Five STAR Diamonds Increases Its Ownership IN Brazil
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TSX-V STAR
Market Release
31 July 2017
FIVE STAR DIAMONDS
LIMITED
Av. Jornalista Ricardo Marinho, 360
Ed. Cosmopolitan - Sala 113,
CEP 22631-350
Barra da Tijuca - Rio de Janeiro
Brazil
Tel: +55 8 9200 6264
Contact:
Joe Burke, GM Marketing
Rajan “Raj” Rai
+1 778 835 9200
Directors / Officers:
Matthew Wood
Luis Azevedo
Brian McMaster
Gizman Abbas
Simon Rothschild
Nicholas Pike
TSXV: STAR
FIVE STAR DIAMONDS INCREASES
ITS OWNERSHIP IN BRAZIL
Toronto, ON - Five Star Diamonds Limited (TSXV: STAR) (the
“Company” or “Five Star Diamonds”) is very pleased to provide the
following update on its activities in Brazil.
Highlights
Ø The Company has increased in land ownership in
Brazil by approximately 50% with an additional
62,313 hectares of land ownership acquired.
Ø Jaibaras Diamond Project increases from 522
hectares to 49,443 hectares.
Ø Gurupi Diamond Project in Maranhao State across 1
property covering 9,909 hectares.
Ø Mega Goias Diamond Project expansion of 1,850
hectares.
Ø The Company now controls 24 diamond kimberlite
projects in Brazil comprising an aggregate of 80
exploration licences and applications across
185,980 hectares.
In light of the exceptional results obtained on the drilling programme at
Jaibaras Diamond Project, in Para State, Brazil the Company recently
applied for additional mineral properties increasing the Jaibaras Project
size from 522.26 hectares to 49.443,47 hectares.
These new applications contain regional magnetic anomalies and a series
of historical samples collected from De Beers in the 90’s, which will add
new potential targets to the project.
This is a very exciting acquisition for the Company and not only protects
the surrounding area where the Company has been actively undertaking
its mini-bulk sampling and drilling programme.
In addition to the expanded Jaibaras acquisition the Company has also
acquired the Gurupi Diamond Project in Maranhao State. The Gurupi
Project comprises one property with 9,909 hectares.
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An additional 1,850 hectares was acquired across two additional properties of
1,000 hectares each at the Mega Goias project in Goias State.
The Company will evaluate these acquisitions with a primary focus on expanding its
current activities in Jaibaras Diamond Project.
ABOUT FIVE STAR DIAMONDS
The Company is listed on the TSX Venture Exchange under the ticker symbol STAR.
The Company controls a dominant and highly enviable position in the Brazilian
kimberlite diamond sector owning 24 diamond kimberlite projects comprising an
aggregate of 80 exploration licences and applications across 185,980 hectares.
Five Star Diamonds is focused on acquiring and developing advanced staged diamond
projects in Brazil. Since it was established, it has pursued an accelerated growth strategy
and aims to be one of the first producers of diamonds from kimberlite deposits in Brazil.
The Company is focused on the development of sustainable kimberlite pipes and is not
involved in alluvial diamond mining with its associated environmental issues. The
Company works closely with local, state and federal authorities in Brazil to foster an open,
transparent and legal diamond industry in Brazil.
This release is an update by the Company on its diamond projects in Brazil. The Company
is running active programmes across its 100% owned Jaibaras, Catalao, Riacho, Verissimo
and Caiapo Diamond Projects. It is expected that the company will be able to provide
further updates over the coming months and we look forward to keeping shareholders
informed of our progress as we move towards building a truly unique Brazilian Diamond
Company.
Qualified Person
Mr Paulo Ilídio de Brito
BSc Geology
Mr. Paulo de Brito is a geologist based in Brazil, has over 30 years of experience in the
mining industry, dealing primarily with gold, copper, nickel, iron, industrial minerals and
more recently diamonds. Mr. Brito is a Principal of consulting group Brasgeo and was
until recently Exploration Manager of Paringa Resources Limited. Previously, he worked
as a senior geologist with WMC Resources Ltd for 18 years until the closure of their
activities in Brazil in 2002.
The exploration activities and their related results included in this announcement were
directly supervised and managed by Mr. Brito. According to Mr. Brito, all exploration
work carried out to date on the Projects mentioned in this release follow clear mining
industry standards.
Mr. Brito, is a member of AIG (Australian Institute of Geoscientists), a member of AusIMM
(The Minerals Institute) and a Qualified Person as defined in National Instrument 43-101.
Mr. Brito reviewed and approved the scientific and technical information contained in
this press release.
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On behalf of the Board
Five Star Diamonds Limited
Matthew Wood
Chairman of the Board, President and CEO
Cautionary Note Regarding Forward-looking statements
Information set forth in this news release contains forward-looking statements. Although the Company believes that
such statements are reasonable, it can give no assurance that such expectations will prove to be correct. The Company
cautions investors that any forward-looking statements by the Company are not guarantees of future results or
performance, and that actual results may differ materially from those in forward looking statements as a result of
various factors, many of which are beyond the Company’s control. Such factors include, among other things: variations
in the nature, quality and quantity of any mineral deposits that may be located, significant downward variations in the
market price of any minerals produced, the Company’s inability to obtain any necessary permits, consents or
authorizations required for its activities, to produce minerals from its properties successfully or profitably, to continue
its projected growth, to raise the necessary capital or to be fully able to implement its business strategies. Accordingly,
actual and future events, conditions and results may differ materially from the estimates, beliefs, intentions and
expectations expressed or implied in the forward-looking information. Except as required under applicable securities
legislation, the Company undertakes no obligation to publicly update or revise forward-looking information.
NEITHER 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.
For further information, please contact:
Five Star Diamonds Limited
Joe Burke, GM Marketing
Rajan “Raj” Rai
+1 778 835 9200