NEWS
RELEASE
PURE DIAMONDS EXPLORATION
INC.
1255 West
Pender Street, Vancouver, B.C. V6E
2V1
Tel.: (604) 687-2038 / Fax.: (604)
687-3141
January 9, 2008
TSX Symbol:PUG
$7 Million Program Planned
for Buffalo Hills Project, Alberta
Pure Diamonds Exploration
Inc. (???Pure Diamonds??? or the ???Company???) is pleased to provide this
update of activities for the Buffalo Hills Project (the ???Project???), northern Alberta. In 2008 Diamondex Resources Ltd. (???Diamondex???) and Shore Gold Inc.(???Shore???) will conduct a $7 million
exploration program, which will include the largest single drilling program ever
conducted on the Project.
Under this exploration
program, a 14,000 metre delineation drill program will focus mainly on the
central corridor of the Buffalo Hills Project. This program will commence in the north
at K91 and work progressively south to BH225, K14, K252, K6 and ultimately
K5. It is anticipated that the
drilling will begin in late January, and will take approximately 3 months to
complete.
The primary goal of the
program is to drill test the best kimberlite pipes discovered to date with
sufficient density to allow for the identification of the different kimberlite
phases present and characterize their key characteristics, including micro
Diamond content, to allow for the construction of accurate geologic models. This exploration program will provide
key information that will prioritize which pipes on the Buffalo Hills Project
should be bulk sampled during follow-up campaigns. Encore Coring & Drilling of
Calgary, Alberta will provide two Schramm 685 drills
capable of routinely recovering PQ sized drill cores. All drill cores will be logged and
analyzed at Shore???s facilities in Saskatchewan.
The Buffalo Hills Project
is the third largest known district of significantly Diamond bearing kimberlite
in Canada after Lac De Gras
in the Northwest Territories and Fort a la
Corne in Saskatchewan. Previous exploration on this Project by
Ashton Mining of Canada Inc., Encana Corporation and Pure Diamonds from
1997-2006, totaled $30 million, which resulted in the discovery of 38
kimberlites, 26 of which are diamondiferous. These kimberlites range in size from 1
to 47 hectares. Six mini bulk
samples were also carried out, with the largest bulk sample conducted at K14
where 479 tonnes were extracted yielding a grade of 12 cpht. A 22.8 tonne sample extracted from K252
yielded a grade of 55 cpht.
Diamondex and Shore
acquired Stornoway Diamonds Corporation's share of this project in July 2007 for
a total cash consideration of $17.5 million. Pursuant to the acquisition, Shore and
Diamondex each acquired a 22.5% interest in the Buffalo Hills Joint Venture, in
which Encana Corporation holds a 43% interest and Pure Diamonds Exploration Inc.
holds the remaining 12% interest. Diamondex and Shore can increase their
combined interest to 72.5% by spending $15 million prior to April 30, 2010. Diamondex is the Operator of the Buffalo
Hills Joint Venture with Diamondex and Shore each contributing 50% of the
exploration expenditures. David
Clarke, P.Geol., MSc., Senior Vice President of Exploration for Diamondex
Resources Ltd. is a Qualified Person as defined by National Instrument 43-101
and is responsible for program design and quality control of exploration undertaken by Diamondex Resources Ltd.
Pure Diamonds is very
pleased that the Buffalo Hills Project will again become a focus of exploration
in 2008 and will continue to be involved as a Joint Venture Partner as the
Project develops.
For further
information, please contact:
Gordon
Keevil ??? President
(604) 687-2038 or visit our website at
www.pure-diamonds.ca
This news release does not
constitute an offer to sell or a solicitation of an offer to sell any of securities in the United
States.
The securities have not been and will not be registered under the United
States Securities Act of 1933, as amended (the ???U.S. Securities Act???) or any
state securities laws and may not be offered or sold within the United States or
to U.S. Persons unless registered under the U.S. Securities Act and applicable
state securities laws or an exemption from such registration is
available.
This release includes
certain statements that may be deemed to be "forward-looking statements" within
the meaning of the U.S. Private Securities Litigation
Reform Act of 1995. All statements in this release, other than statements of
historical facts, that address future production, reserve potential, exploration
and development activities and events or developments that the Company
expects, are forward???looking statements. Although management believes the
expectations expressed in such forward-looking statements are based on
reasonable assumptions, such statements are not guarantees of future
performance, and actual results or developments may differ materially from those
in the forward-looking statements. Factors that could cause actual results to
differ materially from those in forward-looking statements include market
prices, exploration and development successes, continued availability of capital
and financing, and general economic, market or business conditions. Please
see our public filings at www.sedar.com for further information.