Big Red Diamond Corporation Acquires Additional Bristol Claims (Modification)

Montreal, Quebec - July 18th, 2008 - Big Red Diamond Corporation (“BRDC”) reports that pursuant to an agreement entered with Larry Gervais and John Derweduwen (“Vendors”) (Press release dated June 30th, 2008), has acquired 7 new claims which consist of 5 claims in the Bristol Township and 2 in the Carscallen Township for a total of 36 units measuring approximately 18 sq. km.

As consideration for the sale, subject to regulatory approval, BRDC will issue up to 400,000 common shares of BRDC at an attributed price of $0.05 per share of which 200,000 will be issued upon regulatory approval and 100,000 will be issued on both the first and the second anniversaries of the regulatory approval and also grant to the Vendors a 3% Net Smelter Return (“NSR”) on precious and base metals from the material that originated from the property. BRDC retains the right to buy back up to one and a half percent (1.5%) of the NSR for a total of $2,000,000.

The property is located approximately 3 miles north of the Lake Shore Gold Corporation’s Timmins West Gold property which as completed a pre-feasibility study, 1.2 million ounces (uncut) of probable reserves and shallow high-grade gold veins.

For further information, please contact:

Jean-François Perrault
Director
Telephone: (514) 798-4484
Fax: (514) 798-4896

Martin Nicoletti
Chief Financial Officer
Telephone: (514) 907-9016 – Ext. 160
Fax: (514) 907-9017

 

 

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