Dunnedin Receives Land Use Permits and Adds Diamond Project Development Expertise

Dunnedin Ventures Inc. has received land use permits from the Kivalliq Inuit Association to begin field investigations at the Kahuna diamond project, located in Nunavut, Canada. The company is also pleased to announce the addition of Claudia Tornquist as an adviser to the company.

Permits and summer work program

The land use permits will allow the company to complete important preparatory fieldwork during summer 2015 that will facilitate a bulk-sampling program slated to begin this coming winter. The company plans to complete a minimum of 500 tonnes of bulk sampling in order to assemble a 500-carat-to-1,000-carat diamond parcel for economic valuation. Bulk sampling will require additional permitting, and the company looks forward to building its relationship with the local residents of Rankin Inlet and members of the Kivalliq Inuit Association.

Fieldwork conducted this summer will also enable the company to further evaluate the known diamondiferous kimberlites, explore additional highly prospective targets that have been identified using the extensive historic database and evaluate drill sites to support expansion of the recently published National Instrument 43-101-compliant inferred resource of approximately four million carats of macrodiamonds (plus 0.85 millimetre) at a grade of 1.01 carats per tonne at the Kahuna and Notch kimberlites (see Dunnedin news release of Jan. 26, 2015).

Addition of diamond project development expertise

Dunnedin is also pleased to announce the addition of Claudia Tornquist as an adviser to the company. Ms. Tornquist was a general manager at Rio Tinto and worked extensively with Rio Tinto’s diamond mines and development projects in Canada and Australia. She also worked as executive vice-president, business development, for the royalty company Sandstorm Gold Ltd., financing junior mining companies with stream finance, equity and debt. She will assist Dunnedin with her expertise in project evaluation, strategy development and financing. Ms. Tornquist holds master’s degrees in engineering and business administration.

The company has also granted a total of 600,000 stock options to directors, officers and consultants of the company, exercisable at 11 cents per share for a period of five years.

R. Bob Singh, PGeo, exploration manager, is the qualified person responsible for the technical content of this news release.

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