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Gold/Mining/Energy : DIAMET/(BHP) TSE.DMM.B -- Ignore unavailable to you. Want to Upgrade?

To: Terence Mitchell who wrote (34)	9/14/1998 9:55:00 AM
From: PHILLIP FLOTOW	Read Replies (1) \| Respond to of 123

News release: Monday September 14, 9:31 am Eastern Time Dia Met announcement/issuer bid, update (Full text of press release from Canadian Corporate News) SEPTEMBER 14, 1998 Dia Met Normal Course Issuer Bid and Project Update KELOWNA, BRITISH COLUMBIA--Dia Met Minerals Ltd. announced today acceptance by The Toronto Stock Exchange of Dia Met's notice of intention to make a normal course issuer bid. This will allow Dia Met to purchase through the facilities of the TSE from time to time until September 15, 1999, as considered advisable, up to 150,000 (approximately 1.8 per cent) of its outstanding Class A Subordinate Voting shares and up to 350,000 (approximately 1.6 per cent) of its outstanding Class B Multiple Voting shares. Shares purchased will be held in treasury. Dia Met's board of directors believes that purchases by Dia Met of its shares pursuant to a normal course issuer bid is appropriate and in the best interests of Dia Met and that such purchases constitute a desirable use of funds for Dia Met. Dia Met is a publicly traded mineral exploration and development company with a primary focus on diamonds. The company holds a 29 per cent interest in the Ekati Diamond Mine, Canada's first commercial diamond mine, together with BHP Diamonds (51 per cent), Charles Fipke (10 per cent) and Stewart Blusson (10 per cent). The Ekati Diamond Mine is located 300 kilometres northeast of Yellowknife in Canada's Northwest Territories. Construction of the infrastructure and processing facilities is now substantially complete. Commissioning of the process plant commenced in early August and is proceeding satisfactorily. The project remains on time and on budget for production of diamonds in October 1998. The official mine opening ceremony will be held on October 14, 1998. Pre-stripping of the Panda pit is well advanced. Kimberlite ore is now exposed and some ore has been stockpiled at the primary crusher in preparation for process plant final commissioning. Recruitment of the permanent workforce is close to completion. Training of the workforce continues to meet expectations. All environmental and socio-economic commitments are being met or exceeded. Construction of the Sorting and Valuation Facility, located at the Yellowknife Airport, will commence in September and should be completed in the first quarter of 1999. Facilities and recruitment for the marketing office in Antwerp, Belgium, are well advanced. Discussions on appropriate marketing arrangements are progressing. This summer, the Pigeon kimberlite pipe was bulk sampled utilizing reverse circulation drilling. Twelve drill holes were completed for a total sampled kimberlite interval of 2,530 metres. Approximately 540 dry tonnes of kimberlite were collected and processed at the Koala dense media plant. Final processing and analysis of the sample is scheduled for September 1998. Exploration core drilling during the quarter intersected seven additional kimberlite pipes bringing the total number of confirmed kimberlite occurrences on the property to 107. Six of the seven discoveries are within the core zone claims. Microdiamond analyses are pending. Dia Met is also involved in diamond and gold exploration projects in other parts of the world. James E. Eccott, President, Dia Met Minerals Ltd. FOR FURTHER INFORMATION PLEASE CONTACT: Dia Met Minerals Ltd. Gerald Prosalendis Manager, Investor Relations and Corp. Communications (250) 861-8660 (250) 861-3649 (FAX) email: corporatdiamet.com website: www.diamet.com The American Stock Exchange and Toronto Stock Exchange have neither approved nor disapproved the information contained in this release. PHIL