SASKATOON, Feb. 12, 2018 TSX:
DIAM
/CNW/ - Kenneth E. MacNeill,
President and CEO of Star Diamond Corporation (the
"Corporation") is pleased to confirm that the Corporation has
commenced trading on the Toronto Stock Exchange under this new name
and the new stock symbol "DIAM". The Corporation's website
domain is now www.stardiamondcorp.com.
The new corporate name, Star Diamond Corporation, is in honour
of the Star Kimberlite, located in the Fort à la Corne forest of
Saskatchewan, Canada. It was the
exploration and evaluation work completed on the Star Kimberlite
that demonstrated the significant quality, size and value of the
contained diamond populations. These high value diamonds
facilitated the consolidation and advancement of the Corporation's
Fort à la Corne area kimberlites, including the Star - Orion South
Diamond Project.
The name change does not affect the rights of the Corporation's
shareholders. No further action is required by existing
shareholders with respect to the name change, and certificates
representing common shares of Shore Gold Inc. will not need to be
surrendered or exchanged unless a transfer is being requested.
About Star Diamond Corporation
Star Diamond Corporation is a Canadian based corporation engaged
in the acquisition, exploration and development of mineral
properties. The Corporation's Star-Orion South Diamond Project is
located in central Saskatchewan
some 60 kilometres east of the city of Prince Albert. The
Project is in close proximity to established infrastructure,
including paved highways and the electrical power grid, which
provide significant advantages for future mine development. The
Technical Report on the Revised Resource Estimate for the Star -
Orion South Diamond Project dated November
9, 2015 provided an updated Mineral Resource Estimate for
the Star and Orion South kimberlite deposits: Indicated Mineral
Resources of 393 million tonnes containing 55.4 million carats of
diamonds at a weighted average price of US$210 per carat. In addition to the Indicated
Mineral Resource Estimate, the Star and Orion South Kimberlites
include Inferred Resources containing 11.5 million carats. During
2017, the Corporation granted Rio Tinto Exploration Canada
Inc.("RTEC") an option to earn up to a 60% interest in the
Corporation's Fort à la Corne mineral properties (including the
Star-Orion South Diamond Project) on the terms and conditions
contained in the Option Agreement (see News Release dated
June 23, 2017).
All technical information in this press release has been
prepared under the supervision of George
Read, Senior Vice-President of Exploration and Development,
Professional Geoscientist in the Provinces of Saskatchewan and British Columbia, and Mark Shimell, Project Manager, Professional
Geoscientist in the Province of Saskatchewan, who are the Company's "Qualified
Persons" under the definition of NI 43-101.
Caution Regarding Forward-Looking Statements
This news release contains forward-looking statements as defined
by certain securities laws, including the "safe harbour" provisions
of Canadian securities legislation and the United States Private
Securities Litigation Reform Act of 1995. Forward-looking
information is often, but not always, identified by the use of
words such as "anticipate", "believe", "expect", "plan", "intend",
"forecast", "target", "project", "guidance", "may", "will",
"should", "could", "estimate", "predict" or similar words
suggesting future outcomes or language suggesting an outlook. In
particular, statements regarding the Corporation's future
operations, future exploration and development activities or other
development plans constitute forward-looking statements. By their
nature, statements referring to mineral reserves, mineral resources
or TFFE constitute forward-looking statements.
Forward-looking statements in this press release include, but
are not limited to statements with respect to the Corporation and
RTEC's objectives for the ensuing year.
These forward-looking statements are based on the Corporation's
current beliefs as well as assumptions made by and information
currently available to it and involve inherent risks and
uncertainties, both general and specific.
Risks exist that forward-looking statements will not be achieved
due to a number of factors including, but not limited to,
developments in world diamond markets, changes in diamond prices,
risks relating to fluctuations in the Canadian dollar and other
currencies relative to the US dollar, changes in exploration,
development or mining plans due to exploration results and changing
budget priorities of the Corporation or its partners, the effects
of competition in the markets in which the Corporation operates,
the impact of changes in the laws and regulations regulating mining
exploration, development, closure, judicial or regulatory judgments
and legal proceedings, operational and infrastructure risks and the
additional risks described in the Corporation's most recently filed
Annual Information Form, annual and interim MD&A. The
Corporation's anticipation of and success in managing the foregoing
risks could cause actual results to differ materially from what is
anticipated in such forward-looking statements.
Although management considers the assumptions contained in
forward-looking statements to be reasonable based on information
currently available to it, those assumptions may prove to be
incorrect. When making decisions with respect to the Corporation,
investors and others should not place undue reliance on these
statements and should carefully consider the foregoing factors and
other uncertainties and potential events. Unless required by
applicable securities law, the Corporation does not undertake to
update any forward-looking statement that is made herein.
SOURCE Star Diamond Corporation