FDI Firestone Diamonds Plc

RNS Number:0550B
Firestone Diamonds PLC
30 July 2007


                             Firestone Diamonds plc

                        BK11 Evaluation Programme Update


LONDON: 30 July 2007



Firestone Diamonds plc, ("Firestone" or "the Company"), the AIM-quoted diamond
mining and exploration company (ticker: AIM:FDI), today announces an update on
work at its BK11 kimberlite in Botswana.


HIGHLIGHTS


*    Ground gravity and ground magnetic surveys completed

*    Estimated size of kimberlite increased from 6.5 to 8.0 hectares

*    Core drilling under way

     *     Approximately 1,800m of drilling completed

     *     Geological modeling in progress

*    Bulk sampling results expected in Q4 2007

     *     100 tonne large diameter drill sample planned


In March 2007 Firestone's 80% owned Botswana subsidiary, Monak Venture (Pty)
Limited, was awarded a prospecting licence for the BK11 kimberlite. BK11 is
located approximately 20 kilometres south east of De Beers' Orapa Mine and 7
kilometres north west of De Beers' Letlhakane Mine. Previous work on BK11 has
produced grades of up to 16 carats per hundred tonnes. The Company commenced a
detailed evaluation programme on BK11 in April 2007.


Philip Kenny, CEO of Firestone Diamonds, commented: "We have made excellent
progress in the four months since being awarded the licence for BK11, which we
consider to be a very prospective kimberlite. We expect to continue to make
rapid progress with our evaluation programme, and look forward to results from
our first bulk sample, which are expected to be available in Q4 2007."


Ground Geophysics

High resolution ground gravity and magnetic surveys were conducted over BK11
during Q2 2007. Interpretation of data from these surveys indicates that the
surface area is likely to increase to 8 hectares, compared to the Company's
initial estimate of 6.5 hectares. This would significantly increase the
near-surface tonnage available on BK11. More detailed geophysical surveys,
delineation drilling and geological modelling will be required to confirm the
size estimate, and this work is currently under way.


Core drilling

Following the completion of geophysical surveys, a programme of 2,500 metres of
vertical and angled core drilling commenced. Core logging and geological
interpretation are being carried out by the Company's geological personnel and
reviewed by independent consultants. Approximately 1,800 metres of drilling have
been completed to date, and logging of these holes has shown that crater
sediments are present overlying the diatreme kimberlite, which provides further
evidence that the kimberlite is larger than originally estimated.


Samples of the core are being submitted for kimberlite indicator mineral ("KIM")
and petrographic analysis at Mineral Services' laboratories in Cape Town and for
microdiamond analysis at MSA laboratories in Johannesburg. Results from these
analyses will be combined with logging of the core holes to develop a detailed
3D geological model of the kimberlite.


Bulk Sampling

The Company plans to carry out large diameter drill ("LDD") bulk sampling on
BK11 in order to establish a representative grade for the kimberlite and to
recover sufficient macro diamonds to provide an estimate of the diamond value. A
specialised LDD rig which is capable of drilling 24 inch diameter holes to a
depth of 500 metres will be used. An initial 100 tonne LDD mini bulk sample will
be carried out, results of which are expected to be available in Q4 2007.
Subject to the results of this work, additional LDD sampling and resource
delineation work will be undertaken in 2008.


For further information:

Philip Kenny, Firestone Diamonds +44 20 8834 1028 / +44 7831 324 645

Leesa Peters/Jos Simson, Conduit PR +44 20 7429 6600 / +44 7812 159 885

Jamie Cumming, Bell Lawrie +44 141 314 8103 / +44 7768 044 620

Ken Fleming, Bell Lawrie +44 141 221 7733 / +44 7971 835 070


                           www.firestonediamonds.com


Background information on Firestone Diamonds:

Firestone Diamonds plc is an international diamond mining and exploration
company with operations in Botswana, the Namaqualand region of South Africa, and
the United States.


Firestone has extensive interests in Botswana, which is the world's largest
producer of diamonds, with annual production of approximately 30 million carats
worth over $2.5 billion. Botswana is considered to be one of the best countries
in the world to explore for kimberlite - the primary source rock for diamonds.
Firestone's Mopipi, Orapa and Jwaneng projects are located close to the major
Orapa and Jwaneng mines and are all being explored by De Beers in joint venture
with Firestone. Firestone is also exploring for kimberlite in the US on the
Laurentia craton, which extends into Canada, where it hosts a number of
diamondiferous kimberlite deposits.


Namaqualand, which is located on the west coast of South Africa, has been one of
the world's largest alluvial diamond producing regions for the past 60 years,
with total production to date estimated to be worth more than $3 billion.
Firestone's mining operations in Namaqualand include the Bonte Koe, Avontuur and
Oena Mines, all of which produce high quality alluvial diamonds, and a growing
portfolio of early stage and advanced exploration projects, of which the Groen
River Valley project, which is being explored by De Beers in joint venture with
Firestone, is the most advanced.


Firestone has a highly qualified management team with extensive experience in
the exploration, evaluation and development of diamond projects. Firestone is
quoted on the Alternative Investment Market (AIM) of the London Stock Exchange
and trades under the symbol FDI.L.


Note: The information in this statement has been reviewed by Mr. Tim Wilkes, B
Sc, Pr Sci Nat, who is a qualified person for the purposes of the AIM Guidance
Note for Mining, Oil and Gas Companies. Mr. Wilkes is Chief Operating Officer of
Firestone Diamonds plc and has over 25 years experience in diamond exploration,
mineral resource management and mining. Mr. Wilkes is a member of the
sub-committee for diamonds of the South African Mineral Resource Committee (
SAMREC).





                      This information is provided by RNS
            The company news service from the London Stock Exchange

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