TSX: DIAM
SASKATOON, Feb. 3, 2020 /CNW/ - Star Diamond Corporation
(TSX: DIAM) ("Star Diamond"
or the "Corporation") is pleased to announce that
Lisa Riley has been appointed as an
independent member of the board of directors (the "Board")
of Star Diamond.
"Lisa has had significant success throughout her career and her
extensive experience advising mining companies and investors will
be invaluable to Star Diamond," said
Ewan D. Mason, Chairman of the
Board. "We are very pleased to have Lisa join our Board."
As previously disclosed, Star
Diamond received notice (the "Exercise Notice") in
November 2019 from Rio Tinto
Exploration Canada Inc. ("RTEC") advising that RTEC was
exercising all four of its options under the Option to Joint
Venture Agreement dated June 22,
2017. The Board has formed a Special Committee of
non-management directors (Ewan D.
Mason, Harvey J. Bay,
Lisa K. Riley and C. Michael Ryer) to review and consider the
Exercise Notice, including whether the options have been validly
exercised by RTEC, to oversee the Corporation's dealings with RTEC
including in relation to the Exercise Notice and to consider the
Corporation's alternatives in the context of the Exercise
Notice.
About Star Diamond Corporation
Star Diamond Corporation is a Canadian based corporation engaged
in the acquisition, exploration and development of mineral
properties. Shares of the Corporation trade on the TSX Exchange
under the trading symbol "DIAM". The Fort à la Corne kimberlites
(including the Star - Orion South Diamond Project) are located in
central Saskatchewan in close
proximity to established infrastructure, including paved highways
and the electrical power grid, which provide significant advantages
for future mine development.
Caution Regarding Forward-Looking Statements
This press release contains "forward-looking statements" and/or
"forward-looking information", within the meaning of applicable
Canadian securities legislation. All statements, other than
statements of historical fact, are forward-looking statements.
Generally, forward-looking statements can be identified by the use
of forward-looking terminology such as "plans", "expect", "is
expected", "in order to", "is focused on" (a future event),
"estimates", "intends", "anticipates", "believes" or variations of
such words and phrases or statements that certain actions, events
or results "may", "could", "would", or the negative connotation
thereof. Forward-looking statements included or implied in this
press release include the review and consideration by the Special
Committee of the Exercise Notice and statements relating thereto.
These forward-looking statements are based on the Corporation's
current beliefs as well as assumptions made by and information
currently available to the Corporation. Although management
considers these assumptions to be reasonable based on information
currently available to it, they may prove to be incorrect. By their
very nature, forward-looking statements involve inherent risks and
uncertainties, both general and specific, and risks exist that
predictions, forecasts, projections and other forward-looking
statements will not be achieved. We caution readers not to place
undue reliance on these statements as a number of important factors
could cause the actual results to differ materially from the
beliefs, plans, objectives, expectations, anticipations, estimates
and intentions expressed in such
forward-looking statements.
SOURCE Star Diamond Corporation