18:44:40 EDT Mon 06 May 2024
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or Name
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CA



Star Diamond Corp
Symbol DIAM
Shares Issued 599,573,981
Close 2024-04-24 C$ 0.08
Market Cap C$ 47,965,918
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Star Diamond backs G7 ban on Russian diamonds

2024-04-25 09:24 ET - News Release

Mr. Ewan Mason reports

MINESPIDER AND STAR DIAMOND CORPORATION TO LAUNCH G7 COMPLIANT DIAMOND PASSPORT

Star Diamond Corp. and Minespider, a leading traceability platform for tracking minerals and raw materials, have partnered to launch the Diamond Passport and comply with the new G7 (Canada, France, Germany, Italy, Japan, the United Kingdom and the 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 and ensure diamonds are not mined, processed or produced in conflict zones.

Having over six 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 (deoxyribonucleic acid) -- such as size, shape, colour, 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, Kiwetin-branded diamonds. This will ensure that end-purchasers may rest assured that the diamond they purchase is conflict-free and ethically produced in Canada," commented Ewan Mason, president and chief executive officer, Star Diamond.

"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," commented Nathan Williams, chief executive officer and founder, Minespider.

About Star Diamond Corp.

Star Diamond is a Canadian-based corporation engaged in the acquisition, exploration and development of mineral properties. Star Diamond's most-significant asset is its interest in the Fort a la Corne property in central Saskatchewan. These kimberlites are located in close proximity to established infrastructure, including paved highways and the electrical power grid, providing significant advantages for future mine development.

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