Company Information for African Diamonds Plc

AIM-AFD

www.afdiamonds.com

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AIM; AFD

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Company Statement

African Diamonds Plc is a diamond exploration company listed on the London and Botswana Stock Exchange. The company has an exciting portfolio of projects based in Botswana and Congo.

The focus of activity is the African Diamonds/De Beers joint venture on 4,500sq km in the Orapa area of Botswana.

Current Operations

Boteti Joint Venture

Boteti Joint Venture formed 2004. The AK6 discovery was in October 2004
Share 49/51. AFD/ DB changing to 30/70 on completion of the first Bankable Feasibility Study (BFS).
De Beers pay 100 % of all costs until bankable feasibility thereafter each side pays its way.
All diamond production contracted to the Diamond Trading Company (DTC).
Mines with annual revenue of less than $70m will be operated by African Diamonds who will receive 70% of the gross profit. Diamonds still go to the DTC.

To date:

c.500 holes totalling c.50 kms have been drilled
1 significant economic discovery made
1 kimberlite is being evaluated
6 kimberlites are being bulk sampled
c.100 anomalies remain to be assessed

Ownership of the joint venture will initially be 49% African Diamonds and 51% De Beers with De Beers funding the joint venture through to bankable feasibility study. De Beers' shareholding will rise to 70% upon completion of the first bankable feasibility study. The size of any mine resulting from the joint venture will decide whether it is managed by De Beers or African Diamonds with larger mines operated by De Beers and those below an agreed threshold operated by African Diamonds, who will receive a preferential profit share in those operations of Newco.

AK6
AK6 is one of 30 known kimberlites which are part of the Boteti joint venture in which African Diamonds holds 49% and De Beers holds 51%.
The highlights of the first phase of advanced exploration were:

An average grade of 25 carats per 100 tonnes.
Estimated value per carat of US $138.
A kimberlite pipe size of approximately 10 hectares from drilling to date.
The Mineral Resource Management Department (MRM) of De Beers carried out a modelling exercise on these carats. The modelling involves the prediction of the assortment profile of AK6 goods; diamond assortment includes model (shape), quality and colour.

AK8
AK8 is one of 30 known kimberlites being explored by De Beers as part of the Boteti Exploration Joint Venture between African Diamonds and De Beers. Pipe AK8 is now estimated from ground geophysics at around 6 hectares in size. Fifty-four stones weighing a total of 6.33 carats including one 2.26-carat stone, were recovered from the 98 tonnes extracted from four holes in the kimberlite using 12-inch drilling. Two of the four holes were negative and two were positive for macrodiamonds. The negative holes drilled into significant intersections of basalt and basalt breccia, despite the fact that their adjacent pilot holes intersected kimberlite. Of the three positive holes, one sampled 154m of kimberlite, of which 80m was highly diluted (80%) by basalt breccia. One hole which sampled some 151m of consistent kimberlite yielded 4.395 carats from 26.44 tonnes of.sample.

SEROWE LICENCE
The Boteti Exploration joint venture holds four prospecting licences covering 2,483 square kilometers to the north-west of the regional centre of Serowe in central Botswana (Map 4). The original prospecting licence held by Kukama in this area, 3/2004, was in 2004 augmented by four additional licences, 8- and 9/2004, 49/2004 and 50/2004. All but 50/2004 are included in the Boteti joint venture with De Beers.

The project area is covered by geologically recent Kalahari sediments some 20-40 metres in thickness. These are underlain by upper Karoo basalts (~190Ma) and sandstones. The sandstone can be found where the basalt has thinned out or was removed by weathering, the latter process assisted by a complex system of block faulting during the late-Cretaceous (98-65mya) that resulted in uneven bedrock topography. The identification of these underlying formations has been facilitated by regional aeromagnetic surveys.

The company is pursuing programmes to explore this area for both kimberlite and alluvial diamond deposits.

Geographical Spread

Botswana

Congo

Board of Directors and Key Management

John Teeling

Executive Chairman

John Teeling has been involved in resources projects for 30 years. John is the founder and chairman of Pan Andean Resources PLC, Petrel Resources PLC, African Diamonds PLC and Persian Gold PLC. He is also a former director of Kenmare Resources Limited and Arcon Limited. John Teeling holds degrees in Economics and Business from University College Dublin, an MBA from Wharton and a Doctorate in Business Administration from Harvard. He holds interests in a number of industrial ventures.

James Campbell

Managing Director

James Campbell worked for De Beers for over 20-years, culminating in being General Manager responsible for resource delivery in the global exploration and mining group. During his career with De Beers he has also led small-scale mine development as well as being involved in corporate management and being Nicky Oppenheimer’s Personal Assistant. He holds a degree in Mining & Exploration Geology from the Royal School of Mines and an MBA with distinction from Durham University. James is a Fellow of the Institute of Mining, Metallurgy & Materials, Chartered Engineer (UK), Chartered Scientist (UK) and a Professional Natural Scientist (RSA).

James Finn

Non-Executive Director

James Finn is the senior financial executive of a group of resource companies since 1988. He holds a management degree and accounting qualifications. He is also a director of Cooley Distillery, Minco and Pan Andean Resources.

David Horgan

Non - Executive Director

David Horgan is a director of African Gold and Chief Executive of Pan Andean Resources and Petrel Resources. He holds a first class law degree from Cambridge and an MBA with distinction from the Harvard Business School. David Horgan has invested in and managed African projects for 10 years

Alex van Zyl

Executive Techincal Director

Alex van Zyl has over 40 years of experience in diamond exploration and mining. He worked as Consulting Geologist in Senior Management for Anglo American and De Beers Consolidated Mines Ltd over the past 15 years, during which period he was directly responsible for diamond exploration, evaluation and mining projects throughout the world.He is best known for his personal involvement in the discovery and development of the Venetia diamond mine in South Africa. Under his leadership De Beers discovered and evaluated numerous new kimberlites in Africa, Canada, Russia and various other parts of the world.

Company Address

162 Clontarf Road
Dublin, Ireland


Telephone:	353 1 8332833
Facsimile:	+353 1 8333505
Email:	info[at]afdiamonds.com
Website:	http://www.afdiamonds.com

Annual General Meeting

January

Year End

June 30

Nominated Brokers

Panmure Gordon

Nominated Advisors

Panmure Gordon

Broker/Analyst Reports

29/06/07 - Fox Davies Capital

Major Shareholders

Shareholders who hold more than 3%	Amount	% Holding
Chase Nominees Ltd	7,439,625	9.77
Firestone Diamonds PLC	4,879,215	6.41
De Beers	4,423,293	5.81
WB Nominees Limited	4,348,208	5.71
John Teeling	3,295,820	4.33
Nutraco Nominees Limited	3,186,125	4.18
James Finn	2,795,820	3.67
David Horgan	2,795,720	3.67
TD Waterhouse Nominees (Europe) Ltd	2,510,749	3.3
HSBC Global Custody Nominee (UK) 813259	2,386,480	3.13

Most Recent Statement

05/12/07 - Preliminary Results for Year Ended 30 June 2007
01/10/07 - APPLICATION FOR MINING LICENCE
04/09/07 - Appointment of CEO for Kukama
17/08/07 - Holding(s) in Company
15/08/07 - Holding(s) in Company
25/07/07 - Licence Awarded & Acquisition

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