October 13, 2004
Peregrine Diamonds Ltd. (the “Company”) is pleased to announce that it
has completed a 3,878 line kilometre Falcon(tm) Airborne Gravity
Gradiometer survey on the Pellatt Lake property (the “Property”).
Pellatt Lake is located approximately 40 km to the northeast of the
Ekati diamond mine at Lac de Gras and immediately adjacent to the Ekati
mine block and De Beers Hardy Lake leases. The property is the subject
of two option agreements dated May 23, 2003 between the Company and
Dentonia Resources Ltd., and the Company and DHK Diamonds Inc. DHK
Diamonds Inc. is a consortium consisting of Dentonia Resources Ltd.,
Horseshoe Gold Mining Inc. and Kettle River Resources Ltd. Under these
agreements, Peregrine has the option to earn up to a 75% interest in the
Property by completing a Falcon(tm) gravity gradiometer survey, paying
for all additional exploration and arranging financing to bring any
discovery into production.
At least one diamondiferous kimberlite is known to exist on the Pellatt
Lake Property. Analytical results from the Falcon(tm) survey will be
available later this year at which time they will be jointly analyzed
with existing geochemical and geophysical data to identify targets for
drilling in 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
On Behalf of Peregrine Diamonds
Eric Friedland, President
On Behalf of Dunsmuir Ventures
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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