FDI Firestone Diamonds Plc

RNS Number:1390A
Firestone Diamonds PLC
25 June 2004

                             Firestone Diamonds plc

            Increases interest in Mopipi exploration project to 100%


LONDON:  25th June, 2004

Firestone Diamonds plc ("Firestone" or the "Company") today announces that it
has acquired the interests previously held by NM & BC Exploration Services ("
NMBC") in the Company's Mopipi exploration project in Botswana.

The Mopipi exploration project is located adjacent to De Beers' major Orapa and
Letlhakane diamond mines, and covers an area of approximately 3,200 square
kilometres.  Exploration in the Mopipi Central, North, South and West areas has
been carried out by Firestone in joint venture with NMBC over the past seven
years.  As NMBC was unable to finance its share of exploration costs incurred
and proposed by Firestone on behalf of the joint venture, it has relinquished
its interests in the project to Firestone.

The Minister of Minerals, Energy and Water Resources of Botswana has approved
the transfer of the Mopipi Central and Mopipi North prospecting licenses, which
were held by NMBC, to Firestone.  These prospecting licenses are expected to be
re-issued in Firestone's name shortly.  The Mopipi South and West prospecting
licenses are already held in Firestone's name.  As a result of this transfer,
Firestone now controls a 100% interest in the Mopipi project, and is the largest
holder of diamond exploration rights in the Mopipi and Orapa areas.

Firestone has carried out a substantial amount of exploration at Mopipi over the
past seven years.  This work included aerial photography and satellite imagery
interpretation, acquisition and interpretation of aeromagnetic, electromagnetic
and gravity data, extensive soil sampling and drilling.  Results of this work
strongly suggest good potential for the presence of a new kimberlite source in
the Mopipi area, and that the kimberlite source is likely to be diamondiferous.

Philip Kenny, CEO of Firestone Diamonds, commented today: "We are pleased that
we have been able to consolidate our interests in the Mopipi project, as this
will make it easier for us to introduce a new joint venture partner to the
project, which we expect to do very shortly.  Based on results from exploration
carried out to date, we continue to believe that there is very good potential
for the discovery of diamondiferous kimberlite in the Mopipi area."

Background information:

Mopipi, Botswana

Botswana is the world's largest producer of diamonds by value, with annual
production of over 20 million carats worth over $1.6 billion, accounting for
over 23% of worldwide production.  Botswana hosts De Beers' Orapa, Letlhakane
and Jwaneng mines and is considered to be the best country in the world to
explore for kimberlite - the primary source rock for diamonds.  Firestone's
Mopipi project is located adjacent to the Orapa and Letlhakane mines, which
produce approximately 13 million carats per annum, worth approximately $800
million.

Firestone Diamonds

Firestone is also active in the Namaqualand region of South Africa, one of the
most prolific alluvial diamond producing areas in the world, where the Company
operates the Avontuur and Oena mines, and where the Company's new Bonte Koe mine
is due to come into production shortly.  The Company has extensive exploration
properties in Namaqualand, including the Groen River Valley exploration project,
and is also engaged in kimberlite exploration in the United States.  Firestone
is quoted on the London Stock Exchange's Alternative Investment Market (AIM).

For further information:

Philip Kenny, Firestone Diamonds          +44 20 7370 6452/ +44 7831 324 645
Leesa Peters, Conduit PR                  +44 20 7936 9095/ +44 7812 159 885
Jamie Cumming, Bell Lawrie White          +44 141 314 8103/ +44 776 8044 620


Website: www.firestonediamonds.com


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