TORONTO, ONTARIO – (Aug. 23, 2012) – Debut Diamonds Inc. (the “Company” or “Debut”), (CNSX: DDI), is very pleased to announce that it has concluded an Exploration Agreement with the Aroland First Nation (“Aroland”) in connection with the Company’s Nakina diamond exploration project located north of Nakina, Ontario.
The agreement includes benefits for the community of Aroland provided by way of Debut financial contributions in support of certain social and cultural programs, and also includes employment and service related business opportunities. In return, Aroland has approved and will continue to support the Company’s exploration activities for the duration of the project. The agreement provides for the proper handling and protection of any sacred or other culturally significant sites, and contains comprehensive plans for the prevention, mitigation and remediation of any environmental impacts which may result from the Company’s exploration activities in the field.
Chris Meraw, President of Debut Diamonds states, “Our agreement with Aroland emphasizes the need for mutual respect and a positive relationship between the parties during all phases of the project and while this approach not only brings economic opportunities to the community, it also provides an element of certainty for the company’s exploration work in the area.”
Additionally, Debut is pleased to announce that Martin Doyle has joined the Company’s Board of Directors. Martin was most recently the Senior Vice President, Exploration for De Beers Canada and held this role from 2005 to 2011. Having started his career with Anglo American in 1977, he has worked in many parts of the world for De Beers and Anglo American.
Beginning in diamond exploration in Botswana, Martin relocated to the De Beers Marine division and worked on the development of Namibia and South Africa marine deposits and later moved to South America where he brought his extensive marine experience to Anglo American’s Tierramar Marine Gold Project, and later continued diamond exploration for De Beers in South America. Martin graduated in 1977 with a BSc (Hons) Geology from the University Of Aberdeen, Scotland and with an MBA in 1987 from the University of Cape Town, South Africa. His appointment is subject to the approval of the Canadian National Stock Exchange (CNSX).
“Having an individual with the global knowledge and experience that Martin now brings to us, is a big boost to our team on the Board of Directors; especially at a time when the Company is aggressively resuming its exploration for diamond bearing kimberlite deposits in northern Ontario” said Chris Meraw, President of Debut Diamonds.
Canada Chrome Corporation (CCC”) – Rail Corridor Soil Sampling: The geotechnical soil profile samples recovered at 500 meter intervals along the entire length of the CCC railroad corridor claims (a distance of approximately 330 kilometres from the Ring of Fire area south to Nakina, Ontario) constitutes an unprecedented opportunity to search for mineral deposits along this transect of the Canadian Shield. CCC is a wholly owned subsidiary of KWG Resources Inc. (TSX VENTURE:KWG) and to facilitate that analysis CCC and Debut have an agreement under which Debut has been conducting mineral separation and analysis, of the entire suite of samples.
The Ontario Geological Survey is collaborating in examining the soil samples in order to construct from them a detailed profile and understanding of the glacial till depositions. Heavy minerals representing a variety of mineral deposit types have been identified. The indicator and heavy mineral separation phase of the project has concluded. All data received from laboratory geochemical analysis of the samples is being plotted, and subsequent to further analysis, a follow up program will be contemplated. Debut is the operator of the project.
About Nakina Project
Debut’s Nakina Project consists of 85 unpatented mining claims (comprised of 436 total claim units) located north of Nakina, in the James Bay Lowlands of northwestern Ontario. The Company has a 100% interest in 57 of those claims, and an option to earn a 70% operating interest in the additional 28 claims. The Nakina Project covers a cluster of distinct magnetic features that are interpreted to be potential kimberlite pipes as determined by analysis of airborne magnetic data generated in 2010 by the Ontario Geological Survey.
The first phase of drilling at Nakina represents an expenditure of $750,000 for exploration work within the traditional lands of Aroland First Nation. Each of the initial high priority targets has been surveyed for the existence of any archaeological or cultural values and permission to proceed with exploration work has been approved by Aroland. Debut is the operator of the project.
About Debut Diamonds Inc.
Debut has joint venture and wholly owned properties all of which are located in Northern Ontario; these include the previously discovered MacFadyen Kimberlites and the Pele, Victor West, and Uniform Surround claim blocks adjoining the De Beers’ Victor Mine. Located in the same region are the company’s Nakina Project, Wawa Project and Canada Chrome Soil Sampling joint venture. The Kyle Kimberlites and Diagnos Initiative are within and adjacent to the Ring of Fire.
Forward-Looking Statement
Certain of the statements made and information contained herein is considered “forward-looking information” within the meaning of applicable Canadian securities laws. These statements address future events and conditions and so involve inherent risks and uncertainties, as disclosed in Debut Diamonds periodic filings with Canadian securities regulators. Actual results could differ from those currently projected. Debut Diamonds does not assume the obligation to update any forward-looking statement.
Contact Information:
Debut Diamonds Inc.
Bruce Hodgman
VP Corporate Communications
(416) 642-3575