November 23, 2007
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 firstname.lastname@example.org
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