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:
On Behalf of Peregrine Diamonds Ltd.
Eric Friedland, President
On Behalf of Dunsmuir Ventures Ltd.
Art Ettlinger, President
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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