Peregrine Diamonds Ltd. ("Peregrine" or "the Company") is primarily focused on diamond exploration and development in Canada. Since 2007, the Company has discovered two new Canadian diamond districts, Chidliak and Qilaq on southern Baffin Island and Nanuq in the eastern Arctic region. In addition, Peregrine has established an independent, NI 43-101 qualified, indicated mineral resource of 18.2 million carats in the DO-27 kimberlite in the Northwest Territories and has early stage exploration projects in the Northwest Territories, Nunavut and Manitoba. In its search for diamonds, the Company has a secondary focus on exploration for metals deposits.
Industry experts predict that without significant new discoveries in the coming years, the global demand for diamonds will soon outstrip supply. Through its quality diamond exploration projects throughout Canada and its 71.74 percent ownership interest in the DO-27 mineral resource, Peregrine is well positioned to contribute to the world's diamond supply in the future.