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Gold/Mining/Energy : DIAMONDWORKS DMW.v -- Ignore unavailable to you. Want to Upgrade?

To: Wayne Rumball who wrote (90)	9/9/1998 12:42:00 PM
From: PHILLIP FLOTOW	Respond to of 413

Wayne and all, I just saw this news: DIAMONDWORKS RECEIVES MORE THAN US$300 A CARAT FROM LATEST PARCEL OF LUO DIAMONDS VANCOUVER, Sept. 9 /CNW/ - Bruce Walsham, President, CEO and Chairman of DiamondWorks Ltd., is pleased to report that the company received an average of US$313 a carat from last week's sale of diamonds mined at the Luo mine in Angola. The price represents the highest value received to date by DiamondWorks. The sale consisted of 5,300 carats produced from Luo and a further 6,700 carats from initial production at Yetwene, the company's second mine in Angola. The parcel sold for more than US$2.57 million, representing an average carat value of US$214. Sales of diamonds for the year to date have now reached US$10 million. Production at the new Yetwene mine is now averaging between 250 to 300 carats a day. Now that the plant is approaching its target production rate of 8,500 carats a month, DiamondWorks is investigating options to expand production at Yetwene by adding extra processing capacity. At the Luo mine, the company expects to begin stripping and processing of the alluvial gravels overlying the 28-hectare Camatchia kimberlite pipe within two weeks. This work is the first step in the large bulk sample the company plans to undertake to confirm the mining economics at Camatchia, one of the world's largest known diamond pipes. Mr. Walsham also announced that the company has initiated work at the company's Luarica project, about 20 km northeast of the town of Lucapa, northeastern Angola. An initial test parcel has been recovered from sampling of alluvial diamond deposits along the Chiumbe River. DiamondWorks' shares trade on the Toronto Stock Exchange under the symbol DMW. -30- For further information: Bill Trenaman, (604) 669-8871, website diamondworks.com PHIL

To: Wayne Rumball who wrote (90)	10/7/1998 10:21:00 AM
From: PHILLIP FLOTOW	Respond to of 413

News out today: DiamondWorks announces board change, financing VANCOUVER, Oct. 7 /CNW/ - Bruce Walsham, President, CEO and Chairman of DiamondWorks Ltd., announced today that Tony Buckingham has resigned from the Board of Directors of the company. Mr. Buckingham, in tendering his resignation, stated that he would continue to assist in the corporate development of DiamondWorks and has helped arrange a US$2 million loan for the company to be used at its Yetwene and Luo mines. He also stated that DiamondWorks had progressed quickly under the direction of the current board and management team, and it was now appropriate for him to spend more time on his other corporate interests, most notably Heritage Oil & Gas, an emerging African oil producer. Mr. Buckingham was a founding director of DiamondWorks, joining the board in October 1996 when DiamondWorks acquired 100% of Branch Energy Ltd., a company with diamond concessions in Angola and Sierra Leone. As a principal of Branch Energy Ltd. at the time of the acquisition, Mr. Buckingham agreed to sit on the DiamondWorks board until the company had established its diamond mining operations. ''Mr. Buckingham has played a key role in the company's growth into a consistent diamond producer,'' Mr. Walsham said. ''He has provided us with extensive knowledge and insight into operating in Africa and I am pleased that he has reaffirmed his continued commitment to the long-term development of DiamondWorks. We thank Tony for his hard work and support over the past two years and wish him all the best in his other endeavors.'' Mr. Buckingham retains voting control over approximately 25% of DiamondWorks shares, and will continue to assist DiamondWorks' management in pursuing new diamond opportunities in Africa. A nomination to replace Mr. Buckingham will be made shortly. The US$2 million loan will bear interest at US dollar commercial prime rate plus 3.5% per annum, and will be secured against DiamondWorks' interest in its Yetwene property and associated plant and equipment. The transaction is subject to regulatory approval. DiamondWorks is a global diamond mining company. In Angola, DiamondWorks is currently producing around 12,000 carats a month of high-quality alluvial diamonds from its Luo and Yetwene mines. A parcel of approximately 11,000 carats produced by the company in September is currently being valued in Luanda, Angola, prior to export to Antwerp for sale. The company is also developing the Camatchia and Camagico kimberlite diamond pipes in Angola and the Koidu pipe in Sierra Leone, and is evaluating the Kao pipe in Lesotho. DiamondWorks' shares trade on the Toronto Stock Exchange under the symbol DMW. -30- For further information: Bill Trenaman, (604) 669-8871, or view DiamondWorks' website at diamondworks.com PHIL

To: Wayne Rumball who wrote (90)	10/15/1998 1:50:00 PM
From: PHILLIP FLOTOW	Read Replies (1) \| Respond to of 413

Another story out today: DiamondWorks completes bridge and river diversion projects at Luo mine, Angola VANCOUVER, Oct. 15 /CNW/ - Bruce Walsham, Chairman, CEO and President of DiamondWorks Ltd., announced today that the company has completed the construction of a new bridge and river diversion at its Luo diamond mine in Angola. The bridge, prefabricated in Canada, has a 62-metre span and is one of the largest bridges to be erected across the Chicapa River. It has been designed to carry oretrucks weighing up to 90 tonnes from the Camatchia kimberlite pipe, located on the west side of the river, to the company's diamond recovery plant, on the east side of the river. The river diversion project involved building two 100-metre-long dykes and rerouting the Chicapa River under the new bridge and through a previously mined area along the eastern bank of the former river channel. The diversion exposes the southeastern portion of the Camatchia pipe and allows the company to begin mining some 700 metres of river channel, as well as alluvial gravels situated on the west side of the river. The alluvial deposits on the west side of the Chicapa are essentially intact, unlike the deposits on the east side which were substantially mined by previous owners before the Luo mine was acquired by DiamondWorks in 1996. Mining of the gravels overlying the Camatchia kimberlite is now underway. The company expects to begin collecting a bulk sample of approximately 100,000 tonnes of kimberlite later this year. The bulk sample will help determine the economics of mining the pipe. Camatchia, with a surface area of 28 hectares, is one of the world's largest, undeveloped diamond-bearing pipes. It has been extensively drilled by DiamondWorks and Diamang, a former mining consortium of De Beers and the Angolan Government. Based on Diamang's drill data, Watts Griffis & McOuat of Toronto has estimated that the pipe contains approximately three million carats in probable reserves to a depth of about 100 metres and an additional 10 million carats in inferred resources from 100 to 300 metres below surface. Further to the company's news release of October 7, 1998, the company wishes to advise that the amount of the loan has been increased from US$2.0 million to $2.67 million. All other terms remain the same. DiamondWorks' shares are listed on the Toronto Stock Exchange under the symbol DMW. -30- For further information: Bill Trenaman (604) 669-8871 or view DiamondWorks' website at diamondworks.com PHIL