News Bureau

Optimistic Motloutse Project, Botswana

According to Pangolin Diamonds, a percussion drill programme was completed in August. The material of interest has been analyzed by laboratories in Canada who have confirmed no kimberlite(s) was intersected.  The results from the drilling allowed for the elimination of certain types of magnetic anomalies to be excluded from future exploration programmes providing for a more focused target selection.

The Company still remains optimistic about locating kimberlite in the Motloutse Diamond Project. A follow up ground programme including detailed soil sampling, gravity and ground magnetics is in progress in a continued effort to locate the sources of anomalous concentrations of positive kimberlite indicator minerals recovered at surface.

In addition, an exploration programme consisting of soil sampling and ground magnetic surveys was initiated to specifically follow up the known diamond occurrences within the Prospecting Licence area. Motloutse covers the area where the first diamonds in Botswana were recovered in 1959.

It also includes the location where De Beers discovered its first diamonds in Botswana in 1962. The kimberlite source(s) of these diamonds have never been located. The Company’s treasury is fully funded to complete this exploration programme.

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