DDI Debut Diamonds Inc

Debut Diamonds Inc. (CNSX:DDI) ("Debut") is pleased to announce the closing of a
purchase agreement (the "Purchase Agreement") with Keystone Associates Inc. (the
"Vendor") for the purchase by Debut from the Vendor of a 100% interest in 57
unpatented mining claims (the "Mining Claims") in the Porcupine Mining Division
and the Thunder Bay Mining Division of Thunder Bay, Ontario. 


The Mining Claims are located northeast and southwest of the company's Nakina
Project, where Debut has an option to earn a 70% operating interest in 28
unpatented mining claims located 125 km north of Nakina, in the James Bay
Lowlands. The claims cover a cluster of distinct magnetic features that are
interpreted to be potential kimberlite pipes as determined by analysis of
airborne magnetic data generated in 2010 by the Ontario Geological Survey.


Under the terms of the Purchase Agreement, Debut agreed to issue to the Vendor
2,680,000 common shares and the Vendor retained a 2% net smelter return royalty,
one half of which may be purchased by Debut for $3,000,000 for a period of 6
months after the claims are put into commercial production. 


"We are very pleased to have added these additional claims to our holdings at
Nakina and this will certainly improve Debut's potential for success in the
area. During the initial exploration phase we plan to recover at least one drill
core sample from each of the highest priority targets to determine if they are
kimberlites and diamondiferous" said Chris Meraw, President of Debut. "The
company expects to conclude its consultation obligations with affected First
Nations in the near future and looks forward to commencing the initial diamond
drill program as quickly as possible"


Debut's outstanding warrants are being re-priced effective July 24, 2012. The
exercise price to purchase a common share upon exercise of all outstanding
warrants will now be $0.07 per share. All other terms and conditions of the
outstanding warrants shall remain the same. Debut's board of directors has also
approved the cancellation of all outstanding Debut options subject to the
consent of the current option holders. 


About Debut Diamonds Inc. 

Debut has joint venture and wholly owned properties all of which are located in
Northern Ontario; these include the previously discovered MacFadyen Kimberlites
and the Pele, Victor West, and Uniform Surround claim blocks adjoining the De
Beers Victor Mine. Located in the same region are the company's Nakina Project,
Wawa Project and Canada Chrome Soil Sampling joint venture. The Kyle Kimberlites
and Diagnos Initiative are within and adjacent to the Ring of Fire.


Forward-Looking Statement

Certain of the statements made and information contained herein is considered
"forward-looking information" within the meaning of applicable Canadian
securities laws. These statements address future events and conditions and so
involve inherent risks and uncertainties, as disclosed in Debut Diamonds
periodic filings with Canadian securities regulators. Actual results could
differ from those currently projected. Debut Diamonds does not assume the
obligation to update any forward-looking statement.


For further information please visit the company's website at
www.DebutDiamonds.com.  


Shares issued and outstanding: 53,390,934

Debut Diamonds (CSE:DDI)
Historical Stock Chart
Von Mai 2024 bis Jun 2024

Debut Diamonds (CSE:DDI)
Historical Stock Chart
Von Jun 2023 bis Jun 2024