VANCOUVER, January 9, 2006 – Diamond Fields International Ltd. (TSX:DFI) (“DFI” or the “Company”) is very pleased to announce the first discovery of kimberlite on its 1,095 km2 Grand Cape Exploration License in western Liberia. Based on recovery of G10 garnets and high kimberlitic ilmenite counts from samples taken in closed drainages, reconnaissance stream sediment sampling on the Grand Cape property has so far located 10 high priority targets for detailed follow up with about 45% of the property covered by reconnaissance sampling so far. A sampling grid measuring 1km x 1km was established over a swampy depression suggesting the structure of a pipe of about 3 hectares in size from which G10 garnets had been recovered.
Further exploration by the Company’s geologists led to the discovery of an outcrop of suspected kimberlite on the margin of the swampy ground. The discovery of kimberlite was confirmed by mineralogist Sophia Napier of Nexo Labs in South Africa. A second nearby grid was sampled resulting in the identification of a nearly continuous 3 km trend of kimberlite indicator minerals suggesting a source which is probably a dyke or series of sub parallel dykes of as yet unknown widths. Samples from both grids arrived in the lab just before Christmas and DFI anticipates further results by mid-January. Follow up work on these grids is planned to include ground geophysics and drilling.
Also on the Grand Cape property the Henry Town gold showings, which have returned visible gold in reconnaissance sampling, are now the target of artisanal miners recovering coarse gold from the weathered regolith which is up to 15m thick in this area. DFI’s geologists will continue to explore what appears to be a shear hosted gold system with reconnaissance soil, grid and trench sampling. The objective is to develop drill targets as soon as possible to test the grade and dimensions of this mineralization.
The Barteajam artisanal workings on the 718 km2 Grand Gedeh property in central Liberia have been continuously active since 1945. Located east of the Cestos Shear Zone, a crustal level feature extending into Mali and host to numerous gold deposits including the Syama Mine, the Grand Gedeh property has the potential to host a multi-million ounce gold deposit based on the extent of artisanal working to date. Initial results from DFI’s work on the first detailed sampling grid of 100m spaced lines with samples at 50m along the lines has so far shown a semi continuous 1.6km long gold anomaly in soils. Sample processing is ongoing as is the work in the field. This target area is extensive, covering an area of more than 5 km2. The property also requires reconnaissance sampling as the Barteajam area covers less than 1% of the total concession area. Initial reconnaissance sampling work has already recovered visible gold in samples from the northwest corner of the property, closer to the Cestos Shear.
Diamond Fields’ exploration team is comprised of geologists seconded from the Liberia Department of Minerals and Energy. The stream sediment samples were jigged in the field to create approx 1 kg of heavy mineral concentrate and picked by Sophie Napier, a mineralogist with more than 10 years industry experience at Nexo Labs of Kyalami, South Africa (ISO14001 accreditation has been applied for) and probed at the analytical facility of the University of Johannesburg (a merger between Rand Afrikans University and Wits University). The results of the stream sediment sampling program have been reviewed, verified (including sampling, analytical and test data) and compiled by the Diamond Fields’ geological staff supervised by Mr. Randal Cullen, P.Geol., a Qualified Person as indicated under NI 43-101.
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.
Roger Daniel, President and Chief Executive Officer
For further information contact Greg Girdler, Investor Relations at (1.604.682.2113- extension 257)
Statements in this release that are forward-looking statements are subject to various risks and uncertainties concerning the specific factors identified in Diamond Fields’ period filings with Canadian Securities Regulators. Such forward-looking information represents managements’ 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.