Harry’s estimate for Diavik mine

Harry Winston Diamond Corporation made the following announcement regarding its 40% owned Diavik Diamond Mine.

Prior to the commencement of commercial production at the Diavik Diamond Mine the proven and probable ore reserves stood at 25.7 million tonnes (106.7 million carats). Subsequently, 4.0 million tonnes (11.7 million carats) of reserves in the A-21 kimberlite pipe were removed leaving start-up reserves of 21.7 million tonnes (95.0 million carats).

As of December 31, 2007, the reserves were 21.9 million tonnes (77.1 million carats) despite having mined 10.1 million tonnes (41.5 million carats) since commercial production began in August 2003. The increase in proven and probable ore reserve is largely a result of a new mine plan which confirms the economic value of the underground mining of ore that had previously been in the resource categories.

At start-up, the resources additional to the reserves were 11.7 million tonnes (31.4 million carats). As of December 31, 2007, they were 7.7 million tonnes (24.2 million carats). This revised resource statement does not include “geological” depth extensions of the kimberlite pipes identified by geophysical techniques, but not yet well enough defined to constitute resources. The bottom of the A-154 South kimberlite pipe has not yet been investigated in this manner because it would have required a disruption of current production to do so. This work is planned to be completed when full production shifts to the A-418 open pit next year.

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