Peregrine Diamonds Ltd.-- a diamond exploration and development company with a focus on Northern Canada--has discovered a third kimberlite this year in the Lac de Gras region of Canada, which is home to EKATI and Diavik diamond mines. The region is considered one of the most prolific diamond districts in the world. The LD-3 kimberlite is volcaniclastic and contains garnet, coarse olivine, and chrome.

The third kimberlite was discovered during Peregrine's winter drill program. Samples from the three kimberlites Peregrine discovered this year will be sent to laboratories for microdiamond testing.

"We drilled four targets and discovered three kimberlites, an excellent success rate for our world-class exploration team. The close proximity of these kimberlites to the Diavik Diamond Mine and to our DO-27 diamond deposit will be important if they are proven to have economic potential. For the balance of 2012, our exploration team will be focused on advancing our 100% owned Chidliak diamond project on Baffin Island," said Brooke Clements, President of Peregrine Ltd.


Peregrine's interests in the Lac de Gras region include 51,000 hectares of full company ownership and 32,200 hectares of claims in joint venture with Thelon Capital Ltd.


Marking another corporate highlight this year, Peregrine Diamonds recently won the 2012 Canadian North Murray Pyke Corporate Award at the Nunavut (Canada) Mining Symposium, for the company’s contributions to the economic and social development of the Nunavut region.