Co-recipient of the "Exploration Award" with
NexGen Energy Ltd.
Shares Issued and Outstanding: 47,156,970
TSX-V: KDI
TORONTO, Dec. 5, 2016 /CNW/ - Kennady Diamonds
Inc. ("Kennady Diamonds", the "Company") (TSX-V: KDI) is pleased to
announce that it has jointly won the prestigious Mines and Money
Exploration Company of the Year award for 2016. The award was
received at the Mining Journal Outstanding Achievement Awards Gala
Dinner that wrapped up the Mines and Money Conference in
London, England on December 1. Kennady was one of five companies
shortlisted for the award, which recognizes outstanding achievement
in the field of mineral exploration. Kennady shares the award with
co-recipient NexGen Energy, who was recognized for its impressive
uranium discoveries in the Athabasca Basin in northern Saskatchewan.
The President and CEO of Kennady Diamonds, Dr. Rory Moore, accepted the award on behalf of the
entire team that contributed to the success of the Kennady North
Project. He emphasized that the team is not restricted to technical
people on the front line, but includes the finance, administrative
and support staff as well as every member of the camp crew. He went
on to recognize a few specific individuals; "Firstly, the former
CEO of Kennady, Patrick Evans had
the vision and courage to spin out Kennady from Mountain Province in 2012 and initiate an
exploration program on the claims immediately north of the Gahcho
Kué mine. This area had been previously explored and most diamond
explorers were skeptical of his chances for success, but this did
not deter Patrick who moved ahead boldly."
Dr. Moore also paid tribute to the Yellowknife-based exploration group, Aurora
Geosciences Ltd. ('Aurora'), which has designed and implemented all
of the exploration programs on the property since 2012.
"Gary Vivian, the President of
Aurora, and Chris Hrkac, Senior
Project Manager for the Kennady North Project together with their
team, deserve the lion's share of credit for the successes that
Kennady has enjoyed to date. Their innovative, systematic and
dedicated approach to a technically challenging project has
resulted in new and unique discoveries, and earned Aurora the
respect of its peers in the industry."
Dr. Moore further recognized the loyal investors of the company;
"One will not go far in diamond exploration in the Arctic without
strong financial backing and I want to thank all of our
shareholders that have supported us along this exciting journey of
discovery. In particular, the Company's founding shareholder Mr.
Dermot Desmond has backed Kennady in
a very significant way since its inception, and this is very much
appreciated."
Dr. Moore concluded; "The fortunate combination of solid
financing, creative exploration and visionary leadership has led to
the great success of Kennady and its receipt of this award. We
intend to honor this award by moving the company toward further
discovery of kimberlites and their advancement into diamond
resources at Kennady North."
About Kennady Diamonds
Kennady Diamonds Inc. controls
100 percent of the Kennady North diamond project located in
Canada's Northwest Territories. Kennady North is
immediately to the north and west of the Gahcho Kué Diamond Mine, a
joint venture between Beers Canada (51%) and Mountain Province (49%), which started
production in late 2016.
Kennady Diamonds aims to identify a resource along the Kelvin –
Faraday kimberlite corridor of between 13 million and 16 million
tonnes at a grade of between 2 and 2.5 carats per tonne and also to
identify new kimberlites outside of the corridor. The Kelvin –
Faraday corridor is a target for further exploration. Tonnage
estimates are based on the drilling completed to date. The
potential quantity is conceptual in nature as there has been
insufficient drilling to define a mineral resource and it is
uncertain if further exploration will result in the target being
delineated as a mineral resource.
Qualified Persons
This news release has been prepared by Dr. Rory Moore, P.Geo., President and CEO of Kennady
Diamonds. The technical contents of this news release have been
reviewed and approved by Dr. Tom
McCandless, P. Geo., an independent director of Kennady
Diamonds and Qualified Person under National Instrument 43-101.
Neither the TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in the policies of the TSX
Venture Exchange) has reviewed or accepts responsibility for the
adequacy or accuracy of this release.
FORWARD LOOKING INFORMATION
This news release includes certain information that may
constitute "forward-looking information" under applicable Canadian
securities legislation. Forward-looking information includes, but
is not limited to, the Company's strategic plans, future
operations, future work programs and objectives. Forward-looking
information is necessarily based upon a number of estimates and
assumptions that, while considered reasonable, are subject to known
and unknown risks, uncertainties, and other factors which may cause
the actual results and future events to differ materially from
those expressed or implied by such forward-looking information.
There can be no assurance that such information will prove to be
accurate, as actual results and future events could differ
materially from those anticipated in such information. Accordingly,
readers should not place undue reliance on forward-looking
information. All forward-looking information contained in this
press release is given as of the date hereof and is based upon the
opinions and estimates of management and information available to
management as at the date hereof. The Company disclaims any
intention or obligation to update or revise any forward-looking
information, whether as a result of new information, future events
or otherwise, except as required by law.
SOURCE Kennady Diamonds Inc.