Peregrine Diamonds Ltd. Announces $3.0 Million Private Placement

November 23, 2007 PDF version
Vancouver, British Columbia, Canada - Friday, November 23, 2007 - Peregrine Diamonds Ltd. (TSX:PGD) (the “Corporation”, the “Company”) today announced that it intends to proceed with a non-brokered private placement of common shares for gross proceeds of $3.0 million. A total of 2,000,000 common shares at a price of $1.50 per share will be sold under the private placement on a “flow-through” basis pursuant to the Income Tax Act (Canada).

A finder’s fee of 5% in cash will be paid on a portion of the private placement. Proceeds from the private placement will be used for the Corporation’s mineral exploration projects in Canada.

Peregrine is a Canadian diamond exploration/development company that is managed by experienced geoscientists. The Company completed a third bulk sampling program on its WO Diamond Project, NT, has announced the discovery of three new diamondiferous kimberlite pipes on its wholly owned Nanuq property in Nunavut, and is exploring for other diamondiferous kimberlites on its extensive land holdings in Canada. The Company trades on the Toronto Stock Exchange under the symbol “PGD”.

For further information, please contact Jim Crawford, Manager — Investor Relations, at 604-408-8880 or at jim@pdiam.com.

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