MINESPIDER AND STAR DIAMOND CORPORATION TO LAUNCH G7 COMPLIANT DIAMOND PASSPORT

TSX: DIAM        

SASKATOON, SK and BERLIN, April 25, 2024 /CNW/ - Star Diamond Corporation (TSX: DIAM) ("Star Diamond" or the "Company"), a Canadian corporation engaged in the exploration, acquisition and development of diamond properties, and Minespider, a leading traceability platform for tracking minerals and raw materials, announced today that they have partnered to launch the Diamond Passport and comply with the new G7 (Canada, France, Germany, Italy, Japan, United Kingdom and United States) rules.

Recently, the G7 countries have put a direct ban on Russian diamonds and agreed to establish a verification and certification mechanism for rough diamonds to prove the origin to ensure diamonds are not mined, processed, or produced in conflict zones.

Having over 6 years of traceability experience with companies like Google, Minsur, LuNa Smelter, and others, Minespider introduced its own Diamond Passport in March this year. The Diamond Passport contains all key information about the diamond, including its provenance data, the diamond's unique DNA, such as size, shape, color, carat, clarity, cut, and specific inclusions (natural flaws or imperfections), certificates from gemological laboratories and other documentation about the diamond.

Star Diamond is striving to ensure that diamond mining in Saskatchewan is conducted responsibly, with a focus on improving environmental performance and accompanied by strong social performance.

"The Company is excited to partner with the team at Minespider as we prepare for the eventual production and retailing of our world-class conflict-free Saskatchewan diamonds. It is our aim to provide wholesalers/retailers and end purchasers with a complete provenance report on all of our gem-quality K?w?tin branded diamonds. This will ensure that end purchasers may rest assured that the diamond they purchase is conflict-free and ethically produced in Canada." - Ewan Mason, President & CEO, Star Diamond Corporation.

"Through our partnership with Star Diamond, we intend to significantly strengthen the company's position in diamond mining at large-scale mining spots in Canada. The diamond industry requires a new reliable mechanism for the verification and certification of rough diamonds based on traceability, and we are proud to support this significant change with our robust technology and extensive experience in mineral traceability." - Nathan Williams, CEO and Founder, Minespider.

About Star Diamond Corporation

Star Diamond is a Canadian-based corporation engaged in the acquisition, exploration and development of mineral properties. Shares of Star Diamond trade on the Toronto Stock Exchange under the trading symbol "DIAM". Star Diamond's most significant asset is its interest in the Fort à la Corne property in central Saskatchewan. These kimberlites are located in close proximity to established infrastructure, including paved highways and the electrical power grid, which provide significant advantages for future mine development.

About Minespider

Minespider is a leading technology platform for tracking minerals and raw materials. The company offers a traceability platform to track mineral supply chain data and create more sustainable and transparent mineral supply chains. Minespider has developed Digital Product Passports, which are digital material IDs that allow for easy transfer of key data throughout the supply chain. Companies such as Google, Ford Otosan, TEMSA, Minsur, Luna Smelter and others are using Minespider's technology to move towards a sustainable future.

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Caution Regarding Forward-looking Statements

This press release contains "forward-looking statements" and/or "forward-looking information" (collectively, "forward-looking statements") within the meaning of applicable securities legislation. All statements, other than statements of historical fact, are forward-looking statements. The use of any of the words "anticipate", "plan", "aim", "target", "contemplate", "continue", "estimate", "expect", "intend", "propose", "might", "may", "will", "shall", "project", "should", "could", "would", "believe", "predict", "forecast", "pursue", "potential", "possible", "capable" and similar expressions are intended to identify "forward-looking statements. Forward-looking statements in this press release include, but are not limited to, expectations regarding the completion of the transactions that are the subject of the Agreement and the Project's potential to be a significant contributor to both the local communities and the broader Saskatchewan economy.

These forward-looking statements are based on Star Diamond's current beliefs as well as assumptions made by and information currently available to it and involve inherent risks and uncertainties, both general and specific. Risks exist that forward-looking statements will not be achieved due to a number of factors including, but not limited to, the impact of changes in the laws and regulations regulating mining exploration, development, closure, judicial or regulatory judgments and legal proceedings and the additional risks described in Star Diamond's most recently filed Annual Information Form, annual and interim MD&A.

Although management of Star Diamond considers the assumptions contained in forward-looking statements to be reasonable based on information currently available to Star Diamond, those assumptions may prove to be incorrect. When making decisions with respect to Star Diamond, investors and others should not place undue reliance on these statements and should carefully consider the foregoing factors and other uncertainties and potential events.  

Star Diamond does not undertake any obligation to release publicly revisions to any forward-looking statement to reflect events or circumstances after the date of this release, or to reflect the occurrence of unanticipated events, except as may be required under applicable securities laws. Investors should not assume that any lack of update to a previously issued forward-looking statement constitutes a reaffirmation of that statement. Continued reliance on forward-looking statements is at investors' own risk.

SOURCE Star Diamond Corporation