Press Release CorrectionCCNMATTHEWS
Big Red Diamond Corporation
November 13, 2006 - 10:20:37 AM
Big Red Diamond Corp. Clarifies Press Release Regarding the Acquisition of the
Strategis Property Next to Strateco's Matoush Project
MONTREAL, QUEBEC--(CCNMatthews - Nov. 13, 2006) - Big Red Diamond Corporation
(TSX VENTURE:DIA) announced on Friday the acquisition of the " Strategis"
property located within the Otish Mountain region of Quebec. This 4,628
hectares property is contiguous to the east to Strateco Resources' Matoush
project..
The arms length transaction calls for the issuance of Big Red Diamond Corp.
treasury shares and not Antoro shares as mistakenly stated in the press
release issued at 12.17 pm on Friday November 10, 2006. A second press release
correcting the first one was issued at 1:27 pm but was not carried by
Stockwatch and Stockhouse leading to some confusion among investors. The
Corporation apologizes for this mistake and the confusion it might have
created.
The Big Red Diamond transaction concerns a single separate property, made up
of 89 claims, that is contiguous to the east-north-east of Strateco's Matoush
property extension.
The property was acquired for its proximity to the Matoush discovery.
Furthermore the government airborne magnetic data suggests that the area is
underlain by the same geological features as the Matoush property. A complete
compilation of historical exploration data will be completed in the coming
weeks. The proximity to the Eastmain Mine also indicates that there could be a
potential for Gold and Base metals on the properties.
Mr. Francois Desrosiers, President of Big Red Diamond states that:
"The Company is actively exploring for uranium in 2 very interesting
environments: Mont-Laurier (Andy Lake), James Bay area (Maro). The Company
will soon be dispatching an exploration team to the Otish mountains to start
exploration on the Strategis project. The Management and the Board of
Directors are very happy with this newest addition and look forward to
completing exploration which should offer the potential of being crowned with
success since all the properties host known uranium occurences. We feel this
will handsomely add to our uranium portfolio."
The area surrounding the Strategis project was prospected for uranium during
the 70's and early 80's by Uranerz Mining and Exploration. During that
period numerous uranium occurrences were identified in the area.
The press release was reviewed by Benoit M Violette, geo., a qualified person
under the terms of National Policy 43-101.