Executive Summary

The Batovi Diamond Project optioned by Diamante represents an excellent opportunity for the discovery of diamond bearing kimberlite intrusives which brought the large gem quality diamonds found in the river gravels in the claims area to surface. Additionally, the project has potential for the development of an alluvial mining operation targeting these diamondiferous gravels associated with the Rio Batovi and its tributaries.

Diamante Minerals will earn an initial 49% working interest in the license via an initial $3 million exploration program to be started in 2015.

The project is located 220 km north of the town of Paranatinga in Mato Grosso, Brazil and the general area is host to over 40 known kimberlite intrusives. Though a number of these kimberlites have been historically evaluated by both DeBeers and Rio Tinto the source(s) of the many large, high quality alluvial diamonds found in the have yet to be found. This is Diamante’s focus.

Diamante’s joint venture partner is Kelex Development which is owned by Dr.Charles Fipke, discoverer of the Ekati Diamond Mine. The joint venture covers20 exploration licenses in the Rio Batovi area.

The results of extensive heavy mineral stream sediment sampling undertaken by Kelex Development on the licenses indicate that diamondiferous kimberlites should exist in the claims area. In particular, the trace element geochemistry of many kimberlite indicator minerals, such as peridotitic and eclogitic garnets, chrome spinels and chrome diopsides, show that a high percentage of grains fall within the “diamond inclusion field” of analyses for these minerals. The morphological characteristics of many of the grains indicate a short transport distance from their source. In particular, the compositions and morphologies of chrome diopsides suggest that there are nearby kimberlites which host large diamonds. This is borne out by the historical discovery of large (up to 300 carat) diamonds by artisanal miners within the claims.

The presence of significant numbers of diamond inclusion composition eclogitic garnets is also important. Research subsequent to DeBeers’ and Rio Tinto’s work in the area has revealed that these high sodium eclogitic garnets are an important indicator for diamond bearing kimberlites. Dr. Fipke is a leading global expert on indicator mineral compositions and the project will greatly benefit from his cutting edge expertise.

At least three priority areas have been identified by the heavy mineral sampling program. One of these (the “Large Diamond Anomaly”) was the subject of a small airborne magnetic and electromagnetic survey by Kelex Development in 2007 and a number of anomalous areas were interpreted from the data, which require testing to determine whether they are kimberlites.

In addition the release of comprehensive new government aeromagnetic information also indicates the presence of new features that may represent undiscovered kimberlites on the licences.

Diamante will now build upon this historic work. The next step is to fly an airborne electromagnetic survey to define potential kimberlite targets. Following this the Company will commence a target testing program.

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