Diamond Fields Reports Update on Delay in Filing 3rd Quarter Financial Statements

Diamond Fields International Ltd.

is making every effort to

complete and file its interim financial statements for third quarter of 2006 on

Tuesday, May 23, 2006. As reported in its news in Stockwatch on May 18, 2006, the

delay is due to logistical and systems problems encountered during the

relocation of its head office from Vancouver to Cape Town, South Africa. The

British Columbia Securities Commission has advised the company that a cease

trade order may be issued before the close of business (Pacific Standard Time) on Tuesday,

May 23, 2006, in the event that the financial statements are not filed before

11:30 a.m. (Pacific Standard Time) on that date.

Diamond Fields International and Moydow Mines International Inc.

announced in press releases dated March 1,

2006 (in Stockwatch), that they had reached an agreement effective Feb. 28, 2006, pursuant

to which Moydow securityholders will exchange their Moydow securities for

securities of Diamond Fields. The acquisition remains

subject to various conditions, as previously announced. Moydow, like Diamond

Fields, is engaged in mineral exploration and development around the world.

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