Pangolin Receives Additional Prospecting Licences at the Malatswae Diamond Project, Botswana
- Malatswae Project increases in size from 1,058 km2 to 2,480 km2
- Prospecting licences granted for an initial three years
TORONTO, ONTARIO--(Marketwired - Apr 7, 2015) - Pangolin Diamonds Corp. (TSX VENTURE:PAN) (the "Company" or "Pangolin") is pleased to announce the grant by the Government of Botswana of three additional Prospecting Licences (or "PL") for precious stones (diamonds) at the Company's wholly-owned Malatswae Diamond Project located 90 kilometres southeast of the Orapa Diamond Mine.
The licences are as follows:
| Licence Number | Square Kilometres | Expiry Date | Year 1 Financial Commitment |
| PL083/2015 | 359 | 31 March 2018 | BWP 50,000 or approx. $C 6,500 per licence |
| PL086/2015 | 412 | ||
| PL529/2014 | 651 |
Work will begin shortly on a historical compilation of geological information, a geophysical interpretation of an existing airborne geophysical survey and a regional (1km x 1km) soil sampling program.
The three new PL's are contiguous to the north, east and south to the original PL100/2011 and PL247/2014 Licences, and link PL063/2011 to the north, now creating a single 2,480 km2 block.
Pangolin's exploration of PL247/2014 has recovered four diamond-positive soil samples as well as numerous kimberlite indicator minerals ("KIM"). Several clusters of the KIM's have features that suggest proximal source rocks such as kimberlites. Two areas; MSC and Modala Grids, are subject to intensified exploration including drilling. A map locating the three new PL's as well as Pangolin's other land holdings are available at the website (http://wp.me/P4A7nq-i, http://wp.me/P4A7nq-9).
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Contact
Pangolin Diamonds Corp.
Scott Young, Investor Relations
+1.705.888.2756
syoung@pangolindiamonds.com
Pangolin Diamonds Corp.
Graham C. Warren, Chief Financial Officer
+1.416.594.0473
+1.416.594.1630
gwarren@pangolindiamonds.com
