Verissimo Diamond Project Update

Five Star Diamonds Limited (TSXV:STAR) (the “Company” or “Five Star Diamonds”) is very pleased to provide the following update on its 100% owned Verissimo Diamond Project (the “Verissimo Project” or “the Project”) in Goias State, Brazil.
As quoted in the press release:

Highlights

• The Verissimo Project was discovered in 2005.

• Five Star Diamonds has identified ten targets with two (V1 and V2) confirmed as kimberlitic pipes.

• The V1 and V2 kimberlite pipes have been bulk sampled by Five Star Diamonds with samples being processed through the Catalao project’s pilot plant.

• Bulk sampling has proven that the V1 kimberlite pipe is diamond bearing. Diamonds recovered at the V1 kimberlite pipe are white and are of high quality.

• A single diamond core drill hole was completed into each of the V1 and V2 kimberlite pipes. Samples are being collected and prepared for caustic fusion analysis and microdiamond count.

• Auger drilling and kimberlite indicator sampling programmes will commence in the coming months on kimberlite targets V3-V10.

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