Karrington Holdings Corp. Announces Potential Diamond Mine


PRAGUE, Czech Republic, Aug. 11, 2005 (PRIMEZONE) -- Karrington Holdings Corp. (Pink Sheets:KGHC) announced today that the founder and CEO of the Corp., R. Revell Murphy, has successfully completed a Letter of Intent to purchase a controlling interest in a Brazilian diamond mine secured by Braz Diamond Mining, Inc.

The Company (Braz Diamond Mining, Inc.) has identified four kimberlite pipes in the area. One of the pipes (Redondao kimberlite pipe) was proven to be diamondiferous in an independent study (Svisero 1977). There are indications of the presence of other kimberlite pipes in the area.

The Company (Braz Diamond Mining, Inc.) has secured over 450,000 acres of land favorable for diamond exploration and development including the land covering the four identified kimberlite pipes as well as land covering favorable placer deposits. Independent geological reports and technical data produced to date provide strong evidence of the presence of one or more diamond bearing kimberlites within the land currently controlled by Braz Mining.

Delineation and evaluation of the diamond content and value of these kimberlitic bodies is planned in conjunction with the alluvial bulk sampling program. Discovery of a kimberlitic body with diamond values sufficient for commercial mining is the most direct way of adding value to the company.

Forward looking statements in this release are based on current expectations, which may differ materially from actual results. Forward-looking statements include, without limitation, those regarding management's plans, objectives and strategy for future operations, production plans and performance, management's assessment of market factors, and future financial performance and fall within the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Among factors that could cause actual results to differ materially are changes in business conditions, changes in the Industry and the general economy, competition, changes in service offerings, risks associated with Karrington's history, entry into developing markets and new product lines, and managing rapid growth, and risks associated with international operations, dependence on effective information systems and the development of the Company's current and anticipated products.



            

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