As a result of a review by the British Columbia Securities Commission (BCSC), Diamond Fields International Ltd. is issuing the following news release to clarify its disclosures.
In the management discussion and analysis dating back to March 31, 2009, the company disclosed a resource estimate for its Valozoro nickel laterite property in Madagascar. The resource estimate as disclosed is not supported by a current technical report compliant to National Instrument 43-101, and as such the resource estimate should not be relied upon. The company retracts that resource statement.
On the company website under Namibian projects, a historic resource was quoted for the ML111 property dating back to 2001. This resource statement has been updated in accordance with a recent technical report which will be filed shortly. As such investors are cautioned that no reliance should be placed on this estimate until such time that a compliant NI 43-101 report has been filed.
The company filed an amended technical report review of historic resource estimates and CIM-compliant resource estimate for the Atlantis II Deep copper, zinc, silver and manganese deposit, Red Sea, dated Oct. 28, 2011, and prepared by ACA Howe in support of the first time disclosure of mineral resources in the company press release of July 26, 2011. The resource estimates contained within the report are not supported by an NI 43-101-compliant technical report, and should not be relied upon until they have been independently verified and supported by a compliant technical report.
Ian Ransome, BSc (honours), PrSciNat, the company’s president and chief executive officer, is a registered geological scientist with the South African Council for Natural Scientific Professions (SACNASP), and is thus a qualified person in terms of NI 43-101. He has compiled and reviewed the scientific and technical information contained in this news release.
