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North Star Diamonds, Inc. - Report to Shareholders
BELLINGHAM, WA, Feb 26, 2004 /PRNewswire-FirstCall via COMTEX/ -- North Star Diamonds, Inc. (NQB Pink Sheets: NSDM) is pleased to give an overview of the company to the shareholders.
Since beginning a diamond exploration program in Ukraine and in the Province of Manitoba in Canada, much progress has been made. Briefly, these are the accomplishments.
1. NSDM has assembled and still assembling a large land position on the
Superior Craton, which is the world's largest craton. Diamonds are
found in cratons.
2. NSDM, on the first drill program in Manitoba, Lamprophyre was
discovered. Diamonds are discovered in three types of rock:
lamprophyre, lamproite and kimberlite. This is believed to be the
first lamprophyre in Manitoba. This bodes well for the discovery of
diamonds in Manitoba.
3. NSDM using state of the art techniques available and has assembled
over 60,000 acres of land for future diamond exploration.
4. NSDM has been approved by the Government of Manitoba for the MEAP
(Mineral Exploration Assistance Program) which reimburses up to 25%
of the money spent for diamond exploration in Manitoba.
5. Based on the information gathered from the first drill program, a
second drill program is being undertaken. More information will be
given as soon as the dates and the program are finalized.
6. NSDM will be marketing diamonds through our website. These will be
diamonds under the North Star trademark, which have been mined and
cut in North America. Staff has been hired and the website will be
set up as part of our existing site.
7. NSDM has sent the first set of documents to the Securities and
Exchange Commission (SEC) for evaluation. This is with regard to the
share structure.
8. NSDM initially raised $500,000.00 to launch the company. A tranche
for $1,000,000.00 is being raised to finance the summer and fall
programs. The next two drill programs are fully financed.
9. The last results in Ukraine have been received. Four more micro
diamonds have been found in the last two holes. The program in
Ukraine is temporarily on hold as no winter drilling is carried out.
Plans are being made to drill several more holes in a new area which
has good geophysical characteristics. The area in which NSDM was
working produced many micro diamonds and we are prospecting for an
area which produces larger diamonds.
10. The press conference may be viewed as an attachment to our website.
This gives an overview of the company plans.
11. While we appreciate shareholders telephoning us for more information,
we have had problems by some of that information being more than
slightly altered and appearing on chat boards, this produces
confusion to the shareholders. In the future, we will closely adhere
to the information given in the press releases as the final
information.
For questions regarding information on Press Releases please feel free to contact Palma D'Andrea on our toll free number.
North Star Diamonds, Inc. is committed to a long-range plan for diamond exploration and feels that with the Superior Craton Project and the assets in Ukraine, North Star is focused on establishing the Company as a true world explorer in search for diamonds.
Disclaimer: The Company relies upon the safe Harbor Laws of 1993, 1934, and 1995 for all public news releases. Statements, which are not historical facts, are forward-looking statements. The Company, through its management, makes forward-looking public statements concerning its expected future operations, performance and other developments. Such forward-looking statements are necessarily estimates reflecting the Company's best judgment based upon current information and involve a number of risks and uncertainties, and there can be no assurance that other factors will not affect the accuracy of such forward-looking statements. It is impossible to identify all such factors. Factors which could cause actual results to differ materially from those estimated by the Company include, but are not limited to, government regulation, managing and maintaining growth, the effect of adverse publicity, litigation, competition and other factors which may be identified from time to time in the Company's public announcements.
CONTACT: Toll Free: 1-877-454-7872 or
Email: contact@northstardiamonds.net
Walter Stunder, President.
SOURCE North Star Diamonds, Inc.
CONTACT: Toll Free: 1-877-454-7872 or Email:
contact@northstardiamonds.net
(NSDM)
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