Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Gold/Mining/Energy : Canadian Diamond Play Cafi -- Ignore unavailable to you. Want to Upgrade?

To: Just G who wrote (800)	5/5/2003 10:41:03 AM
From: rdww	Respond to of 16203

Pele Mountain Begins 2003 Field Season at Festival Property FOR IMMEDIATE RELEASE May 5, 2003, Toronto: Pele Mountain Resources Inc. (TSX Venture:GEM) ("Pele") (the "Company") is pleased to announce that the 2003 diamond exploration field season has commenced following the breakthrough discovery this winter of "The Big Goose", a 0.72 carat white gem quality diamond. The recovery of "The Big Goose" and more than 160 other commercial size diamonds in the first 125 tonnes of samples processed from Pele's Cristal and Genesis diamond occurrences marks an important exploration milestone. Previous exploration focused on demonstrating that the diamond deposits hosted commercial size and gem quality diamonds, this goal has clearly been achieved. Future exploration will move forward confidently with the understanding that Pele has discovered an important new source of Canadian commercial size and gem quality diamonds. The 2003 program is under way in the southern half of the Festival Property concentrating in areas of previously discovered diamond-bearing volcanic units in preparation for the 2003 sampling program. Initial stages of exploration during the next few weeks will focus on geological mapping and stripping of areas near previously discovered diamond occurrences. A 10-15 tonne per hour diamond processing plant has been acquired by SGS Lakefield Research Limited ("SGS Lakefield") and has been mobilized to SGS Lakefield where it will be available for processing future samples from the Festival Property. Previous exploration results have demonstrated that large diamond deposits are exposed at the surface within the boundaries of Pele's Festival Property. This winter's drilling campaign confirmed that the diamond bearing facies continue strongly at depth with a 90 to 100 meter true width intersection below the Cristal diamond occurrence. Given the excellent infrastructure, low cost mining and processing possibilities, and the strong potential for an economic diamond deposit, Pele is looking forward to an exciting field season at the Festival Property in 2003. Pele is a Canadian mining exploration and development company and a leader in the search for economic diamond deposits in Northern Ontario. Pele controls a 100% mineral rights interest in the 101 square km Festival Diamond Property, which is located 25 kms north of Wawa. Pele also owns a 100% interest in two gold projects in northwestern Ontario. This press release had been reviewed and approved by Dr. Edward Walker, P.Geo, of PetroLogic Inc., an independent consultant and Qualified Person. For further information please contact Al Shefsky, President at (416) 368-7224, or visit our website at www.pelemountain.com. The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release. Some of the statements contained in this release are forward-looking statements, such as estimates and statements that describe Pele's future plans, objectives or goals, including words to the effect that Pele or management expects a stated condition or result to occur. Since forward-looking statements address future events and conditions, by their very nature, they involve inherent risks and uncertainties. Actual results in each case could differ materially from those currently anticipated in such statements. None of the Company's properties have any known ore body of economic or commercial value. Symbol: GEM Listing: TSX Venture Exchange Common Shares Outstanding: 34,329,014

To: Just G who wrote (800)	5/6/2003 11:35:44 AM
From: VAUGHN	Read Replies (2) \| Respond to of 16203

Hello Stranger Some news to pass along but for up here though: KIDME CLAIMS AWARDED TO DIAMONDS NORTH AND SOUTHERNERA The Kidme claims have been awarded to Diamonds North and SouthernEra Resources Ltd. An announcement by Indian and Northern Affairs Canada on May 2, 2003, released the findings of a federally appointed tribunal established to review a seven-year mineral claim dispute in the Northwest Territories whereby the tribunal upheld a decision made by the supervising mining recorder in May, 1996, thereby awarding the Doyle Lake claims to GGL Diamond Corp. and the Kidme claims to Diamonds North and SouthernEra. Diamonds North holds a 40-per-cent interest in the 34-claim, 90,000-acre Kidme property, which is located south of and adjacent to the Kennady Lake property on which the highly diamondiferous Tuzo and 1034 kimberlite pipes are located. The attached map shows the location of the Kidme claims. Due to the legal dispute since 1996, virtually no exploration has been conducted on the property. The ruling by the tribunal now allows Diamonds North and SouthernEra to explore the Kidme claims only seven kilometres along the southerly extension of the diamondiferous kimberlite trend from the De Beers/Mountain Province Kennady Lake cluster. Diamonds North and SouthernEra are currently planning a comprehensive exploration program on this highly prospective property in the coming field season. Regards Vaughn