Diamond Fields International to Restart Gem Diamond Production
DRAFT
Diamond Fields International to Restart Gem Diamond Production
Vancouver, B.C. (November 20, 2017) - Diamond Fields International Ltd. (TSX-V: DFI) ("DFI" or
the "Company") is pleased to provide an update on its Namibian, offshore, diamond concessions.
Agreement on Mining Program
DFI is pleased to report that International Mining and Dredging Holdings (Pty) Limited (“ IMDH”) and
the Company have agreed to an initial mining program on its ML 111 licence. The initial mining program
is scheduled to commence in 2018 and will extend over a sea floor area of approximately 55 hectares. The
program is to be executed using the state of the art Ya Toivo mining vessel which is equipped with a 4
point-mooring-system integrated anchor -assist and a dynamic positioning (DP2) system which ensures
vessel stability during turbulent sea conditions. The vessel is further equipped with a Remotely Operated
Subsea Tractor, capable of highly efficient and selective mining on the sea floor.
The Company has further concluded dis cussions with IMDH concerning its share of the 2016 bulk
sampling program. All costs associated with this multi -million dollar program were paid for by IMDH.
The parties have agreed that the Company will be paid US$670,000 within 30 days. The results from the
bulk sampling program were extremely encouraging, with an unexpected high frequency of large, high
value stones. Diamonds recovered from the Company’s ML 111 in Namibia are typically of the highest
gem quality, but recent bulk sampling results have exceeded our expectations.
It has been agreed for the duration of the forthcoming initial mining program, and dependent on monthly
production levels, that the Company’s share of net proceeds (after costs) shall be not less than five percent
and the Company anticipates that it could approach fifty percent of its joint venture interest (i.e., 10% of
total proceeds before tax and after deduction of export levies). The parties expect to review mining costs
and other parameters during the initial mining program to find a balance for sharing exploration and
mining costs going forward beyond the initial mining program, particularly regarding resource and
reserve development.
Sybrand Van Der Spuy, CEO of DFI said : “We are extremely excited at the prospect of being back in
production in the very near future. Our product is recognized throughout the world for its exceptional
quality, being 98% gem and we look forward to bringing this niche product back to the market again. This
program will provide our Company with the opportunity to generate significant cash-flow in short order.”
The Company is pleased to reaffirm its ongoing commitment to its Namibian operations with this
announcement.
DIAMOND FIELDS INTERNATIONAL LTD.
SIGNED: “Sybrand van der Spuy”
Sybrand van der Spuy, CEO and Director
Contact: Earl Young at +1 214 566 3709
Website: www.diamondfields.com
The Company’s public documents may be accessed at www.sedar.com
Suite 303, 595 Howe Street Tel: 1-604-685-9911
Vancouver, B.C. Fax: 1-604-718-2808
Canada V6C 2T5
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Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Forward-Looking Statements:
Statements in this release that are forward-looking statements are subject to various risks and uncertainties concerning the
specific factors identified in Diamond Fields’ periodic filings with Canadian Securities Regulators. Such forward-looking
information represents management's best judgment based on information currently available. No forward-looking
statement can be guaranteed and actual future results may vary materially. Diamond Fields does not assume the obligation
to update any forward-looking statement.
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