Lithoquest Diamonds Provides Corporate Update
NEWS RELEASE
July 30, 2020
TSX-V: LDI
Lithoquest Diamonds Provides Corporate Update
VANCOUVER, B.C., July 30, 2020 – Lithoquest Diamonds Inc. (TSX-V: LDI) (“Lithoquest”, or the “Company”) today
provided a corporate update.
New Project Initiatives
Funding for diamond exploration has become increasingly difficult to secure due to challenging conditions in the overall
diamond industry. As a result, the Company has placed the North Kimberley Diamond Project on care and maintenance
until financing conditions improve.
In order to build value, the Company, along with its advisors, has commenced a process to actively review mineral
projects. The objective is to secure, through acquisition or joint venture, one or more projects that offer significant
discovery potential. Preference is being given to projects located in stable jurisdictions, containing gold and copper,
however, other mineral commodities are also being considered. The Company will provide further updates as appropriate.
Grant of Options
The Company has granted stock options in accordance with the terms and conditions of its rolling Stock Option Plan,
entitling the purchase of an aggregate 2,225,000 common shares by certain officers, directors, consultants, and advisors
to the Company. Each stock option will be exercisable at $0.10 per common share until July 30, 2025.
For further information, please contact:
Lithoquest Diamonds Inc.
+1 (604) 506-2804
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX
Venture Exchange) has reviewed or accepts responsibility for the adequacy or accuracy of this release.
Forward Looking Information
This news release includes certain information that may constitute “forward-looking information” under applicable
Canadian securities legislation. Forward-looking information is necessarily based upon a number of estimates and
assumptions that, while considered reasonable, are subject to known and unknown risks, uncertainties, and other factors
which may cause the actual results and future events to differ materially from those expressed or implied by such forward-
looking information. There can be no assurance that such information will prove to be accurate, as actual results and
future events could differ materially from those anticipated in such information. Accordingly, readers should not place
undue reliance on forward-looking information. All forward-looking information contained in this press release is given as
of the date hereof and is based upon the opinions and estimates of management and information available to
management as at the date hereof. The Company disclaims any intention or obligation to update or revise any forward-
looking information, whether as a result of new information, future events or otherwise, except as required by law.