Pangea DiamondFields - Private Placement

RNS Number:8451L
Pangea DiamondFields PLC
15 January 2008

15th January 2008

AIM: PDF

THIS NEWS RELEASE IS NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR
FOR DISSEMINATION IN THE U.S.

Pangea DiamondFields plc
('Pangea' or the 'Company')

PRIVATE PLACEMENT OF UP TO C$15.0 MILLION

Pangea DiamondFields plc ("PDF" or "the Company") announces that it has
appointed a syndicate of agents led by RBC Capital Markets and including Ambrian
Partners Limited (collectively, the "Agents") to act on a best efforts basis in
connection with a marketed private placement of new ordinary shares in the
Company with a value of up to C$15.0 million (the "Offering"). It is anticipated
that the Offering will be priced in the week commencing 21 January 2008 and will
close on or about the week commencing 4 February 2008.

The net proceeds from the Offering will be used to advance the Company's
portfolio of ten projects located in the Central African Republic, Democratic
Republic of the Congo, Angola and South Africa and for general corporate
purposes.

The closing of the Offering will be subject to certain conditions including, but
not limited to, the execution of a definitive agency agreement with the Agents
and the receipt by the Company of all necessary approvals.

This press release is not an offer of the securities for sale in the United
States. The securities offered have not been, nor will be, registered under the
United States Securities Act of 1933, as amended, or state securities laws and
may not be offered or sold in the United States absent registration or an
exemption from the registration requirements of such laws. This press release
shall not constitute an offer to sell or the solicitation of an offer to buy nor
shall there be any sale of the securities in any State in which such offer,
solicitation or sale would be unlawful.

Forward-Looking Statements

Certain statements included in this press release are "forward-looking
statements" including, among other things, statements regarding the anticipated
date of pricing and closing of the Offering. Forward-looking statements are
necessarily based on assumptions that, while considered reasonable by the
Company, are inherently subject to significant business and economic
uncertainties and contingencies. Many factors could cause the Company's actual
results to differ materially from those expressed or implied in any
forward-looking statements made by the Company including, among other things,
risks relating to fluctuation in financial markets and commodity prices.
Investors are cautioned not to put undue reliance on forward-looking statements
due to the inherent uncertainty therein. The Company disclaims any intention or
obligation to update or revise any forward-looking statements other than as
required by securities legislation.

Further Information:

Pangea DiamondFields plc Ambrian Partners Limited Parkgreen Communications
Rob Still (CEO) Richard Brown Justine Howarth
T: +27 11 438 4100 T: +44 (0) 20 7776 6400 T: +44 (0) 20 7851 7480

Rehana Mahomed
(Investor relations)
T: +27 11 4384112
M: +27 82 303 6677

Notes to Editors:

About Pangea Diamondfields PLC

Pangea DiamondFields plc (AIM: PDF) is a mid-tier diamond producer and
exploration company with a portfolio of ten projects each with multiple resource
targets, located in the Central African Republic, Democratic Republic of the
Congo, South Africa and Angola. The Company's aim is to minimise risk by
diversifying its projects geographically.

PDF's projects are located within highly prospective diamond geological
environments. One project has advanced to pilot mining, three to bulk sampling
with a target of six bulk sampling or more advanced by Q1 2008. At present the
remaining projects are at differing stages of exploration.

PDF listed on AIM in October 2006.

For more information on PDF, please visit: http://www.pangeadiamondfields.com/

This information is provided by RNS
The company news service from the London Stock Exchange

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