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http://us2.campaign-archive2.com/?u=af313f35d729cd0ac42ae04e3&id=04097ad59e&e=ea61fbe524 _Latest News Updates_ [2]Sale Of Interest In Chidliak Exploration Project Links: 2.

http://www.bhpbilliton.com/home/investors/news/Pages/Articles/Sale-Of-Interest-In-Chidliak-Exploration-Project.aspx December 20, 2011 BHP Billiton confirms that it has agreed to sell its 51 per cent interest in the Chidliak diamonds exploration project on Baffin Island, Canada to Peregrine Diamonds Ltd.

(âPeregrineâ) (TSX:PGD).

The agreement follows an assessment of the project as part of BHP Billitonâs review of its Diamonds business and will give Peregrine, the operator, 100 per cent ownership of Chidliak. Under the terms of the binding agreement, Peregrine will pay BHP Billiton C$9 million over three years and grant BHP Billiton a two per cent royalty on future production from Chidliak. BHP Billiton Diamonds and Specialty Products President Tim Cutt said: âWe are pleased to sell our interest in Chidliak to its natural owner.

Peregrine has been a good partner and we believe they are a strong operator that is well positioned to advance this promising exploration opportunity.â The parties have agreed to complete the transaction by 31 January 2012. The review of BHP Billitons interest in EKATI is ongoing.

BHP Billiton will only pursue those options that will preserve EKATIâs outstanding safety and environmental standards and protect the benefits that the mine has created for local communities.

Potential transactions arising from the review will be subject to detailed analysis before a final decision is made.

In the event that its criteria are not met, BHP Billiton will continue to operate EKATI in a sustainable manner. About Chidliak: Chidliak is a diamonds exploration project located on South East Baffin Island in Nunavut, Canada.

The property consists of 860,000 hectares about 140 kilometres from Iqaluit.

Chidliak is a joint venture partnership between BHP Billiton (51 per cent) and Peregrine Diamonds Ltd.

(49 per cent) and has been operated by Peregrine since 2006. Â [3]Read on Links: 3.

http://www.bhpbilliton.com/home/investors/news/Pages/Articles/Sale-Of-Interest-In-Chidliak-Exploration-Project.aspx _Other News___ [4]Empowerment Transactions Links: 4.

http://www.bhpbilliton.com/home/investors/news/Pages/Articles/Empowerment-Transaction.aspx December 13, 2011 [5]Petrohawk Form-10Q Filing With SEC Links: 5.

http://www.bhpbilliton.com/home/investors/news/Pages/Articles/Petrohawk-Form-10Q-Filing-With-SEC.aspx December 05, 2011 [6]Review of Diamonds Business Links: 6.

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