Petra Diamonds Regulatory News (PDL)

14 May 2007 07:01

Petra Diamonds Ld14 May 2007 Petra Diamonds Limited Alto Cuilo; Bulk Sampling Update Petra Diamonds Limited ("Petra"), the AIM-quoted diamond mining group, announcesan update with regards to the bulk sampling campaign at project Alto Cuilo ("Alto Cuilo") in Angola. Bulk Sampling The initial phase of the large diameter drilling of kimberlite AC63 is completeand the samples have been treated by the dedicated 10 tonne per hour Dense MediaSeparation ("DMS") plant. Results from the AC63 mini bulk drill samples will beannounced as soon as picking of diamonds is complete and the associated datacollated and interpreted. It is expected that the results will be publishedwithin the next two weeks. A mini bulk drill sample was also extracted from kimberlite AC16, which is a lowpriority target in the kimberlite technical ranking. AC16 was used to commissionand test the large diameter drill rig because of ease of access and theproximity of AC16 to logistics support. The results from the AC16 samples willbe published at the same time as those for AC63. BHP Billiton Joint Venture The costs of exploration and associated activities at Alto Cuilo continue to befunded by BHP Billiton in accordance with the Alto Cuilo JV agreement. BHPBilliton's cumulative spend with regards to Alto Cuilo as at 31 April 2007amounted to US$40.33 million. Ends Notes 1. The information in this update that relates to Exploration Results, MineralResources or Ore Reserves is based on information compiled by Jim Davidson, Pr.Sci Nat (reg No 400031/06), who is a Member of the Geological Society of SouthAfrica, a 'Recognised Overseas Professional Organisation' ('ROPO'), included ina list promulgated by the ASX from time to time. Jim Davidson is a full-timeemployee of the Company and has sufficient experience which is relevant to thestyle of mineralisation and type of deposit under consideration and to theactivity which he is undertaking to qualify as a Competent Person as defined inthe 2004 Edition of the 'Australasian Code for Reporting of Exploration Results,Mineral Resources and Ore Reserves'. Jim Davidson has given his written consentto the inclusion in this announcement of the matters based on his information inthe form and context in which it appears. Jim Davidson is the Qualified Personfor the purposes of the AIM Guidance Note on Mining, Oil and Gas Companies datedMarch 2006 2. It should be noted that the potential quantity in this report is conceptualin nature, there has been insufficient exploration to define a Mineral Resourceand it is uncertain if further exploration will result in the determination of aMineral Resource. For further information, please contact: Parkgreen Communications, London Cathy Malins / Annabel Leather Tel +44 20 7851 7480 This information is provided by RNS The company news service from the London Stock Exchange