=======================================================================
Re: News Release - Monday, July 07, 2008
Nordic Announces Option of Potash Permits on Saskatchewan-Alberta
Border
=======================================================================
Nordic Diamonds Ltd. (NDL:TSXV) ("Nordic") announces that it has signed
a option with Grizzly Diamonds Ltd. (GZD:TSXV) ("Grizzly") to acquire a
land position in southeast Alberta for potash. The Teddybear-2
Property (the "Property") totals 50,000 acres located 50 km northeast
of Medicine Hat, Alberta along the Saskatchewan border and is road
accessible year round.
Previous exploration for potash in this region of Alberta was completed
in the 1940-1950's. A large portion of the Property is located in
close proximity to areas reported to be underlain by potash bearing
beds within the uppermost portion of the Prairie Evaporite Formation.
The presence of potash beds within the upper portion of the Prairie
Evaporite in east-central Alberta near and along the Saskatchewan
border is indicated by geological maps produced by the Alberta and
Saskatchewan governments. This under explored area of Alberta is
currently becoming very active for potash exploration.
In addition, the Property is located south of a reported occurrence of
potash minerals in a deep well (VCO #15) in the Vermilion area of
east-central Alberta. The author reporting the occurrence suggests
that the potash mineral "sylvite exists in substantial quantities"
"throughout the first 50 feet of the Prairie Evaporite" (Golden, B.Sc.,
1965) and that the potash minerals "are of the same composition and
depositional sequence and depth as the potash at Unity and Saskatoon,
Saskatchewan", currently the location of a number of potash mines. The
reported occurrence of potash minerals is at a depth of approximately
1,061 m below surface.
Under the terms of the agreement with Grizzly, Nordic can earn into an
initial undivided 51% on the following terms:
.. $25,000 cash on signing
.. 200,000 common shares of Nordic upon regulatory approval
.. incurring a total of $2,000,000 of exploration expenditures
before September 1, 2009 including one drill hole to test the Prairie
Evaporite Horizon.
Nordic can elect to increase its interest in the Property to an
undivided 70% interest by carrying Grizzly to a pre-feasibility study
on or before September 1, 2011.
Nordic has initiated a detailed compilation with Grizzly of all
historic exploration, including oil and gas drilling, and seismic data
for the permits leading to a National Instrument 43-101 ("NI 43-101")
technical report. All field programs are being conducted under the
supervision of Michael Dufresne, P. Geol., a principal of APEX
Geoscience Ltd. ("APEX") and a Qualified Person under NI 43-101.
This news release and the information contained herein has been
reviewed by Michael Dufresne, P. Geol., a principal of APEX Geoscience
Ltd. and a Qualified Person under NI 43-101.
For complete details of this news release and other projects, please
visit the Company's website at www.nordicdiamonds.com or call the
Company's representatives at:
Telephone: 604-718-5454
Facsimile: 604-646-2054
Email: info@nordicdiamonds.com
ON BEHALF OF THE BOARD OF DIRECTORS
NORDIC DIAMONDS LTD.
Alvin Jackson, P.Geo
Chairman and CEO
The TSX Venture Exchange has not reviewed and does not accept
responsibility for the adequacy or accuracy of this news release.
Certain information presented in this release may constitute
"forward-looking statements" within the meaning of the US Private
Securities Litigation Reform Act of 1995. Such forward-looking
statements are based on numerous assumptions, and involve known and
unknown risks, uncertainties and other factors, including risks
inherent in mineral exploration and development, which may cause the
actual results, performance, or achievements of the Company to be
materially different from any projected future results, performance, or
achievements expressed or implied by such forward-looking statements.
=======================================================================
Copyright (c) 2008 NORDIC DIAMONDS LTD. (NDL) All rights reserved.
For more information visit our website at
http://www.nordicdiamonds.com/ or send mailto:info@nordicdiamonds.com
=======================================================================
.
![]()