Peregrine Diamonds Announces $7.0 Million Rights Offering and Provides Chidliak Update

19 November 2015

November 19, 2015

Peregrine Diamonds Ltd. ("Peregrine" or the "Company") is pleased to announce that it will be offering rights to holders of its common shares of record at the close of business on November 30, 2015 (the "Record Date"), expiring January 26, 2016 ("Expiry Date"). The offering will be made in all of the provinces of Canada and in such other jurisdictions where the Company is eligible to make such offering. All of Peregrine's executive officers and directors intend to fully participate in the rights offering.