Star Diamond Commences Legal Proceedings Against Rio Tinto Exploration Canada Inc.
SASKATOON, SASKATCHEWAN, March 5, 2020 – Star Diamond Corporation (TSX:DIAM) (“Star Diamond” or the “Corporation”) announced today that it has commenced legal proceedings in the Court of Queen’s Bench for Saskatchewan (Judicial Centre of Regina) against Rio Tinto Exploration Canada Inc. (“RTEC”) in relation to RTEC’s purported exercise in November 2019 of its four options under the Option to Joint Venture Agreement dated June 22, 2017 (the “Agreement”). As previously disclosed by Star Diamond in its news press dated February 18, 2020, Star Diamond is committed to enforcing its rights under the Agreement. Star Diamond does not intend to comment further on the legal proceedings, except as required by law.
About Star Diamond Corporation
Star Diamond Corporation is a Canadian based corporation engaged in the acquisition, exploration and development of mineral properties. Shares of the Corporation trade on the TSX Exchange under the trading symbol “DIAM”. The Fort à la Corne kimberlites (including the Star – Orion South Diamond Project) are located in central Saskatchewan in close proximity to established infrastructure, including paved highways and the electrical power grid, which provide significant advantages for future mine development.
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