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STAR DIAMOND CORPORATION ANNOUNCES TRANSFORMATIVE TRANSACTION WITH SPIRIT RESOURCES s.a.r.l.

Newswire.ca - Fri May 16, 2025

TSX: DIAM

/NOT FOR DISSEMINATION IN THE UNITED STATES OR THROUGH U.S. NEWSWIRES/

SASKATOON, SK, May 16, 2025 /CNW/ - Star Diamond Corporation (the "Company") (TSX: DIAM) is pleased to announce that it has reached an agreement with Spirit Resources s.a.r.l. ("Spirit") to provide funding to the Company by way of a private placement (the "Private Placement") of units ("Units") for gross proceeds of Cdn. $4,000,000 and an interim Cdn. $800,000 unsecured loan. The proceeds of the Private Placement and loan will be used for working capital and general corporate purposes, including to advance a prefeasibility study with respect to the Fort à la Corne diamond project.

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