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News Releases

 July 30, 2007
Search for Two New Kimberlite Provinces Underway Eden Point Project, Nunavut

 

Pure Diamonds Exploration Inc. ("Pure Diamonds" or the "Company") is pleased to provide this update of activities for the Eden Point Project, part of the High Arctic Joint Venture between the Company and De Beers Canada Inc. ("De Beers").

As previously reported, processing and analysis of samples collected in 2006 has resulted in the identification of two large areas within which Kimberlite Indicator Minerals (KIMs) were recovered.  One area is located on Cornwallis Island and the other covers the western portion of Devon Island.  Consequently the Eden Point Project has now been divided into two new project areas: Cornwallis Island and Cape Osborne on Devon Island.  The wide regional spacing of the 2006 sampling and subsequent recovery of numerous Kimberlite Indicator Minerals with diamond inclusion type chemistry (G-10) indicates the potential of multiple diamond bearing kimberlite sources within both the Cornwallis and Cape Osborne areas.  Both areas are equally prospective for the discovery of new kimberlite provinces.  

As execution of the 2007 program progressed, it became obvious that the quickest means to identify drilling targets requires focused exploration efforts on one of the target areas.  The decision has been made to conduct a more detailed program on Cornwallis Island, in part for the ease of access from Resolute Bay, and the recovery of more extensive KIMs within the Permit area.  

The 2007 exploration program on Cornwallis Island began in July and includes a 30,000 line kilometer low level high resolution airborne magnetic survey. The survey is being flown at 100 meter line spacing with mean terrain clearance of 20 meters.  In addition, first pass reconnaissance sampling will be conducted over the new permits that cover the north half of Cornwallis Island.  Follow-up sampling will be conducted to define the potential source of the KIMs and large sediment samples collected at the most anomalous 2006 sample sites.  

The 2007 exploration program on the Cape Osborne Project, Devon Island will focus on follow‑up sampling and prospecting areas where KIMs were recovered from the 2006 regional sampling program.  Again, follow-up samples will be collected to better define the potential source of the Indicator Minerals and large sediment samples of the anomalous sites will be collected.  

The Cornwallis program is designed to accelerate the target identification process through the use of low level, close spaced magnetic surveys, satellite and air photo interpretation and more detailed sampling and prospecting.  Once targets are identified the Joint Venture plans to move as quickly as possible to drilling the selected targets.  It is hoped that some drilling can be completed this year.   Donald R. Boucher, Professional Geologist and De Beers' Technical Manager, Joint Venture Projects, is the Qualified Person pursuant to National Instrument 43-101 and has reviewed the contents of this news release.

Pursuant to the Agreement announced May 17, 2006 between De Beers and the Company, the Company has the right to earn up to an 85% working interest in six projects in Nunavut, which includes the Cornwallis and Cape Osborne Projects.

For further information, please contact:

Gordon Keevil -- President

(604) 687-2038 or visit our website at www.pure-diamonds.ca

This news release does not constitute an offer to sell or a solicitation of an offer to sell any of securities in the United States.  The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act") or any state securities laws and may not be offered or sold within the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.

This release includes certain statements that may be deemed to be "forward-looking statements" within the meaning of the U.S. Private Securities Litigation Reform Act of 1995. All statements in this release, other than statements of historical facts, that address future production, reserve potential, exploration and development activities and events or developments that the Company expects, are forward‑looking statements. Although management believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance, and actual results or developments may differ materially from those in the forward-looking statements. Factors that could cause actual results to differ materially from those in forward-looking statements include market prices, exploration and development successes, continued availability of capital and financing, and general economic, market or business conditions.  Please see our public filings at www.sedar.com for further information.

 
 

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