reporting of exploration results, mineral resources and mineralreserves in South Africa. In his new position, Mr. Wilkes will be responsible for leading the developmentof Firestone's mineral resource portfolio. His primary focus will initially beon the Company's strategic projects, as follows: • the Mopipi and Orapa projects in Botswana, which are being explored injoint venture with De Beers, and where a number of kimberlites have beenrecently discovered and are in the process of being evaluated • the Jwaneng project in Botswana, which is also being explored in jointventure with De Beers • the Company's other new exploration projects in the Orapa and Jwanengareas • the Groen River Valley project in Namaqualand Mr. Wilkes will also be responsible for the identification and evaluation ofpotential new projects for the Company in Southern Africa and elsewhere. Mr.Wilkes will report to Philip Kenny, Chief Executive Officer, and will join thegroup's Executive Committee. Commenting on today's announcement, Philip Kenny, CEO of Firestone Diamonds,said: "We are delighted that Tim has decided to join Firestone. He is one ofthe leading professionals in his field, and the extensive experience and skillsthat he brings to our senior management team will be a great asset to theCompany in developing and expanding the Company's project portfolio." For further information: Philip Kenny, Firestone Diamonds +44 20 7370 6452 / +44 7831 324 645Leesa Peters, Conduit PR +44 20 7618 8760 / +44 7812 159 885Jamie Cumming, Bell Lawrie White +44 141 314 8103 / +44 77 6804 4620 Website: www.firestonediamonds.com Background information: Firestone Diamonds plc is an international diamond mining and explorationcompany with operations in the Namaqualand region of South Africa, Botswana andthe United States. Firestone has extensive interests in Botswana, which is the world's largestproducer of diamonds, with annual production of over 30 million carats worthover $2.5 billion. Botswana is considered to be one of the best countries inthe world to explore for kimberlite - the primary source rock for diamonds.Firestone's Mopipi, Orapa and Jwaneng projects are located close to the majorOrapa and Jwaneng mines and are all being explored by De Beers in joint venturewith Firestone. Firestone is also exploring for kimberlite in the US on theLaurentia craton, which extends into Canada, where it hosts the Ekati and Diavikdiamond mines. Namaqualand, which is located on the west coast of South Africa, has been one ofthe world's largest alluvial diamond producing regions for the past 60 years,with total production to date estimated to be worth more than $3 billion.Firestone's mining operations in Namaqualand include the Bonte Koe, Avontuur andOena Mines, all of which produce high quality alluvial diamonds, and a growingportfolio of early stage and advanced exploration projects, of which the GroenRiver Valley project is the most important. Firestone has a highly qualified management team with extensive experience inthe financing and development of diamond and other natural resource projects.Firestone is quoted on the Alternative Investment Market (AIM) of the LondonStock Exchange and trades under the symbol FDI.L. This information is provided by RNS The company news service from the London Stock Exchange