Survey Ship Begins Work on Diamond Fields’ Atlantis Ii Jv Mining License

Diamond Fields International Ltd.’s marine

research vessel RV Poseidon on the company’s Atlantis II joint

venture concession is conducting a walk-away, sub-bottom profiling (SBP)

survey using the state-of-the-art Abyss 6000 unmanned autonomous

vehicle (UAV). The survey is being conducted pursuant to a

collaborative agreement between DFI and Leibniz Institute of Marine

Sciences at the Christian-Albrechts Universitat zu Kiel (IFM-GEOMAR).

Work will also include collating a high-precision bathymetric survey

over the structure as part of the marine research project Jeddah

transect conducted by IFM-GEOMAR and King Abdulaziz University of

Jeddah, Saudi Arabia.

The survey has already, for the first time, using specially adapted

cameras operating within the brine pool, managed to obtain detailed

photographs and video of the Atlantis II Deeps surface. During the two

months, marine scientists from Saudi Arabia and Kiel will perform joint

biological, geological and geophysical studies on Atlantis II and other

parts of the Red Sea in three legs from an area off the coast up to the

trench axis of the Red Sea at two kilometres depth. The Jeddah transect

project includes a broad range of scientific activity, including the

investigation of the Atlantis II Deeps, which is known to contain

significant precious and base metal mineralization. The DFI/Manafa

joint venture was granted the world’s first deepwater marine mining

licence by the Red Sea Commission in May, 2010.

The company expects to complete a National Instrument 43-101-compliant

resource statement for the Atlantis II deposit before the end of March.

The work is being independently undertaken by A.C.A. Howe based a total

of 565 cores. The cores reflect only the average top 8.5 metres of the

deposit (the average depth of penetration), which is known to be open

at depth.

“The information gained from the RV Poseidon’s survey will add to the

company’s extensive database on the Atlantis II deposit and help us

plan follow-up surveys, provisionally scheduled for later this year,

and develop the resource,” said Ian Ransome, DFI’s chief executive officer. Survey results

are expected by the second quarter of 2011.

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