Peregrine Completes Transaction to Acquire Diamexstrat Botswana, Begins Diamond Exploration Program

Peregrine Diamonds Ltd. is pleased to announce the completion of the transaction previously announced on March 30, 2015 to acquire all of the shares of Diamexstrat Botswana, a privately held Botswana-registered diamond exploration and development company, from Diamond Exploration Strategies Limited, a UK registered private company.

DES Botswana's primary assets are eight prospective diamond Prospecting Licences that cover 5,746 km² in Botswana. The planned 2015 Botswana diamond exploration program includes drill testing of four priority kimberlite targets.

Tom Peregoodoff, President and CEO commented "Working with the principals of DES Botswana, Peregrine has put together a cost-effective and focused exploration program for 2015. Peregrine's VP, Technical Services, Dr. Grütter and the DES Botswana team have done a tremendous job in using our extensive and proprietary Botswana database to identify high priority targets in this mature diamond-producing terrain. The work program will commence in July and the drilling is expected to commence in September."