8 March 2016
5.33 Carat Diamond Valued at US$3,106 per Carat
Peregrine Diamonds Ltd. (“Peregrine” or “the Company”) (TSX:PGD) is pleased to announce the results of an independent diamond valuation for an aggregate 735.75 carat parcel of commercial-size (+1.18 mm square mesh) diamonds recovered from five geological units of the CH-7 kimberlite pipe at the Company’s 100 percent owned Chidliak Diamond Project, Nunavut, Canada. The current average price was US$100 per carat, and ranged from US$73 to US$154 per carat across parcels from the five geological units represented. The modelled average price ranged from a low of US$94 per carat to a high of US$155 per carat, with a base modelled price of US$114 per carat. The eight highest value diamonds ranged in size from 1.35 carats to 5.33 carats, weighed 21.58 carats in total, and had a current average price valuation of US$1,619 per carat.