VANCOUVER, British Columbia, Aug. 26, 2004 (PRIMEZONE) -- Diamond Discoveries International Corp. (OTCBB:DMDD) announced that they have secured drill equipment for the Torngat Mountain project and now expects to commence drilling by early September. The press release of June 17, 2004 stated that initial supplies and equipment were being mobilized to George River.
A diamond drill contract has been finalized with Suisse Diamond Drilling of Smithers, B.C. whose principals have extensive experience in Artic permafrost drilling conditions. A light portable drill capable of being moved by helicopter with drilling depths of up to 1000 ft. will be used on the project. "We are planning about 10,000 ft. of drilling, consisting of 30 to 35 holes in the 300 ft. range," said Peter Ferderber, consultant and Project Manager to Diamond Discoveries. "The drill program which is expected to start in September will continue until weather permits. At such time we will retain the drill over the course of the winter and resume the drilling process next spring."
The primary targets for the fall drill are Round Lake pipe and the Champagne complex which includes pipes and dykes.
Diamond Discoveries is pleased to initiate their drill program after four years of surface exploration. The program has identified diamond indicator minerals such as micro-diamonds, rubies, chrome diopside, pyrope garnets and olivines which have been verified by independent laboratories. These independent laboratories have also assisted the company in pinpointing the primary drill targets based upon data generated from crushed kimberlite rock samples.
On Behalf of the Board
John Kowalchuk, P.Geo., President & CEO
About Diamond Discoveries International Corp.
Diamond Discoveries International Corp. (OTCBB:DMDD) is a U.S. exploration company with executive offices in Vancouver, B.C. Through its wholly owned subsidiary Diamond Discoveries (Canada) Inc., it controls certain mineral permits in the Torngat Mountains Peninsula, northeastern Quebec. The Company is focused on exploring for diamonds. The Company has located more than 50 kimberlite dykes and several kimberlite pipes. This fall, they plan on actively sampling the targeted areas for diamonds both by bulk sampling and core drilling.
Forward-Looking Statement
This news release contains discussion of items that may constitute forward-looking statements within the meaning of securities laws that involve risks and uncertainties. Although the company believes the expectations reflected in such forward-looking statements are based on reasonable assumptions, it can give no assurances that its expectations will be achieved. Factors that could cause actual results to differ materially from expectations include the effects of general economic conditions, actions by government authorities, uncertainties associated with contract negotiations, additional financing requirements, market acceptance of the Company's products and competitive pressures. These factors and others are more fully discussed in Company filings with U.S. securities regulatory authorities.