Vancouver, BC (FSCwire) - Strike Diamond Corp. (TSX VENTURE:SRK)("Strike Diamond" or “the Corporation”) is pleased to announce that it has entered into a non-binding letter of intent to vend certain mineral claim interests held by Strike Diamond in the Pikoo diamond district to Winnipeg-based Wildcat Exploration Ltd. (“Wildcat Exploration”).

As consideration for the mineral tenure in the proposed transaction, Strike Diamond is expected to receive 3,500,000 common shares of Wildcat Exploration Ltd., which are anticipated to represent, at closing, approximately 19% of Wildcat Exploration’s outstanding equity prior to any financings by Wildcat Exploration. The letter of intent contemplates that Strike Diamond and Wildcat Exploration shall enter into a definitive agreement, subject to certain approvals, including approval by the TSX Venture Exchange, on or about May 31, 2015 or such other date as the parties agree.

“We are pleased to transact a portion of our district-scale property position to publicly-traded Wildcat Exploration. Their experienced team will focus on generating diamond exploration targets within that tenure parcel, which is adjacent to and down-ice of ground that Strike Diamond continues to hold. This transaction involves tenure that we have not yet explored and allows us to continue to focus our capital in the SC East and SC South areas of the Sask Craton Property where we recently announced encouraging till sampling results. Strike Diamond’s large scale tenure position affords us an opportunity to acquire these types of strategic equity stakes in exchange for portions of our mineral tenure, while retaining ground that we believe also has company-making potential. I would also add that we are pleased to see another experienced junior make a significant entry into the Pikoo diamond camp by way of a transaction with Strike Diamond,” stated Ryan Kalt, Chairman and Chief Executive Officer of Strike Diamond.  

The proposed transaction is being done concurrent with other transactions simultaneously announced by Wildcat Exploration; see Wildcat Exploration news release dated May 12, 2015.

The proposed property transaction between Strike Diamond and Wildcat Exploration involves the Corporation’s 80% working interest in eight mineral claims with a total size of 41,533 ha. A map of the property being vended may be found here:

http://www.strikediamond.com/s/WEL_Property_Transaction_Map.jpg            

As a result of the proposed transaction, Strike Diamond will have continued exposure to exploration upside on the tenure being vended through its ownership position in Wildcat Exploration, and concurrently adds an important equity position to the Corporation’s balance sheet.

Pikoo Partnership Opportunities

Strike Diamond has an active ongoing partner generation process and welcomes inquiries from other parties looking to secure entry into Canada’s newest diamond district. More details on our partnership opportunities may be found at: http://www.strikediamond.com/partners/

About Strike Diamond Corporation

Strike Diamond Corporation is the operator of an 80% interest in the Sask Craton Property which represents one of the largest publicly-traded mineral tenure positions in the emerging Pikoo diamond exploration district. For more information visit www.StrikeDiamond.com.

Forward-Looking Statements

This news release contains forward-looking statements. Forward-looking statements address future events and conditions and therefore, involve inherent risks and uncertainties. Actual results may differ materially from those currently expected or forecast in such statements.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Contact Information:

Ryan Kalt, M.B.A., LL.M.

Chief Executive Officer
1-403-410-3817
info@strikediamond.com
www.StrikeDiamond.com

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