Firestone results from MK1

Firestone Diamonds plc, the AIM-quoted diamond mining and exploration company, announces an update on evaluation work on the MK1 kimberlite at its Tsabong project in Botswana. The Tsabong kimberlite field contains 83 kimberlites, including the 180 hectare MK1 kimberlite, which is one of the largest diamondiferous kimberlites in the world.

Philip Kenny, CEO of Firestone Diamonds, said, this is a highly encouraging result from the first kimberlite to be evaluated by Firestone in the Tsabong field, particularly given the very large size of MK1. We have 83 kimberlites in our licence area and with 14 high interest kimberlites to be bulk sampled in 2008 and bulk sampling expected to commence in March, we believe that the prospects for a significant economic discovery are good.

The size frequency distribution of the microdiamonds recovered has been analysed by an independent consultant, Mr. Tinus Oosterveld, in order to provide an indication of potential grade. Mr. Oosterveld was instrumental in establishing the principles of grade estimation based on microdiamond size frequency distribution during his 30 years at De Beers, and is considered to be one of the leading experts in the field.

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