17 November 2015
November 17, 2015
Peregrine Diamonds Ltd. ("Peregrine" or "the Company") (TSX:PGD) is pleased to report new microdiamond results from the CH-7 and CH-6 kimberlites at its 100% owned Chidliak diamond project ("Chidliak") in Nunavut, Canada. Interpretation of the CH-7 results supports an improved diamond content for the entire kimberlite pipe and confirms the exceptional diamond counts for the near-surface KIM-5 unit. The CH-6 results support continuity of the 2.58 carat per tonne ("cpt") grade in the dominant KIM-L unit and the potential to add an additional 1 million to 1.2 million tonnes, or an additional 2.5 million to 3.1 million carats to the existing 8.57 million carat Inferred Resource at CH-6 that occurs shallower than 250 metres of depth. This tonnage is currently considered as a Target for Further Exploration ("TFFE"). The TFFE is conceptual in nature and it is uncertain whether the 2015 Diamond Resource Development Program will result in this being delineated as a Mineral Resource.