NunaMinerals: Qaamasoq confirmed as a diamond-play

2/29/2012 5:47 AM EST

NunaMinerals A/S
Company Announcement

NunaMinerals: Qaamasoq confirmed as a diamond-play

Supported by encouraging mineral chemistry results

Nuuk, 2012-02-29 11:47 CET (GLOBE NEWSWIRE) -- NunaMinerals has conducted
diamond testing and mineral chemical analyses following on from field work
prospecting for diamonds. 

At the Qaamasoq license (2010/26), NunaMinerals has identified considerable
quantities of kimberlitic float which it can report has now been established to
contain diamonds. Testing has also established that the chemistry of
mantle-derived minerals recovered from the samples are particularly favourable
for diamonds. 

The float occurs in a number of high concentration sites, notably an area of
550 x 250 m termed The Nest, “Ullu” in Greenlandic. Rocks are characterised by
having abundant visually-striking garnets and other minerals which have now
been determined to have been sourced in the deep mantle. As such, the rocks are
favourable for diamonds. Whilst the dimensions of the source(s) are not yet
known, the mineralogy is analogous to that of the nearby Garnet Lake diamond
deposit, West Greenland, Here, abundantly diamondiferous lamprophyre and
kimberlite dykes occur which have revealed a 2.4 ct stone in reconnaissance
sampling. 

In 2012 NunaMinerals plans to follow up these encouraging reconnaissance
results. The focus will be to establish the locations of the sources of the
concentrations of diamondiferous float and establish their volume potential. 

NunaMinerals president and CEO Ole Christiansen said ”This promising mineral
chemistry and the confirmation of the presence of diamonds shows that we are on
the right track for assessing the potential for an economic deposit of
diamonds”. 

See enclosed PDF-file.




         Ole Christiansen, e-mail  , phone +299 55 18 57