| 1) In June 94, a private company, Colorado Diamonds NL, discovered a
14.2 carat stone from Kelsey Lake, 8th largest diamond found in North
America. 14.2 carat stone valued at $250,000 |
| VANCOUVER, BRITISH COLUMBIA--The Company is very pleased to announce
that it
has re-negotiated a much more favourable agreement to acquire a full
100% interest of the
mineral rights in the Lena/Schuller diamond mine from SP Mining instead
of only a 50%
interest as originally announced. The Company had an option to purchase
an additional 32%
of Diamco (PTY) for another $2 Million. |
| US DIAMOND CORP
***************
Started as a shell company which began trading again at the end of
June as far as the chart goes at stockwatch. Trading from June till
now has been very slim with some large blocks being put in good
hands to maintain a tight float. |
| Diamcor Mining Inc. plans to continue with further acquisition plans as
previously
announced to build a portfolio of revenue producing diamond mines which
can greatly
enhance profitability. |
| kimberlite resource of 16.9 million tonnes to a depth of 100 metres
(328 ft) with the two largest pipes KL1 and KL2 having a combined
surface area of nine hectares (22 acres). Drilling indicates
kimberlite weathered to a depth of at least 100 metres.
A number of parties have approached the Company to market the Kelsey
Lake diamonds exclusively in the USA. An announcement is expected
shortly. The Company has also recorded Colorado Diamonds and
Kelsey Lake Diamonds as Registered Trademarks.
Revenues from the Kelsey Lake diamond mine are expected to impact
Redaurums results in the third quarter of 1996 when the first
marketable parcel of diamond production is to be sold. The Company
believes the third quarter results will show effects of the combined
diamond sales from all four of its operations: Kelsey Lake, Quaggas
Kop, Avontuur and River Ranch. |
