MOY Moydow Mines

RNS Number:1581Z
Moydow Mines International Inc
01 March 2006



FOR IMMEDIATE RELEASE                                              March 1, 2006


               Proposed Merger of Moydow Mines International Inc
                      and Diamond Fields International Ltd.


Moydow Mines International Inc. (TSX: MOY) (AIM: MOY) ("Moydow") announces that
Moydow and Diamond Fields International Ltd. (TSX: DFI) ("Diamond Fields") have
reached an agreement effective February 28, 2006 (the "Agreement") pursuant to
which Moydow security holders will exchange  their Moydow securities for
securities of Diamond Fields (the "Acquisition").  The Acquisition is
conditional on, among other things, the approval of the shareholders of Moydow.
Diamond Fields is engaged in mineral exploration and development worldwide.  The
information that follows concerning Diamond Fields is based upon information
provided by Diamond Fields.

Diamond Fields' principal assets consist of its Namibian marine diamond mining
project, and its exploration portfolio of diamond and gold properties.  Diamond
Fields' 71,600 hectare concessions offshore Namibia have been worked since the
summer of 2005 by Diamond Fields' own marine diamond mining vessel, the DF
Discoverer.  To date, 11,310 carats of diamonds have been recovered by the DF
Discoverer, and 9,494 carats have been sold, generating proceeds of
US$1,704,119, and the ship is currently working in the Diaz Reef, an area known
to host diamonds of larger average stone size than those recovered to date.

In Liberia, Diamond Fields is moving forward aggressively with its diamond and
gold exploration programs on its 1,813 square kilometre Grand Cape and Grand
Gedeh licenses.  Earlier this month Diamond Fields announced the discovery of
kimberlite at Grand Cape in an area forming a swampy depression suggesting the
structure of a pipe of about 3 kilometres in size, along with initial results of
its extensive grid sampling work including the Henry Town and Barteajam gold
prospects.

As a condition to the Acquisition, Moydow is required to complete a private
equity placement ("the Placing") to raise net proceeds of at least US$1.8
million.  More details of the intended financing will follow.  Upon completion
of the Placing and the satisfaction of all conditions and regulatory
requirements, Moydow shareholders will exchange all of their Moydow shares
including shares to be issued as part of the Placing for a total of 75,412,208
Diamond Fields shares, with warrants and options of Moydow being exchanged for
warrants and options of Diamond Fields in proportion to the share exchange.
Diamond Fields will acquire all of the issued shares of Moydow and the shares to
be issued pursuant to the Placing.  Diamond Fields currently has 113,118,312
outstanding common shares.  Upon completion of the proposed Acquisition Diamond
Fields will have 188,530,520 shares in issue of which Moydow shareholders
(including the shareholders pursuant to the Placing) will own 40%.

The Acquisition is subject to, among other things, receipt of all necessary
regulatory, court and stock exchange approvals, Moydow shareholder approval, a
valuation and/or fairness opinion by each company and lock-up agreements
executed by Noel and Brian Kiernan under which they will have agreed to vote in
favour of the merger and entry of the parties into a definitive agreement.  In
the event that the merger is not completed under certain circumstances, the
party who terminates the agreement will be required to pay to the other a break
fee of US$250,000.

Diamond Fields and Moydow have agreed that following completion of the
Acquisition, Diamond Fields' board will consist of three directors from Diamond
Fields' current board, three directors from Moydow's current board, and one
director agreed upon by directors of both companies.  It is the intention of the
parties that the President and Chief Executive Officer of Diamond Fields on
conclusion of the transaction will be Brian Kiernan, the current Chief Executive
Officer of Moydow.  It is expected that the following individuals from the
Moydow team will assume positions with Diamond Fields following completion of
the Acquisition.

Noel P. Kiernan - Chairman of Moydow.  Mr. Kiernan is a geologist with over 40
years of experience in the mining and oil industries, including 20 years mining
and exploration experience in West Africa and he is the Ghanaian Honourary
Consul to Ireland.  Mr. Kiernan was the original applicant for the property now
known as the Teberebie gold mine in Ghana and, as Managing Director of the
project, brought the mine through feasibility and into production.  With Moydow,
Mr. Kiernan has also been associated with the discovery of the Wassa mine and
the Ntotoroso deposits.

Brian P. Kiernan - President and CEO of Moydow.  Mr. Kiernan has been the
President and CEO of Moydow since 1998, and as such was part of the team
credited with the discovery of the Ntotoroso project ultimately sold to Newmont
for approximately US$ 40 million.  Mr. Kiernan is a graduate of the University
of Ulster, Dublin, Ireland, with a Bachelor of Arts (Hons.) in Business Studies.

J. Joseph Breen -  Chief Operating Officer of Moydow.  Mr. Breen is a geologist
with over 30 years of experience in base and precious metal exploration in North
and South America, Europe, Asia and Africa.  He has served as project geologist
and senior exploration geologist for major mining companies, including Noranda
and Phelps Dodge and was co-founder of a Calgary based junior mining company,
Goldquest, Inc.  He has been associated with major mineral discoveries including
the Mina Angela gold/silver deposit in southern Argentina, the Paracatu lead/
zinc mine in Brazil and the Wassa mine and Ntotoroso gold deposits in Ghana.

Moydow is an international exploration and development company.  It holds a 2%
royalty interest in the Ntotoroso property in Ghana which is payable after
production has resulted in 1.2 million gold equivalent ounces.  To date, Newmont
has published reserves of 2.4 million gold ounces on the property and is
planning to commence production later in 2006.  Moydow continues to explore for
gold in Ghana pursuing programs on its Hwidiem property which is adjacent to the
Ntotoroso property, its Kanyankaw property and its joint venture with PW
International on the Okumpreko project.  Moydow also retains an interest in
Newfoundland on its True Grit gold property.  In relation to diamonds, Moydow is
exploring in and operator of the 3000 square kilometre Dala kimberlite license
in the Saurimo area of Angola.  The property is bordered to the west and east by
the BHP/Petra Diamonds' Alto Cuilo and Muriege diamond properties, respectively,
and is 40 kilometres south of the Catoca Mine, the world's fourth largest
diamondiferous kimberlite pipe.  Moydow is also earning a 60% interest in the
Port Loko bauxite deposit in Sierra Leone, with the remaining interest owned by
a private company controlled by Mr. Jean-Raymond Boulle, a major shareholder of
Diamond Fields.  Recently, Moydow announced that work was near completion on a
feasibility study on the project.  More information on these projects can be
found in Moydow's press releases dated February 3, 2006 and January 3, 2006.

For further information, contact Brian Kiernan, President & Chief Executive
Officer at 011-353-667-7611.

Website: www.moydow.com


MOYDOW MINES INTERNATIONAL INC.

Brian Kiernan, President and Chief Executive Officer


Forward-Looking Statements:

Statements in this release that are forward-looking statements are subject to
various risks and uncertainties concerning the specific factors identified in
Moydow's periodic filings with Canadian Securities Regulators.  Such
forward-looking information represents management's best judgment based on
information currently available.  No forward-looking statement can be guaranteed
and actual future results may vary materially.  Moydow does not assume the
obligation to update any forward-looking statement.


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

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