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.

Strategies & Market Trends : Dino's Bar & Grill -- Ignore unavailable to you. Want to Upgrade?

To: Goose94 who wrote (15195)	1/22/2016 2:31:01 PM
From: Goose94	Read Replies (1) \| Respond to of 203020

Peregrine Diamonds (PGD-T) Jan 22, '16 is pleased to report that it has settled its litigation with BHP Billiton Canada Inc relating to the Chidliak Royalty. The dispute arose in May, 2015 in regards to BHPB's transfer of the Chidliak Royalty to South32 Limited. By a royalty agreement, dated February 2, 2012, Peregrine had granted BHPB a 2% Gross Over Riding Royalty on future mineral production, including diamond production, from its 100% owned Chidliak project. In consideration of Peregrine terminating its legal action against BHPB and a cash payment of $125,000, BHPB has agreed to terminate the Royalty Agreement and thereby cancel the Chidliak Royalty. Mr. Eric Friedland, Peregrine's Executive Chairman said, "The termination of the Chidliak Royalty is a very good outcome for Peregrine's shareholders and the Chidliak project. The project is now completely unencumbered, and the removal of this significant charge will have a substantial positive impact on any future diamond production at Chidliak. On behalf of the board and shareholders, I would like to take this opportunity to thank Tom Peregoodoff, Peregrine's President and CEO, for his diligence in determining the issues related to the Chidliak Royalty, managing the subsequent litigation and reaching a successful outcome." PEREGRINE DIAMONDS RIGHTS OFFERING Peregrine Diamonds wishes to remind right holders of the upcoming expiry of the Company's rights that were issued in accordance with the offering announced on November 19, 2015. Rights expire at 2 p.m. Pacific Standard Time (5 p.m. Eastern Standard Time) on January 26, 2016. For further information regarding exercising of rights please contact your financial advisor or broker. ABOUT PEREGRINE DIAMONDS Peregrine Diamonds is a TSX listed diamond exploration and development company with assets located in northern Canada and Botswana. The Company's core asset is its 100 percent-owned Chidliak project, located 120 kilometres from Iqaluit, the capital of Nunavut. An Inferred Mineral Resource of 8.57 million carats in 3.32 million tonnes of kimberlite at a grade of 2.58 carats per tonne has been defined for a portion of the CH-6 kimberlite. An independent diamond valuation by WWW International Diamond Consultants, of a 1,013 carat parcel of diamonds from CH-6 returned an average market price of US$213 per carat. A Target for Further Exploration ("TFFE") of 3.72 to 6.01 million tonnes to a depth of 290 metres has been defined at the CH-7 kimberlite, where a 2015 bulk sample returned a grade of 0.88 carats per tonne. A TFFE of 1.27 to 3.19 million tonnes to 250 metres depth has also been defined at the CH-44 kimberlite pipe. The TFFEs identified above are conceptual in nature and are not Mineral Resources. It is uncertain whether further exploration will result in any of these tonnages being delineated as Mineral Resources. In addition, Peregrine now controls eight prospective diamond prospecting licenses in Botswana that cover 574,600 hectares. The Company is actively exploration these licences. Peregrine Exploration, a wholly owned subsidiary of Peregrine Diamonds holds the 8,493 hectare Lac de Gras project in the Northwest Territories, located approximately 27 kilometres from the Diavik Diamond Mine. The nine hectare 72.1%-owned DO-27 kimberlite, located at Lac de Gras, hosts an Indicated Mineral Resource of 18.2 million carats of diamonds in 19.5 million tonnes of kimberlite at a grade of 0.94 carats per tonne and it is open at depth. Peregrine Exploration is also active in developing new diamond exploration plays in North America. For information on see the technical reports, "2015 Technical Report for the Chidliak Project, " dated February 23, 2015, and "Peregrine Diamonds Ltd. Lac de Gras Project Northwest Territories, Canada " dated July 15, 2014, both of which are available on SEDAR and the Company's website. Peregrine Diamonds Ltd. Mr. Eric Friedland Executive Chairman Peregrine Diamonds Ltd. Mr. Tom Peregoodoff President and CEO Peregrine Diamonds Ltd. Dr. Herman Grutter Vice President, Technical Services Peregrine Diamonds Investor Relations 604-408-8880 investorrelations@pdiam.com www.pdiam.com