Diamonds recovered - Angola

Petra Diamonds Ld
08 September 2004

8 September 2004

                                                                

                             Petra Diamonds Limited

     Recovery of Diamonds from Alto Cuilo - 9.61 Carat White Diamond Found


Petra Diamonds Limited ('Petra' or 'the Company'), the AIM quoted diamond mining
group, is pleased to announce that a significant number of gem quality diamonds
have been recovered from the Alto Cuilo project in North Eastern Angola.


Petra has processed an initial forty tonne sample from target AC2, with the
following results:


  • 23 macro diamonds greater than 1mm were recovered, giving a total weight
    of 18.7 carats


  • This included a white gem quality octahedron stone of 9.61 carats


  • The grade of the sample, including the 9.61 carat stone above, is 47
    carats per hundred tonnes, with an average stone size of 0.81 carats.
    Excluding the 9.61 carat stone, the grade is 23 carats per hundred tonnes
    with an average stone size of 0.40 carats.


  • The diamonds recovered are mainly white in colour and of high quality


This sample was processed by the Company, under well documented and managed
conditions, using a Bushman jig unit pending the commissioning of the sixty five
tonne per hour DMS (Dense Media Separation) plant in October. This jig treatment
method will not have recovered all of the smaller diamonds and therefore the
grade from this sample could be expected to improve further if treated in the
DMS when the plant is commissioned.


Adonis Pouroulis, Executive Chairman of Petra, comments, 'The grade and quality
of these initial results are very promising and although the sample is small,
this is an indication of the quality stones and grades we are hopeful will come
when we commission the DMS plant.  It is a very exciting time for Petra as we
work with our partners, Endiama and Moyoweno, on developing this major project
in Angola.'


Project update

Since the Company's announcement of 2 August, diamond core drilling has
continued at four sites. All four sites intersected kimberlitic material, with
two holes drilling 71 and 152 metres respectively of kimberlitic deposit.


Core samples from site have been analysed by an independent expert from Rhodes
University, South Africa and confirm that the samples are of kimberlitic nature.


Ground geophysics work was carried out in August to determine the geometry of
deposits in the kimberlite and alluvial complex. Thirty four kilometres of
resistivity lines were run as well as 284 geophysical soundings taken. The data
has been sent to independent experts in South Africa for interpretation and will
be processed in September; initial results are very encouraging.


The MB100 (DMS feed) has been commissioned. Diamond bearing material is being
treated by the MB100 and stockpiled in preparation of the commissioning of the
DMS plant in October.


 Ends


For further information, please contact:


Adonis Pouroulis / David Abery        Justine Howarth / Cathy Malins              Frank H. Moxon
Petra Diamonds                        Parkgreen Communications                    Williams de Broe Plc
Tel: [phone]                  Tel: [phone]                       Tel: [phone]





                      This information is provided by RNS
            The company news service from the London Stock Exchange