Star Diamond Corp T.DIAM

Alternate Symbol(s): SHGDF

Metals & Mining Industrial Metals & Minerals

Star Diamond Corporation is a Canada-based company engaged in the acquisition, exploration and development of mineral properties. Its primary asset is its 100% interest in the Fort a la Corne property, which is located in central Saskatchewan. Its Fort a La Corne Diamond Project includes Star and Orion South Kimberlites. These kimberlites are in close proximity to established infrastructure, including paved highways and the electrical power grid. The Star-Orion South Diamond Project is located within the Fort a la Corne diamond district of central Saskatchewan, Canada. These Fort a la Corne mineral dispositions are located in the Fort a la Corne Provincial Forest, approximately 60 kilometers (km) east of Prince Albert, Saskatchewan. It also holds a 100% interest in the Buffalo Hills Diamond Project, located approximately 400 kilometers northwest of Edmonton, Alberta, Canada. The property covers a total of 21 mineral leases covering an area of approximately 4,800 hectares (ha).

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Star Diamond Corp

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Post by jeskon Jul 24, 2007 1:05pm

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Post# 13141102

SGF News - Buffalo Hills Acquisition

Diamondex and Shore Gold Complete Acquisition of Interest in Buffalo Hills Project for $17.5 Million 13:00 EDT Tuesday, July 24, 2007 VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - July 24, 2007) - Diamondex Resources Ltd. (TSX VENTURE:DSP) ("Diamondex") and Shore Gold Inc. (TSX:SGF) ("Shore") are pleased to announce that they have completed the acquisition of the interest of Ashton Diamonds (Canada) Inc. and Ashton Mining of Canada Inc. (collectively "Ashton") (now both wholly owned subsidiaries of Stornoway Diamond Corporation) in the Buffalo Hills Project located in north central Alberta for a total consideration of $17.5 Million (see April 26, 2007 news release). Under the agreement Shore paid $8.75 Million in cash and Diamondex paid $6.25 Million in cash and issued Ashton 6,031,363 of its common shares with a value of $2.5 Million which are subject to a four month hold trading restriction expiring on November 21, 2007. Pursuant to the acquisition, Diamondex and Shore each acquired a 22.5% interest in the Buffalo Hills Joint Venture, in which Encana Corporation holds a 43% interest and Pure Diamonds Exploration Inc. holds the remaining 12% interest. Diamondex and Shore have the option to increase their combined interest to 72.5% by funding the next $15 million of exploration expenditures before April 30, 2010. Diamondex has been appointed Operator of the Buffalo Hills Joint Venture. Following a review of all geological data by a technical team from Diamondex and Shore, an exploration program and budget will be announced. DIAMONDEX RESOURCES LTD. Randy C. Turner, President and CEO SHORE GOLD INC. Harvey J. Bay, COO and CFO FOR FURTHER INFORMATION PLEASE CONTACT: Diamondex Resources Ltd. Randy C. Turner President and CEO (604) 687-6644 Email: diamonds@diamondex.net Website: www.diamondex.net or Shore Gold Inc. Harvey J. Bay COO and CFO (306) 667-3503 Email: shoregold@shoregold.com Website: www.shoregold.com The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of the content of this news release. © Copyright CCNMatthews

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