Bulk Sampling Commenced

Petra Diamonds Ld
18 October 2006


                             Petra Diamonds Limited

            Bulk Sampling Commenced at Alto Cuilo Project in Angola



Petra Diamonds Limited ('Petra'), the AIM-quoted and ASX-listed diamond mining
group, is pleased to announce that bulk sampling has commenced at the Alto Cuilo
project ('Alto Cuilo') in Angola. This programme is being undertaken to generate
a better understanding of the kimberlite deposits as well as producing critical
data relating to grade and value per carat.


The large diameter drill rig ('LDD rig') has commenced operation and will
initially stockpile 200 tonne bulk samples from each selected kimberlite, to be
treated by the 10 tonne per hour Dense Media Separation ('DMS') plant which is
expected to be commissioned in November 2006. This lead time will enable the
exploration team to stockpile sufficient material to enable the DMS plant to go
directly to full capacity treatment of the samples when it is commissioned.
Priority targets have already been identified and ranked for LDD drilling
according to mineral chemistry, surface area and logistical considerations.
Initial results are expected by December 2006.


The LDD rig is a RB40 drill rig from Prakla Bohrtechnic in Germany and will be
drilling holes with a diameter of 43 centimetres (17 inches) to depths of up 350
metres.  The LDD rig is able to extract volumes of material large enough to
enable Petra to evaluate macro diamonds that may be contained therein, as well
as giving more accurate data relating to overall grade and carat value.


Johan Dippenaar, Petra's CEO, commented, 'The commencement of bulk sampling is a
significant step in the development of Alto Cuilo, following the extensive
exploration that has been carried out to date.  The bulk sampling programme is
important as the results will give us a much better idea of the potential
project economics.  Alto Cuilo is now at the advanced stage of exploration and,
working with our joint venture partner BHP Billiton, we continue to fast track
the development of this major project.'


To view first pictures of the drill rig in operation please go to
www.petradiamonds.com


 Ends


Notes

1. The information in this update that relates to Exploration Results, Mineral
Resources or Ore Reserves is based on information compiled by Jim Davidson, Pr.
Sci Nat (reg No 400031/06), who is a Member of the Geological Society of South
Africa, a 'Recognised Overseas Professional Organisation' ('ROPO'), included in
a list promulgated by the ASX from time to time. Jim Davidson is a full-time
employee of the Company and has sufficient experience which is relevant to the
style of mineralisation and type of deposit under consideration and to the
activity which he is undertaking to qualify as a Competent Person as defined in
the 2004 Edition of the 'Australasian Code for Reporting of Exploration Results,
Mineral Resources and Ore Reserves'. Jim Davidson has given his written consent
to the inclusion in this announcement of the matters based on his information in
the form and context in which it appears. Jim Davidson is the Qualified Person
for the purposes of the AIM Guidance Note on Mining, Oil and Gas Companies dated
March 2006



2. It should be noted that the potential quantity in this report is conceptual
in nature, there has been insufficient exploration to define a Mineral Resource
and it is uncertain if further exploration will result in the determination of a
Mineral Resource.




For further information, please contact:



Parkgreen Communications, London
Cathy Malins / Annabel Leather
Tel [phone]




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