Mano River Resources (MANA)

Mano River Resources (MANA)

Mano River Resources (MANA) - First 1,000 CARATS Produced fron Underground Trial Mining at Kono Project in Sierrra Leone

Mano River Resources Inc. the TSX-V and AIM-listed exploration and development company focussed on West Africa, is pleased to announce a progress update on the Kono kimberlite diamond project in Sierra Leone.  The Kono project is a Joint Venture between Stellar Diamonds Ltd and Petra Diamonds Limited. Mano River is a 63.2% shareholder in Stellar. 

Kono Project Highlights:
? 1,049 carats (12,132 diamonds) recovered from trial mining to end May 2008
? First commercial diamond tender, and project revenues, scheduled for August 2008
? Pol-K shaft in-situ kimberlite grade increased to 66 carats per hundred tonnes (“cpht”) and Bardu shaft in-situ grade established at 75cpht
? Stope trial mining from Pol-K shaft due to commence in August
? 3,167 line km E-M geophysical survey completed, processing and target selection ongoing

Karl Smithson, CEO of Stellar Diamonds commented:
“The production of the first 1,000 carats from underground trial mining is a significant milestone in our Joint Venture with Petra Diamonds.  We continue to be encouraged by the kimberlite grades and observed quality of diamonds being produced.  We are moving to a position at the Pol-K shaft where we expect to significantly increase the monthly tonnage and diamond production. Through the planned tenders of diamonds in August and October, and regular diamond sales in the coming months, we expect to be able to offset project expenditure from revenues.
We take this opportunity to congratulate Petra Diamonds, our partners and operators of the Kono project, for their continued diligent management and excellent progress made to date.“

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