(Cape Town, February 7, 2007) — Diamond Fields International Ltd. (DFI:TSX) (“DFI” or the “Company”) is pleased to announce that initial diamond production from the indicated resource areas defined under the previously announced joint operations agreement with Bonaparte Diamond Mines NL (“Bonaparte”) is exceeding expectations.
The diamond recoveries by the MV DF Discoverer, in the DP1 joint operations (JO) area in ML111 off Luderitz, Namibia are better than expected. In the area mined to date, more diamonds have been recovered than were predicted from the grade estimates within the defined Indicated Resource area derived from sampling data. A total of 1,448 diamonds weighing 705 carats at average stone size of 0.49 carats per stone has been recovered in the first 8.5 days of operations.
In addition, mining to date has also shown that the mineralization and payable grades are more extensive than originally defined by the sampling data and mining has thus progressed into some areas not included in the original resource estimate and mine plans. The diamonds recovered to date continue to be more than 95% gem quality, and their average size, at 0.49 carats/stone, is significantly higher than displayed in most deposits delineated to date in the Luderitz area.
Mine plans comprising 625m2 mining blocks (25m X 25m) have been prepared for the 7 Indicated Resource areas in DP1 covering a total area of 315,000 m2 which contain an Indicated Resource of 63,000 carats.
DFI’s President and CEO, Roger Daniel said, “These early stage mining results are very encouraging and at current production levels and with the larger stone size the joint operations with Bonaparte are generating substantial cash flow.”
Roger J. Daniel, B.Sc. (Hons) Geology, London, Pr.Sci.Nat., the Company’s President and CEO, is a Fellow of the South African Institute of Mining and Metallurgy (SAIMM) and is also a registered geological scientist with the South African Council for Natural Scientific Professions (SACNASP) and is thus a Qualified Person in terms of National Instrument 43-101, has compiled and reviewed the scientific and technical information contained in this News Release.
DIAMOND FIELDS INTERNATIONAL LTD.
“Roger J. Daniel”
Roger J. Daniel, President and CEO
For further information, contact Roger Daniel at +27 21 425 1990
Statements in this release that are forward-looking statements are subject to various risks and uncertainties concerning the specific factors identified in 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.