D.f.i’s Red Sea Silver/zinc/copper Polymetallic Deposit Becomes First Marine Sedex in History to Have Third Party National Instrument 43-101 Resource Report Completed

Diamond Fields International Ltd. has released the world’s first

NI 43-101-compliant resource estimate for a marine sedimentary

exhalative (Sedex) deposit, completed on the company’s Atlantis II

sea floor deposit, located in the Red Sea. The NI 43-101 report was

compiled by ACA Howe International Limited.

The resource estimate compiled by ACA Howe is an independent report

prepared by a qualified person as defined by the Canadian National

Instrument 43-101 and the companion policy 43-101CP.

SUMMARY OF THE 2011 ACA HOWE INFERRED RESOURCE FOR

THE ATLANTIS II DEEPS DEPOSIT

Wet Sediment Sediment DSF Metal Metal DSF

density volume m tonnage tonnage tonnes volume metal

(3) (millions) (millions) (thousands) grade grade

(millions)

Zinc 1.29 473.93 604.21 80.88 1,643 3.47 kg/m3 2.03%

Copper 1.29 473.93 604.21 80.88 368 0.78 kg/m3 0.46%

Silver 1.29 473.93 604.21 80.88 3.35 7.07 g/m3 41.14 g/t

*Dry salt free (DSF)

The report is based on 589 cores collated from the Preussag A.G.

exploration results (1969 to 1979).

In compiling the resource estimate, ACA Howe noted that:

The estimated tonnages and grades include both high- and low-grade areas

of the Atlantis II Deeps, of which only the top 8.5 metres of sediment

have been sampled and the deposit is therefore open at depth. The

average total thickness of the deposit is known to exceed 30 metres.

• The estimated tonnages and grades include both high- and low-grade areas

of the Atlantis II Deeps, of which only the top 8.5 metres of sediment

have been sampled and the deposit is therefore open at depth. The

average total thickness of the deposit is known to exceed 30 metres.

Higher grade copper, zinc and silver mineralization is contained within

the South West, West and Eastern subbasins where metre core intersects

of up to 22.47 per cent zinc, 2.05 per cent copper and 338 grams per tonne silver have been

obtained.

• Higher grade copper, zinc and silver mineralization is contained within

the South West, West and Eastern subbasins where metre core intersects

of up to 22.47 per cent zinc, 2.05 per cent copper and 338 grams per tonne silver have been

obtained.

Historic resource estimates reference the presence of significant

co-product metal values including manganese, lead, cobalt, cadmium and

gold.

• Historic resource estimates reference the presence of significant

co-product metal values including manganese, lead, cobalt, cadmium and

gold.

The company is confident that the feasibility work now under way will

enable the true value of the co-product metal mineralization to be

realized and reflected in a future updated NI 43-101 report. However

the company is not treating the historic estimates as a current NI

43-101 defined resource and the historical estimates of co-products

should not therefore be relied upon.

Ian Ransome, DFI’s chief executive officer, said: “This is a mining first. Combined with the

substantial data DFI already has on the Atlantis II deposit and the

company’s experience as one of only a handful of companies to

commercially mine the oceans, uniquely places Diamond Fields to develop

the Atlantis II deposit. Together with its joint venture partner Manafa

International of Saudi Arabia, the company now moves to the feasibility

and financing stages of developing this world-class marine deposit.”

DFI and Manafa are in financing discussions with institutions and funds

in Canada, Europe and the Middle East that have expressed an interest

in the project. As operator and majority interest holder, DFI has begun

a prefeasibility study, including discussions with third parties for

additional coring that will penetrate beyond the uppermost, sampled

layers of the deposit, and permit a complete assessment of the

polymetallic value of the orebody.

The ACA Howe NI 43-101-compliant resource estimate will be filed and

published on SEDAR within the next 45 days.

Information of a scientific or technical nature contained in this

release has been prepared and reviewed by Mr. Ransome, PriNatSci,

chief executive officer, who constitutes a qualified person within

the terms of National Instrument 43-101 regulations.