Pangolin Recovers Diamonds From the Kimberlitic Magi Area, Tsabong North Project, Botswana - Seite 2

Drill hole Magi008 was recently completed and ten split-core samples of fine to medium grained chaotic to banded sandy tuff were selected for diamond recovery work. These samples are on route to CF Mineral Research Limited in Canada. The results are not expected for at least one to two months. Drill hole Magi-007 was just completed and will be logged and sampled as necessary. Planning is now underway to step-up the sampling and drilling program at Magi.

Mmadinare Diamond Project

Pangolin received a confirmation report of previously reported micro-diamonds recovered from soil samples at its 100% owned Mmadinare Diamond Project in north-east Botswana. The confirmation testing report of four grains from the Mmadinare project; two previously reported as micro-diamonds after mineral observation (Block 01 and Block 02) and two additional "possible" micro-diamonds (Block 01) did not pass diamond testing. The significant numbers of mineral indicators recovered from the same set of samples, primarily ilmenites, are being prepared for micro-probe analysis to characterize their potential diamond affinity. The Company remains confident that the indicator rich areas discovered to date and the presence of the SWS-21 intrusion containing mantle minerals with chemistry related to the diamond stability field are indicative of the area's diamond potential.

Diamond confirmation testing was carried out by CF Mineral Research Limited in Kelowna, Canada using an EDS spectrum test.

The first phase of follow-up soil sampling designed to expand on the discovery of numerous indicator minerals in two separate areas within the project is complete. The 148 samples will be processed by Pangolin in its DMS plant located in Francistown, Botswana. Mineral concentrates will then be observed by an independent agent with confirmation testing, if necessary, by CF Mineral Research Limited.

Malatswae Diamond Project

Pangolin Diamonds, in its wholly owned subsidiary Geocontracts Botswana (Pty) Limited, was issued in terms of Section 16 of the Mines and Minerals Act, a new Prospecting Licence (PL247/2014) for the exclusive right to prospect for Precious Stones within a 839 km² area of the Central District, Botswana.

Field work will begin shortly in accordance with the proposed work programme outlined in the PL application. The first year will involve soil sampling for indicator minerals on a one kilometre grid.

About the Tsabong North Diamond Project

The Tsabong North Project, located in southwestern Botswana, is 1,546.06 square kilometres in size. It is on the northern edge of the Tsabong Kimberlite Field known to contain 85 kimberlites. A number are diamond-bearing.