NEW YORK, Aug. 21, 2002 (PRIMEZONE) -- The continuing exploration in the Torngat Mountain Region of Quebec, Canada on the properties covered by permits owned by Diamond Discoveries International Corp. (OTCBB:DMDD) has indicated an area of diamond potential, according to a new geologist's report.
Analyzing the Company's potential in Canada, the report by Robert Dillman of Arjadee Prospecting in Ontario, Canada, stated: "in a very short time, Diamond Discoveries International has established two new diamond sources and has made many significant discoveries of potential diamond-bearing rock with essentially kimberlite or closely related compositions and characteristics."
Dillman's report also stated that Diamond Discoveries International, "has made the first discovery of kimberlite `pipes' in the region."
"Throughout the world, kimberlite pipes and blowouts are the dominant structures hosting economic diamond deposits," Dillman explained.
He stated that Diamond Discoveries International has thus far, "identified 16 dykes and 4 pipes of kimberlite or material closely related to kimberlite." This was achieved by an exploration program involving ground investigation and mineral sampling by skilled geologists and prospectors.
Dillman is a geologist who specializes in the identification of minerals associated with kimberlite and diamonds. He has not visited any of the properties covered by his report and has based his information on his interpretation of minerals collected on the properties covered by Diamond Discoveries International permits and on reports of discoveries presented to him by management and field personnel. Dillman was hired by Prospecting Geophysics Ltd., the Canadian geophysics company in charge of the exploration program and a shareholder of Diamond Discoveries International. Mr. Dillman was paid for his analysis and report by Prospecting Geophysics Ltd.
Diamond Discoveries International Corp., a Delaware company engaged in mineral exploration, has permits for exploration of approximately 130,000 acres in the Torngat region. It is traded on the Over-the-Counter Bulletin Board - OTCBB - under the Trading Symbol: "DMDD."
The full text of the report is available from the Company. A direct link to the report is: http://www.diamonddiscoveries.com/corporate/. Further information about Diamond Discoveries International is on the Company's Internet Site at www.diamonddiscoveries.com.
With the exception of historical information, the matters discussed in this news release are forward-looking statements that involve a number of risks and uncertainties. The actual benefits to Diamond Discoveries International Corp. could differ from those statements.