VILLE MARIE
SUPERIOR DIAMONDS COMPLETES WINTER REVERSE CIRCULATION DRILL PROGRAM, VILLE MARIE DIAMOND PROJECT, QUEBEC
Superior Diamonds Inc. has completed its 2008 winter reverse circulation drill program on its Ville Marie diamond exploration property, Quebec. The purpose of this program was to better define possible kimberlite targets interpreted to exist at the heads of several kimberlite indicator mineral dispersal trains(1) associated with thicker areas of overburden. Twenty reverse circulation drill holes were completed.
Dr. Thomas Morris, president and chief executive officer of Superior, states: "Results from this program, when received, will be integrated with those derived from previous overburden sampling programs. The interpretation of the combined data set will more clearly define the source of several kimberlite indicator mineral dispersal trains identified from earlier work(1). Kimberlite indicator mineral assemblages and geochemistry derived from this work will prioritize targets for ground gravity surveys that are planned for the second quarter of 2008. A diamond drill program will be initiated during the later part of the third quarter or early part of the fourth quarter of 2008 (dependant on drill availability) which will focus on selected kimberlite targets."
Superior is also pleased to announce the successful completion of external, independent reviews of its exploration data management system and financial control systems. Maxwell GeoServices of Vancouver, B.C., audited Superior's database management system. No inconsistencies or irregularities were reported and the exploration data management system was deemed sufficient. Superior's internal controls over financial reporting were assessed for their adequacy in design, as required under National Instrument 52-109, on behalf of management by Quantum Advisory Partners LLP of Vancouver, B.C. From Quantum's review, Superior is able to conclude that it has designed internal controls over financial reporting to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with Canadian generally accepted accounting principles (GAAP).