March 14, 2013
Peregrine Diamonds Ltd. (“Peregrine” or “the Company”) (TSX:PGD) is
pleased to report that Mr. Peter Meredith has been elected to the Board
of Directors. Peregrine has also accepted the resignation of Mr. Rod
Davey from the position of Chief Operating Officer and Mr. Jonathan
Challis from the Board of Directors. Messrs. Davey and Challis will
continue as consultants to the Company.
Mr. Meredith served as the Chief Financial Officer of Ivanhoe Mines Ltd.
(now Turquoise Hill Resources Ltd.) from June, 1999 to November, 2001
and from May, 2004 to May, 2006, and as Deputy Chairman from May, 2006
to April, 2012. He also served as the Chief Executive Officer of
SouthGobi Resources Ltd. from June, 2007 to October, 2009. During his
tenure with the Ivanhoe Group of Companies (“Ivanhoe”) he participated
in raising more than US$4 Billion to advance the business interests of
various companies within the group. Prior to joining Ivanhoe, Mr.
Meredith spent 35 years with the accounting firm Deloitte & Touche
LLP where he was a Senior Partner. He has extensive experience in
regulatory compliance and corporate finance, with an emphasis on public
resource companies and is a member of the Canadian Institute of
Chartered Accountants. He has served on the Board of Directors of many
companies, including but not limited to, Turquoise Hill Resources Ltd.,
Great Canadian Gaming Corp., China Gold International Resources Corp
Ltd., SouthGobi Resources Ltd., Ivanhoe Energy Inc., Entree Gold Inc.,
Ivanhoe Australia Ltd., Asia Gold Corp., Besra Gold Inc. (formerly
Olympus Pacific Minerals Inc.) and Jinshan Gold Mines Inc.
Eric Friedland, CEO of the Company, stated “I have known Peter Meredith
for over 25 years and worked with him at Ivanhoe during this period.
Peter is a consummate professional with extensive international
financial and accounting experience and we are very fortunate to have
him join the Board.”
At the Company’s annual general meeting of shareholders held on March
14, 2013, the members of the Board of Directors were elected with the
following voting results:
|Votes in Favour
Rod Davey has held the position of Chief Operating Officer (“COO”) of
Peregrine since October, 2006. His extensive knowledge and expertise in
the area of diamond exploration and development in Canada has been an
invaluable asset to the Company. Mr. Davey has decided to retire and
Peregrine sincerely thanks him for his many years of service as COO and
we welcome his on-going advice as a consultant to the Company.
Jonathan Challis has decided not to stand for re-election as a director.
Mr. Challis served as a Peregrine Board member since June, 2003. The
Company would like to sincerely thank him for his significant
contributions to the growth of Peregrine and we will continue to rely on
his diamond expertise in his role as a consultant.
ABOUT PEREGRINE DIAMONDS
Peregrine Diamonds is a diamond exploration and development company
focused on Canada’s North. Peregrine has discovered two new diamond
districts in Nunavut, Nanuq in 2007 and Chidliak in 2008. At its 72
percent owned, nine hectare DO-27 kimberlite in the Northwest
Territories, located only 27 kilometres from the Diavik Diamond Mine, a
NI 43-101 compliant mineral resource of 18.2 million carats of diamonds
in 19.5 million tonnes of kimberlite at a grade of 0.94 carats per
tonne, which is open at depth, was confirmed in 2008. At its 100
percent-owned Chidliak project, located 120 kilometres from Iqaluit, the
capital of Nunavut, the Company has discovered 61 kimberlites to date,
and is preparing to collect the first bulk sample from the CH-6
kimberlite in 2013, currently one of seven kimberlites that exhibit
economic diamond mining potential. Peregrine also continues to evaluate
earlier stage diamond exploration projects it controls