25th November, 2010 The Frankfurt Stock Exchange Dear Sir/Madam, GEMSTAR SHAREHOLDERS APPROVE SALE OF ITS INTEREST IN THE PALMIETFONTEIN PROJECT At the Gemstar Diamonds Limited (?GDL?) General Meeting of shareholders today, the sale of its interest in the Palmietfontein project was approved. This finalises the formal requirements and Central Kimberley Diamonds will now move at full pace in developing the Palmietfontein project, which will involve the economic assessment of the known Palmietfontein kimberlite, the fourth largest diamond-bearing kimberlite in South Africa; and the delineation of possible additional kimberlites on the property. The options that have now been granted to CKD will be exercised as soon as there is sufficient geological assessment. The shares approved for issue at the AGM last week will now be issued and it is intended that there will be regular updates on the progress of the ? Kind regards, Peter Rosenthal ? Non Executive Director & Chairman The information in this announcement that relates to exploration results and/or comments pertaining to resource assessment is the opinion of and compiled and presented by Mr. Ross Brown, Director of Central Kimberley Diamonds Ltd. Ross Brown is a Member of the Australian Institute of Mining and Metallurgy. He has sufficient experience, which is relevant to the style of mineralisation and types of deposits under consideration, and to the activity which has been undertaken, to qualify as a Competent Person as defined by the 2004 edition of the ?Australian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves?. Mr. Brown consents to the report being issued in the form and context in which it appears. For further and questions information please contact: Central Kimberley Diamonds Ltd. Peter Rosenthal Level 3, 105 St Georges Terrace Perth 6000, Australia Tel.: +61 8 9227 5455 info@centralkimberleydiamonds.com
|