26 January 2015
Peregrine Diamonds Ltd. ("Peregrine" or "the Company") (TSX:PGD) is pleased to report a 15 percent increase in the Inferred Mineral Resource estimate for the upper 250 metres of the CH-6 kimberlite pipe, and a 23 to 26 percent increase in the estimate of additional kimberlite tonnage at CH-6. The tonnage estimates for the CH-7 and CH-44 kimberlite pipes have also significantly increased by 35 to 51 percent and 10 to 56 percent respectively. The Canadian National Instrument ("NI") 43-101-compliant Inferred Mineral Resource and tonnage estimate expansions are a result of drill programs completed by the Company in 2014. The CH-6, CH-7 and CH-44 kimberlite pipes are located on Peregrine's 100 percent-owned Chidliak project ("Chidliak") on Baffin Island, 120 kilometres from Iqaluit, the capital of Nunavut, Canada.