15 November 2016
Toronto, Ontario: November 15, 2016 – Kennady Diamonds Inc. (“Kennady Diamonds”, the “Company”) (TSX-V: KDI) is pleased to announce the results of a valuation of diamonds recovered from the Kelvin kimberlite at the 100 percent-controlled Kennady North project located in Canada’s Northwest Territories. A total of 2,262.43 carats (+0.85mm) recovered from bulk sampling programs conducted in 2015 and 2016 were sent to WWW International Diamond Consultants (‘WWW’) in Antwerp for valuation. WWW has reported an average value of US$52 per carat for the total parcel, with the very encouraging presence of high value gem quality stones noted in 2015 confirmed in the 2016 bulk sample, including a 2.84 carat sawable diamond valued at US$2,640 per carat. An independent market valuation exercise completed in Antwerp last week arrived at the same average value as WWW.
“Based on the results of the bulk sampling programs it’s apparent that the quality of Kelvin diamonds improves with size”, noted Dr. Rory Moore, president and CEO of Kennady Diamonds. “A similar trend exists at the neighboring Gahcho Kué diamond mine located five kilometers to the southwest of the Kelvin kimberlite. The five highest value Kelvin diamonds represent one percent of the sample weight, but 20 percent of the total value. This trend is a key determinant of overall value.”