Mon Oct 26, 2009
DFI Expands Marine Operations to Include Other Mineral Deposits

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 Vancouver, October 26, 2009 -- Diamond Fields International Ltd. (DFI:TSX) ("DFI" or the "Company"). Diamond Fields is pleased to announce that is expanding its marine operations division to include base metal and other mineral marine deposits around the world. The Company is actively targeting, evaluating and pursuing known world-class deposits for possible acquisition. "Given Diamond Fields' unique experience as one of only a handful of companies to successfully conduct commercial marine mining, and the vast mineral wealth offshore, it only makes sense for DFI to capitalize on that experience and apply its expertise to other parts of the world" said Wayne Malouf, Diamond Fields CEO. He noted while the Company is expanding its marine mining division, it continues to pursue and develop land-based projects as well.

DIAMOND FIELDS INTERNATIONAL LTD.

"Wayne Malouf"

Wayne Malouf, Chief Operating Officer
For further information, contact Wayne Malouf at + 1 604 685 9911
Website: www.diamondfields.com

Forward-Looking Statements:
Statements in this release that are forward-looking statements are subject to various risks and uncertainties concerning the specific factors identified in Diamond Fields' periodic filings with Canadian Securities Regulators. Such forward-looking information represents management's best judgment based on information currently available. No forward-looking statement can be guaranteed and actual future results may vary materially. Diamond Fields does not assume the obligation to update any forward-looking statement.  

Welcome to Malagasy Minerals Limited

MML was established specifically to pursue the rapid development of mineral resources in Madagascar, the world’s fourth largest island, which hosts significant under explored mineral provinces. The country has a mining culture and in the past decade has made significant advances in establishing a modern mining code and a politically stable democracy.

The Company has fast tracked its development since incorporation on 22nd September 2006 with the acquisition of 100% of the issued capital of Mada Aust SARL (“MDA”) a Madagascar-based exploration company established more than 10 years ago, holding approximately 2,000 sq km of granted prospective tenements in the south of Madagascar. MDA is managed by Mr. Jules LeClezio, a French Mauritian by birth, assisted by Dr Peter Woods (geologist) and Mr Guy LeClezio (his brother) both based in Perth, has successfully built an experienced team of geologists and administrative personnel in Madagascar. Following the acquisition of MDA in April 2007, MML commenced negotiations with the French based geoscientific group, Bureau de Recherchés Géologiques et Minières (“BRGM”) to acquire their commercial drilling and assaying business in addition to land and buildings on approximately 19,000 sqm of land which includes a number of offices, warehouses and residences, as well as the BRGM drilling and assaying facilities, at their base in Antananarivo, the capital city of Madagascar. These negotiations were successfully concluded on 13th December 2007 in Orleans France, with the execution of legal agreements.

There are five main projects that will be rapidly assessed and drilled within the first 18 months of listing. These include the Ampanihy Nickel, Copper, PGE project which has a structural setting similar to the Voisey’s Bay area in eastern Canada, where a massive nickel deposit is associated with Labradorite intrusives. In Madagascar these Labradorite intrusives are being quarried by three companies on a Royalty basis, while MDA retains the rights to all other minerals. The Labradorites contain numerous disseminations of sulphide, as evidenced by prior and current field exploration programmes and (petrographic) study of cut samples. Interpretation of airborne geophysical data in and around these intrusives has indicated several areas of prospectivity worthy of follow up; these deposits constitute our primary target.

Additionally, at the Vohibory Project MML has identified the Ianapera coal occurences and significant copper anomalies with surface samples of up to 29% copper.

Through these strategic acquisitions, MML has developed a significant local presence in Madagascar with an experienced work force through out the group of over 50 personnel, the majority of whom are locals. It is envisaged that Managing Director Mr. Steven Goertz will relocate his family to Madagascar post listing, and that the operations will be run and managed from Madagascar, with only the corporate administration services being managed from Perth.

The primary objectives of MML are to “Create Shareholder wealth through focused exploration, discovery and development of significant nickel, coal, copper & PGE ore bodies, utilising modern exploration techniques and the technically competent and experienced resource team assembled in Madagascar”.

Jean-Raymond Boulle CCA

The Corporate Council on Africa (CCA), established in 1993, is at the forefront of strengthening and facilitating the commercial relationship between the United States and the African continent. CCA works closely with governments, multilateral groups and business to improve the African continent's trade and investment climate, and to raise the profile of Africa in the US business community. CCA members believe that Africa's future success depends upon the ability of its entrepreneurs and business people to create and retain wealth through private enterprise. American corporations and private individuals can contribute most effectively by building partnership and reaching out to the African private sector in the areas that America knows best: private enterprise, investment capital, technology transfer and management. CCA programs are designed to bring together potential business partners and raise Africa's investment profile in the US by developing critical contacts and business relationships and providing a forum for the exchange of information and ideas.

Forum Summary Investors Guide to Liberia   Agenda & Presentations   Welcome • Stephen Hayes, President, The Corporate Council on Africa   Remarks • Hon. Antoinette Sayeh, Minister of Finance, Government of Liberia • Hon. Richard V. Tolbert, Chairman of National Investment Commission, • Hon. Olubanke King-Akerele, Minister of Commerce and Industry, Government of Liberia • Mr. Robert Mosbacher Jr., President and CEO, U.S. Overseas Private Investment Corporation “The New Liberia: The Case for Investing in Liberia Today” Hon. Richard V. Tolbert, Chairman of National Investment Commission Business in Liberia Today: A Panel Discussion • Mr. Joseph Mathews, CEO, Arcelor Mittal Liberia • Dr. Aloy Chife, President and CEO, SocketWorks Limited • Dr. Nat Richardson, President of Bong Mines/Geo Services and President of Amlib United Minerals • Mr. Thomas S. Jeffrey III, CEO and General Manager, International Bank (Liberia) Limited Moderator: • Mr. Ken Ofori-Atta, Executive Director, Databank Ghana Oil and Gas Exploration, Production and Supply • Mr. Harry Greaves, Managing Director, Liberia Petroleum Refining Company • Mr. Pierre Benichou, President, Africa, Middle East, and Asia Pacific for TGS-Nopec • Hon. Dr. Fodee Kromah, President and CEO, National Oil Company of Liberia, Republic of Liberia Moderator: • Ambassador Howard F. Jeter, Executive Vice President, GoodWorks International Mining (gold, diamonds, bauxite and iron ore) • Hon. Dr. Eugene Shannon, Minister of Lands, Mines and Energy, Republic of Liberia • Mr. Alan Bewsher, Business Development Manager, Iron Ore, BHP Billiton • Mr. Earl Young, Director, Jean-Raymond Boulle Corporations • Mr. Guy Pas, Founder and Chairman, Mano River Resources Moderator: • Mr. Glenn D. Dunmire, III, Director, Business Development, DynCorp International Infrastructure (roads, ports and airports) • Hon. Luseni Dunzo, Acting Minister of Public Works, Republic of Liberia • James M. Anderson, Vice President, Parsons • Mr. William Ohrt, Managing Director, Regimanuel Gray Limited • Mr. Julius Dennis, General Manager, Roberts International Airport (RIA) Moderator: • Mr. Nkosana Moyo, Managing Partner, Actis     Financing Small and Medium-Sized Enterprise Development in Liberia • Mr. William Phelps, Senior Financial Advisor, CHF International • Dr. Mills Jones, Governor of the Central Bank of Liberia • Mr. Francis Dennis, President, Liberian Bank for Development and Investment (LBDI) • Ms. Sandrine Massiani, Managing Director for Africa, ProCredit Moderator: • Mr. Rodney J. MacAlister, President, U.S. African Development Foundation (ADF) Forum Luncheon and Panel Discussion Welcome: • Stephen Hayes, President, The Corporate Council on Africa Introduction of Her Excellency Ellen Johnson Sirleaf: • Mr. Robert Mosbacher Jr., President and CEO, U.S. Overseas Private Investment Corporation Keynote and subsequent Panel Discussion: • Her Excellency Madame Ellen Johnson Sirleaf, President of the Republic of Liberia • Mr. Robert Johnson, Founder and Chairman, The RLJ Companies • Mr. Alex Cummings, President and COO, Coca-Cola Africa. Moderator: • Mr. Robert Mosbacher Jr., President and CEO, U.S. Overseas Private Investment Corporation. Agriculture and Forestry • Hon. Christopher Toe, Minister of Agriculture, Republic of Liberia • Mr. Keith Jubah, President of the Rubber Planters Association of Liberia • Mr. Michael Frayne, Chairman, Equatorial Biofuels • Mr. Jeffrey Morgan, Director of Global Programs, Mars Incorporated Moderator: • Mr. Bill Guyton, President, World Cocoa Foundation Construction (Housing and Hotels) • Hon. Charles Harris, Managing Director, National Housing Authority, Republic of Liberia • Mr. Allen Brown, II, Urban Holdings • Mr. James Brenner, CEO, Broad Cove Partners, Inc. Moderator: • Ms. Debra Erb, Director of Housing Programs, U.S. Overseas Private Investment Corporation Power and Electricity Development • Mr. Harry Yuan, Managing Director, Liberian Electricity Company • Mr. Eric Yankah, Advisor/Deputy CEO, Volta River Authority (VRA) • Mr. Ron Flax-Davidson, Executive Vice President, Trade and Project Finance, Sofitel Capital • Mr. Lawrence Jones PhD, CEO, LAUVICOM Group Moderator: • Mr. Chris Neyor, Energy Specialist/Advisor, Liberian Reconstruction and Development Committee (LRDC) Transportation and Transportation Services • Hon. Jeremiah Sulunteh, Minister of Transport, Republic of Liberia • Mr. Paul Johnson, U.S. Operations Manager, Global Fleet Sales Company Limited • Mr. Julius Dennis, General Manager, Roberts International Airport (RIA) Moderator: • Mr. Erran Persley, Senior Vice President Africa Region, Chemonics International Finding Liberian Business Partners • Mr. Sam Mitchell, President, Liberia Business Association • Mr. Richelieu Dennis, Chairman and CEO, Sundial Group of Companies • Mr. Charles Morrison, President and Chairman, Scientific Concept • Mr. Simeon C.F. Freeman, CEO, Consolidated Group and Vist Group Moderator: • Hon. Olubanke King-Akerele, Minister of Commerce, Republic of Liberia Financing Options for Investment in Liberia • Mr. John Simon, Executive Vice President, U.S. Overseas Private Investment Corporation • Mr. Milton Weeks, Managing Director, Stanbic Nigeria • Ms. Morenike Adepoju, Managing Director, Ecobank Liberia • Mr. Thierry Tanoh, Director, International Finance Corporation Moderator: • Hon. Natty B. Davis, National Coordinator, Liberia Reconstruction and Development Committee (LRDC) Signing Ceremonies Trade and Investment Framework Agreement (TIFA) between the Governments of the Republic of Liberia and the United States of America   Introductions: • Mr. Stephen Hayes, President, The Corporate Council on Africa Signatories: • Hon. Ambassador Susan Schwab, United States Trade Representative • Hon. Olubanke King-Akerele, Minster of Commerce and Industry, Republic of Liberia Open Skies Agreement between the Governments of the Republic of Liberia and the United States of America Introductions: • Mr. Stephen Hayes, President, The Corporate Council on Africa Signatories: • H.E. Donald Booth, United States Ambassador to the Republic of Liberia • Mr. Richelieu Williams, Director General, Liberian Civil Aviation Authority Closing Session • Hon. Olubanke King-Akerele, Minister of Commerce and Industry • Hon. Richard V. Tolbert, Chairman of the National Investment Commission Note of thanks • Stephen Hayes, President, The Corporate Council on Africa

Jean-Raymond Boulle is a very lucky man who became a very rich man. In 1993, while he was a resident of Belize in Central America, (2) he began to acquire shares of Diamond Field Resources Ltd. (DFR), a public company incorporated in Canada and traded on the Toronto Stock Exchange. On March 10, 1993 he transferred those shares to MIL (Investments), a corporation that he had caused to be incorporated under the laws of the Cayman Islands and of which he was the sole shareholder. Before November 1994, DFR acquired, explored, and developed diamond properties. In November, 1994 DFR hit the Mother Lode--it discovered a major deposit of nickel, copper, and ...