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Gold/Mining/Energy : Diamond Fields International Ltd. (DFI.T)
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To: Diamond Daze who wrote (16)5/9/1999 8:55:00 AM
From: John Thomas   of 141
 
Not much going on with DFI.T

VANCOUVER, May 6 /CNW-PRN/ - Diamond Fields International Ltd. is pleased to announce that its wholly-owned Namibian subsidiary Diamond Fields Namibia (Pty) Ltd. has formally been granted renewal of its exclusive prospecting licence EPL 1607 covering the company's prime prospective offshore area near Luderitz, Namibia. The license area is some 540 square kilometers in extent and contains most of the diamond bearing features thus far identified by the Company. The two-year renewal of the license, which has been held by the Company and its predecessor Diamond Fields Resources since 1993, is the maximum period allowable under the Namibian Minerals Act for any renewal period. However, the Act does not limit the number of renewal periods that may be granted to complete exploration and development. In total, the company holds four exclusive prospecting licenses and one mining license offshore in the vicinity of Luderitz.

Diamond Fields International is pleased to have the Namibian government's continued confidence in, and support of, its activities in Namibia. The Company continues to be most favorably encouraged by the stable fiscal, regulatory and political regimes of the country.

Based on initial results received, the Company believes that exclusive prospecting license EPL 1607 potentially contains some of the most profitable marine diamond deposits known. The Company's current key focus is on the continued sampling and development of its marine diamond concessions in Namibia. Diamond Fields International is a Canadian based international diamond mining and exploration company.

John
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