| December 13, 2007 BRC Diamond Enhances Its Diamond Portfolio In The Democratic Republic Of Congo | |
| Toronto, Canada -- December 13, 2007 - BRC Diamond Corporation ("BRC" or the "Company") (TSX.V - "BRC") is pleased to announce that it has added another 58 exploration permits to its portfolio of diamond properties in the Democratic Republic of the Congo (the "DRC"). The Company now holds directly or controls through option agreements a total of 116 exploration permits (referred to as Permis de Researches ("PRs")) covering an area of 38,140.5 square kilometres ("km²") of highly prospective diamond bearing ground in the provinces of East and West Kasai and Bandudu in the south, Equateur and Oriental in the north, and Maniema in the central-east of the DRC. A map highlighting BRC's total PRs is found accompanying this press release on the Company's web site at http://www.brcdiamond.com/i/maps/December13-07-NR.jpg. Commenting on the acquisition of these PRs, Dr. Mike de Wit, President and C.E.O. of BRC, said: "The addition of these PRs, covering 18,521.5 km², to BRC's property portfolio further focuses and consolidates the Company's land position in some of the most promising diamond regions of the country. We look forward to extending our aggressive exploration program to these new areas in 2008." Title to two of the new PRs was awarded by the DRC's Mining Cadastral directly to the Company's wholly-owned DRC subsidiary, which brings the number of PRs wholly-owned by the Company to 27. These two new PRs, each covering 400 km², are situated in Bandundu province near isolated diamond workings along the Wamba River, and in Kasai East Province, north of four PRs controlled by the Company in the Sankuru district. The Company acquired control of the other 56 new PRs by way of option agreements. Three of these PRs, two covering 392 km² and one covering 351 km², are in the southern part of the Wamba drainage area in Bandundu Province. Two PRs are adjacent to an existing PR controlled by BRC along the Wamba drainage and another PR is in close proximity. Four of the new PRs acquired by way of option agreement (which cover 8.5 km², 77 km², 93 km² and 43 km²) are located in the Tshikapa district of Kasai West province, where BRC continues to consolidate its position. The Tshikapa area remains one of the most prospective areas in the DRC, with historical production of more than 60 million carats of good quality diamonds. No primary sources have yet been located despite the abundance of unabraded kimberlitic minerals present in many of the streams in the area. The Company has located several high interest magnetic targets on its properties around Tshikapa, which it intends to drill over the next three months. Six of the new PRs acquired by way of option agreement (with each PR covering 391 km²) are in Maniema Province directly north of BRC PRs in Lubao, where several geophysical targets have been identified for drilling. Twenty-seven of the new PRs are near Businga in the Province of Equateur and cover an area of 8,679 km² and the remaining 16 new PRs, covering 5,340 km² of ground, are close to the diamond producing area of Bafwasende in the Province of Orientale. The Company continues to evaluate its exploration results on an ongoing basis. It plans shortly to relinquish some PRs or parts of PRs which are no longer of interest to ensure that its property portfolio is focused on areas with the greatest potential. Dr. de Wit is the "qualified person" (as such term is defined in National Instrument 43-101), who supervised the preparation of and is responsible for the technical information in this press release. BRC is a Canadian-based diamond exploration company active principally in the DRC. Led by a management team with extensive experience in the DRC, the Company is active in some of the most prospective diamond regions of the country. Banro Corporation, the Company's largest shareholder with a 27.5% interest in BRC, is a mineral exploration company focused exclusively on the DRC. For further information, please contact Mike de Wit, President and C.E.O., Arnold T. Kondrat, Executive Vice President, or Martin D. Jones, Vice President, Corporate Development, at (416) 366-2221 or 1-800-714-7938. This press release contains forward-looking statements. All statements, other than statements of historical fact, that address activities, events or developments that the Company believes, expects or anticipates will or may occur in the future (including, without limitation, statements relating to exploration results, potential mineralization and the Company's plans with respect to the exploration of its DRC properties) are forward-looking statements. These forward-looking statements reflect the current expectations or beliefs of the Company based on information currently available to the Company. Forward-looking statements are subject to a number of risks and uncertainties that may cause the actual results of the Company to differ materially from those discussed in the forward-looking statements, and even if such actual results are realized or substantially realized, there can be no assurance that they will have the expected consequences to, or effects on the Company. Factors that could cause actual results or events to differ materially from current expectations include, among other things, the possibility that future exploration results will not be consistent with the Company's expectations, changes in equity markets, changes in diamond markets, foreign currency fluctuations, political developments in the DRC, changes to regulations affecting the Company's activities, uncertainties relating to the availability and costs of financing needed in the future, delays in obtaining or failure to obtain required project approvals, the uncertainties involved in interpreting geological data and the other risks involved in the diamond exploration business. Any forward-looking statement speaks only as of the date on which it is made and, except as may be required by applicable securities laws, the Company disclaims any intent or obligation to update any forward-looking statement, whether as a result of new information, future events or results or otherwise. Although the Company believes that the assumptions inherent in the forward-looking statements are reasonable, forward-looking statements are not guarantees of future performance and accordingly undue reliance should not be put on such statements due to the inherent uncertainty therein. The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this press release. | |
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