IMPACT BENEFIT AGREEMENT – Victor diamond mine covered

NORTHERN ONTARIO - The ATTAWAPISKAT FIRST NATION and DE BEERS CANADA have signed an impact benefit agreement for the Victor project, which will be Ontario's first diamond mine. The signing of this agreement follows ratification by the community last June, a unanimous vote in favour of the agreement by the Council of the Attawapiskat, and recent approval of the federal and provincial environmental assessments.

"De Beers is honoured to receive the support of the Attawapiskat First Nation through the signing of this historic agreement. It is with heartfelt satisfaction that I can say this agreement captures the commitments which have been made by the company and the community to work together," said Jeremy Wyeth, De Beers' VP of the Victor project.

The Victor project is located in the James Bay Lowlands, 90 km from the village of Attawapiskat. De Beers says it will begin construction of the $982-million mine early in 2006. (See also www.DeBeersCanada.com.)