BOTSWANA DIAMONDS PLC

M&A Activity • May 2, 2013

National Storage Mechanism | Additional information

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RNS Number : 8054D

Botswana Diamonds PLC

02 May 2013

02 May 2013

Botswana Diamonds plc ("Botswana Diamonds" or the "Company")

Extension of Agreement on 13 prospecting licences southwest of Orapa, Botswana

Botswana Diamonds plc (AIM:BOD) today announces that, further to its announcement of 5 February 2013, the Memorandum of Understanding with the private South African company which granted Botswana Diamonds a three month exclusivity period to review the available data on a licence area has been extended until 14 June 2013.  The counterparty holds an 85 per cent interest in the thirteen licence block located to the southwest of the Orapa region of Botswana. 

The board of Botswana Diamonds is pleased with the results of the Company's in-house evaluation. To confirm the findings Botswana Diamonds' joint venture partner in the Orapa area is, at the Company's request, applying its technology to the initial analyses. The joint venture partner expects to have results by the end of May 2013.

John Teeling, Chairman, commented: "We are very pleased that our partner, a private South African company, has extended the Memorandum of Understanding on the 13 licence blocks in the Gope region until mid-June. Our results so far are exciting but diamond exploration is high risk, so we have requested this extension to enable additional work be undertaken by the multinational partner working with us in Orapa. Our partner is using its unique technology to evaluate and corroborate our findings."

Enquiries:

Botswana Diamonds PLC

John Teeling, Chairman                                                 +353 1 833 2833

Robert Bouquet, Director                                             + 32 477 228851

Westhouse Securities Limited

Richard Baty                                                                       +44 (0)20 7601 6100

Keith Bayley Rogers & Co. Limited

Niall Pearson                                                                     +44 (0)20 3100 8139        

Hugh Oram                                                                         +44 (0)20 3100 8170

African Alliance Botswana Securities

Kabelo Mohohlo                                                              +267 364 3954

Oratile Leburu                                                                  +267 364 3977

Blythe Weigh Communications                                 +44 (0)20 7138 3204

Tim Blythe                                                                          +44 (0) 7816 924626

Paul Weigh                                                                         +44 (0) 7989 129658

Robert Kellner                                                                  +44 (0) 7800 554377

Pembroke Communications

David O'Siochain                                                             +353 1 649 6486

www.botswanadiamonds.co.uk

This information is provided by RNS

The company news service from the London Stock Exchange

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