🕐29.10.12 - 13:00 Uhr

PEREGRINE CLOSES $10-MILLION FINANCING



======================================================================= Re: Press Releases - Monday, October 29, 2012 Peregrine Closes $10-Million Financing ======================================================================= Peregrine Diamonds Ltd.

("Peregrine") is pleased to announce the closing of a $10-million financing with Newstar Securities SRL ("Newstar"), a company wholly owned by Robert Friedland, and with Dundee Corporation ("Dundee") as announced on October 25, 2012.

Under the terms of the financing, Newstar purchased 16.4 million shares and Dundee purchased 3.6 million shares of Peregrine from treasury, for a total of 20 million shares, priced at $0.50 per share, for total net proceeds of $10-million.

For further information on Peregrine Diamonds, please visit www.pdiam.com or contact Mr.

Eric Friedland, CEO, Mr.

Brooke Clements, President, Mr.

Tom Peregoodoff, Executive VP, Business Development, or Peregrine Diamonds Investor Relations, at 604-408-8880 or at . Associated File: http://www.pdiam.com/i/pdf/2012-10-29_NR.pdf 20 KB in size, approx.

5 seconds to download at 56.6Kbps ======================================================================= Copyright (c) 2012 PEREGRINE DIAMONDS LTD.

(PDL) All rights reserved.

For more information visit our website at http://www.pdiam.com/ or send mailto: =======================================================================



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