Acquisition

Petra Diamonds Ld
19 May 2003


Press Release

Embargoed: 7:00am, 19 May 2003




                   Acquisition of Platreef mineral properties


Petra Diamonds Limited ('Petra'), the Aim listed mining group, has acquired
mineral properties representing up to 6km of potential Platreef strike through a
100% owned subsidiary.

Petra has, for the past 18 months, sought to broaden its activities beyond its
existing focus on diamond exploration and mining.  The Group believes that the
fundamentals behind platinum are strong and, combined with the current
exploration opportunities in South Africa, will offer an exciting proposition to
shareholders.  This is in line with Petra's approach to developing its strategy
from its pure exploration beginnings to a broader based group that can focus on
the mining of precious metals and minerals, which will offset the high risk /
reward profile of pure exploration.

Platreef is one of the world's major hosts of platinum group metals and is a
significant carrier of anomalous copper and nickel sulphides. It is currently
the object of extensive exploration in the Northern Limb of the Bushveld Complex
in South Africa's Limpopo Province.

An exploration programme is currently being designed to confirm the potential of
the mineral property.  It will be carried out for Petra by MSA Projects (Pty)
Ltd.  Previous work on the property has demonstrated the presence of anomalous
copper and nickel value in geochemical soil samples collected at wide intervals.
The exploration programme under consideration will consist initially of
follow-up diamond drilling, after which a more comprehensive drilling programme
is envisaged.

Petra has applied for a prospecting permit for the properties.



- Ends -



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