Firestone Diamonds provides preliminary results

The Board of Firestone Diamonds plc, the AIM-quoted diamond mining and exploration company, announces preliminary audited results for the year ended 30 June, 2007.

HIGHLIGHTS

Botswana

* Prospecting licences granted over the Tsabong kimberlite field and BK11 kimberlite

* 13 kimberlites discovered at Tsabong

* Number of kimberlites in license areas increased to 92; number of diamondiferous kimberlites increased to 23

* Bulk sample plant being commissioned, with 25-30 bulk samples to be taken in 2008

* New prospecting licences covering 4,000 square kilometres granted in Orapa and Jwaneng areas since year end

South Africa

* Full production reached at Bonte Koe toll treatment mining JV with De Beers

* Bonte Koe expected to produce £3.5m revenue and £2m operating profit in current financial year

Financial

* Turnover increased 173% to £1.6m (2006: £0.6m)

* Profit of £100k (2006: £200k loss)

* Profit of £2 million on disposal of interest in African Diamonds plc after the end of the financial year

Outlook

* Potential for significant economic kimberlite discovery in Botswana given high number of diamondiferous kimberlites in portfolio

* Further expansion at Bonte Koe being evaluated

* Pursuing new projects in Botswana

Philip Kenny, Chief Executive of Firestone, said ‘Botswana is the world’s largest and lowest cost producer of diamonds, and Firestone has assembled a dominant land position in Botswana’s diamondiferous kimberlite fields, containing 92 known kimberlites. With bulk sampling of our most prospective kimberlites to start in January and continue through the year, weexpect 2008 to be an exciting year and to make significant progress towards identifying the economic potential of our ground holdings.’

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