Dunsmuir Acquires Additional Claims at Lac de Gras

September 9, 2004
Dunsmuir Ventures Ltd. (“Dunsmuir”) is pleased to announce it has entered into an Option Agreement to acquire a 100% interest in 12 mineral claims comprising 12,541 hectares (30,990 acres) within the Lac de Gras diamond district. Under the terms of the agreement, signed with a private prospecting syndicate, Dunsmuir has the right to earn an undivided interest in the mineral claims by making $9,300 in cash payments and by issuing 152,210 common shares over a two year period. In a separate Amending Agreement with Thelon Ventures Ltd. (THV - TSX Venture Exchange), Dunsmuir has the option to apply exploration expenditures on these newly acquired claims to its earn-in commitments under Dunsmuir’s Letter of Intent with Thelon dated February 18, 2004. A royalty is payable to Thelon in exchange for this option.

The 12 mineral claims are located proximal to both Dunsmuir’s Lac de Gras East Project and to the WO Project held by Peregrine Diamonds Ltd, Archon Minerals Ltd., the DHK Syndicate, Aber Diamond Corp., and SouthernEra Diamonds Inc. On July 19, 2004 Dunsmuir and Peregrine announced the two companies were to merge. This merger will result in a significant combined land position in the new Peregrine Diamonds at Lac de Gras consisting of various options to earn between 54.475% to 100% ownership interests covering 117,523 hectares (290,399 acres). A 3,500 line-km high resolution airborne Mag-EM survey to be flown by Fugro Airborne Surveys will start shortly on the Lac de Gras East Project as will a 3,000 line-km Falcon(tm) survey at Pellatt Lake. Also at Lac de Gras, a 200-tonne bulk sample of the large DO-27 (Tli Kwi Cho) diamondiferous kimberlite pipe located on the WO Project is being planned for early 2005.

For further information about both companies please contact Eric Friedland at 604-408-8880 and Art Ettlinger at 604-681-6311 or visit each company’s web site at: www.peregrinediamonds.com and www.dunsmuirventures.com.


On Behalf of Peregrine Diamonds Ltd.
“Eric Friedland”
Eric Friedland, President
Email: eric@pdiam.com


On Behalf of Dunsmuir Ventures Ltd.
“Art Ettlinger”
Art Ettlinger, President
Email: aettlinger@dunsmuirventures.com

The TSX Venture Exchange has in no way passed upon the merits of the proposed transaction and has neither approved nor disapproved the contents of this press release.

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