16 January 2014
Peregrine Diamonds Ltd. ("Peregrine" or "the Company") (TSX:PGD) is pleased to report that bulk sample Batch C, from the CH-6 kimberlite pipe on Peregrine's 100 percent owned Chidliak Diamond Project ("Chidliak" or "the Project") in Nunavut, Canada, which weighed 182.1 dry tonnes, returned a diamond grade of 2.87 carats per tonne ("cpt"). A total of 523.5 carats of commercial-size (+0.85 mm) diamonds was recovered, including 42 diamonds one carat or larger and 133 diamonds over 0.50 carat in size. The largest diamond is an 8.87 carat white/colourless octahedron. A significant portion of the parcel is gem diamonds and a population of yellow stones is present. Sample Batch C represents the final portion of a bulk sample weighing 404.2 dry tonnes that was collected by trenching the CH-6 kimberlite in 2013. As reported on December 3, 2013, the first 222.1 tonne portion of the bulk sample returned a grade of 2.70 cpt. The combined grade of the 404.2 tonne sample is 2.78 cpt and 1,124 carats of commercial-size (+0.85 mm) diamonds were recovered. An independent diamond valuation of the 1,124 carat parcel will be completed this quarter in Antwerp, Belgium. At a grade of 2.78 cpt, CH-6 is one of the highest grade kimberlite pipes in the world.