September 1, 2004
Peregrine Diamonds Ltd. is pleased to announce that it has closed a
500,000 share (net $1 million) non-brokered and non-flow through private
placement with BHP Billiton Diamonds Inc. as previously outlined in the
July 19, 2004 merger announcement between Peregrine and Dunsmuir.
Pursuant to the merger agreement, Peregrine and Dunsmuir have raised a
total of $5.36 million. The combined treasury of both companies today
is approximately $14 million.
The company intends to use these funds to continue its exploration programs in the Americas and for general working capital.
Further to the joint Peregrine-Dunsmuir news release of August 18, 2004
the $3.36 million flow through share financing consisted of flow-through
common shares and not special warrants as reported.
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 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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