Vaaldiam Mining Inc VAALF

RE: Vaaldiam to Expedite Brauna & Focus on Kimberl

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Vaaldiam spending $4 million on Braúna 3 Diamond Project in project

May 02, 2011

Canadiandiamond miner Vaaldiam Mining Inc is to spend $3.9 million, including a12 percent contingency, on the Braúna 3 Diamond Project (B3) at itsBraúna kimberlite diamond site in Bahia state in Brazil of as part ofits development plan for this year.

Vaaldiam aims tofocus on the kimberlite potential at Braúna, to raise the initial B3diamond resource and to speed up B3 to production. Vaaldiam said it has arange of investments that it can sell to fund the development plan.

"Weexpect a substantial return from this budget said Vaaldiam CEO RobertJackson. We need information for our feasibility study and we want tosubstantially increase our initial resource.

"We hadexcellent results at B3 from our surface bulk sample in 2010, findinggood grades and high quality diamonds. Now we will sink a shaft in thecentre of B3 to least 80 metres to test the vertical grade distributionand density, gathering enough fresh kimberlite to perform a second bulksample for our feasibility study.

"We also planapproximately 4,150 metres of delineation drilling at B3 and 1,350metres of drilling with thirteen holes delineating the Braúna 8 - Braúna21 kimberlite dike system to enhance our understanding of its potentialas economic extensions of B3. Our initial resource at B3 only considersthe top 200 metres of the deposit and we know it goes deeper. We arealso initiating our permitting process," he added.

https://www.antwerpfacetsonline.be/nc/articles/single/article/vaaldiam-spending-4-million-on-brauna-3-diamond-project-in-project/