18 March 2014
Peregrine Diamonds Ltd. ("Peregrine" or "the Company") (TSX:PGD) is pleased to announce that the 2014 exploration and diamond resource definition program at its 100 percent-owned Chidliak diamond project ("Chidliak" or "the Project"), on Baffin Island, Nunavut, Canada, has commenced. The primary objective of the 2014 program will be to advance 3 to 5 kimberlites showing economic potential to the bulk sample stage and to commence logistical preparations for the 2015 bulk sampling program. The objective of the 2015 bulk sampling program will be to confirm sufficient diamond resources to enable commencement of a pre-feasibility study for Baffin Island's first diamond mine. The approved budget for the 2014 program is $7,000,000.