Update On Winter Road And Bulk Sampling Program At DO-27

March 22, 2006 PDF version
March 22, 2006 - Vancouver, Canada - Peregrine Diamonds Ltd. (“Peregrine”) (TSX-V: PGD) has been notified by the Joint Venture Management Committee for the Tibbitt to Contwoyto Winter Road that the winter ice road servicing the mines and exploration projects north of Yellowknife, including the WO Diamond Project, has been closed indefinitely due to unseasonably warm weather and deteriorating ice conditions over the southern part of the road (see attached press release). While the return of cold weather may allow the road to reopen for certain critical loads, it is very likely the road may be closed for the season.

The Tibbitt to Contwoyto Winter Road opened on 8th February 2006 and was open for a period of 42 days in 2006 compared with a total of 70 days during the 2005 season.

As a result of careful logistical planning by Peregrine, the bulk sampling and diamond drilling program of the DO-27 kimberlite at the WO Diamond Project, NWT, Canada will continue for the duration of the winter/spring season. Peregrine has secured a number of Hercules flights operated by First Air which will allow the transport of sufficient fuel to allow for the continuation of drilling. Peregrine has maintained an ice thickness on the DO-27 lake which is in excess of 80 inches. Drilling is expected to continue until such time as this ice thickness deteriorates significantly.

Peregrine is a well funded Canadian diamond exploration/development company that is managed by experienced geoscientists. The company is taking the plus 9 hectare DO-27 diamondiferous kimberlite into pre-feasibility, and is exploring for other diamondiferous kimberlites on its extensive land holdings in Canada. The company trades on the TSX-V Exchange under the symbol “PGD”.

Peregrine Diamonds Ltd.

Eric Friedland, President and CEO
Alan Carter, COO

Investor Relations: Tel: (604) 408-8880 Facsimile: (604) 408-8881
Email: info@pdiam.com or Ronnie@pdiam.com Website: www.pdiam.com

Tibbitt To Contwoyto Winter Road Update

(Yellowknife, March 22, 2006) The Joint Venture Management Committee (the JVMC) for the Tibbitt to Contwoyto Winter Road Joint Venture has indefinitely suspended ice road operations. This decision has been made in consultation with EBA Engineering which provides ice engineering services and Nuna Logistics which constructs and operates the winter road for the JVMC.

This past winter has been unseasonably warm and despite many efforts to halt the thinning ice, the road is no longer able to safely support loaded trucks. Attempts to find alternate ice routes or methods to extend ice life have been examined but have not proven viable. Due to unsafe ice conditions, the JVMC recommends the public refrain from using the ice road.

The JVMC has notified the Federal Government and is notifying commercial third party users of the winter road suspension.

If the weather turns cold and ice conditions improve before March 25, the JVMC may consider reopening the road under such conditions as it determines are appropriate to operate the road in a safe and environmentally sound manner. However, the five day weather forecast is for continued unseasonably warm weather.

The Tibbitt to Contwoyto Winter Road is managed by a Joint Venture Management Committee currently comprising Diavik Diamond Mines Inc. and BHP Billiton Diamonds Inc. The JVMC is committed to constructing, operating and maintaining the winter road in a safe and environmentally responsible manner.

For more information on the status of the winter road, contact Tom Hoefer, Manager of External & Internal Affairs at Diavik Diamond Mines Inc., Tel: 867-669-6518.

Diavik Diamond Mines Inc., P.O. Box 2498, 5007 - 50th Avenue, Yellowknife, NT, X1A 2P8, 867-669-6500, fax 867-669-6575
BHP Billiton Diamonds Inc. 1102, 4920, 52nd Street, Yellowknife, NT X1A 3T1, 867-669-9292, fax 867-669-9293

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