| ||Tue Jul 6, 2004|
Diamond Fields JV Recovers 20,916 Carats of Diamonds in 22 days of Production in Marshall Fork, Namibia
| ||Vancouver, July 6, 2004 - Diamond Fields International Ltd.(TSX:DFI) is very pleased to announce results from the first 22 days of mining in the western limb (MF5) of its Marshall Fork deposit off Luderitz, Namibia. A total of 59,578 diamonds (20,916 carats) of 95% gem quality diamonds were recovered between June 9 and June 30, 2004 by the Seabed Crawler and the MV Kovambo. The diamonds will be split 50/50 with Samicor Mining Services (Pty) Ltd., DFI's joint venture partner in the mining the ML111 marine diamond concession.|
As reported in a feasibility study by MRDI, the Company's ML 111 marine diamond concession has an indicated resource of 1.1 million carats with a grade of 1.01 carats per m2. Chief geologist Randal Cullen, a Qualified Person as defined by National Instrument 43-101, reported that recovered grades have exceeded expectations by more than 150% and recoveries have included several stones in excess of 5 carats including one gem quality stone in excess of 12 carats, confirming the presence of a larger stone size population whose source has yet to be determined.
Gregg J. Sedun, President and CEO of Diamond Fields states "We are extremely pleased with these outstanding early results reflecting the excellent performance and efficiency of the MV Kovambo and the Seabed Crawler and quality of our Marshall Fork concession. The higher than anticipated grade and resulting diamond production during this short period has definitely exceeded our projections."
Diamond Fields International Ltd. is an internationally active exploration and mining company pursuing mineral exploration opportunities worldwide. The Company's corporate strategy is to maximize cash flow from its Namibian marine diamond concessions and systematically explore and develop its international mineral exploration projects. In addition, the Company continues to explore opportunities to acquire new economic mineral projects worldwide.
DIAMOND FIELDS INTERNATIONAL LTD.
"Gregg J. Sedun"
Gregg J. Sedun
President and Chief Executive Officer
For further information contact Investor Relations (1-888-682-2113)
Statements in this release that are forward-looking statements are subject to various risks and uncertainties concerning the specific factors identified in the Diamond Fields' periodic filings with Canadian Securities Regulators. Such forward-looking information represents management's best judgment based on information currently available. No forward-looking statement can be guaranteed and actual future results may vary materially. Diamond Fields does not assume the obligation to update any forward-looking statement.
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