Peregrine Diamonds Announces Management Changes

VANCOUVER, BRITISH COLUMBIA--(Marketwired - Dec. 7, 2015) - Peregrine Diamonds Ltd. ("Peregrine Diamonds" or "the Company") (TSX:PGD) announces that Brooke Clements has stepped down as President and CEO of Peregrine Diamonds' wholly owned subsidiary Peregrine Exploration Ltd. ("Peregrine Exploration"). Mr. Eric Friedland, currently the Chairman of Peregrine Exploration has been appointed President and will remain Chairman.

Mr. Clements has held the position of President and CEO of Peregrine Exploration since February, 2015. From 2007 through January 2015 he was President of Peregrine Diamonds. During that period, he led the Company through the discovery and evaluation of the Chidliak diamond project in Nunavut. Mr. Clements will continue to act as a consultant to the Company.

Peregrine Exploration was established early this year to manage the Company's North American assets with the exception of the Chidliak and Qilaq projects, and to utilize the Company's proprietary exploration databases to identify new diamond properties for acquisition and devlopment. Although there is the potential for additional discoveries to be made at these properties and further exploration work is recommended at certain prospects, at this time the Company will focus its resources primarily on Chidliak and the newly acquired Botswana prospecting licenses.

Eric Friedland, Executive Chairman of Peregrine Diamonds and Peregrine Exploration said "Brooke Clements has contributed greatly to the growth of the Peregrine Group. His expertise, hard work and dedication were critical in advancing Chidliak to its current stage. He played a crucial role in assembling Peregrine's highly regarded exploration team. I personally believe that Brooke and I will work closely together again in the future and all of us at Peregrine wish him the best of luck in his future endeavours and l welcome his advice as a consultant to the Company."