TIDMFDI 
 
RNS Number : 4317E 
Firestone Diamonds PLC 
21 December 2009 
 

Firestone Diamonds plc 
Botswana joint venture agreement signed 
 
 
LONDON:  21 December, 2009 
 
 
Firestone Diamonds plc, ("Firestone" or "the Company"), the AIM-quoted diamond 
mining and exploration company (ticker: AIM:FDI), is pleased to announce that it 
has entered into a joint venture agreement with Tawana Resources NL ("Tawana") 
over Tawana's kimberlite exploration and evaluation projects in Botswana, which 
includes 8 kimberlites in the Orapa kimberlite field. Under this agreement 
Firestone could earn up to an 85% interest in any kimberlites in the prospecting 
licences controlled by Tawana. 
 
 
 
 
HIGHLIGHTS 
 
 
  *  Firestone to acquire an interest in Tawana's kimberlite projects in Botswana 
    *  Firestone can earn 70% by carrying costs for first stage bulk sampling 
    *  Tawana has option to fund its remaining 30% interest from that point 
    *  Firestone could earn an additional 15% by carrying costs to mine development 
    decision if Tawana option is not exercised 
 
 
 
 
  *  Orapa prospecting licence 
 
  *  
    *  Contains 8 kimberlites and covers 57 square kilometres 
    *  Located close to Debswana's Damtshaa Mine 
    *  26 kilometres from Firestone's BK11 mine development project 
    *  Review of historical data due to be completed in January 2010 
 
 
 
 
  *  Francistown prospecting licences 
 
  *  
    *  Cover an area of 1,500 square kilometres 
    *  Located in the right geological setting for discovery of diamondiferous 
    kimberlites 
    *  Review of historical data due to be completed in Q1 2010 
 
 
 
 
Philip Kenny, CEO of Firestone Diamonds, commented:  "With production from our 
planned new mine at BK11 due to commence in Q2 2010, we will be able to use the 
infrastructure at BK11 to develop and exploit economic potential at other 
satellite kimberlites in the Orapa area quickly and at relatively low cost. We 
are excited about the potential of Tawana's kimberlites in the Orapa area, which 
bring the total number of kimberlites in Firestone's portfolio in the Orapa area 
to 15, and look forward to updating our shareholders about the results of our 
initial review of the project in early 2010." 
 
 
 
 
Orapa prospecting licence 
The Orapa prospecting licence covers an area of 57 square kilometres in the 
Orapa kimberlite field and contains a cluster of 8 kimberlites, BK19-26. The 
largest of these kimberlites, BK24, is located 2.5 kilometres from Debswana's 
Damtshaa Mine and 26 kilometres from Firestone's BK11 kimberlite, which is due 
to commence commercial production in Q2 2010. The Company has commenced a review 
of the historical data available from work carried out by Tawana and other 
operators on BK19-26. This review is expected to be completed in January 2010." 
 
 
Francistown prospecting licences 
The Francistown prospecting licences cover an area of 1,500 square kilometres 
close to the town of Francistown in eastern Botswana. Although no kimberlites 
have been discovered in this area before now, the prospecting licences are 
located in the right geological setting for the discovery of diamondiferous 
kimberlites. The Company has also commenced a review of the historical data 
available from work carried out by Tawana and other operators in this area. This 
review is expected to be completed in Q1 2010. 
 
 
Joint venture terms 
Firestone can earn a 70% interest in any kimberlite by financing all evaluation 
work on that kimberlite up to the completion a bulk sample of a minimum of 150 
tonnes from kimberlites less than 1 hectare in size, and of a minimum of 250 
tonnes from kimberlites greater than 1 hectare in size. Tawana will then have an 
option to fund its pro-rata share of all further work on that kimberlite. If 
Tawana is unwilling or unable to exercise this option, Firestone will be 
entitled to earn an additional 15% by financing all further evaluation work up 
to and including the making of a mine development decision on that kimberlite. 
The agreement is subject to the approval of the Minister of Minerals, Energy & 
Water Resources. 
 
 
For further information, visit the Company's web site or contact: 
 
 
+----------------------------------------+-------------------------------+ 
| Philip Kenny, Firestone Diamonds       | +44 20 8834 1028/+44 7831 324 | 
|                                        | 645                           | 
+----------------------------------------+-------------------------------+ 
| Simon Edwards / Tim Redfern, Evolution | +44 20 7071 4330 / 4312       | 
| Securities (Joint Broker)              |                               | 
|                                        |                               | 
+----------------------------------------+-------------------------------+ 
| Rory Scott, Mirabaud Securities (Joint | +44 20 7878 3360              | 
| Broker)                                |                               | 
|                                        |                               | 
+----------------------------------------+-------------------------------+ 
| Alexander Dewar, Brewin Dolphin        | +44 131 529 0276              | 
| (Nominated Adviser)                    |                               | 
|                                        |                               | 
+----------------------------------------+-------------------------------+ 
| Jos Simson / Leesa Peters, Conduit PR  | +44 20 7429 6603/+44 7899 870 | 
|                                        | 450                           | 
+----------------------------------------+-------------------------------+ 
 
 
Background information on Firestone Diamonds: 
Firestone Diamonds plc ("FDI.L") is an international diamond mining and 
exploration company with operations in Botswana and South Africa.  Botswana is 
the world's largest and lowest cost producer of diamonds, with annual production 
worth over $2.5 billion, and is considered to be one of the most prospective 
countries in the world to explore for diamonds. 
 
 
Firestone is the largest holder of mineral rights in Botswana's diamondiferous 
kimberlite fields, controlling over 25,000 square kilometres around the major 
Orapa and Jwaneng mines and the entire Tsabong kimberlite field. Firestone has 
95 kimberlites in its portfolio, of which 24 have been proven to be 
diamondiferous.  Fifteen of Firestone's kimberlites are at the bulk sampling 
stage. 
 
 
Notes: 
1. The information in this statement has been reviewed by Mr. Tim Wilkes, BSc, 
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 27 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 
   END 
 
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