STAR Diamond Corporation Completes Acquisition of RIO Tinto’S 75% Interest IN Fort À LA Corne Joint Venture
NEWS RELEASE
TSX: DIAM Saskatoon, Saskatchewan
STAR DIAMOND CORPORATION COMPLETES ACQUISITION
OF RIO TINTO’S 75% INTEREST IN FORT À LA CORNE JOINT VENTURE
SASKATOON, Saskatchewan, March 26, 2024 – Star Diamond Corporation (“ Star Diamond “) today
announced the completion of its previously announced transaction (the “Transaction”) with Rio Tinto
Exploration Canada Inc. (“ RTEC”) whereby RTEC has transferred to Star Diamond all of RTEC’s 75%
interest in the Fort à la Corne diamond project located in central Saskatchewan (the “Project”). Star
Diamond now owns 100% of the Project.
In connection with the completion of the Transaction, Star Diamond today issued 108,204,112 common
shares to RTEC, such that RTEC and its affiliates now own 19.9% of Star Diamond’s issued and
outstanding common shares. RTEC and Star Diamond also today entered into an investor rights
agreement (the “ Investor Rights Agreement”) whereby, among other things, RTEC has been granted
certain pre-emptive rights to maintain its 19.9% ownership interest in Star Diamond in connection with
future financings undertaken by Star Diamond, and RTEC has agreed to certain standstill protections
provided that RTEC has the right to increase its 19.9% ownership position in the event that Star Diamond
receives an acquisition proposal.
The Transaction was completed pursuant to an agreement (the “Agreement”) dated November 28, 2023
previously jointly announced by Star Diamond and RTEC. Copies of the Agreement and the Investor
Rights Agreement are available under Star Diamond’s profile on SEDAR+ at www.sedarplus.ca and on
Star Diamond’s website at www.stardiamondcorp.com.
About Star Diamond Corporation
Star Diamond is a Canadian-based corporation engaged in the acquisition, exploration and development
of mineral properties. Shares of Star Diamond trade on the Toronto Stock Exchange under the trading
symbol “DIAM”. Star Diamond’s most significant asset is its 100% interest in the Fort à la Corne property
in central Saskatchewan. These kimberlites are located in close proximity to established infrastructure,
including paved highways and the electrical power grid, which provide significant advantages for future
mine development.
Caution Regarding Forward-looking Statements
This press release contains "forward -looking statements" and/or "forward -looking information" (collectively, "forward -
looking statements") within the meaning of applicable securities legislation. All statements, other than statements of
historical fact, a re forward -looking statements. The use of any of the words “anticipate”, “plan”, “aim”, “target”,
“contemplate”, “continue”, “estimate”, “expect”, “intend”, “propose”, “might”, “may”, “will”, “shall”, “project”, “should”,
“could”, “would”, “believe”, “pred ict”, “forecast”, “pursue”, “potential”, “possible”, “capable” and similar expressions are
intended to identify "forward-looking statements.
These forward -looking statements are based on Star Diamond's current beliefs as well as assumptions made by and
information currently available to Star Diamond and involve inherent risks and uncertainties, both general and specific. Risks
exist that forward-looking statements will not be achieved due to a number of factors including, but not limited to, the impact
of changes in the laws and regulations regulating mining exploration, development, closure, judicial or regulatory judgments
and legal proceedings and the additional risks described in Star Diamond's most recently filed Annual Information Form,
annual and interim MD&A.
Although management of Star Diamond considers the assumptions contained in forward -looking statements to be
reasonable based on information currently available to Star Diamond, those assumptions may prove to be incorrect. When
making decisions with respect to Star Diamond, investors and others should not place undue reliance on these statements
and should carefully consider the foregoing factors and other uncertainties and potential ev ents.
Star Diamond does not undertake any obligation to release publicly revisions to any forward -looking statement to reflect
events or circumstances after the date of this release, or to reflect the occurrence of unanticipated events, except as may be
required under applicable securities laws. Investors should not assume that any lack of update to a previously issued forward-
looking statement constitutes a reaffirmation of that statement. Continued reliance on forward-looking statements is at
investors’ own risk.
For further information: [email protected] or (306) 664-2202
www.stardiamondcorp.com
- END -
2