Five Star Diamonds Brazil Projects Update

Five Star Diamonds Limited (TSX VENTURE:STAR) (the “Company” or “Five Star Diamonds”) is very pleased to provide the following update on its activities at its 100% owned Brazilian Diamond Projects.

As quoted in the press release:

Highlights

  • Bulk sampling and jig processing at the Jaibaras Project has confirmed that four kimberlite pipes tested to date are diamondiferous with a total of six macro diamonds recovered.

  • Samples collected from the Jaibaras drilling program across the J1, J2 and J4 kimberlite pipes will be submitted for additional caustic fusion and microdiamond analysis in 2018.

  • Recent auger drilling completed at the Riachao Project has confirmed the presence of a 25ha kimberlite pipe at surface.

  • Stage-2 bulk sampling at the Riachao Project has been completed with seven samples being collected for caustic fusion and diamond analysis. Results are expected early in 2018.

  • A detailed ground magnetic survey has commenced at the extended Maravilha Project in Minas Gerais State. A program of bulk sampling will also commence across the M3 kimberlite pipe and other targets identified from the magnetic program.

  • Initial field work is currently planned at the Company’s 100% owned Bacuri Project, in Mato Grosso State, where previous work has identified a diamond bearing kimberlite pipe.

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