Statement re SouthernEra land holdings in Congo
SouthernEra increases land holdings in the Democratic Republic of Congo
by 21% to total over 16,000 km2
Shares issued and outstanding: 159,428,601
TSX: SDM
AIM: SRE
TORONTO and LONDON, May 24 /CNW/ - SouthernEra Diamonds Inc. (TSX: SDM;
AIM: SRE) is pleased to announce today that the Company has expanded its land
position in the Democratic Republic of Congo ("DRC"). The Company has signed
an agreement with Nyumba Ya Akiba SPRL, a local Congolese company, acquiring
an immediate 74% undivided interest in eight exploration permits covering
2,744 km2 of diamond prospective ground in the Kabinda area, Kasai Oriental
Province. This key acquisition will bring the total land holdings that the
Company controls including the BHP Billiton joint venture to over 16,000 km2.
Commenting on the acquisition Alasdair MacPhee, President and CEO said
"The DRC will play an important role in the growth of SouthernEra. It is a
highly attractive diamond exploration target country as no systematic
exploration has taken place there in the past 40 years yet it continues to be
a high volume producer. Our agreement with Nyumba Ya Akiba strengthens our
position in the DRC and increases the probability of success".
SouthernEra's immediate plans on this new ground include the completion
of a detailed reconnaissance stream sampling program followed by an
aeromagnetic survey over anomalous areas with the aim of locating the
kimberlite sources to local alluvial diamonds.
Mustafa Rawji, the CEO of Nyumba Ya Akiba SPRL stated "SouthernEra's
extensive exploration program demonstrates their commitment to the DRC, and
provides Nyumba Ya Akiba with a strategic partner in exploring the highly
prospective Kabinda and Lubao districts". Nyumba Ya Akiba SPRL, holds
interests in gold and diamond properties in the DRC.
Regarded as the world's most prospective and largest new diamond
exploration opportunity, a "kimberlite emplacement corridor" extends from the
renowned diamond-producing Lunda Norte Province in neighboring Angola,
northeast into the DRC. In addition to these newly acquired interests, most of
SouthernEra's permits lie within this corridor which has yet to be fully
explored as only 11 kimberlites have been identified to date as opposed to
over 700 in the neighbouring Angolan section.
SouthernEra Diamonds is one of Canada's fully integrated diamond
companies with extensive kimberlite diamond exploration and alluvial programs
in the DRC as well as other countries including Canada, Gabon, Zimbabwe and
South Africa. The Company also holds the Klipspringer Diamond Mine in South
Africa and maintains an 18 percent free-carried interest in the Camafuca
Diamond Project in Angola.
Some statements contained in this news release are forward-looking and,
therefore, involve uncertainties or risks that could cause actual results to
differ materially. Such forward-looking statements include comments regarding
exploration work. Actual results could differ materially from those
anticipated. The Company disclaims any obligation to update forward-looking
statements.
For further information: SouthernEra Diamonds Inc.: Alasdair MacPhee,
President and CEO, or Sharon Allan, Investor Relations, Telephone:
(416) 359-9282, Fax: (416) 359-9141, E-mail: inbox(at)southernera.com,
www.southernera.com; London: 4C-Burvale, Carina Corbett, Director, Telephone:
++44 (0) 207-907-4761, Fax: ++44 (0) 207-907-4769, Email:
Corbett(at)4c-burvale.co.uk/
(SRE SDM.)
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