DIAMOND EXPLORATION NEWS Third Kimberlite Found Near Victor Project

NORTHERN ONTARIO The hunt for diamonds in the James Bay Lowlands has yielded evidence of a third kimberlite near the proposed Victor diamond mine. The Victor project 100 km west of Attawapiskat is operated by DE BEERS CANADA EXPLORATION. Joint venture partners KWG RESOURCES and SPIDER RESOURCES hope their new discovery will be as promising.

The new kimberlite was intersected at a depth of 105 metres in a hole that tested a subtle, deep magnetic anomaly. The hole intersected 26.4 metres of kimberlite before exiting into Paleozoic calcareous mudstone and limestone, according to KWG. Maps and a fuller explanation of the property are posted at www.kwg-resources.com.

The Attawapiskat area remains a top priority for other diamond hunters as well. Charles Fipke, of Lac des Gras and Ekati mine fame, is leading a joint venture operated by KEL-EX VENTURES. Kel-Ex and partner BIG RED DIAMOND CORP., are interested in properties about 85 km west of the Victor project.